Non-Financed Projects Clause Samples

Non-Financed Projects. For projects which are not funded by third party financing, the Authorized User may agree to a sale or other transfer of rights to Custom Products at any time by giving notice of such intent in the project or work plan. The absence of such language shall be deemed a reservation of title and ownership unto the Authorized User. In the event that such an option is included in the project or work plan, Contractor must include in its proposal a quoted purchase price for Custom Products. Effective upon successful delivery and acceptance by the Authorized User of all Project deliverables, Contractor is granted an irrevocable, non-exclusive, worldwide, paid-up license to use, execute, reproduce, display, perform, prepare derivative works, and distribute Existing Product and the quoted price may be taken as an offset from final payment(s) due Contractor.