Common use of License Order Clause in Contracts

License Order. a. On or before the Effective Date, with the approval of NRC and in accordance with the Atomic Energy Act, and applicable regulations in 10 C.F.R. Part 70, the Radioactive Materials License SNM-928 held by Cimarron Corporation (the “Cimarron License”) shall either: (i) be transferred to the Cimarron Trust; (ii) be transferred to the Cimarron Trustee identified in Paragraph 53; or (iii) be transferred to a person or entity retained by the Cimarron Trustee and approved by NRC to hold the Cimarron License (“Cimarron Licensee”), pursuant to an Order Transferring License (“License Order”) issued by the NRC.

Appears in 4 contracts

Samples: Settlement Agreement, Settlement Agreement, Settlement Agreement

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