SFD Data definition
Examples of SFD Data in a sentence
In consideration of this grant of the licence with respect to the American SFD Data, the Grantee shall pay to the Grantor a fee (the "Licence Fee") equal to 50% of the "Gross Revenues" (as such term is defined below) actually received by the Grantee and/or its Subsidiaries with respect to the commercial exploitation of the Hydrocarbons identified in each American Prospect.
The Executive hereby grants to the Corporation, and the Corporation hereby accepts from the Executive, an exclusive, world-wide license to use, develop, copy and modify the Operating SFD Detectors, and, to the extent reasonably necessary, the SFD Theories associated therewith, but only to the extent reasonably necessary for the Corporation to conduct SFD Surveys for the collection of SFD Data for use in the exploration of hydrocarbon resources.
During the period that Pinnacle International ----------------- shall be obligated to pay to Momentum a SFD Data Fee, Pinnacle International shall keep or cause to be kept accurate, complete and up-to-date books of accounts separately stating records of all revenues earned, accrued and/or collected with respect to each Prospect, and all costs, expenses, and investments in such Prospect.
As security for Pinnacle International's obligation to pay the SFD Data Fee, it agrees that it shall execute a Security Agreement in form reasonably acceptable to Momentum with respect to any interest in any Prospect acquired by Pinnacle International and/or its Subsidiaries, which will grant to Momentum a security interest in any Prospect Revenues generated by Pinnacle International and/or its Subsidiaries in such Prospect.
Pinnacle International further agrees that it shall not prosecute any action against third parties in the nature of unfair competition, patent infringement, copyright infringement, trademark infringement, or other proprietary right infringement relating to the Stress Field Detector, the SFD Technology and/or the SFD Data without the prior written consent of Momentum, which it may withhold in its sole discretion.
The granting of exclusive rights to Pinnacle International for the use of the SFD Data to identify and exploit Hydrocarbons, and the use of the Stress Field Detector and the SFD Technology by Momentum in generating and providing such SFD Data to Pinnacle International, will not infringe upon or violate any intellectual property right of any other Person including, without limitation, any patent, tradename, trademark, copyright or other proprietary right of any other Person.
The Parties agree that any SFD Data and SFD Information -------- shall be the property of Pinnacle.
The parties acknowledge that the Executive is also -------------------- employed as an executive officer of Momentum, which corporation provides certain SFD Data to the Company (and/or its Subsidiaries) pursuant to the terms of certain agreements between the Company (and/or its Subsidiaries) and Momentum, and is also a director and holds an indirect beneficial interest in Momentum.
Pinnacle International agrees to provide, at its ------------- own cost and expense, such customized vehicles, with such customized equipment (other than the Stress Field Detector and enhancements thereto), as are reasonably requested by Momentum to conduct its survey work and to generate the SFD Data for Pinnacle International.
The Parties hereby submit all controversies, claims and matters of difference arising under this Agreement (other than those, if any, relating to ownership of the SFD Technology or SFD Data) to arbitration.