Common use of Milestone Fee Clause in Contracts

Milestone Fee. The Milestone Fee is only applicable to a Transaction (as defined in Section 1 above). A $15,000 non-refundable, non-contingent milestone fee (the “MilestoneFee”) due within three (3) days of full execution of a Transaction/Service Contract for eachcontemplated Transaction. For purposes of this Milestone Fee and the Consulting Fee, and by way of example, each license (i) purchased, (ii) sold, and/or (ii) funded constitutes an individual Transaction. As an example, if a Licensee sells three dispensary licenses, You would owe to CannaMatch a total of $45,000 ($15,000 x 3). The Milestone Fee will be credited against the Consulting Services Fee, if and when paid by You. You agree, however, that the Milestone Fee is notcontingent upon closing a Transaction.

Appears in 2 contracts

Sources: Consulting Fee Agreement, Consulting Fee Agreement