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For more information visit our privacy policy.The Concession 3.1.1 Subject to and in accordance with the provisions of this Agreement, the Applicable Laws and the Applicable Permits, Maha-Metro hereby grants to the Concessionaire the concession set forth herein including the exclusive right, licence and authority to develop/construct, operate and maintain the Project (the “Concession”) for a period of 60 (sixty) years commencing from the Effective Date, and the Concessionaire hereby accepts the Concession and agrees to implement the Project subject to and in accordance with the terms and conditions set forth herein; 3.1.2 Subject to and in accordance with the provisions of this Agreement, the Concession hereby granted shall oblige or entitle (as the case may be) the Concessionaire to: (a) Right of Way, access and lease rights to the Project Site for the purpose of and to the extent conferred by the provisions of this Agreement; (b) to design, engineer, finance, procure and construct the Project; (c) manage, operate and maintain the Project and regulate the use thereof by third parties; (d) demand, collect and appropriate revenue from the Users for using the Project Assets or any part thereof; (e) perform and fulfil all the Concessionaire’s obligations under and in accordance with this Agreement; (f) bear and pay all costs, expenses and charges in connection with or incidental to the performance of the obligations of the Concessionaire under this Agreement; and (g) neither assign, transfer or sublet or create any lien or Encumbrance on this Agreement, or the Concession hereby granted or on the whole or any part of the Project nor transfer, lease or part possession thereof, save and except as expressly permitted by this Agreement. 3.1.3 The Concession Period shall commence on the Effective Date and shall end on the Transfer Date.
Concessions Given current market conditions, the State is very interested in acquiring market concessions for this transaction. Any concessions, especially the timing of such, will be a major factor in assessing proposals received. Concessions may include reduced rent, free rent, moving allowances or any other item you are willing to incorporate into the proposal. Clearly a combination of these items may be included also.
No Contracts No agreements, undertakings or contracts affecting the Property, written or oral, will be in existence as of the Closing, except as set forth on the Certification of Operating Contracts, and true and correct copies of such contracts have been delivered to Purchaser. With respect to any such contracts set forth on the Certification of Operating Contracts, each such contract is valid and binding on the Seller and is in full force and effect in all material respects. Neither Seller and to the knowledge of Seller, no other party to any such contract has breached or defaulted under the terms of such contract, except for such breaches or defaults that would not, individually or in the aggregate, have a material adverse effect on the business or operations of the Property.
Concession A concession by the Borrower, after applicable notice and cure periods, under any one or more obligations in an aggregate monetary amount in excess of $100,000.
No Consents The Servicer is not required to obtain the consent of any other party or any consent, license, approval or authorization, or registration or declaration with, any governmental authority, bureau or agency in connection with the execution, delivery, performance, validity or enforceability of this Agreement which has not already been obtained.
Grant of Concession 2.1.1 Pursuant to the provisions of the Act and subject to the terms and conditions of the CDA Documents, including Section 2.1.8, TxDOT hereby grants to Developer the exclusive right, and Developer accepts the obligation, to finance, develop, design and construct the Project described in Section 1 of the Technical Provisions, and to enter into the Lease in the form attached as Exhibit 3 for the Project and Project Right of Way. 2.1.2 From and after issuance of NTP1, Developer and its authorized Developer- Related Entities shall have the right and license to enter onto Project Right of Way and other lands owned by TxDOT for purposes of carrying out its obligations under this Agreement. 2.1.3 TxDOT and Xxxxxxxxx acknowledge that they have executed two counterparts of the Lease and one counterpart of the Memorandum of Lease and placed them in a neutral escrow for safekeeping pursuant to the Lease Escrow Agreement. Upon the Operating Commencement Date that first occurs, but not before then, and as a ministerial act, TxDOT and Developer shall date the Lease and Memorandum of Lease, obtain acknowledgment of their signatures on the Memorandum of Lease by a Texas notary public, attach all legal descriptions pertaining to the Section for which the first Operating Commencement Date occurs, and each Party shall deliver to the other Party, and the other Party shall accept, the Lease and Memorandum of Lease, whereupon the Lease shall take effect and the right of entry under Section 2.1.2 shall automatically cease to have effect as to the Section for which the first Operating Commencement Date occurs (but continue in effect for all other Sections). Developer, at its expense, shall have the right to record the Memorandum of Lease upon its delivery to Developer, and shall promptly deliver to TxDOT a conformed copy of the Memorandum of Lease bearing all recording information. 