Commercialisation of Project Outputs Sample Clauses

The 'Commercialisation of Project Outputs' clause defines how the results, products, or intellectual property generated from a project may be used for commercial purposes. It typically outlines the rights and obligations of the parties regarding the exploitation, licensing, or sale of these outputs, and may specify revenue sharing arrangements or approval processes for commercial activities. This clause ensures that all parties have a clear understanding of how project results can be monetized, thereby preventing disputes and facilitating the effective use of project outcomes in the marketplace.
Commercialisation of Project Outputs. (a) The Parties acknowledge that the primary aim of the Project is to benefit the Australian Grains Industry and that maximisation of commercial returns is a secondary aim which will not be pursued to the detriment of the primary aim. Accordingly, the Parties undertake to work together, in good faith, to seek adoption, dissemination and Commercialisation of Project Outputs which maximises the benefit to the Australian Grains Industry. (b) If an Owning Party considers on reasonable grounds that any Project Outputs may be Commercialised, it must notify the other Owning Party (if any) in writing accordingly, identifying the relevant Project Outputs. (c) Any Commercialisation of Project Outputs will be led by the Commercialisation Party subject to the Parties entering into a separate written agreement. (d) The Parties will share the Net Commercialisation Income derived from Commercialisation of Project Outputs in proportion to their Beneficial Interest in the Project Outputs. GRDC will be responsible for notifying and distributing such shares of Net Commercialisation Income to non- Owning Parties as and when they arise, subject to receiving a tax invoice from the non-Owning Party in accordance with GRDC's notice.
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Commercialisation of Project Outputs. The Parties acknowledge that the primary aim of the Project is to benefit the Australian Grains Industry and that maximisation of commercial returns is a secondary aim which will not be pursued to the detriment of the primary aim. Accordingly, the Parties undertake to work together, in good faith, to seek adoption, dissemination and Commercialisation of Project Outputs which maximises the benefit to the Australian Grains Industry. If an Owning Party considers on reasonable grounds that any Project Outputs may be Commercialised, it must notify the other Owning Party (if any) in writing accordingly, identifying the relevant Project Outputs. Any Commercialisation of Project Outputs will be led by the Commercialisation Party subject to the Parties entering into a separate written agreement. The Parties will share the Net Commercialisation Income derived from Commercialisation of Project Outputs in proportion to their Beneficial Interest in the Project Outputs. GRDC will be responsible for notifying and distributing such shares of Net Commercialisation Income to non-Owning Parties as and when they arise, subject to receiving a tax invoice from the non-Owning Party in accordance with GRDC's notice. A Party must notify the other Party within 14 days if it: becomes aware of or suspects an infringement or threatened infringement of Project IP or a misuse of Project Data, Project Confidential Information or Items; or becomes aware of any claim that carrying out the Project or the dissemination, Commercialisation or other use of the Project Outputs infringes or is likely to infringe the Intellectual Property rights or other legal rights of a third party. Where an Owning Party believes that action should be taken to defend Project Outputs because they are, or are likely to be, infringed or misused by a third party: it must notify the other Owning Party (if any) of details of a proposed defence strategy including details of the anticipated costs and benefits of the action; and the Owning Parties must seek to agree on a defence strategy. If the Owning Parties agree on a defence strategy they will proceed according to that defence strategy. If the Owning Parties do not agree on a defence strategy within 28 days of the notice under clause 9.7(a), then: an Owning Party (Active Party) may proceed to take that action in its own name and at its own expense; the other Owning Party (Passive Party) must execute any documents and do any things necessary to enable the Active Party...
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Related to Commercialisation of Project Outputs

  • Completion of Project This Grant Agreement shall terminate upon completion of the project and payment of the last invoice.

  • Commercialization Intrexon shall have the right to develop and Commercialize the Reverted Products itself or with one or more Third Parties, and shall have the right, without obligation to Fibrocell, to take any such actions in connection with such activities as Intrexon (or its designee), at its discretion, deems appropriate.

  • Project Implementation The Borrower shall:

  • Clinical Studies The animal and other preclinical studies and clinical trials conducted by the Company or on behalf of the Company were, and, if still pending are, to the Company’s knowledge, being conducted in all material respects in compliance with all Applicable Laws and in accordance with experimental protocols, procedures and controls generally used by qualified experts in the preclinical study and clinical trials of new drugs and biologics as applied to comparable products to those being developed by the Company; the descriptions of the results of such preclinical studies and clinical trials contained in the Registration Statement and the Prospectus are accurate and complete in all material respects, and, except as set forth in the Registration Statement and the Prospectus, the Company has no knowledge of any other clinical trials or preclinical studies, the results of which reasonably call into question the clinical trial or preclinical study results described or referred to in the Registration Statement and the Prospectus when viewed in the context in which such results are described; and the Company has not received any written notices or correspondence from the FDA, the EMA, or any other domestic or foreign governmental agency requiring the termination, suspension or modification of any preclinical studies or clinical trials conducted by or on behalf of the Company that are described in the Registration Statement and the Prospectus or the results of which are referred to in the Registration Statement and the Prospectus.

