Agreement as to Ownership of Project Clause Samples
The "Agreement as to Ownership of Project" clause establishes which party will hold legal ownership rights to the project and its results. Typically, this clause clarifies whether the client, contractor, or another party will own any intellectual property, deliverables, or materials created during the course of the project. For example, it may specify that all work product, inventions, or documentation produced under the agreement are the exclusive property of the client. The core function of this clause is to prevent disputes by clearly defining ownership, ensuring all parties understand their rights to use, modify, or commercialize the project's outcomes.
Agreement as to Ownership of Project. Issuer and Company agree that title to and ownership of the Project shall remain in and be the sole property of Company in which Issuer shall have no interest. The Project is acknowledged to be subject to the lien of the First Mortgage Indenture. Notwithstanding any other provision hereof, the Company shall be permitted to sell or otherwise dispose of all or any portion of the Project, provided that the Company first receives the opinion of Bond Counsel that such sale or disposition shall not adversely affect the exclusion of the interest on the Bonds from gross income for federal income tax purposes and provided further that in the event of any assignment, in whole or in part, of this Agreement, such assignment shall be in accordance with Section 8.1 hereof.
Agreement as to Ownership of Project. Section 3.2 of the Agreement is hereby amended and restated to read as follows:
Agreement as to Ownership of Project. The Issuer and the Company agree that title to and ownership of the Project shall remain in and be the sole property of the Company in which the Issuer shall have no interest. From and after the Effective Date, the Project is acknowledged to be subject to the lien of the First Mortgage Indenture. Notwithstanding any other provision hereof, the Company shall be permitted to sell or otherwise dispose of all or any portion of the Project, provided that the Company first receives the opinion of Bond Counsel that such sale or disposition shall not adversely affect the exclusion of the interest on the 2002 Series A Bonds from gross income for federal income tax purposes and provided further that in the event of any assignment, in whole or in part, of this Agreement and the Amendment No. 1 to Loan Agreement, such assignment shall be in accordance with Section 8.1 hereof.
Agreement as to Ownership of Project. The Issuer and the Borrower agree that, during the term of this Agreement, title to and the ownership of the Project shall vest in and remain in and be the sole property of the Borrower.
Agreement as to Ownership of Project. The City and the Company agree that title to and ownership of the Project shall, during the Term of Agreement, be vested in the City, subject to the terms of this Lease Agreement. In accordance with the requirements of Section 3.02(f) hereof, it is acknowledged that the Company will convey title to and ownership of the Project to the City by executing, delivering, and recording one or more Bills of Sale, in addition to any other instruments of transfer required in connection with the issuance of the Bonds under the Act.
Agreement as to Ownership of Project. The Company owns a 75% undivided interest in the Project. Issuer and Company agree that title to and ownership of that portion of the Project owned by the Company, as to which the 1990 Project is an integral component, shall remain in and be the sole property of Company in which Issuer shall have no interest. The Project is acknowledged to be subject to the lien of the First Mortgage Indenture. Notwithstanding any other provision hereof, the Company shall be permitted to sell or otherwise dispose of all or any portion of the Project, provided that the Company first receives the opinion of Bond Counsel that such sale or disposition shall not adversely affect the exclusion of the interest on the Bonds from gross income for federal income tax purposes and provided further that in the event of any assignment, in whole or in part, of this Agreement, such assignment shall be in accordance with Section 8.1 hereof.
Agreement as to Ownership of Project. The Issuer and the Company agree that title to and ownership of the Project and the Project Site shall, during the Term of Agreement, be vested in the Issuer, subject to the terms of this Series 2018B Lease Agreement. It is acknowledged that the Company has conveyed title to and ownership of certain components of the Project and the Project Site to the Issuer in connection with the issuance of the Series 2018B Bonds pursuant to the Act and will convey title to and ownership of the remaining components of the Project and the Project Site to the Issuer in connection with the issuance of the Series 2018B Bonds pursuant to the Act in accordance with the requirements of Section 3.03(f) hereof.
Agreement as to Ownership of Project. The Authority agrees that it shall not have any interest in, title to or ownership of the Project or the Project Site.
Agreement as to Ownership of Project. The Company owns a 75% undivided interest in the Project. The Issuer and the Company agree that title to and ownership of that portion of the Project owned by the Company, as to which the 1990 Project is an integral component, shall remain in and be the sole property of the Company in which the Issuer shall have no interest. From and after the Effective Date, the Project is acknowledged to be subject to the lien of the First Mortgage Indenture. Notwithstanding any other provision hereof, the Company shall be permitted to sell or otherwise dispose of all or any portion of the Project, provided that the Company first receives the opinion of Bond Counsel that such sale or disposition shall not adversely affect the exclusion of the interest on the 2000 Series A Bonds from gross income for federal income tax purposes and provided further that in the event of any assignment, in whole or in part, of this Agreement and the Amendment No. 1 to Loan Agreement, such assignment shall be in accordance with Section 8.1 hereof.
Agreement as to Ownership of Project. The Issuer and Realty agree that title to and the ownership of the Project Site shall vest in and remain in and be the sole property of Realty, subject to the Mortgage, and the Issuer and Company agree that title to and the ownership of the Project Equipment shall vest in and remain in and be the sole property of Company, subject to the security interest granted in the Mortgage.