That is a question for people who either have insider data, or know well contract language.
There is in the license agreement
an escrow protocol about the 10Mn$, 3.2b
https://animpossibleinvention.…sdce-16-21199__0001-2.pdf
It is said that escrow agent shall pay after validation is achieved (as Section 4 says), and E-cat IP has been validated and is available for immediate delivery (as said in 3.2b ? recursive?)
the validation in sections 4 is simply described as 1 day of COP>6 at T>100°C steam.
I don't see how the IP is validated ? It seems to be a bit surface check, as IP validation is said to be stransfered afterward to IH.
what is validating the IP ? just reading the papers and checking it looks good ? making test ? or seeing a demo by Rossi ?
On point of attack (estoppel?) is if IH validated the content of the IP as working, while it later claims it was not working. I imagine that it is not that simple... It is said that IH tried to oppose the long term test as it could not "substantiate" the IP working.