Ownership of Project. During the term of the Loan, the Project is and will continue to be owned by Recipient. The Project will be operated by Recipient or by a person under a management contract or operating agreement with Recipient. Any such management contract or operating agreement will be structured as a “qualified management contract” as described in IRS Revenue Procedure 97-13, as amended or supplemented.
Ownership of Project. The Project will be owned by Recipient for not less than ten years following the Project Completion Deadline. The Project will be operated by Recipient or by a person under a management contract or operating agreement with Recipient. Any such management contract or operating agreement will be structured as a “qualified management contract” as described in IRS Revenue Procedure 97-13, as amended or supplemented.
Ownership of Project. Tenant shall own the Project as it is built “brick by brick.” At all times while this Agreement is in force, title to the Project shall belong solely to the Tenant. Tenant shall have the right, but not the obligation, to remove any portion of Project at any point prior to the expiration or earlier termination of this Agreement, except as otherwise provided in Section 17.1. Upon expiration or earlier termination of this Agreement, title to the Project then situated on the Property shall pass automatically to the Port, without payment therefor, and Tenant shall have no further rights therein.
Ownership of Project. IP (clause 4.1) equal shares in the proportion to the inventive contribution of each contributing party (strike which is inapplicable)
Ownership of Project. The Parties agree that the legal ownership, care, custody and control of the Project for all purposes resides with the Society and that the Society shall for all purposes of applicable laws be the owner and operator of the Project.
Ownership of Project. Xxxxxxxx has good, record and marketable title in fee simple to the Project as described in the Security Instrument executed by Xxxxxxxx, subject only to the applicable Permitted Encumbrances.
Ownership of Project. The Parties agree that the legal ownership, care, custody and control of the Project for all purposes resides with the SPV and that the SPV shall for all purposes of applicable laws be the owner and operator of the Project and that the Society owns or will own shares in the SPV.
Ownership of Project. Intellectual Property shall vest in the party whose personnel conceived the subject matter and diligently pursued reducing the subject matter to practice, and such party may perfect legal protection therein in its own name and at its own expense. Jointly made or generated Project Intellectual Property shall be jointly owned by the parties unless otherwise agreed in writing. The parties agree to disclose to each other, in writing, each and every invention which may be patentable or otherwise protectable under the United States Patent laws in Xxxxx 00, Xxxxxx Xxxxxx Code. The parties acknowledge that they will disclose inventions to each other and the awarding agency within two (2) months after their respective inventor(s) first disclose the invention in writing to the person(s) responsible for patent matters of the disclosing party. All written disclosures of such inventions shall contain sufficient detail of the invention, identification of any statutory bars, and shall be marked confidential, in accordance with 35 U.S.C. 205. Sponsor shall receive the first option to negotiate for a license to commercialize the Project Intellectual Property of University, subject to any rights of the Government therein. Sponsor is hereby granted an exclusive option to negotiate the terms for a license to Project Intellectual Property of University, for an initial option period of three (3) months after such invention has been reported to Sponsor. The terms of subsequent licensing agreements for University owned and/or jointly owned Intellectual Property will be negotiated in good faith and by mutual agreement by the Parties to this Agreement.
Ownership of Project. Subject to the terms and conditions hereinafter set forth, ownership of the Project shall be as follows:
(a) The Project other than coal shall be owned by the parties hereto as tenants in common, with each party's respective undivided interests being in the following percentages: Montana - 50% Puget - 50% Such percentages are hereafter referred to as the "Ownership Percentages". Each Owner shall be entitled to schedule and take an amount of generation up to but not to exceed its Ownership Percentage of the Project's net generating capability.
(b) All of the respective covenants and agreements set forth and contained in the Project Agreements are incorporated herein by this reference and shall bind and shall be and become the respective obligations of each Owner, its successors and assigns. It is the specific intention of this provision that, except for the parties' mutual Waiver of Right to Partition as set forth in subsection 15(b) of this Ownership Agreement, all of the covenants and conditions of all of the Project Agreements shall be personal to the parties and not covenants running with the land and shall be binding upon any party which acquires any rights, title or interest of any Owner of the Project in, to and under the Project Agreements, pursuant to subsections (b) through (e) of Section 16.
Ownership of Project. As between the Corporation and the District, the Corporation will be the owner of the Property and the Project and the District shall have no fee title thereto until such time as a deed to all or any portion of the Property and the Project is delivered to the District as herein provided. So long as the District shall not be in default hereunder or during any period of grace permitted to the District to cure a default under Article 11 hereof, and until such time as the Corporation has transferred any Project facilities to the District as herein provided, the Corporation will be responsible for the operation of the Project in accordance with the terms hereof at all times and will be liable at all times during the Term hereof for all risk, loss and damage incurred with respect to the Project.
