MILESTONES – Licensor
a) Licensor is obligated to continual to improve and optimize their patented quantum dot solar cell technology and to achieve a peak solar cell conversion efficiency of 15% on or before the 18 th month following execution of this agreement. If licensor does not achieve this target performance within this time frame the licensee will deduct and accrue 10% from the total amount of royalties owing until such time the target performance is achieved. Once the target is achieved the accrued royalties will be paid to licensor.
b) Licensor is obligated to timely ship production and process equipment and to insure all equipment is of the latest generation. Licensor will make all shipments expeditiously and any shipments that are delayed beyond the initial target date and effect the licensee milestone dates will automatically add 15 days to the licensee milestone dates referenced above.
a) Licensor is obligated to continual to improve and optimize their patented quantum dot solar cell technology and to achieve a peak solar cell conversion efficiency of 15% on or before the 18 th month following execution of this agreement. If licensor does not achieve this target performance within this time frame the licensee will deduct and accrue 10% from the total amount of royalties owing until such time the target performance is achieved. Once the target is achieved the accrued royalties will be paid to licensor.
b) Licensor is obligated to timely ship production and process equipment and to insure all equipment is of the latest generation. Licensor will make all shipments expeditiously and any shipments that are delayed beyond the initial target date and effect the licensee milestone dates will automatically add 15 days to the licensee milestone dates referenced above.
