Nature and Term of Grant Clause Samples

The "Nature and Term of Grant" clause defines the type of rights or interests being granted under an agreement and specifies the duration for which those rights are effective. Typically, this clause outlines whether the grant is exclusive or non-exclusive, the scope of the rights (such as use, reproduction, or distribution), and the exact period during which the grantee may exercise these rights. By clearly stating both the nature and the term, this clause ensures that both parties understand the extent and timeframe of the grant, thereby preventing disputes over unauthorized use or misunderstandings about when the rights expire.
Nature and Term of Grant. 1 1.1 Grant of Franchise. 1
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Nature and Term of Grant. A. City does hereby grant to Grantee a nonexclusive right to construct, operate and maintain a chilled water system in the Streets of Cincinnati bounded by and including ▇▇▇▇▇▇▇▇▇ Avenue on the east, Central Avenue on the west, Central Parkway on the north and to the banks of the Ohio River on the south. City will give Grantee the right to install pipes on the Streets delineated on Grantee's master plan; said plan will be given to City by December 31, 1995 or three business days prior to the execution of this agreement, whichever comes first. The master plan will give the approximate horizontal and vertical location of Grantee's facilities in Street. The parties acknowledge that the exact location may vary as field locations dictate Grantee shall provide City with more detailed plans of the location of its facilities by March 1, 1996. Grantee must have said pipes installed by December 31, 2000. Nothing contained herein shall prevent City from permitting another provider to install a System in a Street if there is adequate space in said Street in addition to what is required by Grantee's master plan. Grantee acknowledges that the City is concerned with disruptions to business and traffic and to the overcrowded condition of the Street's subsurface area. Therefore, Grantee acknowledges that no pipe shall be installed in a City Street without the prior approval of the City Engineer, said approval shall not be unreasonably withheld. B. Grantee shall have the right to operate a chilled water system in the Streets for a period of twenty-five years commencing with the execution of this agreement. Five years after execution of this agreement the parties shall negotiate in good faith to extend this nonexclusive agreement. In considering a renewal of this agreement City shall consider, among other things, the adequacy of Grantee's performance and services under this agreement, Grantee's past and proposed charges for chilled water, City's economic development needs, and the proposed franchise fees.
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Nature and Term of Grant. 1 1.1 Grant of Franchise 1 1.2 Duration of Franchise 1 1.3 Effective Date. 1 1.4 Competitive Equity 1 1.5 Relationship to Other Laws 2 SECTION 2. CITY'S PRINCIPLES AND INTENT 3
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Nature and Term of Grant 
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Related to Nature and Term of Grant

  • Term of Grant Agreement The term of this Grant Agreement begins on JANUARY 1, 2024, and ends three (3) years following the final payment unless otherwise terminated or amended as provided in this Agreement. However, all work shall be completed by MARCH 31, 2026, and no funds may be requested after APRIL 15, 2026.

  • Term of Agreement and Termination 2.1. This Agreement enters into effect at the time of acceptance of this Agreement. 2.2. This Agreement will terminate without any further notice in the event products offered under this Agreement have not been used during a period of two (2) years. 2.3. This Agreement may be terminated at any time by either party with 30 days written notice. 2.4. This Agreement may be terminated by SAS with immediate effect if the CMP Code is used for private purposes or if SAS has reasonable cause to believe that such or similar misuse has occurred or if the Buyer is put into bankruptcy, enters into liquidation or is otherwise deemed to be insolvent.

  • Grant and Term 2.1 In consideration of the payment of the Site Fee, the Owner grants the Principal Occupant a licence to store the Dwelling on the Site subject to the terms of this Agreement. 2.2 This Agreement commences on the Commencement Date and shall continue until the Expiry Date or such earlier date upon which it is terminated in accordance with this Agreement or as specified in the Schedule. 2.3 For the avoidance of doubt, the Owner and the Principal Occupant acknowledge that they each enter into this Agreement based on their common intention that the Site is to be used for storing the Dwelling for the Term and that the use of the Dwelling by the Occupants as permitted by this Agreement shall be for holidaying purposes only and under no circumstances shall any person who has the right to use the Site under this Agreement be or become a resident or a site tenant within the meaning of the Residential Tenancies Act 1997 (Vic).

  • Effective Date and Term of Agreement This Agreement is effective and binding on the Company and Employee as of the date hereof; provided, however, that, subject to Section 2(d), the provisions of Sections 3 and 4 shall become operative only upon the Change in Control Date.

  • Term of Agreement This Agreement becomes effective upon the date of the last signature below ("Effective Date") and shall remain in effect until the completion of all obligations of both Parties hereto, or five years from the Effective Date, whichever comes first.