Basic Grant Sample Clauses

Basic Grant. ZLand grants to Franchisee, for a stated term, the right, licence, and privilege to operate as a ZLand franchisee, including the following rights, licences and privileges: (i) to adopt and use the ZLand System in the Territory; (ii) to advertise to the public that Franchisee is a franchisee of ZLand's; (iii) to adopt and use, but only in connection with the sale of those products and services which have been designated by ZLand for use in the Territory, the trade names, trademarks and service marks (iv) to operate the Territory under the ZLand System from premises acceptable to ZLand (the "Premises"). ZLand shall not operate, nor authorise any other ZLand franchisee to operate, at premises physically situated within the Territory. ZLand shall not sell, nor authorise any other ZLand franchisee to sell, to accounts physically situated within the Territory. ZLand shall give all leads pertaining to ZLand business in the Territory only to Franchisee. ZLand authorises Franchisee to call on all accounts, except those that qualify as a major account as described in paragraph 9 (which sets forth the rules relating to those particular accounts) within the Territory. Franchisee shall be responsible for such account contracts and also have the right to the Gross Profits from such accountcontracts for the term of said contracts. Franchisee shall not operate from any premises physically situated outside the Territory whether it be a main office or satellite office. Franchisee shall not call on or market directly to, no matter what the method, accounts that are in another ZLand franchisee's territories or which Franchisee or Franchisee's sales people cannot 1) reasonably drive to from the Premises in the Territory and 2) reasonably provide quality service from the Premises in the Territory.
Sample 1
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Basic Grant. Subject to the terms and conditions of this Agreement, Symbollon grants to B&L a sole and exclusive license under the Licensed Patents and Symbollon's Proprietary Information relating to iodine to make, have made on behalf of B&L, use, offer to sell, sell and import Products in the Territory for use in the Field, with the right to grant sublicenses limited to co-promotion or co-marketing arrangements pursuant to Section 4.2(b).
Sample 1
Basic Grant. Safetech does hereby grant, and Retrac does hereby accept, subject to the terms and conditions of this Agreement, an exclusive license to make, use, sell and offer for sale, in the United States and in all foreign countries and jurisdictions, devices and methods embodying subject matter claimed in any and all valid and enforceable claims of the Licensed Subject Matter, and the exclusive fight to use, in the U.S. and in all foreign countries and jurisdictions, the Resources.
Sample 1
Basic Grant. Subject to the terms and conditions of this Agreement, Symbollon grants to BioCide a sole and exclusive license under the Licensed Patents and Symbollon's Proprietary Information relating to iodine to make, have made on behalf of BioCide, use, offer to sell, sell and import Products in the Territory for use in the Field, with the right to grant sublicenses. Such license shall include a right to reference and use of such Symbollon data, including all animal studies and in vivo data, as may be required to support the commercialization of Products in the Field.
Sample 1
Basic Grant. The Company hereby grants to you, effective on the execution of this Agreement, options (the "Options") to purchase a total of 50,000 shares of Common Stock (the "Option Shares"), at the purchase price determined as provided herein, pursuant to the terms and conditions of that certain Stock Option Agreement attached hereto as Exhibit A, and in all respects subject to the terms, definitions and provisions of the Company's 1994 Stock Option Plan (the "Plan"). Unless otherwise defined herein, the terms defined in the Plan shall have the same defined meanings herein.
Sample 1
Basic Grant. Subject to the terms and conditions of this Agreement, Symbollon grants to Kushi a non-exclusive license under the Licensed Patents and Symbollon's Proprietary Information relating to molecular iodine to develop Products in the Territory for use in the Field. Such license shall include a right to reference and use of such Symbollon data, including all animal studies and in vivo data, as may be required to support the commercialization of Products in the Field. To the extent that any Product is developed under this Agreement, the parties agree that Symbollon will have the right to the manufacture such Product and sell such Product to Kushi for use in the Field under terms and conditions acceptable to the parties.
Sample 1
Basic Grant. ZLand grants to Franchisee, for the term stated in this Agreement, the right, license and privilege to operate as a ZLand Franchisee, which includes the following rights, licenses and privileges: (i) to adopt and use the ZLand System in the Territory in connection with the sale of those products and in connection with those services which have been designated by ZLand; (ii) to advertise to the public that Franchisee is a Franchisee of ZLand; (iii) to operate the Territory under the ZLand System from the premises. ZLand shall not operate, nor authorize any other ZLand franchisee to operate, at premises physically situated within the Territory. ZLand shall not actively sell, nor authorize any other ZLand franchisee to actively sell, to accounts physically situated within the Territory. ZLand and other ZLand franchisees shall, however, be able to sell to accounts located within the Territory, if, and inasfar as ZLand respectively other ZLand franchisees are not actively selling to such accounts. Franchisee shall not operate from any premises other than the premises that have been approved by ZLand in writing. Franchisee has received international disclosure documentation from ZLand describing the franchise and ZLand System, and has conducted its own review of the feasibility of the franchise in the Territory. Franchisee acknowledges its understanding of ZLand's basic business policy that ZLand will grant franchises only to those individuals who will work full time (or hire an acceptable full time manager) in the operation of their franchised ZLand Business. Thus, Franchisee shall either by herself/himself work full time or hire an acceptable full time manager in the operation of their franchised ZLand Business.
Sample 1
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Basic Grant. ZLanx.xxx xxxnts to Franchisee, for a stated term, the right, license and privilege to operate as a ZLanx.xxx xxxnchisee. This includes the following rights, licenses and privileges: (i) to adopt and use the ZLanx.xxx Xxxtem in the Territory; (ii) to advertise to the public that Franchisee is a ZLanx.xxx franchisee; (iii) to adopt and use, but only in connection with the sale of those products and services which have been designated by ZLanx.xxx xxx use in the Territory, the trade names, trademarks and service marks which ZLanx.xxx xxxll designate, from time to time, to be part of the ZLanx.xxx Xxxtem (the "ZLanx.xxx Xxxks"; and (iv) to operate the ZLanx.xxx Xxxtem in the Territory. Except as otherwise specifically authorized in this Agreement (for example with respect to the ZLanx.xxx Xxxeller Program described in paragraph 9 hereof), ZLanx.xxx xxxll not (A) operate, nor authorize any other ZLanx.xxx xxxnchisee to operate within the Territory, nor (B) sell, nor authorize any other ZLanx.xxx franchisee to sell, to accounts physically situated within the Territory. ZLanx.xxx xxxll give all leads pertaining to ZLanx.xxx xxxiness in the Territory only to Franchisee. ZLanx.xxx xxxhorizes Franchisee to call on all accounts, except those that qualify as a major account as described in paragraph 9 (which sets forth the rules relating to those particular accounts) within the Territory. Franchisee shall be responsible for such account contracts and also have the right to the Gross Profits from such account contracts for the term of said contracts. Franchisee shall not operate from any premises physically situated outside the Territory whether a main office or satellite office. Franchisee shall not call on or market directly to, no matter what the method, accounts that are in another ZLanx.xxx xxxnchisee's territories or which Franchisee or Franchisee's sales people cannot 1) reasonably drive to from the Territory and 2) reasonably provide quality service from the Territory.
Sample 1

