Method of grant Clause Samples
The 'Method of grant' clause defines the specific way in which rights, such as licenses or permissions, are formally conferred from one party to another under an agreement. This clause typically outlines whether the grant is exclusive or non-exclusive, the scope of the rights being granted, and any conditions or limitations attached to the grant. For example, it may specify that a licensee is permitted to use certain intellectual property only within a particular territory or for a defined purpose. The core function of this clause is to clearly delineate the extent and manner of the rights being transferred, thereby preventing misunderstandings and disputes over what has been granted.
Method of grant. (a) The Irrigation Right is to be granted by Tasmanian Irrigation and each Holder of the Rights entering an agreement in the form of annexure 2 for the volume of water being the portion of the Rights in respect of which the grantee is registered as the holder in the WEPC Register.
(b) The Zoned Flow Delivery Right is to be granted by Tasmanian Irrigation and each Holder of the Rights entering an agreement in the form of annexure 3 for the flow rate being the portion of the Rights in respect of which the grantee is registered as the holder in the WEPC Register.
(c) On Completion, the Irrigation Right issued under clause 5.3(a) and the Zoned Flow Delivery Right issued under clause 5.3(b) will each have attached to it as a connection point in the Water Entitlements Register each Connection Point in respect of which on Completion:
(i) a Connection Agreement is in place; and
(ii) the consent required by the Trading Rules for that attachment is provided.
Method of grant. Stock options shall be granted in any of the following methods as to be determined later by the board of directors of the Company (the “BOD”) pursuant to resolution of the BOD meeting dated March 14, 2003, approving the grant of stock options to the Grantee: (i) issuance of new shares; (ii) purchase and delivery of treasury shares; or (iii) payment of cash for the difference (between the exercise price of the stock option ad the market price of such shares, multiplied by the number of exercised options).
Method of grant. (a) Each Irrigation Right is to be granted by Tasmanian Irrigation and the relevant Holder of the Rights entering an agreement in the form of annexure 2 for the volume of water being the portion of the Rights in respect of which the grantee is registered as the holder in the Water Entitlement Purchase Contract (WEPC) Register.
(b) Each Zoned Flow Delivery Right is to be granted by Tasmanian Irrigation and the relevant Holder of the Rights entering an agreement in the form of annexure 3 for the flow rate being the portion of the Rights in respect of which the grantee is registered as the holder in the WEPC Register.
Method of grant. (a) The Irrigation Right is to be granted by Tasmanian Irrigation and the Purchaser (or the Purchaser’s nominee) entering an agreement in the form of annexure 2 for the Volume.
(b) The Zoned Flow Delivery Rights are to be granted by Tasmanian Irrigation and the Purchaser (or the Purchaser’s nominee) entering a separate agreement in the form of annexure 3 for each Zoned Flow Delivery Right.
(c) Where there is more than one Zone, the Flow Rate will be divided among the Zones in the manner:
(i) notified by the Purchaser to Tasmanian Irrigation at least seven (7) days before the Completion Date; or
(ii) if the Purchaser does not notify Tasmanian Irrigation within the time allowed by clause 3.3(c)(i), determined by Tasmanian Irrigation.
Method of grant. (a) The Irrigation Right is to be granted by Tasmanian Irrigation and each Holder of the Rights entering an agreement in the form of annexure 2 for the volume of water being the portion of the Rights in respect of which the grantee is registered as the holder in the Water Entitlement Purchase Contract (WEPC) Register.
Method of grant. Each Award will be evidenced by an Award Agreement that specifies the number of Units awarded, the Vesting of the Award, and such other provisions as the Board determines; provided, however, that the terms of the Award Agreement will not contain any provisions inconsistent with the terms of the Plan, and in the event of any conflict between a provision of the Plan and a provision of an Award Agreement, the provision of the Plan shall supersede and control. Each Participant shall sign and return the Award Agreement to the Company within 30 days (or such longer period as the Board may allow) of receiving the Award Agreement.