NEXT System definition
Examples of NEXT System in a sentence
This Clause 24.6 (Insolvency) shall not apply to (i) a Material Transaction Party at any time after NEXT System Completion; or (ii) any Launch Services Provider to the extent that it is replaced with an alternative Launch Services Provider pursuant to the terms of this Agreement.
The conditions in paragraphs (i) and (ii) above will cease to apply following NEXT System Completion and, at all times thereafter, the Borrower shall be permitted to prepay the whole or any part of any Loan in accordance with paragraph (a) above.
A certificate from the Insurance Adviser, addressed to the Finance Parties, confirming that the insurance to be provided by the Supplier as at the Initial CP Satisfaction Date pursuant to the Satellite Supply Contract complies with the terms of this Agreement and the NEXT System Documents.
It has a good, valid and marketable title to, or valid leases or licences to use, the assets necessary to carry on its business as presently conducted in all material respects and to implement the NEXT System in accordance with the Transaction Documents in all material respects.
This Secondary Payload Status Report is being delivered by the Borrower in accordance with paragraph (a)(ii) of Clause 21.7 (NEXT System Documents) of the Facility Agreement.
The Parties shall cooperate in good faith to negotiate and execute an operations and maintenance contract to provide for ongoing support of the NEXT System, including without limitation, the Satellites and other Deliverable Items, through the Operating Life of the Satellites or such longer time as agreed to by the Parties.
Contractor desires to furnish the space segment for the NEXT System (as defined herein), as well as certain Ground Deliverables, system engineering and integration, and Services, as defined in more detail in the Statement of Work, and ensure its interoperability/backward compatibility with Iridium Block 1, in accordance with the terms and conditions set forth herein.
For the avoidance of doubt, such amendment and restatement shall not include adjustment to any of the terms, conditions, prices or requirements of this Contract in effect from the Effective Date of this Contract through the date that Owner and/or its Affiliates will have elected to permanently terminate the Iridium NEXT System as contemplated above, but only if prior to the end of the ICS Useful Life.
With respect to Foreground Contractor IP, Contractor hereby grants to Purchaser NEXT System Exploit Rights and/or NEXT Successor System Exploit Rights, as set forth in Exhibit G.
In the event that Delivery of any Satellite forming part of a Satellite Batch to the Launch Site is delayed during the NEXT System Launch Campaign, including any Launch postponements declared or requested by a Launch Services Provider, the relevant Satellite Batch will be placed in Short Term Storage (as defined in Article 31.1.1) until such time the Purchaser notifies Contractor to ship the Satellite Batch to the Launch Site.