Basic Grant Clause Samples

The Basic Grant clause defines the fundamental rights granted by one party to another, typically involving the use or access to certain property, intellectual property, or resources. In practice, this clause specifies what is being granted—such as a license to use software, access to a trademark, or rights to distribute a product—and outlines any limitations or conditions attached to the grant. Its core function is to clearly establish the scope and boundaries of the rights being transferred, thereby preventing misunderstandings and disputes over what is permitted under the agreement.
Basic Grant. The Company hereby grants to you, effective on the execution of this Agreement, options (the "Options") to purchase a total of 50,000 shares of Common Stock (the "Option Shares"), at the purchase price determined as provided herein, pursuant to the terms and conditions of that certain Stock Option Agreement attached hereto as Exhibit A, and in all respects subject to the terms, definitions and provisions of the Company's 1994 Stock Option Plan (the "Plan"). Unless otherwise defined herein, the terms defined in the Plan shall have the same defined meanings herein.
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Basic Grant. ZLand grants to Franchisee, for the term stated in this Agreement, the right, license and privilege to operate as a ZLand Franchisee, which includes the following rights, licenses and privileges: (i) to adopt and use the ZLand System in the Territory in connection with the sale of those products and in connection with those services which have been designated by ZLand; (ii) to advertise to the public that Franchisee is a Franchisee of ZLand; (iii) to operate the Territory under the ZLand System from the premises. ZLand shall not operate, nor authorize any other ZLand franchisee to operate, at premises physically situated within the Territory. ZLand shall not actively sell, nor authorize any other ZLand franchisee to actively sell, to accounts physically situated within the Territory. ZLand and other ZLand franchisees shall, however, be able to sell to accounts located within the Territory, if, and inasfar as ZLand respectively other ZLand franchisees are not actively selling to such accounts. Franchisee shall not operate from any premises other than the premises that have been approved by ZLand in writing. Franchisee has received international disclosure documentation from ZLand describing the franchise and ZLand System, and has conducted its own review of the feasibility of the franchise in the Territory. Franchisee acknowledges its understanding of ZLand's basic business policy that ZLand will grant franchises only to those individuals who will work full time (or hire an acceptable full time manager) in the operation of their franchised ZLand Business. Thus, Franchisee shall either by herself/himself work full time or hire an acceptable full time manager in the operation of their franchised ZLand Business.
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Basic Grant. Subject to the terms and conditions of this Agreement, Symbollon grants to BioCide a sole and exclusive license under the Licensed Patents and Symbollon's Proprietary Information relating to iodine to make, have made on behalf of BioCide, use, offer to sell, sell and import Products in the Territory for use in the Field, with the right to grant sublicenses. Such license shall include a right to reference and use of such Symbollon data, including all animal studies and in vivo data, as may be required to support the commercialization of Products in the Field.
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Basic Grant. Subject to the terms and conditions of this Agreement, Symbollon grants to Kushi a non-exclusive license under the Licensed Patents and Symbollon's Proprietary Information relating to molecular iodine to develop Products in the Territory for use in the Field. Such license shall include a right to reference and use of such Symbollon data, including all animal studies and in vivo data, as may be required to support the commercialization of Products in the Field. To the extent that any Product is developed under this Agreement, the parties agree that Symbollon will have the right to the manufacture such Product and sell such Product to Kushi for use in the Field under terms and conditions acceptable to the parties.
