Delayed Milestone definition
Examples of Delayed Milestone in a sentence
If the University takes no action under Sections 3.05 and 9.02(A) before the Milestone that is the subject of Licensee’s notice provided in accordance with this Section 3.04(B) is achieved (the “Delayed Milestone”), then the Milestone Date for each subsequent Milestone will be extended by the same amount of time between Delayed Milestone’s original Milestone Date and the date the Delayed Milestone was actually achieved.
If COMPANY fails to reach any Delayed Milestone, then COMPANY may obtain a further [***] month extension.
In order to be entitled to the second extension, COMPANY shall, within [***] after the deadline for the achievement of the unachieved Delayed Milestone (a) pay to LICENSOR [***] of the Milestone Payment that would otherwise have been due had COMPANY timely achieved the Delayed Milestone, and (b) [***].
In order to be entitled to the second extension, COMPANY shall, within [###] after the deadline for the achievement of the unachieved Delayed Milestone (a) pay to LICENSOR [###] of the Milestone Payment that would otherwise have been due had COMPANY timely achieved the Delayed Milestone, and (b) [###].
If Licensee fails to reach any Delayed Milestone, then Licensee may extend that Delayed Milestone for a period of [***].
In order to be entitled to the second extension, Licensee shall, within [***] after the deadline for the achievement of the Delayed Milestone (x) pay to Licensor [***]% of the milestone payment that would otherwise have been due had Licensee timely achieved the Delayed Milestone and (y) [***].
Upon receipt by Licensor of such notice, the Parties agree to meet within fourteen (14) days to negotiate in good faith to revise the date by which a Delayed Milestone must be achieved and/or the obligations set forth in such Delayed Milestone.
If the Licensor takes no action under Sections 3.04 and 9.02(A) before the Milestone that is the subject of Licensee’s notice provided in accordance with this Section 3.03(B) is achieved (the “Delayed Milestone”), then the Milestone Date for each subsequent Milestone will be extended by the same amount of time between Delayed Milestone’s original Milestone Date and the date the Delayed Milestone was actually achieved.
If COMPANY fails to reach any Delayed Milestone, then COMPANY may obtain a further [###] month extension.
If Licensee provides Harvard with a Delayed Milestone Notice and provides Harvard with an Explanation and a Plan, but the Explanation is not acceptable to Harvard in its reasonable discretion (e.g., Licensee asserts lack of finances or development preference for a non-Licensed Product), then Harvard will provide Licensee a written notice explaining why the Explanation was not acceptable.