Jointly Owned definition

Jointly Owned means either Participant may exploit jointly developed IP.

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Jointly Owned means, with respect to Joint Intellectual Property Rights, an equal, undivided interest in and to the Joint Intellectual Property Rights, as well as in and to patent applications and patents thereon in all countries, without any obligation of accounting to the other Party.

Jointly Owned means, absent a definitive agreement to the contrary, each Party is free to exploit and enforce the Program Technology and authorize others to do so, with no obligation to account to the other Party, for profits or otherwise, and each Party hereby waives any right it may have under the laws of any country to require such consent or accounting. Accordingly, all assignments necessary to accomplish ownership of Program Technology as set forth in this Section 5.2 are hereby made, and shall be made, and each Party shall execute such further documents as may be reasonably necessary or appropriate, and provide reasonable assistance and cooperation, to implement the provisions of this Section 5.2.

Examples of Jointly Owned in a sentence

• A Party may assign this Agreement without the consent of the other Parties in connection with the sale, merger, restructuring, or transfer of a substantial portion of all of its assets, including the Interconnection Facilities or Jointly Owned Interconnection Facilities it owns, so long as the assignee in such a transaction directly assumes all rights, duties and obligation arising under this Agreement.

• This Agreement also governs certain terms and conditions related to the Jointly Owned Interconnection Facilities.

• Upgrades do not include Interconnection Facilities or Jointly Owned Interconnection Facilities.

• The Parties shall cooperate with each other to restore the Small Generating Facility, Interconnection Facilities, Jointly Owned Interconnection Facilities, and the New York State Transmission System and Distribution System to their normal operating state as soon as reasonably practicable following a temporary disconnection.

• Collectively, Interconnection Facilities and Jointly Owned Interconnection Facilities include all facilities and equipment between the Small Generating Facility and the Point of Interconnection, including any modification, additions or upgrades that are necessary to physically and electrically interconnect the Small Generating Facility to the New York State Transmission System or the Distribution System.

• Each Party shall notify the other Parties, first orally and then in writing, of the release of any hazardous substances, any asbestos or lead abatement activities, or any type of remediation activities related to the Small Generating Facility, the Jointly Owned Interconnection Facilities, or the Interconnection Facilities, each of which may reasonably be expected to affect the other Parties.

• The Interconnection Customer and Erie Wind shall construct, operate, and maintain the Jointly Owned Interconnection Facilities in accordance with the applicable manufacturer’s recommended maintenance schedule, and in accordance with this Agreement, and with Good Utility Practice.

• The Interconnection Customer and Erie Wind shall test and inspect its Jointly Owned Interconnection Facilities prior to interconnection.

• The Interconnection Customer and Erie Wind shall remain jointly and severally liable for all amounts owed to the Connecting Transmission Owner under this Agreement for services and equipment provided related to the Jointly Owned Interconnection Facilities.

• Notwithstanding any other provisions in this Agreement, the Interconnection Customer and Erie Wind shall be jointly and severally liable for all obligations and responsibilities applicable to either of them under this Agreement related to the Jointly Owned Interconnection Facilities.

More Definitions of Jointly Owned

Jointly Owned or “Jointly Own” shall mean that every Party shall own fifty percent (50%) undivided interest. Except as expressly provided in this Agreement and subject to any restrictions herein, with respect to Collaboration Patent Rights each joint owner may only assign, license, sell or otherwise encumber or transfer any such interest with the prior written approval of the other Party, which shall not be unreasonably withheld. Any such approved assignment, license or other disposition of Collaboration Technology Patent Rights shall at all times be and remain subject to the rights granted and accompanying conditions and obligations with respect thereto under this Agreement. Each Party waives the right it may have under any jurisdiction to assign, license, sell or otherwise encumber or transfer any such interest in Collaboration Technology Patent Rights without consent of the other Party.