Common use of Grant of Rights and Delivery Clause in Contracts

Grant of Rights and Delivery. 1.1 Purchaser agrees to purchase and FA-1 agrees to grant to Purchaser, the Rights for the sum of *** (the "Purchase Price"), payable in accordance with the schedule set forth in clause 2.1, in each case subject to the terms and conditions of this Agreement. 1.2 Where provision is made in this Agreement for the provision of operations and maintenance services ("O&M") by FA-1, O&M shall be provided by FA-1 to Purchaser *** in accordance with Schedule 3. 1.3 Testing and Inspection 1.4 The fibre pair so allocated is herein referred to as the "Allocated Fibre Pair". Except as set out below, the Preliminary Bandwidth (as such term is described in Schedule 2) will be provided and the rest of the Capacity will be installed on the Allocated Fibre Pair. *** *** 1.5 Upon the Initial RFS Date, FA-1 will activate the Preliminary Bandwidth of the Capacity in each of Links 2, 5, 6 in accordance with the terms of this Agreement. 1.6 Upon the Final RFS Date, FA-1 will activate the Preliminary Bandwidth of the Capacity in Link 9 in accordance with the terms of this Agreement. 1.7 Subject to Purchaser complying with clause 2.1, the Rights shall pass to and vest in Purchaser as follows: 1.7.1 in the Capacity, from the Initial RFS Date for the Initial Stage and from the Final RFS Date for the Final Stage; 1.7.2 in the Dark Fibre Pair and in each Facility (as such term is described in Schedule 2), from the date that the relevant Landing Station, Terminal Point or amplifier/regenerator site is made available to FA-1 for the installation of its equipment being at least 120 days prior to the Initial RFS Date; 1.7.3 The Rights shall subsist until the System is decommissioned in accordance with clause 8; 1.7.4 Purchaser shall have no legal ownership or other rights in the System itself or in the physical assets thereof, in any proceeds from the disposition of the System or in any other capacity therein, except as specifically provided herein. 1.8 Except as otherwise required by law or generally accepted accounting policies, the Parties agree to file their respective income tax returns to reflect the terms of clause 1.7 and not to take any actions inconsistent therewith. 1.10 Notwithstanding anything in this Agreement to the contrary, following the grant of any of the Rights relating to the Capacity or Dark Fibre Pair, Purchaser may resell, assign, transfer or otherwise use any such rights for any lawful purpose. Notwithstanding any resale, assignment or transfer, Purchaser remains liable for its obligations under this Agreement. FA-1 agrees and acknowledges that from the Initial RFS Date it shall have no right to use the Capacity or Dark Fibre Pair forming part of the Initial Stage during the term of this Agreement and that from the Final RFS date it shall have no right to use the Capacity forming part of the Final Stage during the term of this Agreement.