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Basic Grant. ZLan▇.▇▇▇ ▇▇▇nts to Franchisee, for a stated term, the right, license and privilege to operate as a ZLan▇.▇▇▇ ▇▇▇nchisee. This includes the following rights, licenses and privileges: (i) to adopt and use the ZLan▇.▇▇▇ ▇▇▇tem in the Territory; (ii) to advertise to the public that Franchisee is a ZLan▇.▇▇▇ franchisee; (iii) to adopt and use, but only in connection with the sale of those products and services which have been designated by ZLan▇.▇▇▇ ▇▇▇ use in the Territory, the trade names, trademarks and service marks which ZLan▇.▇▇▇ ▇▇▇ll designate, from time to time, to be part of the ZLan▇.▇▇▇ ▇▇▇tem (the "ZLan▇.▇▇▇ ▇▇▇ks"; and (iv) to operate the ZLan▇.▇▇▇ ▇▇▇tem in the Territory. Except as otherwise specifically authorized in this Agreement (for example with respect to the ZLan▇.▇▇▇ ▇▇▇eller Program described in paragraph 9 hereof), ZLan▇.▇▇▇ ▇▇▇ll not (A) operate, nor authorize any other ZLan▇.▇▇▇ ▇▇▇nchisee to operate within the Territory, nor (B) sell, nor authorize any other ZLan▇.▇▇▇ franchisee to sell, to accounts physically situated within the Territory. ZLan▇.▇▇▇ ▇▇▇ll give all leads pertaining to ZLan▇.▇▇▇ ▇▇▇iness in the Territory only to Franchisee. ZLan▇.▇▇▇ ▇▇▇horizes Franchisee to call on all accounts, except those that qualify as a major account as described in paragraph 9 (which sets forth the rules relating to those particular accounts) within the Territory. Franchisee shall be responsible for such account contracts and also have the right to the Gross Profits from such account contracts for the term of said contracts. Franchisee shall not operate from any premises physically situated outside the Territory whether a main office or satellite office. Franchisee shall not call on or market directly to, no matter what the method, accounts that are in another ZLan▇.▇▇▇ ▇▇▇nchisee's territories or which Franchisee or Franchisee's sales people cannot 1) reasonably drive to from the Territory and 2) reasonably provide quality service from the Territory.
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Basic Grant. Subject to the terms and conditions of this Agreement, Symbollon grants to B&L a sole and exclusive license under the Licensed Patents and Symbollon's Proprietary Information relating to iodine to make, have made on behalf of B&L, use, offer to sell, sell and import Products in the Territory for use in the Field, with the right to grant sublicenses limited to co-promotion or co-marketing arrangements pursuant to Section 4.2(b).
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Basic Grant. Safetech does hereby grant, and Retrac does hereby accept, subject to the terms and conditions of this Agreement, an exclusive license to make, use, sell and offer for sale, in the United States and in all foreign countries and jurisdictions, devices and methods embodying subject matter claimed in any and all valid and enforceable claims of the Licensed Subject Matter, and the exclusive fight to use, in the U.S. and in all foreign countries and jurisdictions, the Resources.
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Basic Grant. ZLand grants to Franchisee, for a stated term, the right, licence, and privilege to operate as a ZLand franchisee, including the following rights, licences and privileges: (i) to adopt and use the ZLand System in the Territory; (ii) to advertise to the public that Franchisee is a franchisee of ZLand's; (iii) to adopt and use, but only in connection with the sale of those products and services which have been designated by ZLand for use in the Territory, the trade names, trademarks and service marks (iv) to operate the Territory under the ZLand System from premises acceptable to ZLand (the "Premises"). ZLand shall not operate, nor authorise any other ZLand franchisee to operate, at premises physically situated within the Territory. ZLand shall not sell, nor authorise any other ZLand franchisee to sell, to accounts physically situated within the Territory. ZLand shall give all leads pertaining to ZLand business in the Territory only to Franchisee. ZLand authorises Franchisee to call on all accounts, except those that qualify as a major account as described in paragraph 9 (which sets forth the rules relating to those particular accounts) within the Territory. Franchisee shall be responsible for such account contracts and also have the right to the Gross Profits from such accountcontracts for the term of said contracts. Franchisee shall not operate from any premises physically situated outside the Territory whether it be a main office or satellite office. Franchisee shall not call on or market directly to, no matter what the method, accounts that are in another ZLand franchisee's territories or which Franchisee or Franchisee's sales people cannot 1) reasonably drive to from the Premises in the Territory and 2) reasonably provide quality service from the Premises in the Territory.
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Related to Basic Grant

