Initial Operations Clause Samples

Initial Operations. 2.1 The Venturers generally contemplate the Building and Construction Schedule for FabVen as shown in Attachment A and the Production and Business Schedule for FabVen as shown in Attachment B. 2.2 Under mutually agreeable written terms to be negotiated between UMC and FabVen, FabVen shall lease from UMC the land generally described in Attachment C, and commonly known as UMC's Module C, located at N▇. ▇ ▇▇-▇▇▇▇ ▇▇▇▇ Science Based Industrial Park, H▇▇▇ ▇▇▇ City, Taiwan, R.O.C. (a) The Venturers contemplate that except as agreed by them in writing, the terms of this lease will be at the market rate which would be negotiated between a lessor and lessee dealing with one another at arms length in the context of an independent lease and not based on some other business relationship. (b) Without limiting the foregoing, any and all services and supplies (including without limitation power, water, gas and/or materials) will not be part of such lease, and will be the subject of such terms as may be negotiated by FabVen. (c) The lease term for Module C will be for an initial period of five years, and FabVen will have the right to extend the lease for up to two additional five year periods under terms to be stated in the lease agreement. FabVen will occupy the land for this Module as its principal place of business, and will utilize this land for its production facility. 2.3 The Venturers shall each cooperate to build out this land as FabVen's production facility as quickly and efficiently as commercially reasonable, provided however that this Paragraph 2.3 shall not impose any obligation to provide additional funding beyond that expressly required under this Foundry Venture Agreement.

Initial Operations. All Net Cash Flow, Net Proceeds and Federal Income Tax Items as they relate to Initial Operations shall be shared by or charged: (a) 99% to the Venturers, other than the Managing Venturer, except to the extent that the Managing Venturer holds Units; and (b) 1% to the Managing Venturer. Each Venturer (or other Holder of Record), other than the Managing Venturer, except to the extent the Managing Venturer holds Units, shall share Net Cash Flow, Net Proceeds and Federal Income Tax Items attributable to Initial Operations and allocated to the Venturers in the proportion that such Venturer’s Units bear to the total Units of all Venturers.

Initial Operations. Each Venturer shall share in distributions of Net Cash Flow pursuant to Section 8.6.1 in the proportion that such Venturer's Sharing Ratio as reflected in Section 8.3.1 of this Agreement..

Initial Operations. Except as provided in Sections 8.3.3 and 8.3.4, Profits and Losses as they relate to Initial Operations prior to Payout and after Payout shall be allocated as follows.

Initial Operations. Provide initial satellite control operations of each Spacecraft using the Contractor’s own facilities and the Customer’s TT&C Station Equipment, starting from Delivery of such Spacecraft, and continuing for a period of***, as outlined in Section 11 of Attachment 5;

Initial Operations. Pinnacle covenants that following the issuance of a certificate of occupancy for the Project by the Unified Government, Pinnacle shall occupy the Project in accordance with the schedules provided in Sections 2.01 and 3.03 above and thereafter will commence operating the casino, hotel, and convention in accordance with the Lottery Gaming Facility Management Contract.

Initial Operations. Concessionaire hereby acknowledges and agrees that (i) the Terminal will be under construction at the Commencement Date, (ii) Concessionaire will conduct Interim Concession Operations solely from Interim Concession Operations Locations designated by the Authority in its sole discretion, which areas may be modified as the Authority adjusts to construction schedules and requirements, and (iii) the Occupancy Date for the permanent Leased Premises is subject to construction schedules and requirements, all as further described in the RFP and the Proposal. Effective on the Commencement Date, the Authority hereby leases to Concessionaire, and Concessionaire hereby leases from the Authority, the Interim Concession Operations Locations for conduct of the Interim Concession Operations. Reference in this Lease Agreement to the “Leased Premises” shall include, during the conduct of the Interim Concession Operations, the Interim Concession Operations Locations (unless the context of such reference clearly indicates to the contrary or if reference is made to “permanent Leased Premises”).

Initial Operations. Participant's costs of the 2 new drill ▇▇▇▇▇ and one workover per the EAGLEFORD-AUSTIN CHALK HORIZONTAL DRILLING PROGRAM will be on a turn-key basis and paid out of the initial funding from Participant. Any additional costs to equip the ▇▇▇▇▇ for production and or operations or other expenses as covered in the JOA, including the eventual plugging and abandonment of the ▇▇▇▇▇, shall be borne by all parties, including MANAGER (and/or its assign) in the proportion of their respective ownership interests. All subsequent operations on the ▇▇▇▇▇ AND ▇▇▇▇▇▇▇ LEASES shall be under the terms of the JOA. The MANAGER reserves the right to alter proposed completions and/or workovers as it deems prudent and necessary.

Initial Operations. Overland and Allogene shall use good faith efforts in collaborating with each other in helping the Company with its initial operations and adopting and implementing its business plans.