KGSI definition
Examples of KGSI in a sentence
Licensee shall pay to BP twenty percent (20%) of the annual minimum royalty due from BP to KGSI under Section 4(a) of the KGSI Agreement.
Licensee shall not transfer or provide access to the KGSI Organism to any Person, or to any location not under Licensee’s direct ownership or control, without the prior express written consent of BP.
Licensee shall limit access to the KGSI Organism to only those of its employees and contractors directly involved in the exploitation of the license granted in Section 2.1 hereof, and only to the extent such access is reasonably necessary in connection with such activities, and Licensee shall keep and maintain a log of individuals who are granted access to the KGSI Organism.
As consideration in part for the grant of the sublicense set forth herein, Licensee covenants that it shall not knowingly, through its actions or inactions, directly or indirectly, cause BP to be in material breach of the KGSI Agreement, or challenge the validity or enforceability of the KGSI Technology or KGSI Technical Information.
No later than July 31 of each year (or the next following business day if July 31 falls on a weekend), Licensee shall provide to BP a report setting forth the amount (in gallons) of fuel grade ethanol produced by Licensee using the KGSI Technology and KGSI Technical Information during the immediately preceding Reporting Year.
For clarity, the rights granted to Licensee in this Section 2.1 specifically excludes the right to market, distribute, import, export, sell, offer for sale or otherwise dispose of the KGSI Organism, except as expressly set forth in Section 2.3 hereof.
The stock strain of the KGSI Organism shall be stored in a secure location, separate from other strains of microorganisms in Licensee’s facilities, and Licensee shall take all other reasonable precautions with respect to the KGSI Organism that Licensee takes with respect to its most valuable trade secrets.
Notwithstanding anything in this Article IX to the contrary, in the event KGSI is made party to any such dispute, the process for resolving such dispute shall be governed by Section 10 of the KGSI Agreement.
Subject to the KGSI Agreement and this Article III, all right, title and interest in and to new application technology consisting of conversion processes in the Field of Use which are derived from or arising as a result of the practice of the KGSI Technology and KGSI Technical Information by Licensee, which Licensee may have, make or develop, shall be owned by Licensee.
Licensee shall pay to BP a royalty equal to Licensee’s volume-proportionate share of the Total Royalty Payments due to KGSI under the KGSI Agreement during any twelve (12) month period commencing on July 7 of each year, and ending on July 6 the following year (each, a “Reporting Year”).