Minimum Development Obligation Sample Clauses

Minimum Development Obligation. Zomedica agrees to select at least [*] distinct assays for development during each of the first seven Contract Years of the Term (the “Assay Development Obligation”); provided, however, that if Zomedica selects more than [*] distinct assays for development during the fourth Contract Year or any subsequent Contract Year, then the number of assays selected by Zomedica in excess of [*] assays in such fourth Contract Year or subsequent Calendar Year (“Excess Selections”) may be carried forward and count towards Zomedica’s satisfaction of the Assay Development Obligation for a future Contract Year. Within 90 days after the Effective Date, and thereafter within 90 days after each successive anniversary of the Effective Date for the first seven Contract Years of the Term, Zomedica will notify Qorvo in writing of the identity of such at least [*] distinct assays (or less than [*], in cases where an Excess Selection may be carried-over from a prior Contract Year in accordance with this Section 3.4 (Minimum Development Obligation)) and such notification will include the Assay Information for each distinct assay. The Parties will meet to discuss in good faith Zomedica’s Assay Development Obligation if Assay development targets are materially delayed or missed due to Qorvo’s actions. The Assay Development Obligation will be deemed fully satisfied if Zomedica selects, and notifies Qorvo of, at least [*] assays for development at any time within the first seven Contract Years of the Term and each of such assays are accepted by Qorvo in accordance with Section 3.3.1 (Request for Development) or are otherwise counted towards the Assay Development Obligation in accordance with Section 3.3.1(2). Until (a) Zomedica has selected and delivered [*] assays to Qorvo for development, and (b) each of such assays has either been accepted by Qorvo or is otherwise counted towards the Assay Development Obligation in accordance with Section 3.3.1(2), if Zomedica fails to select and notify Qorvo of the required number of assays during the first seven Contract Years of the Term in accordance with this Section 3.4 (Minimum Development Obligation), then, within 30 days after the end of each Contract Year during the first seven Contract Years of the Term, Zomedica will pay [*] to Qorvo, for each assay that Zomedica did not select and notify Qorvo of in such Contract Year (after taking into account any Excess Selections that are counted towards Zomedica’s Assay Development Obligation for such...
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Minimum Development Obligation. Lessee is required to sign the development cum lease agreement within 45 days from the date of NoA complying with the conditions set out in the tender document and to obtain all requisite approvals including Environmental Clearance within stipulated time in this agreement. The development period shall be 7 years which shall include the period of obtaining requisite approvals.
Sample 1
Minimum Development Obligation. II.1.1 Developer shall construct, equip, open and thereafter continue to operate at Venues within the Development Area not less than the cumulative number of Coffeehouses within each of the Development Periods specified in Exhibit "B".
Sample 1
Minimum Development Obligation. 2.1.1 Developer shall construct, equip, open and thereafter continue to operate at Venues within the Development Area not less than the cumulative number of Full Service Coffeehouses within each of the Development Periods specified in Exhibit “B”.
Sample 1
Minimum Development Obligation. (a) Subfranchisor shall construct, equip, open and continue to operate, and procure, screen, qualify, train and assist Subfranchisees to construct, equip, open and operate, within the Development Area, not less than the cumulative number of [FRANCHISED BUSINESSES] set forth in Exhibit “B”, which is annexed hereto and by this reference made a part hereof, in the manner and within each of the time periods (the “Development Periods”) specified therein (the “Minimum Development Obligation”).
Sample 1

Related to Minimum Development Obligation

  • Development Obligations 1. The College supports the development, production, and dissemination of copyrightable, trademarkable, patentable, and other intellectual properties by its employees.

  • Client Obligations 3.1 The Client shall:

  • Payment Obligations Absolute The Company’s obligation during and after the Employment Period to pay the Executive the amounts and to make the benefit and other arrangements provided herein shall be absolute and unconditional and shall not be affected by any circumstances, including, without limitation, any setoff, counterclaim, recoupment, defense or other right which the Company may have against him or anyone else. Except as provided in Section 15, all amounts payable by the Company hereunder shall be paid without notice or demand. Each and every payment made hereunder by the Company shall be final, and the Company will not seek to recover all or any part of such payment from the Executive, or from whomsoever may be entitled thereto, for any reason whatsoever.

  • Nature of Reimbursement Obligations The Borrower and, to the extent set forth in Section 2.6.1, each Lender with a Revolving Loan Commitment, shall assume all risks of the acts, omissions or misuse of any Letter of Credit by the beneficiary thereof. The Issuer (except to the extent of its own gross negligence or willful misconduct) shall not be responsible for:

  • Unpaid Reimbursement Obligation Any Reimbursement Obligation for which the Borrower does not reimburse the Agent and the Banks on the date specified in, and in accordance with, Section 4.2.

  • Independent Obligation The obligations of each Guarantor hereunder are independent of the obligations of any other Guarantor or the Borrower, and a separate action or actions may be brought and prosecuted against each Guarantor whether or not action is brought against any other Guarantor or the Borrower and whether or not any other Guarantor or the Borrower is joined in any such action or actions.

  • Independent Obligations The Guarantor acknowledges that its obligations hereunder are independent of the obligations of the Issuer with respect to the Capital Securities and that the Guarantor shall be liable as principal and as debtor hereunder to make Guarantee Payments pursuant to the terms of this Guarantee notwithstanding the occurrence of any event referred to in subsections (a) through (g), inclusive, of Section 4.3 hereof.

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