Ownership Upon Termination Sample Clauses
The "Ownership Upon Termination" clause defines how ownership of intellectual property, materials, or deliverables is handled when a contract ends. Typically, it specifies whether rights to work completed up to the termination date remain with the client, the service provider, or are divided in some way. For example, it may state that all completed deliverables are transferred to the client, while unfinished work or pre-existing materials remain with the provider. This clause ensures clarity and prevents disputes by clearly allocating ownership rights when the contractual relationship concludes.
Ownership Upon Termination. In the event of termination all of Contractor's Work Product to date shall be delivered to the City, and it will become and remain property of the City.
Ownership Upon Termination. If Concessionaire's occupancy of any Unit is terminated, City shall have rights to the ownership of the improvements and, if and only if the termination is pursuant to Section 9.1.1 herein, City shall reimburse Concessionaire for the undepreciated net Book Value of the improvements (which improvements cannot be removed without doing structural damage) based upon the straight-line depreciation of the total term of the Agreement, with no residual value, provided (a) Concessionaire has obtained all necessary approvals for their construction,
Ownership Upon Termination. If Concessionaire's occupancy of any Unit is terminated, City shall have rights to the ownership of the improvements and, if and only if the termination is pursuant to Section 9.1.1 herein, City shall reimburse Concessionaire for the undepreciated Net Book Value of the Initial Improvements and the improvements constructed as part of the Mid-Term Refurbishment (which improvements cannot be removed without doing structural damage) based upon a 10-year straight-line depreciation, with no residual value, provided (a) Concessionaire has obtained all necessary approvals for their construction, (b) Concessionaire has reported each 09-11-14 Retail Is1 Amended Concession Agr K:RT/CDG/Concessions/T4578 Rev/FB/ Concessionaire, LAA-8551 improvement, its costs, and the date upon which its depreciation began, (c) that architectural and design costs do not exceed fifteen percent (15%) of the cost of the improvements, (d) all said costs are properly supported and made available for audit, and
Ownership Upon Termination. Title to all leasehold improvements and furniture, fixtures and equipment which cannot be removed without causing any damage shall vest in City upon termination of the contract. If the Concessionaire's occupancy of a given facility is terminated pursuant to Sections 10.1 or 11.2 herein and their subsections, City will reimburse Concessionaire for the unamortized Net Book Value of its existing structural improvements (and improvements which cannot be removed without doing damage) based upon a 10-year straight-line depreciation, with no residual value, provided the Concessionaire has obtained all necessary approvals for their constriction, and also provided the Concessionaire has reported each improvement, its costs, and the date upon which its depreciation began, and also provided that architectural and design costs do not exceed 10% of the cost of the improvements and all said costs are properly documented and supported by receipts and made available for audit. All said costs must be direct costs 'd by Concessionaire to independent contractors and suppliers for work actually performed on said premises, materials furnished or professional services rendered. Costs associated with Concessionaire's employees shall not be included in the calculation of these costs. To become reimbursable the Concessionaire shall at its expense provide City with "as-built" drawings and paid invoices, showing material and labor costs involved in the construction of the approved structural improvement within 90 days of the date that the improvement was put into service. The straight line depreciation shall begin on the first day of the month in which the improvement was placed in service. City may require Concessionaire to remove any or all of its removable improvements. Title to all improvements for which Concessionaire is reimbursed or which have been depreciated shall thereupon vest in City.
Ownership Upon Termination. Upon termination of this Agreement, each party shall retain ownership of assets purchased with its respective funds unless both City and MCVFD elect to negotiate terms to transfer ownership to the other party. Each party shall maintain and keep insurance on the assets owned by the entity.
Ownership Upon Termination. Notwithstanding the foregoing, to the extent Amgen shall have transferred any pre-clinical and/or clinical data to Guilford in connection with a termination of this Agreement by Amgen as specifically provided in Sections 12.3 or 12.5 (b) below, (i) all raw in vivo, in vitro and clinical data included in the transferred data will be Guilford Confidential Information, (ii) all forms, methodologies and information used in the preparation of such data which are proprietary to Amgen will be Amgen Confidential Information (provided Amgen will grant to Guilford the right to use such information but only to the extent necessary to allow Guilford to use the transferred data) and (iii) and all other data and information will be Joint Confidential Information hereunder.