Development Notice definition
Examples of Development Notice in a sentence
The Development Notice shall completely describe the Employee Intellectual Property and the applications for such Employee Intellectual Property.
Employee agrees that he will not directly or indirectly disclose the existence of the Employee Intellectual Property to any third party unless Company either notifies Employee in writing that Company does not elect to purchase or license the Employee Intellectual Property or Company fails to notify Employee of its intent with regard to the purchase or license of the Employee Intellectual Property within 30 days after the date of Company's receipt of the Development Notice.
If within 30 days after Company's receipt of the Development Notice Company notifies Employee that Company would like to purchase or license the item of Employee Intellectual Property which is the subject of the Development Notice, then Company and Employee shall negotiate in good faith for the purchase or license of such item of Employee Intellectual Property.
Once the MC Partners have provided the Office/Hotel Development Notice and the Component, phase or sub-Component has been conveyed and/or the partnership interests in the Component Entity issued, the Office/Hotel Component Owner shall be obligated to pay all Allocated Annual Payments that are thereafter due.
The MC Partners shall have thirty (30) days after receipt of a Market Development Notice to elect, by written notice to MDLP, to proceed with the Take Down on the date specified in the Market Development Notice.