Milestone 6 definition

Milestone 6 means the achievement of worldwide aggregate Net Sales of the Product (inclusive of all Indications) of at least five hundred million U.S. dollars ($500,000,000), calculated on a cumulative basis for all Calendar Years (or portion thereof) and inclusive of all Net Sales applied toward the achievement of Milestone 5, provided that Milestone 3 is achieved by or before December 31, 2030.

Milestone 6. Upon STRATEC’s completion of the activities resulting in the availability of Validation Instruments (Milestone 6) STRATEC shall provide QUOTIENT with a written notice thereof including evidence that Shipping Criteria have been met. Within 10 working days after QUOTIENT’S receipt of such notice QUOTIENT is requested to (i) release the shipment of the Validation Instruments (validation unit(s)) or (ii) to decline STRATEC’s achievement of the agreed upon Shipping Criteria, providing STRATEC with a detailed written justification thereof. If QUOTIENT declines STRATEC’s achievement of the agreed upon Shipping Criteria the procedure as outlined in Section (j) of this paragraph shall apply. If QUOTIENT releases the shipment of the Instrument Validation Instruments or fails to decline STRATEC’s achievement of Shipping Criteria within 10 working days after QUOTIENT’S receipt of STRATEC’s notice STRATEC shall be allowed to both ship the Validation Instruments and invoice QUOTIENT for the amount due. QUOTIENT shall remit Payment to STRATEC within thirty (30) days of receipt of the invoice.

Milestone 6 is amended by deleting it in its entirety and replacing it with the following:

Examples of Milestone 6 in a sentence

• March 2023 Milestone #6 – Go-Live This milestone is complete upon the first production WAPA energy imbalance market trade date.

• This is deliverable D4.1: Innovation Plan, the output of CompBioMed’s Task 4.1: Production of an Innovation Plan and publishing the first issue of the document is Milestone 6 in the project.

• If Recipient anticipates either that Key Milestone 1 will require material changes or that Key Milestone 6 will be delayed by more than ninety (90) days, Recipient shall submit a Request for Change Order, as described in Section 4(c) of the Agreement, to XXXXXxxxxxxXxxxxxx@xxxx.xxxxx.xx.xx as soon as Recipient becomes aware of any possible change or delay.

• Success Criteria: Executed document showing title to parcel of land in Cape Breton for orbital launch complex Sept 2007 Milestone 6: Test stand infrastructure Description: Construction of the test stand.

• Neither Key Milestone 1, Scoping and planning, nor Key Milestone 6, Project completion, can be changed without an amendment to the Agreement.

More Definitions of Milestone 6

Milestone 6. “Milestone 6” means:

Milestone 6 means achievement of aggregate Annual Revenues by all Selling Parties of at least $25,000,000 during any Calendar Year ending on or before December 31, 2027.

Milestone 6. Contacts: EXECUTIVE conducts a review of current BRAINTECH sales, revenue and commission plan, and identifies and introduces to BRAINTECH at least five (5) new accounts for each of the eight (8) BRAINTECH salespersons (including such salesperson which are not yet hired). On achievement of Milestone 6, 250,000 of EXECUTIVE’s Bonus Stock Options will vest and become fully exercisable for the remainder of their term. Milestone 7: Support and Services Revenue: EXECUTIVE develops and manages at least $150,000 in 2009 BRAINTECH support and services revenue. On achievement of Milestone 7, 250,000 of EXECUTIVE’s Bonus Stock Options will vest and become fully exercisable for the remainder of their term.

Milestone 6. The state has supported the Commonwealth in Bridging the Gap, as measured by:

Milestone 6. [†]: [†] Dollars ($[†])

Milestone 6. [Text has been redacted]

Milestone 6 shall have the meaning as defined in SECTION 4.2(vi).