Related to Basic Grant

  • Payment of Award (a) Subject to §6(b), the total number of Restricted Stock Units (and related Dividend Equivalent Rights) which vest, if any, in accordance with §3, §4, or §5 of this Unit Agreement (the “Vested Units”) shall be paid in an equivalent number of shares of Stock on the specified dates, as follows: 33⅓% shall be paid on the first anniversary of the Grant Date; 33⅓% shall be paid on the second anniversary of the Grant Date; 33⅓% shall be paid on the third anniversary of the Grant Date. Payments made pursuant to this sub-paragraph (a) will deemed to be made on the specified date if such payment are made within the sixty (60) day period which commences immediately following the specified date. (b) Notwithstanding the specified dates set forth in §6(a), the total number of Vested Units shall be distributed in an equivalent number of shares of Stock upon the earliest to occur of the following: (i) the date of the Grantee’s death, (ii) the date of the Grantee’s Disability, or (iii) if prior to the date a Grantee becomes eligible for Retirement, the date of the Grantee’s Separation from Service. In the event payment is made pursuant to this sub-paragraph (b) such payment shall be made within the sixty (60) day period which commences immediately following the date of the applicable event. (c) Except as set forth below, the Vested Units shall be distributed in an equivalent number of shares of Stock; provided, however, the Grantee’s right to any fractional share of Stock shall be paid in cash. In the event the Restricted Stock Units (and related Dividend Equivalent Rights) vest following a Change in Control pursuant to § 4, the Vested Units shall be paid in cash, and the amount of the payment for each Vested Unit to be paid in cash will equal the Fair Market Value of a share of Stock on the date of the Change in Control. (d) Notwithstanding anything herein to the contrary, distributions may not be made to a Key Employee upon a Separation from Service before the date which is six (6) months after the date of the Key Employee’s Separation from Service (or, if earlier, the date of death of the Key Employee). Any payments that would otherwise be made during this period of delay shall be accumulated and paid in the seventh month following the Grantee’s Separation from Service. (e) The Grantee shall be entitled to a Dividend Equivalent Right for each Vested Unit. At the same time that the Vested Units are paid, SunTrust shall pay each Dividend Equivalent Right in shares of Stock to the Grantee, provided, however, the Grantee’s right to any fractional share of Stock shall be paid in cash. In the event the Restricted Stock Units vest pursuant to §4, related Dividend Equivalent Rights shall be paid in cash. (f) The Grantee will not have any shareholder rights with respect to the Restricted Stock Units, including the right to vote or receive dividends, unless and until shares of Stock are issued to the Grantee as payment of the vested Restricted Stock Units.

