Common use of Second Tranche Clause in Contracts

Second Tranche. Upon achieving Fifty Percent Development Completion, as defined in Section 3.1.2, Investor shall notify Unicoin. The determination of Fifty Percent Development Completion shall be confirmed and certified by a qualified, independent expert mutually agreed upon by Investors and Unicoin (the “First Expert Certification”). The First Expert Certification must be in writing and shall detail the specific milestones achieved, explicitly confirming that all criteria outlined in the definition of “Fifty Percent Development Completion” in Section 3.1.2 have been met. Unicoin shall release the Unicoin Rights Certificate representing the portion of unicoins under the Second Tranche to the Investor, but only upon receipt of the First Expert Certification and a written confirmation from Investors that all the milestones specified in Section 3.1.2 have been achieved. All costs associated with the First Expert Certification shall be borne by the Investor.