Milestone I definition
Examples of Milestone I in a sentence
In the event that the initial stage of either the [*] Research Program or the [*] Research Program yields a Compound that satisfies the criteria set forth in the relevant Research Program for Milestone I, Merck, in consultation with Transcell, will determine whether an increased number of chemistry FTE's may be required at Merck or Transcell for carrying out the subsequent stages of such Research Program.
Additionally, Borrower is currently in default under Section 6.7(c) of the Agreement (as in effect prior to the date hereof) due to Borrower’s failure to consummate Equity Milestone I (as defined in the Agreement prior to the date hereof) (the “Existing Default”).
If Client hires i-Showcase to manage the content and data on Client’s website, then i-Showcase start this task after Milestone I is achieved.
Beginning on the date on which Borrower achieves Equity Milestone I and continuing at all times thereafter.
Notwithstanding any provision in this Agreement to the contrary, Seventy-Five Thousand Dollars ($75,000) of the Base Salary shall be accrued and not be paid until Company shall have completed the Milestone I (as defined below)(the “Accrued Base Salary”), at which time Company shall (a) pay Executive thereafter his entire Base Salary and (b) pay in lump sum to Executive within thirty (30) days thereafter his Accrued Base Salary.