  • Forfeiture of Award Section 4.1 If, at any time during the Award Recipient’s tenure as a director of the Company or within 18 months after termination of such tenure, the Award Recipient engages in any activity in competition with any activity of CenturyTel or its subsidiaries (collectively, the “Company”), or inimical, contrary or harmful to the interests of the Company, including but not limited to: (a) conduct relating to the Award Recipient’s service on the Board for which either criminal or civil penalties against the Award Recipient may be sought, (b) conduct or activity that results in removal of the Award Recipient from the Board for cause, (c) violation of the Company’s policies, including, without limitation, the Company’s xxxxxxx xxxxxxx policy or corporate compliance program, (d) accepting employment after the date hereof with, acquiring a 5% or more equity or participation interest in, serving as a consultant, advisor, director or agent of, directly or indirectly soliciting or recruiting any officer of the Company who was employed at any time during the Award Recipient’s service on the Board, or otherwise assisting in any other capacity or manner any company or enterprise that is directly or indirectly in competition with or acting against the interests of the Company or any of its lines of business (a “competitor”), except for (A) any employment, investment, service, assistance or other activity that is undertaken at the request or with the written permission of the CenturyTel Board of Directors or (B) any assistance of a competitor that is provided in the ordinary course of the Award Recipient engaging in his or her principal occupation in the good faith and reasonable belief that such assistance will neither harm the Company’s interests in any substantial manner or violate any of the Award Recipient’s duties or responsibilities under the Company’s policies or applicable law, (e) disclosing or misusing any confidential information or material concerning the Company, (f) engaging in, promoting, assisting or otherwise participating in a hostile takeover attempt of the Company or any other transaction or proxy contest that could reasonably be expected to result in a Change of Control (as defined in the Plan) not approved by the CenturyTel Board of Directors or (g) making any statement or disclosing any information to any customers, suppliers, lessors, lessees, licensors, licensees, regulators, employees or others with whom the Company engages in business that is defamatory or derogatory with respect to the business, operations, technology, management, or other employees of the Company, or taking any other action that could reasonably be expected to injure the Company in its business relationships with any of the foregoing parties or result in any other detrimental effect on the Company, then (i) all unvested shares of Restricted Stock granted hereunder shall automatically terminate and be forfeited effective on the date on which the Award Recipient first engages in such activity and (ii) all shares of Common Stock acquired by the Award Recipient upon vesting of the Restricted Stock hereunder after the date that precedes by one year the date on which the Award Recipient’s tenure as a director of the Company terminated or the date the Award Recipient first engaged in such activity if no such termination occurs (or other securities into which such shares have been converted or exchanged) shall be returned to the Company or, if no longer held by the Award Recipient, the Award Recipient shall return to the Company, without interest, all cash, securities or other assets received by the Award Recipient upon the sale or transfer of such stock or securities. Section 4.2 If the Award Recipient owes any amount to the Company under Section 4.1 above, the Award Recipient acknowledges that the Company may, to the fullest extent permitted by applicable law, deduct such amount from any amounts the Company owes the Award Recipient from time to time for any reason (including without limitation amounts owed to the Award Recipient as directors fees, reimbursements, retirement payments, or other compensation or benefits). Whether or not the Company elects to make any such set-off in whole or in part, if the Company does not recover by means of set-off the full amount the Award Recipient owes it, the Award Recipient hereby agrees to pay immediately the unpaid balance to the Company. Section 4.3 The Award Recipient may be released from the Award Recipient’s obligations under Sections 4.1 and 4.2 above only if the CenturyTel Board of Directors determines in its sole discretion that such action is in the best interests of the Company.

  • Termination of Award In the event that the Employee shall forfeit all or a portion of the restricted stock units subject to the Award, the Employee shall promptly return this Agreement to the Company for cancellation. Such cancellation shall be effective regardless of whether the Employee returns this Agreement.

  • Discretionary Bonus The Executive shall be entitled to participate in an equitable manner with all other senior management employees of the Bank in discretionary bonuses that may be authorized and declared by the Board of Directors to its senior management executives from time to time. No other compensation provided for in this Agreement shall be deemed a substitute for the Executive's right to participate in such discretionary bonuses when and as declared by the Board.

