OTS Business definition

OTS Business means Respondent’s business of researching, developing, designing, marketing, licensing, selling, providing, maintaining, servicing, supporting, improving, enhancing, and updating software and providing services to the extent used for the development and implementation of a computer system connected to a real or emulated distributed control system that simulates by use of dynamic simulation models the performance and reactions of a designated process plant for the training of process plant operators.
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Examples of OTS Business in a sentence

  • Other than Small (OTS) Business Contractors shall adhere to small business subcontracting plans.

  • In the course of cooperating with Buyer to determine the Net Unbilled Accounts Receivable as at the Closing Date, Seller shall provide access to Buyer and Buyer's accountants, at no cost to Buyer, to any books, records (including without limitation, any detailed workpapers and other key information) and personnel of the OTS Business used by Seller (including Seller independent accountants) to prepare its calculation of Net Unbilled Accounts Receivable.

  • The Seller has customary insurance (including policies providing property, casualty, liability and workers' compensation coverage and bond and surety arrangements) with respect to the Engineering Software Assets and the OTS Business.

  • All of the billed and unbilled accounts receivable of the OTS Business set forth in Section 2.19 of the Disclosure Schedules represented as of July 31, 2004, or represented as of September 30, 2004, as applicable, and all of the Billed Accounts Receivable and Net Unbilled Accounts Receivable, as finally determined pursuant to Section 1.2(b), will represent valid obligations arising from sales made or services performed by the OTS Business in the ordinary course.

  • Seller must offer Buyer the option of assuming as an Assigned Contract any customer contract (or amendment or renewal thereof) relating solely to the OTS Business entered into between the date hereof and the Closing Date.

  • For purposes hereof, "SELLER CUSTOMER" means a customer of Seller for the OTS Business under an agreement pursuant to which Seller has agreed to provide SMS or has granted a license to any Hyprotech Product.

  • Except as set forth on Section 2.13 of the Disclosure Schedule, since January 1, 2003, no significant customer of the OTS Business has terminated or failed to renew, or given written notice of its intent to terminate or not renew or, to the knowledge of the Seller, threatened to terminate or not renew its agreement with the OTS Business.

  • On or before the Closing Date, Seller shall deliver to Buyer a closing statement of the OTS Business showing the billed Accounts Receivable (including from Assigned Contracts and Retained OTS Contracts) as at the Closing Date (the "BILLED ACCOUNTS RECEIVABLE").

  • With respect to the OTS Business, there are no agreements under which the OTS Business procures commercially available services (other than general corporate and administrative services) from other divisions or affiliates of the Seller other than at fair market value, other than with respect to services provided by Hyperion Engineering Limited.

  • Other than as set forth in Section 2.18 of the Disclosure Schedule, Seller has no 30 obligation to post a performance bond or other guarantee (or have a third party post a performance bond or guarantee) with respect to the OTS Business.