Milestone Extensions Clause Samples

The Milestone Extensions clause allows for the adjustment of deadlines or completion dates for specific project milestones under certain conditions. Typically, this clause outlines the process by which a party can request additional time, such as submitting a written notice and providing justification for the delay, and may specify acceptable reasons like unforeseen circumstances or force majeure events. Its core practical function is to provide flexibility in project timelines, helping to manage unexpected delays and reduce the risk of default due to factors beyond the parties' control.
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Milestone Extensions. Each Milestone (and each subsequent Milestone, including the Expected Commercial Operation Date and the Guaranteed Commercial Operation Date, as applicable) shall be extended to the extent reasonably required following an event of Force Majeure or Buyer’s breach of this Agreement, in each case, that impacts the achievement of such Milestone.
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Milestone Extensions. If, despite its diligent efforts and continued development activities, LICENSEE is unable to achieve the milestones in paragraph 5.02 above, LICENSEE may extend the deadlines for such milestones for a period of no more than eighteen (18) months by making extension fee payments of One Thousand Dollars ($1,000) per month. LICENSEE shall have the opportunity to purchase such an extension only once for any one of the above milestones, and shall be able to purchase no more than three extensions during the term of this Agreement. In order to effect such extension, LICENSEE shall provide a written request to SYSTEM identifying the length of the extension requested, and remit to SYSTEM payment of the fee for the first month of the extension no less than thirty (30) days prior to the deadline for the milestone, which if extended for more than one month, payments for the additional months of the extension shall be due thirty (30) days prior to the first day of each month of the extension.
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Milestone Extensions. If LICENSSEE is unable to meet any of the Diligence Milestones, UTRF will grant to LICENSEE, upon LICENSEE’s written request, a six-month extension of time to meet any missed milestone (“Milestone Extension”), subject to the following: (a) UTRF has no obligation to grant Licensee more than two (2) Milestone Extensions per Diligence Milestone and six (6) Milestone Extensions in the aggregate; (b) In consideration of each Milestone Extension that UTRF grants, LICENSEE shall, within thirty (30) days, pay UTRF a Milestone Extension fee of Fifty Thousand Dollars ($50,000 USD) for each of the first two (2) extensions, Seventy-Five Thousand Dollars ($75,000 USD) for each of the next two (2) extensions, and One-Hundred Thousand Dollars ($100,000 USD) for each further extension; and (c) Each Milestone Extension granted shall be considered to apply to the specific Diligence Milestone for which it is granted.
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Milestone Extensions. (a) Each Milestone (including, without limitation, the deadlines for Construction Start, the Initial Delivery Date, Partial Commercial Operation and Full Commercial Operation) shall be extended on a day-for-day basis without imposition of Delay Damages under Section 3.5 to the extent Seller is unavoidably delayed in achieving such Milestone due to (a) the failure by Buyer to perform any covenant or obligation under this Agreement, (b) Force Majeure, or (c) either (i) the failure of Seller and the Transmission Provider at the Point of Delivery to have executed a mutually-acceptable interconnection agreement for the delivery of Facility Energy at the Point of Delivery, or (ii) the failure of the Transmission Provider at the Point of Delivery to achieve the in-service interconnection date for the Facility’s interconnection facilities, in the case of either (i) or (ii), by the date that is sixty (60) days before the Expected Initial Delivery Date, but in the case of either (i) or (ii), only to the extent such failure is not the direct or indirect result of the fault or negligence of Seller or any of its Affiliates, or the direct or indirect result of any delay in the engineering and procurement (if applicable), construction and installation of the portion of interconnection facilities required to be constructed or installed by Seller or any of its Affiliates. (b) The deadline for achievement of each Milestone other than Full Commercial Operation shall be extended on a day-for-day basis without the imposition of Delay Damages under Section 3.5 for each day any of the Seller Conditions remain unsatisfied after October 31, 2012. The deadline for achievement of Full Commercial Operation shall be extended on a day-for-day basis without the imposition of Delay Damages under Section 3.5 for each day any of the Seller Conditions remain unsatisfied after December 31, 2012.
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Milestone Extensions. If AADi fails to achieve any of its obligations specified in Sections 4.2 hereof, through no fault of Abraxis, AADi shall have the right, [***]. [***]. Thereafter, if AADi fails to achieve any of the [***] milestones, through no fault of Abraxis, then, subject to the Certain identified information marked with [***] has been excluded from this exhibit because it is not material and is of the type that the registrant treats as private and confidential. cure provisions of Section 11.4(b) hereunder, [***]. This right to [***], if exercised by Abraxis, supersedes the rights granted in Article 2 hereof. [***].
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Related to Milestone Extensions

