Common use of Third Tranche Clause in Contracts

Third Tranche. Upon achieving Development Completion, as defined in Section 3.1.3. above, Investor shall notify Unicoin. The determination of Development Completion shall be confirmed and certified by a qualified, independent expert mutually agreed upon by Investors and Unicoin (the “Second Expert Certification”). The Second Expert Certification must be in writing and shall detail the specific milestones achieved, explicitly confirming that all criteria outlined in the definition of “Development Completion” in Section 3.1.3 have been met. Unicoin shall release the Unicoin Rights Certificate representing the portion of unicoins under the Third Tranche to the Investors, but only upon receipt of the Second Expert Certification and a written confirmation from Investors that all the milestones specified in Section 3.1.3 have been achieved. All costs associated with the Second Expert Certification shall be borne by the Investor.