Covol definition
Examples of Covol in a sentence
Covol will bear the risk of loss of the proprietary binder ingredients while it is in transit.
In the event of a Facility Assignment, if the transferee fails to make (i) any royalty payment required by Sections 3 of this Agreement within 30 days of the due date therefor or (ii) any payment for the purchase of binder required by Section 4 of this Agreement within 30 days of the due date therefor, PacifiCorp Financial Services, Inc., an Oregon corporation ("PFS"), shall promptly pay Covol such unpaid amounts upon written demand therefor.
Covol shall only increase the price per pound of the binder to the extent of actual increases in its production costs resulting from increases in the costs of binder components charged by Dow Chemical or any successor supplier.
In no event shall the Covol Parties enter into any agreement or settlement inconsistent with the terms of this Agreement.
Covol represents and warrants that all proprietary binder shall be merchantable, free from defects, and shall conform to the specifications set forth on Exhibit A, which may be changed from time to time upon the written agreement of the parties hereto, except that Covol makes no warranty of fitness as applied to any potential feedstock due to the variability of feedstocks generally.
Employee shall have the responsibility to always act in the best interest of the Company and recognizes opportunities, ideas, and intellectual property relating to the business of the Company that are developed as an officer or employee of Covol Technologies, Inc.
At PSF's option, Covol shall replace, or refund the purchase price and cost of shipment of, all non-conforming proprietary binder ingredients.
Covol shall deliver or cause to be delivered the proprietary binder to the Facility at such times and in such quantities as from time-to-time requested by PSF.
If during the term of this Agreement a third party has infringed any intellectual property rights associated with the Coal Fuel Technology or otherwise misappropriated any Coal Fuel Technology, the Covol Parties shall, at their expense, institute and conduct legal actions against such third party or to enter into such agreements or accord in settlement as are deemed appropriate by the Covol Parties.
In addition to the benefits previously set forth in this Agreement, Employee shall, during the Period of Employment, be entitled to the benefits described below, and as concerns all such benefit programs where years of service are a factor, to the extent permitted by law, Employee shall be given credit for his years of service with Covol Technologies, Inc.