Examples of MOU Effective Date in a sentence
Notwithstanding anything to the contrary herein, no Committee (or any other committee which the Parties may establish on which members of both Parties participate) shall remain in existence after July 25, 2031, the twenty-fifth (25th) anniversary of the MOU Effective Date.
Unless mutually agreed by the Parties, the provisions of Section 3.1 shall automatically terminate upon the [**] anniversary of the MOU Effective Date.
As good and valuable partial consideration for the license and release granted under Article 2 hereof, SMD shall, during the period between and including the MOU Effective Date and December 31, 2016 (“Exclusivity Period”), purchase and cause its Affiliates to purchase from Novaled all of SMD’s and its Affiliates’ respective needs of Dopant Material (p-type only, n-type only, or both types, whatever the case may be) for the manufacture of Licensed Product.
Nitto is the sole and exclusive owner of the Licensed IP, or otherwise has the right to license the Licensed IP and grant rights to Omega as set forth in this Agreement as of the MOU Effective Date and the Effective Date.
As a partial consideration for the license and the release granted herein, SMD shall make a one-time, non-refundable payment to Novaled in the amount of ten million US dollars ($10,000,000) within sixty (60) days of the MOU Effective Date.
This MOU shall become effective and binding upon the Parties after being signed by the authorized representative of each Party to this MOU ("Effective Date") and shall remain in effect for a period of three (3) years from the Effective Date.
Omega, at any time after one (1) year following the MOU Effective Date, will have the right to terminate this Agreement in full at its discretion for any or no reason by delivering written notice to Nxxxx, such termination to be effective thirty (30) days following the date of such notice.
None of the Nitto Patents are or have been involved in any opposition, cancellation, interference, reissue or reexamination proceeding, and to Nitto’s knowledge as of the MOU Effective Date and the Effective Date, no Licensed IP is the subject of any judicial, administrative or arbitral order, award, decree, injunction, lawsuit, proceeding or stipulation.
Novaled additionally represents and warrants to SMD that Novaled owns or has sufficient rights in the Licensed Patents as of the MOU Effective Date to grant the licenses to SMD.
Any payment of a benefit or installment thereof made in accordance with the provisions of this Section shall be a complete discharge of any liability for the making of such benefit payment under the provisions of this Plan.