  • Salary Benefits and Bonus Compensation 3.1 BASE SALARY. Effective July 1, 2000, as payment for the services to be rendered by the Employee as provided in Section 1 and subject to the terms and conditions of Section 2, the Employer agrees to pay to the Employee a "Base Salary" at the rate of $180,000 per annum, payable in equal bi-weekly installments. The Base Salary for each calendar year (or proration thereof) beginning January 1, 2001 shall be determined by the Board of Directors of Avocent Corporation upon a recommendation of the Compensation Committee of Avocent Corporation (the "Compensation Committee"), which shall authorize an increase in the Employee's Base Salary in an amount which, at a minimum, shall be equal to the cumulative cost-of-living increment on the Base Salary as reported in the "Consumer Price Index, Huntsville, Alabama, All Items," published by the U.S. Department of Labor (using July 1, 2000, as the base date for computation prorated for any partial year). The Employee's Base Salary shall be reviewed annually by the Board of Directors and the Compensation Committee of Avocent Corporation.

  • Annual Fixed Rent Tenant covenants and agrees to pay the Annual Fixed Rent in Section 1.1 to Landlord in advance in equal monthly installments commencing on the Term Commencement Date (if not the first day of a month) and thereafter on the first day of each calendar month during the Term. All payments shall be due without billing or demand and without deduction, setoff or counterclaim, except as expressly set forth in this Lease. Tenant shall make payment for any portion of a month at the beginning or end of the Term. All payments shall be payable to Landlord at Landlord’s address, as specified in Section 1.1, or to such other entities at such other places as Landlord may from time to time designate. Without limiting the foregoing, except as expressly set forth in this Lease, Tenant’s obligation so to pay Rent (as hereinafter defined) shall not be discharged or otherwise affected by any law or regulation now or hereafter applicable to the Premises, or any other restriction on Tenant’s use, or any casualty or taking, or any failure by Landlord to perform any covenant contained herein, or any other occurrence; and, except as expressly set forth in this Lease, Tenant waives all rights now or hereafter existing to terminate or cancel this Lease or quit or surrender the Premises or any part thereof, or to assert any defense in the nature of constructive eviction to any action seeking to recover Rent. The foregoing notwithstanding, if Landlord fails for any reason within Landlord’s control to provide any service to be supplied by Landlord under the Lease which is necessary for Tenant’s reasonable use of the Premises (such as HVAC, elevator service, electricity, water, or structural repairs), and Tenant is unable to use the Premises on account of such failure, Tenant shall be entitled to a proportional abatement of Annual Fixed Rent and Additional Charges for Operating Expenses and Taxes based on the portion of the Premises which cannot be used by Tenant. This abatement shall begin on the fourth (4th) consecutive Business Day from Tenant’s written notice to Landlord of the failure. The abatement shall end when the services are restored sufficiently to permit use of the Premises.

  • Change in Control Benefit If a Change in Control occurs followed within twenty-four (24) months by Separation from Service prior to Normal Retirement Age, the Bank shall distribute to the Executive the benefit described in this Section 2.4 in lieu of any other benefit under this Article.

  • Stock Grant Subject to the terms of the Plan, a copy of which has been provided to the Employee and is incorporated herein by reference, the Company grants to the Employee _________ shares of the common stock of the Company, subject to the terms and conditions and restrictions set forth below. If at any time while this Agreement is in effect (or shares of common stock granted hereunder shall be or remain unvested while Employee’s employment continues and has not yet terminated or ceased for any reason), there shall be any increase or decrease in the number of issued and outstanding shares of the Company through the declaration of a stock dividend or through any recapitalization resulting in a stock split-up, combination or exchange of such shares, then the Committee shall make any adjustments it deems fair and appropriate (in view of such change) in the number of shares of common stock then subject to this Agreement. If any such adjustment shall result in a fractional share, such fraction shall be disregarded.

  • Basic Compensation (a) SALARY. Executive will be paid an annual base salary of $115,000.00, subject to adjustment as provided below (the "Salary"), which will be payable in equal periodic installments according to Employer's customary payroll practices, but no less frequently than monthly. The Salary will be reviewed by the Board of Directors not less frequently than annually, and shall be increased on each anniversary of the Effective Date during the term hereof by an amount equal to not less than ten percent (10%) of the prior year's base salary.

  • Allocation of Award The total Award made with respect to the Leased Property or for loss of rent, or for Lessor’s loss of business beyond the Term, shall be solely the property of and payable to Lessor. Any Award made for loss of Lessee’s business during the remaining Term, if any, for the taking of Lessee’s Personal Property, or for removal and relocation expenses of Lessee in any such proceedings shall be the sole property of and payable to Lessee. In any Condemnation proceedings Lessor and Lessee shall each seek its Award in conformity herewith, at its respective expense; provided, however, Lessee shall not initiate, prosecute or acquiesce in any proceedings that may result in a diminution of any Award payable to Lessor.

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