Examples of Subsequent Milestone in a sentence
Each Advance Request shall include a certificate by Borrower certifying that the Subsequent Milestone has been achieved (or in the case of the initial Advance, that the initial Milestone has been achieved).
For each subsequent Advance requested by Borrower following the initial Advance, Borrower shall have furnished to Lender appropriate evidence that the Subsequent Milestone to which the Advance relates has been successfully achieved.
Such additional proof may include additional confirming evidence of the accomplishment of all Milestones preceding the Subsequent Milestone for which the Advance is requested.
For clarity, if a Subsequent Milestone is achieved and any Previous Milestone for such Research Project Target has not yet been achieved for any reason, notwithstanding anything herein to the contrary such Previous Milestone(s) shall be deemed to have been achieved and the corresponding Development Milestone Payment set forth in the table above shall be payable simultaneously with the Development Milestone Payment for the achievement of the Subsequent Milestone.