Reversionary Rights Sample Clauses

Reversionary Rights. As such time as Payout is reached, McMoRan shall have the option to be assigned, effective as of the date of Payout, an undivided fifty (50%) percent of the working interest and net revenue interest in the Assets at such time (the "Reversionary Rights"), free of any burdens created or caused by El Paso. If McMoRan elects to receive an assignment of its Reversionary Rights, El Paso and McMoRan shall thereafter share equally in all revenues and costs from the Assets subject to the applicable Operating Agreement therefor; provided however that El Paso shall remain solely responsible for all costs, expenses and liabilities with respect to the Reversionary Rights properly incurred by El Paso prior to Payout. El Paso shall notify McMoRan in writing of its option to elect within thirty (30) days after it has determined that Payout has occurred. McMoRan shall have thirty (30) days after receipt of such notice to elect in writing to exercise its option to be assigned the Reversionary Rights or not to be assigned its Reversionary Rights. McMoRan's election shall be made for the entirety of the Assets and not on a Prospect-by-Prospect basis. Failure to respond by McMoRan shall be deemed to be an election not to be assigned the Reversionary Rights.
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Reversionary Rights. Units that are initially beginning a twelve (12) hour schedule will be given a 90-day trial period to determine if the schedule works well for each nurse. At the end of the 90-day trial period an evaluation of the twelve (12) hour schedule will occur. The unit manager, in consultation with affected nurses, will determine: 1) if the twelve (12) hour schedule will continue as established, 2) if some nurses will be able to continue the twelve (12) hour schedule or, 3) if the unit will return to the schedule that was in effect prior to the trial period. Following the ninety (90) day period, for units with the combination of eight (8) and twelve (12) hour schedules, management may revert part or all of the twelve (12) hour schedules back to eight (8) hour when for reasons such as inability to recruit and fill positions, or mismatched schedules result in an inability to meet the care delivery/staffing needs, etc. In this situation, the following method will be used to reallocate the affected staff: * Affected staff and the Association will be notified fourteen (14) days in advance of the reallocation. * A revised schedule will be developed in consultation with the affected unit staff. This schedule will be implemented thirty (30) days from the notification date unless mutually agreed by management and the majority of staff. * Reallocation will be achieved by the most to least senior affected staff selecting from the available shifts and hours on the new schedule. * Selection will be based on equivalent hours, as defined in 9.5.1. * Nurses who are not assigned a position of equivalent hours shall be eligible for the layoff/reassignment procedure.
Reversionary Rights. (a) In the event that Sublicensee enters into an agreement or otherwise obtains or develops the rights to market or sell a product that directly competes with the Sublicensed Products (a "Competing Product"), it shall promptly notify Sublicensor of the existence of such agreement or rights and the country or other geographic territory in which it intends to market or sell such Competing Product (a "Sub-Territory"). Sublicensor shall have a period of thirty (30) days after such notification to elect, in its sole discretion, to terminate the license granted to Sublicensee in Section 1.1 with respect to such Sub-Territory. Notwithstanding any such termination pursuant to this Section 1.3(a), Sublicensee shall continue to have the right to fulfill any outstanding orders for Sublicensed Products and to sell any Sublicensed Products then shipping, in inventory or in production.
Reversionary Rights. The Optionor enjoys reversionary rights upon the Property and the area of interest during the life of this agreement, and any portion of the Property deemed unsuitable to the Optionee shall be offered to the Optionor before July 1 of any year. In the event the Optionor accepts the offered property, the Optionee shall provide a quit claim to the subject portions of the property and indemnify and hold harmless the Optionor from any liabilities be it environmental, lien, mortgage, or other liability caused or found during the tenure of the Optionee.
Reversionary Rights. The Lease shall terminate and the Property shall revert to the Town if construction is not undertaken within 18 months of satisfaction of the Conditions Precedent or if the intended International Marathon Center does not commence operations within 36 months after satisfaction of the Conditions Precedent.
