New Terms. The following shall be deemed added to Section 1.1 of the Credit Agreement in the appropriate alphabetical order:
New Terms. Termination for Convenience – one way Termination for Convenience From [three (3) months] following the Commencement Date, Supplier may at any time terminate this Agreement for convenience without liability to Customer by providing at least [three (3) months'] written notice to Customer. Termination for Convenience – mutual Termination for Convenience Save as otherwise provided by this paragraph, either party may at any time terminate any SOW for convenience at any time following [insert] from the relevant SOW Commencement Date without liability to the other party by providing at least [insert] written notice to the other party. If Customer exercises its right under paragraph 2.1 above, Customer shall be liable to pay the Termination for Convenience Fees. The "Termination for Convenience Fees" are as follows: [insert]. Warranties Warranties Customer warrants that it is duly incorporated and validly existing under the laws of England and Wales and is fully qualified and empowered to own its assets and carry on its business. Each party warrants that it has the requisite power, capacity, right, authority and any authorisation required by Applicable Laws and/or regulation to enter into and perform its obligations under this Agreement, and this Agreement, when executed, will constitute valid, lawful and binding obligations on it, enforceable in accordance with its terms. Insurance Insurance Supplier shall put in place and maintain for the Term and for a period of at least [two (2)] years afterwards, appropriate insurance policies in relation to the risks set out in paragraph 4.2 below with a reputable insurance company in respect of the performance of the Services, providing for the payment of a sum up to the amount stated in paragraph 4.2 below in aggregate of all claims. The policies and the amounts referred to in paragraph 3 are as follows: public liability for all risks: [●]; and professional indemnity: [●]. Supplier shall provide Customer with a certificate from its insurers upon Customer's reasonable request confirming that Supplier has valid insurance of the types and covering the amounts set out in paragraph 4.2 above.
New Terms. The following terms in this Agreement supplement, modify, or change the terms of the Existing Agreement:
New Terms. As used in this Amendment, the following terms shall --------- have the following meanings (references in this Section 1.03 to "Section" shall be references to Sections of this Amendment):
New Terms. Appendix II is hereby replaced in its entirety by the following Amended Appendix II. Pursuant to this Amended Appendix II, effective upon OBC’s receipt of the initial twenty thousand US dollar (US$20,000) payment, the running royalty to be paid by TMK on the Net Selling Price of its Licensed Consumer Batteries shall be 2.5% . Amended Appendix II Cumulative Running Payment Up-front Up-front Royalty Schedule Payment Payment Rate May, 2009 US$20K US$20K 2.5% August, 2009 US$40K US$60K 2.5% December, 2009 US$40K US$100K 2.5% February 1, 2010*(see Section 2.3) 0 US$100K 2.0% Future Royalty Reductions and Up-front Fees Gross Sales reach $30M/Yr US$200K US$300K 1.5% Gross Sales reach $50M/Yr US$500K US$800K 0.50% Gross Sales reach $75M/Yr US$1M US$1.8M 0.50% Gross Sales reach $150M/Yr US$1.5M US$3.3M 0.50% Gross Sales reach $250M/Yr US$1.7M US$5M 0.50%
New Terms. As used in this Amendment and in the Loan Agreement, the following terms shall have the following meanings (references in this Section 1.03 to "Section" shall be references to Sections of this Amendment):
New Terms. The following defined terms are added to Section 5.0.0.0: “FS2 Base Amount” means $503,237 and “FS3 Base Amount” means $185,419, and the following defined terms are added:
New Terms. There shall be added to Section 1.1 of the Credit Agreement a new defined term, "Equity Forward Contract," to read as follows:
New Terms. The following capitalized words and phrases shall have the following meanings when used in this Agreement:
New Terms. The following terms shall have the following respective meanings:
