Milestone Payment Reduction Sample Clauses
The Milestone Payment Reduction clause establishes the conditions under which payments tied to project milestones may be reduced. Typically, this clause applies when a contractor or service provider fails to meet specific performance criteria, deadlines, or deliverable standards associated with a milestone. For example, if a deliverable is submitted late or does not fully comply with agreed specifications, the payment for that milestone may be proportionally decreased. The core function of this clause is to incentivize timely and satisfactory performance while protecting the client from paying the full amount for incomplete or substandard work.
Milestone Payment Reduction. Notwithstanding anything to the contrary in Section 6.3.3(c) above, [***].
Milestone Payment Reduction. The milestones in Section 6.3.4(a) and 6.3.4(b) above assume that the [***]. [***]
Milestone Payment Reduction. The milestones in Section 6.3.2(a) and 6.3.2(b) above assume that the Collaboration Compound, GSK Development Compound or Product that incorporates a GSK Development Compound has a [***]. [***]