Reversionary Rights. All rights, title and interest of Seller in and to any reversionary rights, if any, attributable to the Subject Property or said appurtenances.
Reversionary Rights. InfoLogix will undertake reasonable steps to ensure that the Protected Items (as defined herein) remain in full force and effect. In the event that InfoLogix makes an affirmative determination not to maintain or procure a patent, patent application or invention, including any continuation, division or extension of same (“Protected Item”) in a jurisdiction where Seller owned the right to such Protected Item prior to Closing, InfoLogix shall provide the Shareholders with notice of its determination not to maintain or procure a Protected Item, which notice shall be no less than thirty days prior to the termination of the rights of the Protected Item, and the Shareholders shall have the right of reversion to such Protected Item, with respect only to such jurisdiction, from InfoLogix for nominal consideration of $1.00.
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Reversionary Rights. On termination of this Agreement all Licensed Rights of the Licensee granted by this Agreement are abrogated and canceled forthwith except as specifically provided in this Agreement.
Reversionary Rights. In the event that LICENSEE fails either to: (a) commence Phase I testing within three (3) months after the date of approval of an IND, (b) Phase II testing within nine (9) months of the date of such approval, (c) Phase III testing within twenty-seven (27) months of the date of such approval, or (d) submit an NDA for approval in the United States, Japan, the U.K., Germany, France, Belgium, or Canada within five (5) years of the date of the IND approval, then CURE may make a written demand that LICENSEE begin such phase of testing or submit such NDA for approval, it being understood, however that if the delay in commencing such phase of testing or obtaining such approval is a result of difficulties in recruiting clinical research subjects for Phase III clinical trials, or the result of other similar technical or logistical difficulties with respect to factors outside of LICENSEE's or its sub-licensee's control, then CURE shall refrain from making the aforementioned written demand so long as, in CURE's reasonable judgment, LICENSEE and/or its sub-licensee is acting in good faith and using its best efforts to recruit such clinical research subjects, or to address such other difficulties. If LICENSEE has not commenced such testing or submitted such NDA application within sixty (60) days after receiving such demand, and if CURE has not withdrawn its demand, then all rights to the Patents transferred by this Agreement shall revert to CURE at CURE's option, as provided below, unless either (i) such delay is necessitated by the U.S. FDA or other regulatory agencies and LICENSEE is working diligently to end such delay, or (ii) LICENSEE pays to CURE, commencing on the sixty-first (61st) day following LICENSEE's receipt of CURE's notice and continuing monthly thereafter as provided herein, the sum of: (w) ten thousand dollars ($10,000) per month for up to a maximum of three (3) months, and twenty-five thousand dollars ($25,000) per month for up to three (3) months thereafter, for delays in commencing Phase I testing, (x) fifteen thousand dollars ($15,000) per month for up to a maximum of three (3) months, and thirty thousand dollars ($30,000) per month for up to three (3) months thereafter, for delays in commencing Phase II testing, (y) twenty-five thousand dollars ($25,000) per month for up to a maximum of three (3) months, and fifty thousand dollars ($50,000) per month for up to three (3) months thereafter, for delays in commencing Phase III testing, or (z) fifty th...
Reversionary Rights. Optionor retains reversionary rights to all property within the boundary of the Area of Interest as long as Optionee, its subsidiaries or assigns holds title. At such time in the future that Optionee, its subsidiaries or assigns decides any and all property held by Optionee within the referenced Area of Interest is unnecessary to the pursuit of an ore deposit, Optionee, its subsidiaries or assigns will offer said Properties to Optionor, its subsidiaries or assigns at least 60 days prior to any fees, taxes, payments or other assessment being due and payable. Optionee, its subsidiaries or assigns will make available any and all data to Optionor to evaluate the potential or lack thereof of the offered property. Optionor will be obligated to accept in writing, by fax or verbally within 30 days of notification. At such time that Optionor accepts any part of a Property, Optionee, its subsidiaries or assigns will transfer any and all drill core, pulps, rejects, digital and other data available for the above referenced property.
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