Minimum Development Obligation Clause Samples

Minimum Development Obligation. Zomedica agrees to select at least [*] distinct assays for development during each of the first seven Contract Years of the Term (the “Assay Development Obligation”); provided, however, that if Zomedica selects more than [*] distinct assays for development during the fourth Contract Year or any subsequent Contract Year, then the number of assays selected by Zomedica in excess of [*] assays in such fourth Contract Year or subsequent Calendar Year (“Excess Selections”) may be carried forward and count towards Zomedica’s satisfaction of the Assay Development Obligation for a future Contract Year. Within 90 days after the Effective Date, and thereafter within 90 days after each successive anniversary of the Effective Date for the first seven Contract Years of the Term, Zomedica will notify Qorvo in writing of the identity of such at least [*] distinct assays (or less than [*], in cases where an Excess Selection may be carried-over from a prior Contract Year in accordance with this Section 3.4 (Minimum Development Obligation)) and such notification will include the Assay Information for each distinct assay. The Parties will meet to discuss in good faith Zomedica’s Assay Development Obligation if Assay development targets are materially delayed or missed due to Qorvo’s actions. The Assay Development Obligation will be deemed fully satisfied if Zomedica selects, and notifies Qorvo of, at least [*] assays for development at any time within the first seven Contract Years of the Term and each of such assays are accepted by Qorvo in accordance with Section 3.3.1 (Request for Development) or are otherwise counted towards the Assay Development Obligation in accordance with Section 3.3.1(2). Until (a) Zomedica has selected and delivered [*] assays to Qorvo for development, and (b) each of such assays has either been accepted by Qorvo or is otherwise counted towards the Assay Development Obligation in accordance with Section 3.3.1(2), if Zomedica fails to select and notify Qorvo of the required number of assays during the first seven Contract Years of the Term in accordance with this Section 3.4 (Minimum Development Obligation), then, within 30 days after the end of each Contract Year during the first seven Contract Years of the Term, Zomedica will pay [*] to Qorvo, for each assay that Zomedica did not select and notify Qorvo of in such Contract Year (after taking into account any Excess Selections that are counted towards Zomedica’s Assay Development Obligation for such...
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Minimum Development Obligation. II.1.1 Developer shall construct, equip, open and thereafter continue to operate at Venues within the Development Area not less than the cumulative number of Coffeehouses within each of the Development Periods specified in Exhibit "B". II.1.2 Developer shall have the right to close any Coffeehouse opened pursuant to this Agreement if Developer demonstrates to Company's reasonable satisfaction that the site has not operated profitably and is unlikely in the future to operate profitably, provided that Developer obtains Company's prior written consent to such closure, which Company shall grant or withhold based upon Company's reasonable business judgment. For purposes of Developer's Minimum Development Obligation, such closed Coffeehouse shall continue to be counted as an operating Coffeehouses for a period of 12 months following closure, and Developer shall be deemed in breach of the Minimum Development Obligation if immediately after said 12 month period the cumulative number of Coffeehouses then-operating is not equal to or greater than the cumulative number required to have been in operation as of the end of the immediately preceding Development Period. Developer shall execute a new Franchise Agreement pursuant to Section 6.1 for each subsequently opened Restaurant, even if opened as a "replacement" for the closed Restaurant. II.1.3 If a Coffeehouse opened and operated by Developer is destroyed or damaged, other than by a voluntary act of Developer, so that such Coffeehouse cannot continue to operate, the destroyed or damaged Coffeehouse shall continue to count toward satisfaction of the Minimum Development Schedule (during the period until such substitute location opens), BUT ONLY IF (i) Developer shall repair and restore such Coffeehouse to Company's then approved plans and specifications within 120 days after the occurrence of such destruction or damage, subject to delays permitted by Section 2.2, or (ii) Developer shall, within 120 days after the occurrence of such destruction or damage, open a Coffeehouse at a substitute location within the Development Area in accordance with Company's then approved plans and specifications (any such substitute location and the lease for such location must be approved in writing in advance by Company pursuant hereto and Developer shall execute a new Franchise Agreement therefor, pursuant to Section 6.1).
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Minimum Development Obligation. (a) Subfranchisor shall construct, equip, open and continue to operate, and procure, screen, qualify, train and assist Subfranchisees to construct, equip, open and operate, within the Development Area, not less than the cumulative number of [FRANCHISED BUSINESSES] set forth in Exhibit “B”, which is annexed hereto and by this reference made a part hereof, in the manner and within each of the time periods (the “Development Periods”) specified therein (the “Minimum Development Obligation”). (b) Each Franchise opened within the Development Area shall be the subject of a separate agreement. In the case of Subfranchisor franchises, the Company and Subfranchisor shall enter into a Franchise Agreement. In the case of [FRANCHISED BUSINESSES] operated by Subfranchisees who are procured, qualified, trained and assisted by Subfranchisor pursuant hereto, Subfranchisor and such third party Subfranchisees shall enter into a Subfranchise Agreement. (c) Franchises which are the subject of a Franchise Agreement or Subfranchise Agreement executed pursuant hereto, whether by Subfranchisor or by a Subfranchisee, shall be counted in determining whether the Minimum Development Obligation shall have been met within the applicable Development Period.
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Minimum Development Obligation. Lessee is required to sign the development cum lease agreement within 45 days from the date of NoA complying with the conditions set out in the tender document and to obtain all requisite approvals including Environmental Clearance within stipulated time in this agreement. The development period shall be 7 years which shall include the period of obtaining requisite approvals.
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Related to Minimum Development Obligation

  • Development Obligations 1. The College supports the development, production, and dissemination of copyrightable, trademarkable, patentable, and other intellectual properties by its employees. 2. It is understood that intellectual property developed by employees on or off College time, except for those materials for which the College had specifically contracted prior to June 9, 1998, shall remain the property of such employees, but shall continue to be used for the benefit of the College while the employee remains an employee of the College.