  • Payment of Award The Performance Shares that may become payable pursuant to this Award Agreement shall be based upon the highest performance determined in accordance with the provisions of Section 4 or, in the event of a Change in Control prior to the Final Measurement Date, based on performance at the level determined in accordance with the provisions of Section 3.4. In other words, the attainment of multiple performance measures under this Award Agreement will not result in the payment of a cumulative number of Performance Shares for each performance measure achieved. Payment of the Award, to the extent earned, shall be made as follows:

  • Forfeiture of Award 4.1 If the Award Recipient engages in grossly negligent conduct or intentional misconduct that either (i) requires the Company’s financial statements to be restated at any time beginning on the Date of Grant and ending on the third anniversary of the end of the final vesting date set forth in Section 1 or (ii) results in an increase of the value of the RSUs upon vesting, then the Committee, after considering the costs and benefits to the Company of doing so, may seek recovery for the benefit of the Company of the difference between the shares of Common Stock received upon vesting during the three-year period following such conduct and the shares of Common Stock that would have been received based on the restated financial statements or absent the increase described in part (ii) above (the “Excess Shares”). All determinations regarding the amount of the Excess Shares shall be made solely by the Committee in good faith. 4.2 The RSUs granted hereunder are also subject to any clawback policies the Company may adopt in order to conform to the requirements of Section 954 of the ▇▇▇▇-▇▇▇▇▇ ▇▇▇▇ Street Reform and Consumer Protection Act and any resulting rules issued by the SEC or national securities exchanges thereunder. 4.3 If the Committee determines that the Award Recipient owes any amount to the Company under Sections 4.1 or 4.2 above, the Award Recipient shall return to the Company the Excess Shares (or the shares recoverable under Section 4.2) acquired by the Award Recipient pursuant to this Agreement (or other securities into which such shares have been converted or exchanged) or, if no longer held by the Award Recipient, the Award Recipient shall pay to the Company, without interest, all cash, securities or other assets received by the Award Recipient upon the sale or transfer of such shares. The Award Recipient acknowledges that the Company may, to the fullest extent permitted by applicable law, deduct such amount owed from any amounts the Company owes the Award Recipient from time to time for any reason (including without limitation amounts owed to the Award Recipient as salary, wages, reimbursements or other compensation, fringe benefits, retirement benefits or vacation pay). Whether or not the Company elects to make any such set-off in whole or in part, if the Company does not recover by means of set-off the full amount the Award Recipient owes it, the Award Recipient hereby agrees to pay immediately the unpaid balance to the Company.

  • Termination of Award In the event that the Employee shall forfeit all or a portion of the restricted stock units subject to the Award, the Employee shall promptly return this Agreement to the Company for cancellation. Such cancellation shall be effective regardless of whether the Employee returns this Agreement.

  • Salary Benefits and Bonus Compensation 3.1 BASE SALARY. Effective July 1, 2000, as payment for the services to be rendered by the Employee as provided in Section 1 and subject to the terms and conditions of Section 2, the Employer agrees to pay to the Employee a "Base Salary" at the rate of $180,000 per annum, payable in equal bi-weekly installments. The Base Salary for each calendar year (or proration thereof) beginning January 1, 2001 shall be determined by the Board of Directors of Avocent Corporation upon a recommendation of the Compensation Committee of Avocent Corporation (the "Compensation Committee"), which shall authorize an increase in the Employee's Base Salary in an amount which, at a minimum, shall be equal to the cumulative cost-of-living increment on the Base Salary as reported in the "Consumer Price Index, Huntsville, Alabama, All Items," published by the U.S. Department of Labor (using July 1, 2000, as the base date for computation prorated for any partial year). The Employee's Base Salary shall be reviewed annually by the Board of Directors and the Compensation Committee of Avocent Corporation.

  • Annual Fixed Rent Tenant covenants and agrees to pay the Annual Fixed Rent in Section 1.1 to Landlord in advance in equal monthly installments commencing on the Term Commencement Date (if not the first day of a month) and thereafter on the first day of each calendar month during the Term. All payments shall be due without billing or demand and without deduction, setoff or counterclaim, except as expressly set forth in this Lease. Tenant shall make payment for any portion of a month at the beginning or end of the Term. All payments shall be payable to Landlord at Landlord’s address, as specified in Section 1.1, or to such other entities at such other places as Landlord may from time to time designate. Without limiting the foregoing, except as expressly set forth in this Lease, Tenant’s obligation so to pay Rent (as hereinafter defined) shall not be discharged or otherwise affected by any law or regulation now or hereafter applicable to the Premises, or any other restriction on Tenant’s use, or any casualty or taking, or any failure by Landlord to perform any covenant contained herein, or any other occurrence; and, except as expressly set forth in this Lease, Tenant waives all rights now or hereafter existing to terminate or cancel this Lease or quit or surrender the Premises or any part thereof, or to assert any defense in the nature of constructive eviction to any action seeking to recover Rent. The foregoing notwithstanding, if Landlord fails for any reason within Landlord’s control to provide any service to be supplied by Landlord under the Lease which is necessary for Tenant’s reasonable use of the Premises (such as HVAC, elevator service, electricity, water, or structural repairs), and Tenant is unable to use the Premises on account of such failure, Tenant shall be entitled to a proportional abatement of Annual Fixed Rent and Additional Charges for Operating Expenses and Taxes based on the portion of the Premises which cannot be used by Tenant. This abatement shall begin on the fourth (4th) consecutive Business Day from Tenant’s written notice to Landlord of the failure. The abatement shall end when the services are restored sufficiently to permit use of the Premises.