Conditions of Funding. 4.1 If Capital (i) ceases to undertake the Project for any reason, or (ii) if this Agreement is terminated, and at the relevant time Capital has not spent all of the Funding, Capital shall promptly repay such unspent portion of the Funding to Conduit. 4.2 Capital shall only use any equipment purchased using the Funding for the Project in accordance with this Agreement, or as otherwise permitted in writing by Conduit. 4.3 Capital shall comply with all applicable law, regulatory requirements and ethical guidelines and principles in conducting the Project. 4.4 If to enable Capital to undertake the Project, Capital needs to enter into any agreements with any Third Party where the Funding will be used to pay any amounts due to such Third Parties or where any Intellectual Property generated using the Funding will be provided to such Third Parties (including license agreements in respect of any Intellectual Property), Conduit shall have the right to approve any such proposed Third Party agreements.
Appears in 5 contracts
Samples: Project Funding Agreement (Murphy Canyon Acquisition Corp.), Project Funding Agreement (Murphy Canyon Acquisition Corp.), Project Funding Agreement (Murphy Canyon Acquisition Corp.)
