Common use of Government Grant Programs Clause in Contracts

Government Grant Programs. Schedule 4.20 provides a complete list of all material pending and outstanding grants, incentives and subsidies (collectively, "Grants") from the Government of the State of Israel or any agency thereof, or from any foreign governmental or administrative agency, to the Seller Group relating to the Business including, without limitation, (i) Approved Enterprise Status from the Investment Centre and (ii) grants from the Office of the Chief Scientist of the Israeli Ministry of Trade & Industry. The Seller Group has made available to the Purchaser Group, prior to the date hereof, correct copies of all applications for Grants submitted by any Seller and of all letters of approval, and supplements thereto, granted to any Seller. Schedule 4.20 details all material undertakings of the Sellers given in connection with the Grants. Without limiting the generality of the above, Schedule 4.20 includes the aggregate amounts of each Grant, and the aggregate outstanding obligations thereunder of the Sellers with respect to royalties, or the outstanding amounts to be paid by the Office of the Chief Scientist of the Israeli Ministry of Trade & Industry to the Sellers and the composition of such obligations or amount by the product or product family that it relates to. Each member of the Seller Group is in compliance, in all material respects, with the terms and conditions of its Grants and, has duly fulfilled, in all material respects, all the undertakings relating thereto. The Seller Group is not aware of any event or other set of circumstances that might lead to the revocation or material modification of any of the Grants.

Government Grant Programs. Section 4.23 of the Disclosure Schedule 4.20 provides a complete list of all material pending and outstanding grants, tax benefits, incentives and subsidies (collectively, "Grants") from the Government of the State of Israel or any agency thereof, or from any foreign governmental or administrative agency, to the Seller Group relating to or the Business Subsidiary including, without limitation, (ia) Approved Enterprise Status from the Investment Centre Center and (iib) grants from the Office of the Chief Scientist of the Israeli Ministry of Trade & Industry("OCS"). The Seller Group Company has made available to the Purchaser Groupand the Parent, prior to the date hereof, correct copies of all applications for Grants submitted by any Seller the Company and of all letters of approval, and supplements thereto, granted to any Sellerthe Seller or the Subsidiary. Section 4.23 of the Disclosure Schedule 4.20 details all material undertakings of the Sellers Seller and the Subsidiary given in connection with the Grants. Without limiting the generality of the above, Section 4.23 of the Disclosure Schedule 4.20 includes the aggregate amounts of each Grant, and the aggregate outstanding obligations thereunder of the Sellers Seller and the Subsidiary with respect to royalties, or the outstanding amounts to be paid by the Office of the Chief Scientist of the Israeli Ministry of Trade & Industry OCS to the Sellers Seller or the Subsidiary and the composition of such obligations or amount by the product or product family that it relates to. Each member of The Seller and the Seller Group is Subsidiary are in compliance, in all material respects, compliance with the terms and conditions of its their respective Grants and, has and have duly fulfilled, in all material respects, fulfilled all the undertakings relating thereto. The Seller Group is not aware of any event or other set of circumstances that which might lead to the revocation or material modification of any of the Grants.