Performance Obligations; Breach; Damages. In the event that the Company fails to complete each of the milestones of Section 10.1(b) (“Lead Milestones”) by June 30, 2008, and such failure is not the result of Bionics’ failure to reasonably cooperate with the Company in pursuing the Lead Milestones, the Company will be in breach of this Agreement. Upon receiving written notice of breach under this Section 10.l(c) by Bionics, the Company will have 60 days to cure the breach. If the Company fails to cure the breach within 60 days after receiving notice of such breach, the Company will immediately pay Bionics a sum of money equal to (i) all Lead Milestone payments disbursed to date, plus (ii) all expense reimbursements previously paid by Bionics to the Company pursuant to Section 10.1(a), plus (iii) all patent prosecution costs incurred by Bionics under Section 11.2(a) with respect to Patents (defined below) related to the Lead.
Appears in 5 contracts
Samples: System and Lead Development and Transfer Agreement (Mri Interventions, Inc.), System and Lead Development and Transfer Agreement (Mri Interventions, Inc.), System and Lead Development and Transfer Agreement (Surgivision Inc)
