Development Obligation. Licensee commits to develop and open for business within: (a) at least 4 of the Facilities listed on schedule 1.2 by December 31, 2019; and (b) beginning in the month of January 2020, at least 2 additional Facilities listed on schedule 1.2 per calendar month until all of the Facilities listed on schedule 1.2 have opened for business (the foregoing obligation, the “Development Obligation”). In the event that Licensee fails to meet the Development Schedule (regardless of the month in which such noncompliance with the Development Schedule occurs), the Initial Licenses which Licensee has developed and opened for business shall remain unaffected; however, Licensee shall lose the right to develop the remaining Initial Licenses and Licensor shall, within such Facilities, have the right to provide (or contract with a third party to provide) services which may be competitive with Licensee’s services.
Appears in 2 contracts
Sources: Master Facility License Agreement (Novo Integrated Sciences, Inc.), Master Facility License Agreement (Novo Integrated Sciences, Inc.)