Milestone Extension definition
Examples of Milestone Extension in a sentence
Upon the expiry of a Milestone Extension, the Trust shall, at its sole discretion, decide whether or not to permit full or partial payment of the relevant Tranche of funding to PTC.
If Buyer exercises a termination right pursuant to this Section 6(e) and Seller believes that the Milestone was achieved by the appropriate date (as extended by the Milestone Extension Period), the parties agree to submit the dispute concerning Seller's failure to achieve that particular Milestone, and Buyer's resulting right to terminate the Lease, to binding arbitration pursuant to the provisions of Section 16.
Upon the occurrence of a Case Milestone Extension, the Administrative Agent (acting on behalf of the Required Lenders) shall deliver a completed version of Annex III hereto to the Borrower.
In the event of a dispute between the Parties regarding the achievement of a Milestone the Trust shall grant a Milestone Extension for the duration of the resolution of the Dispute.
Upon the expiry of a Milestone Extension, Wellcome shall, at its sole discretion, decide whether or not to pay any further tranches of the Loan to the Company, but Wellcome shall not be obliged to do so.
If Seller fails in any material respect, as reasonably determined by SCE, to: (i) meet the requirements of the Recovery Plan; (ii) make sufficient progress in effecting the Recovery Plan; or (iii) achieve completion of the missed Critical Path Development Milestone by the CPD Milestone Extension Date, such failure shall not be subject to a further attempt to cure.
Upon the occurrence of a Case Milestone Extension, the following shall be deemed the Case Extension Availability Amount for all purposes under this Agreement: $[_________________] dollars.
If LICENSEE fails to meet any Diligence Milestone within the required time period (which time period shall include any Milestone Extension actually granted) and thereafter fails to request a Milestone Extension within the required time period, or if LICENSEE requests a Milestone Extension that is not granted because it exceeds the maximum number of extensions under Article 4.3(b), UTRF shall have the right to terminate this Agreement upon thirty (30) days written notice to LICENSEE.
LICENSEE shall notify UTRF within 30 days after the due date of a Diligence Milestone of any requests for a Milestone Extension.
If Company determines that it will be unable to achieve a Performance Milestone, Company will so notify University in advance of the Performance Milestone Date, Company may request a Performance Milestone Extension (as described below) or, providing Company demonstrates it is diligently pursuing development and commercialization of at least one Licensed Product, Company may request that the Parties negotiate an appropriate new Performance Milestone and/or related Performance Milestone Date in good faith.