2.1.4 Upon the Operating Commencement Date for each additional Section, but not before then, and as a ministerial act, TxDOT and Developer shall date and execute an Amendment to Lease and Amendment to Memorandum of Lease, each in the form attached to this Agreement as Exhibit 3, obtain acknowledgment of their signatures on the Amendment to Memorandum of Lease by a Texas notary public, attach all legal descriptions pertaining to the Section, and each Party shall deliver to the other Party, and the other Party shall accept, the Amendment to Lease and Amendment to Memorandum of Lease, whereupon the Amendment to Lease shall take effect and the right of entry under Section 2.1.2 shall automatically cease to have effect as to each Section that is the subject of the Amendment to Lease (but continue in effect for all other Sections, if any). Developer, at its expense, shall have the right to record the Amendment to Memorandum of Lease upon its delivery to Developer, and shall promptly deliver to TxDOT a conformed copy of the Amendment to Memorandum of Lease bearing all recording information. 2.1.5 Developer shall have the exclusive right and obligation, during the Operating Period for each Section, to use, manage, operate, maintain and repair the applicable Section, and to perform Renewal Work and Upgrades, pursuant to the terms of this Agreement, the other CDA Documents and the Principal Project Documents. 2.1.6 Developer shall have the exclusive right and obligation, for each Project Segment, commencing on the Service Commencement Date for the Project Segment and ending at the end of the Term, to toll the Managed Lanes of the Project Segment pursuant to the terms of this Agreement, the other CDA Documents and the Principal Project Documents. 2.1.7 Developer’s rights granted in this Section 2.1 are limited by and subject to the terms and conditions of the CDA Documents, including the following: 2.1.7.1 Receipt of all Governmental Approvals necessary for the Work to be performed and satisfaction of any requirements applicable under the Governmental Approvals (including the NEPA Approval) for the Work to be performed; and 2.1.7.2 TxDOT’s sole ownership of fee simple title to the Project and Project Right of Way and all improvements constructed thereon, subject to Developer’s Interest, including Developer’s leasehold estate under the Lease. 2.1.8 If and only if TxDOT issues NTP3 under Section 7.7.2.3, all provisions in the CDA Documents regarding the IH 35E Capacity Improvement Section are deemed to be effective as of the effective date of issuance of NTP3; otherwise all such provisions are deemed not to be in effect.
Sub-licensing Nuvectis may grant sub-licences (through multiple tiers) of its rights under this Agreement, provided that: (1) the granting of any sub-licences shall not relieve Nuvectis of any obligations or duties imposed on it under this Agreement; (2) it shall not grant or allow the grant of any sub-licences to (i) a tobacco company (being any entity identified as such in the Cancer Research UK Code of Practice on Tobacco Industry Funding to Universities); or (ii) a party which is actively and/or currently engaged in the manufacture, production or sale of weapons or ammunition; (3) subject to the provisions of Clause 2.5, such sub-licence shall be on arm’s length commercial terms reflecting the market value of the rights granted; (4) [***]; (5) [***]; (6) Nuvectis shall ensure that there are included in any sub-licence terms which shall enable Nuvectis to comply with its obligations under this Agreement; (7) subject to the provisions of clause 12.6, each sub-licence shall, and shall be expressed in each sub-licence agreement to, terminate automatically upon termination of the license under clause 2.1 and/or any commercial licence to the Collaboration Option IP; (8) [***]; (9) it shall diligently collect all amounts due under each sub-licence; (10) Nuvectis shall ensure that each Sub-Licence does not prohibit Nuvectis’s grant and the implementation of any [***] hereunder; (11) it shall be responsible for any breach of the sub-licence by the Sub-Licensee of Licensed Products and/or Additional Licensed Products, as if the breach had been that of Nuvectis under this Agreement; (12) the grant of any sub-licence shall be without prejudice to Nuvectis’s obligations under this Agreement. Any act or omission of any Sub-Licensee which, if it were the act or omission of Nuvectis would be a breach of any of the provisions of this Agreement, will be deemed to be a breach of this Agreement by Nuvectis who will be liable to the University accordingly; (13) the obligations in Clause 2.4 (3), (4), (5), (6) (excluding the development and commercialisation obligations set out in Clause 5.1), (8) and (9) shall not apply in relation to agreements that Nuvectis and/or a Sub-Licensee enters into with Third Party Service Providers, provided that: (a) such agreements relate to the provision of research, development and/or manufacturing services to Nuvectis and/or a Sub-Licensee in connection with Licensed Products and/or Additional Licensed Products; and (b) no rights are granted to such Third Party Service Providers to: (i) research, develop or manufacture its own products; and/or (ii) sell the Licensed Products and/or Additional Licensed Products; (14) each subclause of this Clause 2.4 shall apply to each tier of sub-licence unless expressly stated otherwise.
SUB-LETTING This Rental Agreement shall not be assigned nor shall the premises be sub-let without written consent of the Landlord.
No Commissions Neither the Company nor any of its Subsidiaries is a party to any contract, agreement or understanding with any person (other than as contemplated by this Agreement or any Terms Agreement) that would give rise to a valid claim against the Company or any of its Subsidiaries or the Agent for a brokerage commission, finder’s fee or like payment in connection with the offering and sale of the Shares.
Licensing The Subrecipient, unless otherwise exempted by law, shall obtain and maintain all licenses, permits, and authority necessary to perform those acts it is obligated to perform under this Agreement.