Titan and USR Sample Clauses

Titan and USR mutually acknowledge and agree that it is not commercially practicable to predict the various elements and factors which will determine the ultimate success of the Initial Plant, and that Titan may be approached with other opportunities for construction and operation of additional plants, either within or outside the United States, with respect to its recycling technologies. Except for the initial Territory covered by the License, USR expressly recognizes that the ability of Titan to pursue other territories is extremely important to its corporate well being and acknowledges that Titan must be free and unencumbered to pursue other opportunities outside the initial Territory covered by the License. The parties also desire to avoid any disputes regarding the provisions of Article II above regarding subsequent plants and ensure that USR is compensated for being a "pioneer" for the first United States plant (the "Initial Plant"). In this regard, Titan will deliver to USR at closing (Article VI below), Warrants (the "Warrants," in the form attached hereto as Exhibit D and by this reference made a part hereof) to purchase up to 1,000,000 shares of Titan common stock at a price of $.30 per share (adjusted for customary dilution as provided in the form of Warrant) to ensure that USR has the opportunity to participate in the future success of Titan as a result of the success of the Initial Plant, subsequent plants or other plants constructed on the basis of license of the Titan technologies. USR agrees that such Warrants are its sole and exclusive remedy under this agreement in the event that the parties cannot or will not agree as to licensing agreements for subsequent plants as contemplated by Article II above.
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