  • Development Milestone Payments TriSalus shall pay (or cause to be paid) to Dynavax, in accordance with and subject to the terms of this Section 2.3, Section 2.4 and Section 6.4 (each such milestone, a “Development Milestone”, and each payment in respect thereof, a “Development Milestone Payment”): (i) Upon the successful completion by a Milestone Obligor after the Closing of a [**] study with respect to a Product using PEDD, a payment of [**] US Dollars ($[**]), with such Development Milestone Payment being payable only once (for purposes of the foregoing, successful completion means completion of such study in accordance with the plan for such study); (ii) For the first patient Dosed by a Milestone Obligor in each Phase 1 Clinical Trial for a Product for each Indication, a payment of [**] US Dollars ($[**]), up to a maximum of [**] such payments, regardless of how many Indications are pursued for a Product or how many Products are in development by Milestone Obligor; (iii) For the first patient Dosed by a Milestone Obligor in each Phase 2 Clinical Trial for a Product for each Indication, a payment of [**] US Dollars ($[**]), up to a maximum of [**] such payments regardless of how many Indications are pursued for a Product or how many Products are in development by Milestone Obligor; (iv) For each Phase 2 Clinical Trial for a Product for each Indication conducted by or on behalf of a Milestone Obligor meeting the primary endpoint for such Phase 2 Clinical Trial based on full tables, figures and listings or continued development of such Product for the same Indication as such Phase 2 Clinical Trial, a payment of [**] US Dollars ($[**]), up to a maximum of [**] such payments, regardless of how many Indications are pursued for a Product or how many Products are in development by Milestone Obligor; (v) For each Phase 3 Clinical Trial for a Product for each Indication conducted by or on behalf of a Milestone Obligor meeting the primary endpoint for such Phase 3 Clinical Trial based on full tables, figures and listings or continued development of such Product for the same Indication as such Phase 3 Clinical Trial, a payment of [**] US Dollars ($[**]), up to a maximum of [**] such payments, regardless of how many Indications are pursued for a Product or how many Products are in development by Milestone Obligor; (vi) Upon receipt by a Milestone Obligor of each Regulatory Approval for any Product for any Indication in the U.S., a payment of [**] US Dollars ($[**]), up to a maximum of [**] such payments, regardless of how many Indications are pursued for a Product or how many Products achieve Regulatory Approval; (vii) Upon receipt by a Milestone Obligor for each Regulatory Approval of any Product for any Indication in any country or region outside the U.S., a payment of [**] US Dollars ($[**]), up to a maximum of [**] such payments, regardless of how many Indications are pursued for a Product or how many Products achieve Regulatory Approval; (viii) Upon receipt by a Milestone Obligor for each Regulatory Approval for a Product with Orphan Drug Exclusivity for each Indication of a Product in the U.S., a payment of [**] US Dollars ($[**]), up to a maximum of [**] such payments (which, for clarity, shall be payable in addition to the Development Milestone payable under Section 2.3(a)(vi) for receipt of such Regulatory Approval), regardless of how many Indications are pursued for a Product or how many Products achieve Regulatory Approval; and (ix) Upon receipt by a Milestone Obligor for each Regulatory Approval for a Product with Orphan Drug Exclusivity for each Indication of a Product in any country or region outside the U.S., a payment of [**] US Dollars ($[**]), up to a maximum of [**] such payments (which, for clarity, shall be payable in addition to the Development Milestone payable under Section 2.3(a)(vii) for receipt of such Regulatory Approval), regardless ​ of how many Indications are pursued for a Product or how many Products achieve Regulatory Approval.

  • Milestone A principal event specified in the Contract Documents including the Material Completion and Occupancy Date and other events relating to an intermediate completion date or time.

  • Development Milestones In addition to its obligations under Paragraph 7.1, LICENSEE specifically commits to achieving (either itself or through the acts of a SUBLICENSEE) the following development milestones in its diligence activities under this AGREEMENT: (a) (b).

  • Sales Milestone Payments Artiva shall make the following one-time, non-refundable and non-creditable sales milestone payments to GCLC when the aggregate annual Net Sales of Products in the Territory first reach the thresholds specified below. Artiva shall notify GCLC promptly of the achievement of each such sales threshold. Each sales milestone payment shall be made by Artiva within [***] days after the end of the calendar quarter in which such sales threshold is achieved. To the extent more than one sales threshold is reached in any given calendar year, then the applicable milestone payment for each such achievement shall be due and owing with respect to such calendar year. For clarification, the total milestone payments payable hereunder if all milestone events are achieved is [***].

  • Milestone Event Milestone Payment [***] [***]