Grow Tech definition
Examples of Grow Tech in a sentence
Other than the former subsidiary Eroll Grow Tech Ltd., which was removed from the Company by the Courts in Israel pursuant to a Liquidation hearing on March 25, 2020.
Notwithstanding the foregoing, it is agreed by the Parties, however, that Grow Tech agrees to provide a first-look opportunity to Sky of any Projects it may acquire, develop and or produce ("Additional Projects") under the same terms and conditions agreed to herein.
Sky and Grow Tech shall provide for a joint bank account, mutually approved by the parties, and shall collect and disburse all revenues received from the exploitation of the Projects.
Of portions payable to Sky and Grow Tech, 50% shall be paid to Sky, and 50% shall be paid to Grow Tech, in perpetuity, from all revenue streams.
Grow Tech agrees that and acknowledges that in consideration for Sky's covenants contained herein, Sky shall have the exclusive first right of refusal to arrange or provide for the financing of each Project, upon the terms contained herein, and that production for each Project shall not commence until the financing agreement shall have been executed by the parties.
In order for a Project to be governed by the terms of this Agreement, it shall be introduced to the Venture by Sky and/or Grow Tech, and shall be subject to the mutual approval of Grow Tech and Sky.
Any deferments contemplated by the parties hereto must be defined and attached to the Project budget and must be mutually approved by Sky and Grow Tech.
The Venture will negotiate an agreement with Grow Tech and Sky that (1) provides Grow Tech and Sky with enough comfort to provide the Projects and funding provided for herein, (2) contains terms and conditions acceptable to Grow Tech and Sky, and (3) restricts the ability of Sky to call on the funds in the joint account without the expressed written consent of Grow Tech except in the case of default.
Sky and Grow Tech hereby form an exclusive Joint Venture (the "Venture") to finance, produce and distribute or lease the Grow Tech Product line, including, but not limited to, the high tech growing environment repurposed steel shipping containers currently called "C-Pods" ("Product(s)) and other Products to be identified by Sky and Grow Tech (hereinafter sometimes collectively referred to as the "Projects") in accordance with the terms of this Agreement.
No Governmental Authority will have enacted, issued or promulgated any Governmental Order that remains in effect, and has the effect of prohibiting the consummation of, the Closing and no such Governmental Order shall have been threatened by a Governmental Authority.