Exclusive Development Rights definition
Examples of Exclusive Development Rights in a sentence
There is no claim, action or proceeding being made or brought, or to the knowledge of CMNE, being threatened, against CMNE or CTNE regarding the Exclusive Development Rights.
The Exclusive Development Rights are mainly comprised of 25-year exclusive rights to develop solar plants on warehouse rooftops of three enterprises within China: China Merchants Logistics Holding Co., Ltd., China Merchants Bonded Logistics Ltd.
In addition, Licensee shall have the right to develop, own and operate a total of four (4) new Cafe Odyssey Restaurants (including among such four (4) restaurants any new Cafe Odyssey Restaurants which are opened prior to the Exclusive Development Rights Expiration Date) whether or not any of such restaurants are opened prior to the Exclusive Development Rights Expiration Date.
Should the Subscriber or its Affiliates be entitled or granted additional Exclusive Development Rights in the future, as long as it beneficially owns any Ordinary Shares of the Company, the Subscriber shall (and shall cause its Affiliates to) contribute such additional Exclusive Development Rights to any Group Company for no additional consideration, free from any Encumbrance.
The Company shall have received valuation report(s) appraising CTNE and the Exclusive Development Rights issued by an independent international appraiser acceptable to the Company, the form and substance of which shall be to the satisfaction of the Company.
The Exclusive Development Rights which CTNE is entitled to are unconditional and irrevocable.
Licensor hereby grants Licensee the exclusive right prior to the third anniversary of the Management Agreement (the "Exclusive Development Rights Expiration Date"), to develop, own and operate the next four (4) Cafe Odyssey Restaurants in any location (other than the Twin Cities and the Denver metropolitan areas).
CTNE legally owns adequate rights to use the Exclusive Development Rights as described in the DD Documents.
Grant of Exclusive Development Rights................................
Further, Licensor shall not develop, directly or indirectly, or license or grant to any other entity the right to develop, any Cafe Odyssey Restaurant in any location until the earlier of (i) the Exclusive Development Rights Expiration Date, or (ii) the date on which Licensee has developed four (4) new Cafe Odyssey Restaurants.