Key Commercial Terms Clause Samples
The 'Key Commercial Terms' clause defines the essential business terms that govern the agreement between the parties. This typically includes details such as pricing, payment schedules, delivery timelines, and the scope of goods or services to be provided. By clearly outlining these fundamental terms, the clause ensures both parties have a mutual understanding of their primary obligations and expectations, thereby reducing the risk of disputes and misunderstandings during the contract's execution.
Key Commercial Terms. Scope This Agreement, including the Key Commercial Terms and the MCA Terms and Conditions, shall govern all Activities during the Term (as the terms are defined in the MCA Terms and Conditions). Option Period Aelis Studies Complemental pharmaceutical, clinical and pre-clinical activities to be Phase III ready at completion of Phase lib of AEF0117 in cannabis addiction or other Licensed Compounds (as defined in the License Agreement).
Key Commercial Terms. Annex 7 -....
Key Commercial Terms. Not later than six (6) months prior to the expected date of approval of the Regulatory Filing for each Product, the Parties will enter a commercial agreement for the supply by Flame! or one of its Affiliates or subcontractors to Elan of the extended release active pharmaceutical ingredient for such Product, coated by Flame! or one of its Affiliates or subcontractors with extended-release beads using the Technology ("Coated API"). The commercial agreement for Flamel's or one of its Affiliates' or subcontractors' supply of Coated API to Elan (the "Coated API Agreement") will include the terms set forth in Schedule 5.5 attached hereto and other terms agreed upon by the Parties. CHICAG0\4542184 8 1D\SDS - I 0082 7\000009
Key Commercial Terms. AltaLink desires to enter into a Relationship Agreement with one or more Preferred Proponents to provide the Requested Services for the Term. Specific commercial terms of the Relationship Agreement have not been determined and will be subject to negotiations with the Preferred Proponent(s) following the RFP Stage; however, AltaLink is considering implementing the following concepts that it intends to apply in the Relationship Agreement:
(a) reimbursable pricing for pre-construction work;
(b) target or guaranteed maximum pricing for construction of work;
(c) application of a risk and reward structure to facilitate continuous improvement in performance during the Term. Risk and reward includes metrics applied during construction to safety, quality, cost, and schedule. Recipients are expected in their Submissions to provide input in these areas citing, if applicable, models or structures they have used or are willing to use, as further detailed in the Evaluation Criteria.
Key Commercial Terms. The Agreement provides the Company with a 70-day exclusive due diligence period, which will commence immediately, whereby Savannah will conduct technical, financial, and legal due diligence. Subject to the Company receiving satisfactory results from due diligence, Savannah shall be entitled to trigger the commencement of an exclusive option to purchase the Mining Lease, once granted (‘Option’). The Option expires on 25 June 2019 and, if exercised, Savannah would purchase the Mining Lease, once granted (‘Commitment to Purchase’). The purchase price of the Option is €350,000, payable in instalments. Upon Savannah providing a Commitment to Purchase, the parties shall have a maximum of five years to submit, and to have approved, a mining lease application over the ground. Upon approval of the Mining Lease, Aldeia will apply to register the Mining Lease in the name of a subsidiary of Savannah. The total purchase price for the acquisition of the Mining Lease once granted is €3.25m, which would be paid in monthly instalments following the transfer of the Mining Lease to a wholly owned subsidiary of Savannah. The majority of these payments are expected to be made whilst the Mina do ▇▇▇▇▇▇▇ Project is in production and generating revenue.
Key Commercial Terms. The Airport currently relies on subsidies from the City of New Haven and the State of Connecticut to fund its operations. Annual subsidies are approximately $1.8 million, and the Authority has received more than $30 million in financial support over the last 20 years. Once a lease is finalized based on the signed Letter of Intent, Avports would be responsible for all Airport operating expenses and any ongoing deficits, eliminating any local or state subsidies. During the period of the lease, Avports will assume significant long-term operational risk, and will invest in excess of $100 million in capital. In exchange, Avports shall serve as the independent contractor to the Authority for the operation and management of the Airport for a period of 43 years. At the conclusion of the lease, the improved assets will revert to the full control and ownership of the Authority and the community it serves. The Authority will delegate to Avports the right and obligation to operate the Airport and will appoint Avports to act as the Authority’s agent with respect to day-to-day activities, subject to agreed-upon performance and operating standards with Authority oversight. Avports will report regularly to the Authority to ensure the Airport is operated in accordance with industry practices and FAA, DOT, and TSA requirements and regulations. Given the current financial position of the Authority, it would be impossible for the Authority to complete the required upgrades to realize the goals of the master plan without significant additional funding from the City or State. Under the proposed lease, Avports would assume responsibility for all capital projects and operating expenses, transferring significant financial risk from the Authority, City, and State. During operations, Avports will pay rent and will make revenue-share payments to the Authority. The Authority would use this revenue to fund its operations and oversight functions and any additional funds would be placed in a special Airport reserve fund for unforeseen needs or capital requirements. Avports would also make payments to the Authority to share the proceeds in the event of certain transfers of ownership interests in the company. As required by federal law, all money that the Authority receives from Avports will be used for Airport purposes. It will take several years to receive approvals for and to develop the runway extension and New Terminal. During that time, Avports will upgrade, finance, operate, and mai...