It is a License Agreement, not an unconditional contract
I don't think that is quite right. If [lexicon]IH[/lexicon] wanted to bail on the license, they should have done it before the 350 day test started, or at least fairly soon after it started.
Waiting until the 350 days was done, they have hit another milestone, and they are on the hook unless they can show it was not achieved. IMO.
Quote from Thomas Clarke: “It is a License Agreement, not an unconditional contract”
I don't think that is quite right. If <a href="https://www.lenr-forum.com/forum/wiki/index.php/Entry/7-IH/">[lexicon]IH[/lexicon]</a> wanted to bail on the license, they should have done it before the 350 day test started, or at least fairly soon after it…
I can't see any penalty other than losing the license. But you could be right, maybe it is a future commitment to pay the money if the terms are met.
@Walker
I doubt they will claim his technology doesn't work, they will claim he has not provided all necessary IP, know-how, fuel recipe, and assistance to allow them to make the product and replicate/substantiate the claims. All of those things were to be provided immediately following the $10M payment and concurrently to the 350 day test, so just like the positive test result they were legally a pre-condition for the final payment.
This legal approach would allow the claim that Rossi has not yet fulfilled his end of the contract, and payment is not due until he has done so.
That approach leaves them the ability to just wait until Rossi has met the condition, while retaining the License, the 2-year non-compete in effect for Rossi, and first right of purchase on any other territories per the agreement. At the end of the day they pay as soon as Rossi has adequately shown them how to make the product, and until then he has to wait for payment.
Those auto lexicon things are driving me crazy, attaching to [lexicon]IH[/lexicon]
I'm going to start spelling them wrong so that quotes don't go bonkers
like this
<a href="https://www.lenr-forum.com/forum/wiki/index.php/Entry/7-IH/">[lexicon]IH[/lexicon]</a>
Those auto lexicon things are driving me crazy[...]
I just disabled it. Future posts will not have it.