  • PROCUREMENT OBLIGATIONS Notwithstanding any other provisions of this Part B, where in this Part B the Customer accepts an obligation to procure that a Former Supplier does or does not do something, such obligation shall be limited so that it extends only to the extent that the Customer's contract with the Former Supplier contains a contractual right in that regard which the Customer may enforce, or otherwise so that it requires only that the Customer must use reasonable endeavours to procure that the Former Supplier does or does not act accordingly.

  • Client Obligations 3.1 The Client warrants and represents that: 3.1.1 it shall co-operate with Centaur as required for the proper performance of the Services; 3.1.2 it shall provide, for Centaur, its agents, subcontractors, consultants and employees, in a timely manner and at no charge, access to the Client's premises during normal office hours (being Monday – Friday 8am – 6pm), office accommodation, data and other facilities as is reasonably required by Centaur or any of them for the proper performance of the Services; 3.1.3 all information it has provided to Centaur in relation to the Services as at the date of the Order Form is accurate, complete and is not misleading and it shall provide, in a timely manner, such further information and Client Material as Centaur may require for the proper performance of the Services, and ensure that such information and Client Material is accurate, complete and not misleading; 3.1.4 it shall be responsible (at its own cost) for preparing and maintaining the relevant premises for the supply of the Services; 3.1.5 it shall inform Centaur of all health and safety rules and regulations and any other reasonable security requirements that apply at any of the Client's premises; 3.1.6 it shall only use the Services for internal business purposes and, without prejudice to the foregoing, shall not use the Services, the Deliverables or any Centaur Materials to develop a product or service that competes with any of the products or services provided by Centaur; 3.1.7 the Client Materials shall not infringe any third party rights, including any third party Intellectual Property Rights; and 3.1.8 it shall obtain and maintain all necessary licences and consents and comply with all relevant legislation in relation to the Services, before the date on which the Services are to start. 3.2 If Centaur's performance of its obligations under this Agreement is prevented or delayed by any act or omission of the Client, its agents, subcontractors, consultants or employees, Centaur shall not be liable for any costs, charges or losses sustained or incurred by the Client that arise directly or indirectly from such prevention or delay.

  • Local Church’s Payment Obligations At Closing or otherwise prior to or on the Disaffiliation Date, Local Church shall pay to the Annual Conference, in a manner specified by Annual Conference, the following: (a) Local Church shall have the right to retain its Real Property and Personal Property, tangible and intangible property without charge. Any costs relating to Local Church’s retention of its property will be borne by Local Church. (b) Any unpaid apportionments for the twelve (12) months immediately prior to the Disaffiliation Date, as calculated by Annual Conference, totaling Seven Thousand Nine Hundred Fifty-Two and 00/100 Dollars ($7,952.00) (for clarity, any amounts paid within the twelve (12) month period set out above shall be credited to the Local Church at Closing); (c) An additional twelve (12) months of apportionments, as calculated by Annual Conference, totaling Seven Thousand Nine Hundred Fifty-Two and 00/100 Dollars ($7,952.00); (d) An amount equal to Local Church’s pro rata share, as determined by Annual Conference, of Annual Conference’s unfunded pension obligations, based on the Annual Conference’s aggregate funding obligations as determined by the General Board of Pension and Health Benefits using market factors similar to a commercial annuity provider, totaling Nineteen Thousand Eight Hundred Thirty-Seven and 00/100 Dollars ($19,837.00); (e) If any clergy currently appointed to the Local Church will remain in The United Methodist Church after the Local Church disaffiliation, an amount equal to six (6) months salary, housing (if receiving a housing allowance), and pension/health benefits for the clergy, being Zero and 00/100 Dollars ($0.00). The intent of this provision is to provide salary and benefits to the clergy from January 1, 2024 through July 1, 2024, which is a period of time in which the clergy will not have an appointment to a church. (f) Any unpaid loans (secured or unsecured) owed to the Annual Conference or other United Methodist entities such as The United Methodist Foundation of Western North Carolina (unless those loans are assigned or transferred per Section 3.2 below), and any investment portfolio needs which require modifications or assignments; (g) The aggregate amount of any and all grants awarded and paid to Local Church by Annual Conference or any affiliate or subsidiary thereof within the prior ten (10) years; and, (h) All costs of the transfer of any assets involved hereunder and transactions set out herein, as well as the legal fees of the Annual Conference incurred in connection with this Agreement.

  • Payment Obligations Absolute The Company’s obligation during and after the Employment Period to pay the Executive the amounts and to make the benefit and other arrangements provided herein shall be absolute and unconditional and shall not be affected by any circumstances, including, without limitation, any setoff, counterclaim, recoupment, defense or other right which the Company may have against him or her or anyone else. Except as provided in Section 15, all amounts payable by the Company hereunder shall be paid without notice or demand. Each and every payment made hereunder by the Company shall be final, and the Company will not seek to recover all or any part of such payment from the Executive, or from whomsoever may be entitled thereto, for any reason whatsoever.