Common use of Milestone 3 Clause in Contracts

Milestone 3. (a) As soon as practicable after Milestone 3 has been achieved, the Buyer must give written notice to the Sellers to that effect (Milestone 3 Trigger Notice), and the Buyer must, subject to clause 7.10, either: (i) issue the Milestone 3 Trigger Shares in accordance with clause 7.7; or (ii) pay the Milestone 3 T rigger Cash Payment in accordance with clause 7.9, as determined by the election of the Buyer in clause 7.6(c). (b) Subject to clause 7.10, as soon as practicable after a Capital Raising Announcement with respect to each Capital Raising after the Milestone 3 Trigger Date, the Buyer must give written notice to the Sellers setting out the consideration payable to the Sellers for that Capital Raising (Capital Raising Notice), and Buyer must either: (i) issue the Capital Raising Shares in relation to that Capital Raising in accordance with clause 7.7; or (ii) pay the Capital Raising Cash Payment in relation to that Capital Raising in Accordance with clause 7.9, as determined at the election of the Buyer in accordance with clause 7.6(c). (c) Within 5 Business Days of the Milestone 3 Trigger Notice, the Buyer must elect to pay the Milestone 3 Consideration either by way of shares or cash and must give notice of such election to the Sellers (Election Notice).

Milestone 3. (a) As soon as practicable after Milestone 3 has been achieved, the Buyer must give written notice to the Sellers to that effect (Milestone 3 Trigger Notice), and the Buyer must, subject to clause 7.10, either: (i) issue the Milestone 3 Trigger Shares in accordance with clause 7.7; or (ii) pay the Milestone 3 T rigger Trigger Cash Payment in accordance with clause 7.9, as determined by the election of the Buyer in clause 7.6(c). (b) Subject to clause 7.10, as soon as practicable after a Capital Raising Announcement with respect to each Capital Raising after the Milestone 3 Trigger Date, the Buyer must give written notice to the Sellers setting out the consideration payable to the Sellers for that Capital Raising (Capital Raising Notice), and Buyer must either: (i) issue the Capital Raising Shares in relation to that Capital Raising in accordance with clause 7.7; or (ii) pay the Capital Raising Cash Payment in relation to that Capital Raising in Accordance with clause 7.9, as determined at the election of the Buyer in accordance with clause 7.6(c). (c) Within 5 Business Days of the Milestone 3 Trigger Notice, the Buyer must elect to pay the Milestone 3 Consideration either by way of shares or cash and must give notice of such election to the Sellers (Election Notice).