Acknowledgment Regarding Compensation Clause Samples

Acknowledgment Regarding Compensation. Kaurna acknowledges and agrees that: (a) any amounts payable and any benefits provided under or pursuant to this ILUA to the Kaurna do not constitute satisfaction of any compensation rights or entitlement to which the Kaurna would be entitled whether under the Native Title Act, common law, equity, any other statute or otherwise in respect of any act affecting the native title rights and interests of the Kaurna done by the State of South Australia or by the Councils prior to or after the commencement date of this ILUA; (b) the State of South Australia is solely liable for any and all compensation rights or entitlement to which the Kaurna are entitled whether under the Native Title Act, common law, equity, any other statute or otherwise in respect of any act affecting the native title rights and interests of the Kaurna done by the Councils prior to or after the commencement date of this ILUA; and (c) the amounts and benefits provided under or pursuant to this ILUA to the Kaurna are not compensation, for the purposes of section 24EB of the Native Title Act.

Acknowledgment Regarding Compensation. (a) BMS acknowledges that the Zymo IP and assistance pursuant to this Agreement constitute valuable intellectual property, trade secrets and know-how of Zymo. The parties acknowledge and agree that, for their mutual convenience and after considering other alternatives, the payments to ZG LLC set forth in this Agreement, including Article Eight and this Article Nine, and the timing of payments (including the duration of the Royalty Period) are an appropriate and mutually convenient way of compensating ZG LLC. (b) As of the Effective Date ZG LLC is the owner of the Core Patents and, in addition, has a nonexclusive license, with right to grant sublicenses, to the Zymo IP (other than the Core Patents). Consequently, ZG LLC is to receive the initial license fee, all Milestone Payments, all royalties and Net Profits.