Common use of OPERATIONS AGREEMENT Clause in Contracts

OPERATIONS AGREEMENT. During the Interim Phase, Intracel and Lehigh agree to negotiate in good faith the terms of an Operations Agreement to be entered into at the Final Closing by ICC, Intracel and Lehigh (the "OPERATIONS AGREEMENT"). The Operations Agreement shall set forth all the rights and obligations of ICC, Intracel and Lehigh during the Operational Phase, including, but not limited to, those rights and obligations described in Sections 5 and 7 above and the additional operational rights of Intracel and Lehigh described below. In the event of an inconsistency between the terms and conditions of this Agreement relating to the rights and obligations of ICC, Intracel and Lehigh with respect to those contained in the Operations Agreement, the Operations Agreement's terms and conditions shall govern. The parties hereto shall each use its best efforts to cause ICC to execute the Operations Agreement on the Final Closing Date.

Appears in 2 contracts

Sources: Joint Venture Agreement (Intracel Corp), Joint Venture Agreement (Intracel Corp)