Biosyn Clause Samples
The 'Biosyn' clause typically defines the rights and obligations related to biological synthesis, such as the creation or use of synthetic biological materials or processes. In practice, this clause may specify who owns the results of biosynthetic research, set limitations on the use of biosynthetic technology, or outline responsibilities for compliance with relevant regulations. Its core function is to clarify ownership, usage rights, and compliance requirements for biosynthetic innovations, thereby reducing disputes and ensuring all parties understand their roles in relation to biosynthetic activities.
Biosyn. The value of each of Biosyn’s assets and Cellegy Holdings, Inc.’s (“Cellegy”) assets are not material and are insignificant relative to the value of the Company as a whole. So long as the Note is outstanding, the Company shall not transfer, or permit any Affiliate of the Company to transfer, any significant dollar amount of assets to Biosyn or Cellegy, and the Company shall ensure that neither Biosyn nor Cellegy engages in any operations other than operations that are immaterial relative to the value of the Company as a whole. So long as the Note is outstanding, in the event that at any time the value of Biosyn’s or Cellegy’s assets becomes material or not insignificant relative to the value of the Company as a whole, the Company shall promptly cause Biosyn and/or Cellegy, as the case may be, to execute and deliver to the Purchaser a Guarantee in substantially the form of Exhibit B attached hereto.