  • Development of the Project 4.1 TSP's obligations in development of the Project: a. for procuring and maintaining in full force and effect all Consents, Clearances and Permits, required in accordance with Law for development of the Project; b. for financing, constructing, owning and commissioning each of the Element of the Project for the scope of work set out in Schedule 1 of this Agreement in accordance with: i. the Electricity Act and the Rules made thereof; ii. the Grid Code; iii. the CEA Regulations applicable, and as amended from time to time, for Transmission Lines and sub-stations: • the Central Electricity Authority (Technical Standards for Connectivity to the Grid) Regulations, 2007; • Central Electricity Authority (Technical Standards for construction of Electrical Plants and Electric Lines) Regulation, 2010; • Central Electricity Authority (Grid Standard) Regulations, 2010; • Central Electricity Authority (Safety requirements for construction, operation and maintenance of Electrical Plants and Electrical Lines) Regulation, 2011; • Central Electricity Authority (Measures relating to Safety and Electricity Supply) Regulation, 2010; • Central Electricity Authority (Technical Standards for Communication System in Power System Operation) Regulations, 2020. iv. Safety/ security Guidelines laid down by the Government; v. Prudent Utility Practices, relevant Indian Standards and the Law; not later than the Scheduled COD as per Schedule 2 of this Agreement; c. for entering into a Connection Agreement with the concerned parties in accordance with the Grid Code. d. for owning the Project throughout the term of this Agreement free and clear of any encumbrances except those expressly permitted under Article 15 of this Agreement; e. to co-ordinate and liaise with concerned agencies and provide on a timely basis relevant information with regard to the specifications of the Project that may be required for interconnecting the Project with the Interconnection Facilities; f. for providing all assistance to the Arbitrators as they may require for the performance of their duties and responsibilities; g. to provide to the Nodal Agency and CEA, on a monthly basis, progress reports with regard to the Project and its execution (in accordance with prescribed form) to enable the CEA to monitor and co-ordinate the development of the Project matching with the Interconnection Facilities; h. to comply with Ministry of Power order no. 25-11/6/2018 – PG dated 02.07.2020 as well as other Guidelines issued by Govt. of India pertaining to this; i. to procure the products associated with the Transmission System as per provisions of Public Procurement (Preference to Make in India) orders issued by Ministry of Power vide orders No. 11/5/2018 - Coord. dated 28.07.2020 for transmission sector, as amended from time to time read with Department for Promotion of Industry and Internal Trade (DPIIT) orders in this regard (Procuring Entity as defined in above orders shall deemed to have included Selected Bidder and/ or TSP). Also, to comply with Department of Expenditure, Ministry of Finance vide Order (Public Procurement No 1) bearing File No. 6/18/2019- PPD dated 23.07.2020, Order (Public Procurement No 2) bearing File No. 6/18/2019-PPD dated 23.07.2020 and Order (Public Procurement No. 3) bearing File No. 6/18/2019-PPD, dated 24.07.2020, as amended from time to time, regarding public procurement from a bidder of a country, which shares land border with India; j. to submit to Nodal Agency information in the prescribed format [To be devised by Nodal Agency] for ensuring compliance to Article 4.1 i) above. k. to comply with all its obligations undertaken in this Agreement. 4.2 Roles of the Nodal Agency in implementation of the Project: 4.2.1 Subject to the terms and conditions of this Agreement, the Nodal Agency shall be the holder and administrator of this Agreement and shall inter alia: a. appoint an Independent Engineer within 90 days of the Effective Date b. provide letters of recommendation to the concerned Indian Governmental Instrumentality, as may be requested by the TSP from time to time, for obtaining the Consents, Clearances and Permits required for the Project; c. coordinate among TSP and upstream/downstream entities in respect of Interconnection Facilities; and d. monitor the implementation of the Agreement and take appropriate action for breach thereof including revocation of guarantees, cancellation of Agreement, blacklisting etc e. provide all assistance to the Arbitrators as required for the performance of their duties and responsibilities; and f. perform any other responsibility (ies) as specified in this Agreement.