Milestone Three Clause Samples
The 'Milestone Three' clause defines the requirements and deliverables that must be completed for the third major phase of a project. It typically outlines specific tasks, deadlines, and acceptance criteria that the contractor or service provider must meet to achieve this milestone. For example, it may require the submission of a detailed report, completion of a prototype, or delivery of a particular service component by a certain date. This clause ensures that both parties have a clear understanding of expectations for this stage, facilitating progress tracking and enabling the release of payments or other contractual obligations tied to the successful completion of Milestone Three.
Milestone Three. Completion of a Validation Study of the application of ECOSAR in the evaluation of aquatic toxicity of polymeric chemical substances.
Milestone Three. The average closing price per share that the Common Stock trades at on the Exchange for a Measurement Period is at least three times (3X) the IPO Price.
Milestone Three. In the event that either (i) the FDA requires that Incline, as a condition precedent to Regulatory Approval in the United States, conduct new clinical studies with a primary objective of demonstrating efficacy or safety in order to receive such Regulatory Approval, or (ii) Incline believes, in good faith and after exerting reasonable business judgment, that the conduct of one or more new clinical studies [**] are required to be conducted prior to Regulatory Approval in order to gain Regulatory Approval in the United States, based on written correspondence received from the FDA and provided to ALZA, and Incline on such basis of (i) or (ii) above so conducted such clinical trial(s) prior to receipt of Regulatory Approval and written evidence of the cost and conduct of such clinical trials is provided to ALZA, Incline shall have the right to offset against the amount otherwise due upon achievement of Milestone Three the amounts actually expended by Incline (internal and Third Party costs) on such clinical trials prior to receipt of Regulatory Approval, up to a limit of $[**] million. For the avoidance of doubt, the minimum payment due upon achievement of Milestone Three shall be $[**] million.
Milestone Three. Initiation of the manufacturing and biosafety of the MCB - $[***] ($[***] w/ IDC)
Milestone Three. Initiation of the manufacturing and biosafety of the MCB - $115,000 ($203,550 w/ IDC)