definiens: means that : 1 ) Seller or Seller ’s designee shall receive ten percent ( 10 % ) of any monies raised via equityfinancing by either the Buyer or Buyer Licensee until such time as the total amount of $ 53,000 due under Section 1.2(b ) has been paidas directed in Section 1.2(b ) and 2 ) within thirty ( 30 ) days of the closing of an equity financing wherein the total funds raised by theBuyer or Buyer Licensee ( including all equity financings that occur after the date of this Amendment ) exceeds $ 4 million, the Seller andSeller ’s Designee shall be paid the Initial Milestone Payment of $ 100,000 cash with $ 50,000 paid to the Seller and $ 50,000 to theSeller ’s Designee