Common use of Binding Conditions Clause in Contracts

Binding Conditions. 3.3.1 All of D-R’s actions, performance, covenants and obligations contained in this Agreement, including, without limitation, those obligations set forth in Section 2.3 and Section 5.1, will be conditioned on and subject to (the “Core Binding Conditions”): 3.3.1.1 E-C obtaining the Fundamental Process Security pursuant to Section 3.2.2; 3.3.1.2 E-C providing D-R with evidence reasonably satisfactory to D-R that all (a) previously existing liens on the E-C Intellectual Property have been released and (b) all Patents applicable to the Fundamental Process, Gradual Oxidizer, Target Gas Turbine and/or KG2-3GEF/GO purported to be owned by E-C are in fact owned by E-C and recorded at the appropriate Patent Office(s); 3.3.1.3 E-C providing D-R with (i) evidence reasonably satisfactory to D-R that it has sufficient funding as of the Effective Date to fund its planned operations for a period of * and (ii) a budget consistent with discussions between the Parties and reasonably satisfactory to D-R, for the period starting with the month of the Core Binding Date, pursuant to Section 3.3.2, through the * outlining E-C’s planned (x) quarterly balance sheet account balances and (y) monthly inflows of cash and expenditures of cash (such budget the “E-C Company Budget”); and 3.3.1.4 D-R provides a written acknowledgement of an initial binding Customer purchase order for a KG2-3GEF/GO. For the avoidance of doubt, D-R shall notbe obligated to enter into a contract with a Customer or End User for the Initial System unless E-C has previously satisfied the conditions pursuant to Sections 3.3.1.1, 3.3.1.2, and 3.3.1.3. * Portions of this page have been omitted pursuant to a request for confidential treatment and have been filed separately with the Securities and Exchange Commission.