IRU Grant Clause Samples

An IRU Grant clause establishes the terms under which an Indefeasible Right of Use (IRU) is granted, typically for telecommunications infrastructure such as fiber optic cables. This clause details the rights and obligations of the grantee, including the scope of use, duration (often for the asset's useful life), and any associated fees or maintenance responsibilities. By clearly defining the long-term, non-revocable usage rights, the IRU Grant clause ensures both parties understand the extent and limitations of the grantee's access, thereby reducing the risk of future disputes and providing certainty for infrastructure investment.
IRU Grant. (A) Commencing with the Service Commencement Date and continuing through the end of the Service Term, Level 3 will grant to Customer an indefeasible right of use pursuant to the terms and conditions of the Agreement and this Service Schedule in any (3)LinkSM Global Wavelength Service provided on an IRU basis as identified in a Customer Order submitted by Customer and accepted by Level 3. (B) Upon the expiration of the initial Service Term respecting any (3)LinkSM Global Wavelength Service provided on an IRU basis, the IRU for the particular (3)LinkSM Global Wavelength Service shall revert to a month-to-month lease subject to the (3)LinkSM Global Wavelength Service Schedule executed between the parties (or if none, the then current standard version of Level 3's (3)LinkSM Global Wavelength Service Schedule shall apply), and the Service Term shall continue until terminated by either party upon thirty (30) days' prior written notice to the other party. The monthly recurring charges for the (3)LinkSM Global Wavelength Service under the month-to-month lease shall be based on Level 3's then current monthly recurring charges for (3)LinkSM Global Wavelength Service leases. Upon termination, all rights to the use of the (3)LinkSM Global Wavelength Service therein shall revert to Level 3 without reimbursement of any of the non-recurring IRU charge or other sums, costs, fees or expenses previously paid with respect thereto, and from and after such time Customer shall have no further rights or obligations hereunder with respect thereto unless such rights or obligations are specifically provided herein to survive the Service Term.
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IRU Grant. The University hereby grants to the User, an IRU for   fibre strands of the Cables, on the terms set out herein.
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IRU Grant. 3.1.1 Subject to payment of the IRU Fee in accordance with Section 5.1 and Exhibit B, and the acceptance process described in Section 4.2, SCL grants to Ziply, and Ziply accepts and acquires from SCL an exclusive IRU with respect to certain un-activated/un-lit "dark" fibers as depicted in Exhibit A and Ziply grants to SCL, and SCL accepts and acquires from Ziply an exclusive IRU with respect to certain un-activated/un-lit "dark" fibers as depicted in Exhibit A. 3.1.2 Each party shall specifically identify IRU Fiber strands granted to the other party upon completion of construction and testing. 3.1.3 The IRU shall include the nonexclusive right to utilize Associated Property, and to indirectly benefit from Authorizations and Underlying Rights (as described in Section 3.4) to the extent necessary to use and enjoy the IRU Fiber.
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IRU Grant. Seller hereby grants to Buyer an IRU in the Capacity for the purposes described herein, for the Term, upon the terms and subject to the conditions set forth in this Agreement.
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IRU Grant. Worldport hereby grants to STAR indefeasible rights of use ("IRU") in the STM-1s supplied by Worldport between the following City pairs in Europe ("Capacity"): [ECONOMIC TERMS OMITTED]
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Related to IRU Grant

  • Stock Grant Subject to the terms of the Plan, a copy of which has been provided to the Employee and is incorporated herein by reference, the Company grants to the Employee _________ shares of the common stock of the Company, subject to the terms and conditions and restrictions set forth below. If at any time while this Agreement is in effect (or shares of common stock granted hereunder shall be or remain unvested while Employee’s employment continues and has not yet terminated or ceased for any reason), there shall be any increase or decrease in the number of issued and outstanding shares of the Company through the declaration of a stock dividend or through any recapitalization resulting in a stock split-up, combination or exchange of such shares, then the Committee shall make any adjustments it deems fair and appropriate (in view of such change) in the number of shares of common stock then subject to this Agreement. If any such adjustment shall result in a fractional share, such fraction shall be disregarded.

  • Equity Grant Subject to approval by the Board and your execution of the Company’s standard form of Restricted Stock Agreement for executives (the “Restricted Stock Agreement”), you will be eligible to receive shares of the Company’s common stock under the Company’s 2017 Stock Option and Grant Plan (the “Plan”) equaling 15% of the Company’s outstanding common stock on a fully-diluted basis as of the grant date and after giving effect to the grant. If the Company closes Preferred Round on or prior to December 31, 2019 (and provided that you are still employed by the Company at the time of such closing), the Company shall issue you an additional award of restricted shares of Company common stock under the Plan in an amount such that, after giving effect to such additional issuance, you have been granted shares of common stock equal to 15% of the Company’s outstanding common stock on a fully-diluted basis upon closing of (and giving effect to) the Preferred Round. If the Preferred Round closes in multiple tranches (including tranches closed in the future, if initial closings of at least $3,000,000 occur by December, 2019), you will receive an additional award upon the closing of each tranche, in accordance with the foregoing. All shares of Company common stock granted to you shall be subject to repurchase and forfeiture as set forth in Restricted Stock Agreement, which shall provide that, subject to Section 6, the granted shares shall vest as follows: (i) 25% of the granted shares will vest on the three-month anniversary of the Commencement Date and (ii) thereafter, the remaining unvested shares will vest in equal quarterly installments over a three-year period, on the last day of each calendar quarter (i.e., March 31, June 30, September 30 and December 31), commencing on September 30, 2018; provided, that upon a Sale Event (as defined in the Plan) all your then-unvested shares (to the extent not previously forfeited) shall vest. For the avoidance of doubt, the Company and the Board have reviewed and understands and accepts your academic and work experience, as the same has been provided to the Company by you. Accordingly, and assuming the accuracy of your academic and work experience, the definition of “Cause”, as applicable to any termination of your employment by the Company (whether under the Plan, your Restricted Stock Agreement or otherwise) shall not include, and shall not be triggered by, the Company’s or the Board’s assertion or belief that you lack requisite experience for your position. In addition to the foregoing equity grant, you shall be eligible for additional grants of Company common stock or options to acquire Company common stock at such time and on such terms as determined by the Company’s board of directors. ​ You shall also receive pre-emptive rights permitting you to preserve your vested equity position in the Company in the event of any additional issuances of Company common stock (or securities convertible into common stock), at a per-share price equal to then current fair market value, as reasonably determined by the Board in good faith. ​

  • Grant of Restricted Stock Unit Award The Company hereby grants to the Participant, as of the Grant Date specified above, the number of RSUs specified above. Except as otherwise provided by the Plan, the Participant agrees and understands that nothing contained in this Agreement provides, or is intended to provide, the Participant with any protection against potential future dilution of the Participant’s interest in the Company for any reason, and no adjustments shall be made for dividends in cash or other property, distributions or other rights in respect of the shares of Common Stock underlying the RSUs, except as otherwise specifically provided for in the Plan or this Agreement.