Early V1
FAA has changed the definition of V1 in Far part 1 to read as follows:
1) V1 means the maximum speed in the take off at which the pilot must take the first action(eg apply brakes, reduce thrust,deploy speed brakes) to stop the airplane within the accelerate stop distance;and,
2)V1 also means the MINIMUM speed in the take off, following a failure of a critical engine at which the pilot can the take off and achieve the required height above the takeoff surface within the takeoff distance.
Point number 2 in the definition makes it clear that, following an engine failure if a decision to continue is made prior to V1 the required height above take off surface will be compromised.