Fundamental Process definition

Fundamental Process means a process (including sensors, instrumentation, controls and heat exchangers) designed for the primary purpose of achieving heat release from any fuel whereby such fuel is gradually oxidized in a high-temperature vessel maintained at such high temperature.
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Examples of Fundamental Process in a sentence

  • If either Party believes that any E-C Patent included in the Fundamental Process is being infringed or is being misused by a third party, such Party will promptly notify the other Party of such infringement or misuse.

  • If such equitable adjustment cannot be settled by negotiation within 60 days of the institution of the Fundamental Process Change, the appropriate adjustment shall be determined by arbitration pursuant to Section 7(b).

  • The arbitration panel shall be instructed to adjust the entitlement of Royal Gold hereunder such that the Royalty payable to Royal Gold after the institution of the Fundamental Process Change will be equivalent to the Royalty that it would have been entitled to had the Fundamental Process Change not been instituted.

  • Notwithstanding the foregoing, E-C shall immediately notify D-R in the event that E-C grants to a third party an exclusive license to commercialize the Fundamental Process for gas turbine generators larger than 4 MW per unit, which notice shall specify the effective date of such third party license.

  • The Parties will establish a Joint Oversight Team as listed in Annex C; and through the Joint Oversight Team, cooperate in biennial joint review processes for both manufacturing and commercialization of the Combined System, and share lessons learned from the Power Oxidizer and Fundamental Process technology applications outside of the License range.

  • Subject to the terms and conditions of this Agreement, as long as the License remains Exclusive under the terms of Section 6.1 hereof, E-C hereby grants D-R a non-exclusive, worldwide right to commercialize the Fundamental Process for projects larger than 4 MW that are comprised of the KG2-3GEF/GO in multiple power blocks with E-C supplying the Gradual Oxidizer (the “Expanded License”) for which D-R shall not be obligated to pay any additional license fees.

  • Subject to the terms and conditions of this Agreement, D-R hereby irrevocably assigns to E-C all rights in and to any Fundamental Process Technology Developments developed during the Term of this Agreement and E-C hereby grants to D-R a non-terminable, perpetual, exclusive, irrevocable and royalty-free license of such Fundamental Process Technology Developments to make, have made, use and impart products, processes and/or services in connection with or related to 1-4MW gas turbines (“FPTD License”).

  • If E-C does not promptly pay the amounts set forth in (i) and (ii) above, D-R shall be entitled to promptly redeem the Fundamental Process Security in order to recoup such amounts.

  • If this Agreement is terminated by D-R after the Completed Test, D-R shall be entitled to promptly redeem the D-R Backstop Security in full but shall have no claim against the Fundamental Process Security.

  • Once both Parties have accepted all FSAT Deliverables, the Initial System testing will be deemed completed (such outcome a “Completed Test”, and the date of a Completed Test the “Acceptance Date”), and E-C may elect to terminate the Fundamental Process Performance Security.

Related to Fundamental Process

  • Fundamental Change Notice has the meaning specified in Section 3.05(b).

  • Non-Stock Fundamental Change means any Fundamental Change other than a Common Stock Fundamental Change.

  • Fundamental Change shall be deemed to have occurred at the time after the Notes are originally issued if any of the following occurs:

  • Common Stock Fundamental Change means any Fundamental Change in which more than 50% of the value (as determined in good faith by the Board of Directors of the Company) of the consideration received by holders of Common Stock consists of common stock that, for the 10 Trading Days immediately prior to such Fundamental Change, has been admitted for listing or admitted for listing subject to notice of issuance on a national securities exchange or quoted on Nasdaq National Market, provided, however, that a Fundamental Change shall not be a Common Stock Fundamental Change unless either (i) the Company continues to exist after the occurrence of such Fundamental Change and the outstanding Preferred Stock continues to exist as outstanding Preferred Stock, or (ii) not later than the occurrence of such Fundamental Change, the outstanding Preferred Stock is converted into or exchanged for shares of convertible preferred stock, which convertible preferred stock has powers, preferences and relative, participating optional or other rights, and qualifications, limitations and restrictions substantially similar (but no less favorable) to those of the Preferred Stock.

  • Form of Fundamental Change Purchase Notice means the “Form of Fundamental Change Purchase Notice” attached as Attachment 2 to the Form of Note attached hereto as Exhibit A.