Additional Grant Sample Clauses
The "Additional Grant" clause defines the circumstances under which a party is granted rights or permissions beyond those originally specified in the agreement. Typically, this clause outlines the scope and limitations of any extra licenses, permissions, or benefits provided, such as the right to use certain intellectual property in new territories or for additional purposes. Its core function is to clarify and formalize any expansions to the original grant of rights, thereby preventing misunderstandings and ensuring both parties are aware of the extent of their entitlements.
Additional Grant. 26.2.1 Subject to Clause 26.2.4, commencing from the COD of Phase-I and until the expiry of 7 (seven5 (five) years therefrom, the Authority shall provide financial support to the Concessionaire in accordance with Schedule 18 (the “Additional Grant”)”).
26.2.2 {The Authority shall deposit or cause to be deposited the first Tranche of Additional Grant (payable upon completion of COD of Phase – I in accordance with Schedule 18), in the Escrow Account in advance at least 6 (six) months prior to the Scheduled Completion Date of Phase-I in accordance with Schedule 18..}27 Each {subsequent}28 Tranche of Additional Grant shall be deposited in the Escrow Account at least 3 (three) months in advance of the relevant scheduled completion of the related Payment Milestone. Subject to Clause 26.2.4, the Additional Grant shall be disbursed by the Escrow Bank to the Concessionaire as and when due in accordance with the Payment Milestones as prescribed in Schedule 18 and the Escrow Agreement.
26.2.3 In the event of occurrence of a Concessionaire Default, disbursement of Additional Grant shall be suspended till such Concessionaire Default has been cured by the Concessionaire, to the satisfaction of the Authority.}29.
26.2.4 The payment of each Tranche of Additional Grant {(other than the first Tranche of Additional Grant payable upon completion of COD of Phase – I in accordance with Schedule 18)}30 under the relevant Payment Milestones as specified in Schedule 18, shall be made only if the Hospital has maintained an average Occupancy at 30% (thirty percent) of the Bed Capacity (“Required Occupancy Level”) inover the period of 12 (twelve) months preceding the date of achievement of such Payment Milestone. In the event that the Concessionaire fails to achieve the Required Occupancy Level at the time of completion of the Payment Milestone, then such relevant Tranche of Additional Grant shall be paid on earlier of (a) achievement of immediately succeeding Payment Milestone provided that the Concessionaire has achieved the Required Occupancy Level in the period of 12 (twelve) months preceding the date of achievement of such Payment Milestone, and (b) within 7 (seven) days of the date on which the Concessionaire submits a written request to the Authority seeking release of payment of such Tranche of Additional Grant provided that on the date of making such request, the Concessionaire has achieved the Required Occupancy Level for the 12 (twelve) month period preceding such date. .}...
Additional Grant. ▇▇▇▇▇▇▇▇▇ will be granted a non-qualified option ---------------- to purchase an additional 700,000 shares of the Company's Common Stock under, and pursuant to the terms of, the Company's 1996 Amended and Restated Stock ---------------------------- Option Plan, including without limitation Section 11 thereof, at an exercise ----------------------------------------------- price equal to the fair market value (as determined by the Company's Board of Directors) on the date of grant (currently estimated to be $0.125 per share) (the "Additional Shares"). Such Additional Shares will vest and become ----------------- exercisable as follows, provided ▇▇▇▇▇▇▇▇▇ continues to provide services to the Company:
(i) 200,000 shares will vest over a four-year period as follows: Twenty-five percent (25%) of the shares will vest on July 1, 2000 and one-thirty-sixth (1/36th) of the remaining seventy-five percent (75%) of the shares will vest ratably at the end of each month thereafter upon ▇▇▇▇▇▇▇▇▇'▇ completion of each month of service with the Company.
(ii) 500,000 shares will vest as follows:
(A) 100,000 shares upon the earlier of (A) the closing of a private equity financing with gross proceeds to the Company of at least $20.0 million and (B) June 30, 2006;
(B) 200,000 shares upon the earlier of (A) the closing of the Company's initial public offering of Common Stock pursuant to a registration statement filed under the Securities Act of 1933, as amended or upon a "Change in Control" (as defined below) and (B) June 30, 2006; and
(C) 50,000 shares upon consummation of each agreement with a corporate or strategic partner (as evidenced by an equity investment or an agreement to collaborate with respect to development, marketing or product offering) up to a maximum of 200,000 shares for four such agreements; provided that in any event such 200,000 shares shall be deemed fully vested on June 30, 2006 if ▇▇▇▇▇▇▇▇▇ is still providing services to the Company.
Additional Grant. The Commission hereby grants to the Sponsor an additional sum of One Million One Hundred Fifty-Six Thousand Two Hundred Twenty- Two Dollars ($1,156,222) for this project. The Sponsor shall provide matching funds of not less than One Hundred Twenty-Eight Thousand Four Hundred Sixty-Nine Dollars ($128,469) toward the project in addition to those previously committed by the Sponsor in the Original Agreement.
