Ad-Trax definition
Examples of Ad-Trax in a sentence
For a period of two (2) years from and after the Closing Date, neither of Lapin nor Lambert will engage directly or indirectly in any business that Century ▇▇▇▇▇▇▇s as of the Closing Date other than business with Ad-Trax; provided, however, that no owner of less than five percent (5%) of the outstanding stock of any publicly-traded corporation shall be deemed to be engaged solely by reason of such stock ownership in any of its businesses.
Parent shall also have the option to license the Ad-Trax software at the rate of $2,000 per month for the first five years of the license period and $2,500 per month thereafter.
If such option is exercised, Parent shall deliver a cash payment of $125,000 to Ad-Trax to be reflected as a contribution to capital and then distributed to the members, other than Parent, prorated with their interests.
Except for Intellectual Property relating to Ad-Trax, each item of Intellectual Property owned or used by Century immediately prior to the Closing hereunder will be owned or available for use by Century on identical terms and conditions immediately subsequent to the Closing hereunder.