Examples of Achievement Date in a sentence
Licensor acknowledges that due to long development times, scientific, potential safety and development hurdles and challenges and regulatory requirements and processes associated with Licensee’s industry, Licensee may be unable to achieve a particular Diligence Milestone by the applicable Achievement Date.
Licensee will notify Licensor in writing in advance of any such anticipated delay, and as long as Licensee is fulfilling its obligations of Commercially Reasonable Efforts, the Parties will negotiate in good faith an extension of the relevant Achievement Date upon the payment of a fee (the “Extension Fee”) equal to [$x/x% of the relevant Development Milestone Payment], which extension Licensee must exercise no later than [x days] before the relevant Achievement Date.