Additional Grant. 26.2.1 Subject to Clause 26.2.4, commencing from the COD of Phase-I and until the expiry of 7 (seven) years therefrom, the Authority shall provide financial support to the Concessionaire in accordance with Schedule 18 (the “Additional Grant”)
Additional Grant. With respect to each WCM Invention and Joint Invention and related Joint Results for which either Section 6.1 does not apply or Company or the Special Purpose Entity has not made an election to amend the License Agreements pursuant to Section 6.1, WCM hereby grants to Company the first option (each, an “Option”) to negotiate in good faith with WCM for a royalty-bearing, worldwide license, under WCM Patent Rights, WCM Results and WCM’s interest in Joint Patent Rights, to develop, make, have made, use, offer for sale, sell, have sold, and import Derived Products in the Field on terms that are commercially reasonable for academia to industry licenses; provided, however, that the license will be exclusive (or non-exclusive at Company’s discretion) with respect to WCM Patent Rights and Joint Patent Rights and will be non-exclusive with respect to WCM Results; and provided, further, that no such license will include any grant of exclusive rights that would be inconsistent with the National Institutes of Health’s Principles and Guidelines for Recipients of NIH Research Grants and Contracts on Obtaining and Disseminating Biomedical Research Resources, as published at 64 Fed. Reg. 72090 and as may be amended from time to time.
Additional Grant. Her Majesty made a payment to the Foundation of
Additional Grant. Chairman was granted a non-qualified ---------------- option to purchase an additional 125,000 shares of the Company's Common Stock under the 1996 Plan, at an exercise price equal to $0.125 which was the fair market value on the date of grant (the "Additional Shares"). Such ----------------- Additional Shares vest and become exercisable as follows, provided Chairman continues to provide services to the Company:
(A) 50,000 shares vest over a four-year period as follows: Twenty-five percent (25%) of the shares vest on July 1, 2000 and one-thirty-sixth (1/36th) of the remaining seventy-five percent (75%) of the shares vest ratably at the end of each month thereafter upon Chairman's completion of each month of service with the Company.
(B) 75,000 shares vest as follows:
(i) 25,000 shares upon the earlier of (A) the closing of a private equity financing with gross proceeds to the Company of at least $20.0 million and (B) June 30, 2003;
(ii) 25,000 shares upon the earlier of (A) the closing of the Company's initial public offering of Common Stock pursuant to a registration statement filed under the Securities Act of 1933, as amended and (B) June 30, 2003; and
(iii) 25,000 shares upon consummation of four (4) agreements with corporate or strategic partners (each corporate or strategic agreement to be evidenced by an equity investment or an agreement to collaborate with respect to development, marketing or product offering); provided that in any event such 25,000 shares shall be deemed fully vested on June 30, 2003 if Chairman is still providing services to the Company.
Additional Grant. CITY agrees to pay an additional grant to DEVELOPER in the form of a Chapter 380 loan in the total amount of One Million Four Hundred Thousand and No/10 Dollars ($1,400,000.00) (the “Additional Grant”), upon the SUBSTANTIAL COMPLETION of the PROJECT IMPROVEMENTS and the COMMENCEMENT OF OPERATIONS by DEVELOPER in accordance with the terms of the LEASE, and in exchange, DEVELOPER agrees to execute contemporaneous with the approval and execution of this First Amendment to the AGREEMENT, an amendment to the Ground Lease, in the form attached hereto as Exhibit A, requiring repayment as Base Rent by DEVELOPER (Lessee) to CITY (Lessor) the sum of $350,000.00 due on September 30, 2022; $350,000.00 due on September 30, 2023; $350,000.00 due on September 30, 2024; and $350,000.00 due on September 30, 2025. Developer further agrees to timely pay the Base Rent. Developer’s obligation to pay the Base Rent to CITY shall not ▇▇▇▇▇ in any circumstances and shall survive the expiration or earlier termination of this Agreement and/or the LEASE.
B. Section 4.4 is added to read as follows:
Additional Grant. Subject to the terms and conditions of the Plan and Executive’s timely execution of a stock option agreement evidencing the option grant, the Company will grant Executive as of the Grant Date an option to purchase shares of Common Stock in a share amount determined based on Black-Scholes value of $200,000 as of the Grant Date. Such option shall be fully vested as of the Grant Date. All options described in this Section 3(c) shall be non-qualified stock options, and such grants shall each be subject to the applicable option agreement, the Plan (or other applicable equity incentive plan) and this Agreement, and shall have an exercise price equal to the closing price of the stock on the Grant Date (as defined in Section 3(c)(I) above) or other grant date, as applicable. Nothing in this Agreement alters or modifies the terms of the Nonqualified Stock Option Agreement to Purchase Shares of Common Stock Under the Amended and Restated Equity Incentive Plan dated November 26, 2021, granted pursuant to Section 3(b) of the Existing Agreement, which continues in full force and effect and provides, among other things, that vesting continues as long as Executive is providing services to the Company as an employee, director or consultant.
Additional Grant. In addition to and supplemental to the grants in Section 2.1 of the Existing Agreement, RCFC hereby grants, pledges and assigns to the Master Collateral Agent, for the benefit of the Beneficiaries (to the extent set forth in Section 2.2 and 2.3 of the Existing Agreement), a continuing, first priority Lien on all right, title and interest of RCFC in, to and under the Assignment of Exchange Agreement and all proceeds thereof, including Unused Exchange Proceeds, but only to the extent such grant, pledge and assignment with respect to such Exchange Proceeds, including such grant, pledge and assignment with respect to the Unused Exchange Proceeds, is consistent with the limitations set forth in the "safe harbor" provisions of Treasury Regulation ss.1.1031(k)-1(g) (6).