Initial Licenses definition
Examples of Initial Licenses in a sentence
Full payment for the Initial Licenses shall occur immediately upon conversion of the Note under the terms thereof.
Each license covers one Licensed Product only and neither the Initial Licenses or the Additional Licenses are transferable from one Licensed Product to another.
Prior hereto, members of the Nextel Group have assigned to License Co. the Initial Licenses.
In the event that Licensee fails to meet the Development Schedule (regardless of the month in which such noncompliance with the Development Schedule occurs), the Initial Licenses which Licensee has developed and opened for business shall remain unaffected; however, Licensee shall lose the right to develop the remaining Initial Licenses and Licensor shall, within such Facilities, have the right to provide (or contract with a third party to provide) services which may be competitive with Licensee’s services.
The Parties agree that while additional Licenses may be granted from time to time pursuant to section 1.1 above, this Agreement does not obligate either Party to agree to any additional Licenses other than the Initial Licenses.
At the Initial Closing Date, Iconic, the Licensors, the Artists and/or their respective designees, will be issued Warrants for an aggregate of 4,000,000 Warrant Shares (the “Initial Warrants”) consisting of Warrants for 2,000,000 Warrant Shares allocable to each Sublicense of the two Initial Licenses, subject however, as more fully set forth in Section 2.2 below, to increase for each of the Initial Warrants to contain 3,000,000 underlying Warrant Shares.
Within three (3) business days following the Initial Delivery Date, Iconic shall execute and deliver to Parlux a signed Sublicense in the form attached hereto as Exhibit C (the “Sublicense”) for each of the Initial Licenses sublicensing each Initial License to Parlux.
No action, suit, investigation or proceeding (except for any action, suit, investigation or proceeding relating to FCC matters, which shall be governed solely by the condition set forth in Section 8.1(c)) shall have been instituted to restrain or prohibit or otherwise challenge the legality or validity of the transactions contemplated hereby, or which would materially adversely effect the right of Buyer to own and control the Initial Licenses following the Initial Closing.
The FCC shall have consented to the assignment of the Initial Licenses to Buyer and such consent shall have become a Final Order, without any additional unreasonable expenses or requirements imposed on Buyer as a condition to transfer.
Attachment 1 to this Exhibit K sets forth licenses associated with software applications running on laptops, desktops and workstations in addition to licenses associated with software applications running on production/test network equipment and field equipment listed as Included Assets in Exhibit I, and which licenses are considered to be Initial Licenses required in order for Supplier to perform the Services under this Agreement.