AUTHORIZED USER TECHNOLOGY Sample Clauses

AUTHORIZED USER TECHNOLOGY. Smixx & Wesson shall commit two percent of annual firearms sales revenues to the development of a technology that recognizes only authorized users and permits a handgun to be used only by authorized persons. Within 36 months of execution of this Agreement, Smixx & Wesson shall use its best efforts to incorporate this technology in all new handgun designs, with the exception of curios and collectors' handguns. This requirement does not apply to existing designs currently in production. If it is not technologically, mechanically, or fiscally feasible to incorporate this technology into all new handgun designs within 36 months, Smixx & Wesson will continue to commit two percent of annual firearms revenues to the development of this technology or an alternate technology agreed upon by the parties to this Agreement.
Sample 1
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AUTHORIZED USER TECHNOLOGY. The manufacturer parties to this Agreement shall each commit two percent of annual firearms sales revenues to the development of a technology that recognizes only authorized users and permits a gun to be used only by authorized persons. Within 36 months of the date of execution of this Agreement, this technology shall be incorporated in all new firearm designs, with the exception of curios and collectors' firearms. This requirement does not apply to existing designs currently in production. If the eight firearms manufacturers and/or importers with the largest United States firearms sales volume agree to incorporate authorized user technology in all firearms, the manufacturer parties to this Agreement will incorporate authorized user technology in all firearms.
Sample 1

Related to AUTHORIZED USER TECHNOLOGY

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  • Third Party Technology The assignment of any applicable license agreements with respect to Third Party Technology are set forth in the General Assignment and Assumption Agreement.

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