LICENSED PLANT means a plant (including modification, expansion or replacement thereof) licensed to operate pursuant to a Site License Agreement issued under the terms of this Agreement, at a site or sites, where such site or sites are deemed to be within the same lease or concession, within the Licensed Territory with a design production capacity measured in Barrels of Synthetic Product per day, using or designed to use Licensor Technology to practice the Conversion Process to produce Marketable Products.
LICENSED PLANT means the Licensed Plant in which a Site License Agreement for such plant is issued to and remains in the name of the Licensee who has executed this Agreement with Licensor and, in which the Participating Interest held by Licensee, or collectively by Licensee and any other Person who has executed a license agreement (which is applicable to the Licensed Plant) with Licensor, represents at least 10% of the entire Participating Interest not held by a governmental authority regardless of operatorship of the Licensed Plant.
LICENSED PLANT means the Licensed Plant in which this Site License Agreement for such plant is issued to and remains (subject to assignment pursuant to Section 8 of the Site License Agreement) in the name of the Licensee who has executed this Agreement with Licensor. B. "ROYALTY RATE" shall mean (i) the lowest royalty rate per Barrel of Synthetic Product accepted by Licensor for a Site License Agreement with a non-affiliate for a facility of comparable size, in the Licensed Territory, which is not under a master preferred license agreement, during the twelve (12) months immediately preceding the execution date of the applicable Site License Agreement under this Agreement, or (ii) if no such Site License Agreement has been executed during the twelve (12) months immediately preceding, then the royalty rate per Barrel of Synthetic Product in the last Site License Agreement with a non-affiliate, in the Licensed Territory, executed by Licensor, which is not under a master preferred license agreement, or (iii) if none of the foregoing applies, then US$0.495 per Barrel of Synthetic Product. Market Royalty Rate does not include the catalyst price as provided for under Section ------- 2.03. --- II. For each Site License Agreement executed for the Licensed Plant under this Agreement, Licensee agrees to pay (subject to Section 5.05 of the License Agreement dated August 2, 2000 between Syntroleum Australia Licensing Corporation (as Licensor) and Commonwealth of Australia as Licensee (LICENSE AGREEMENT) License Fees to Licensor on a prepaid license basis as follows: A. Licensee agrees to pay Licensor a one-time, prepaid License Fee calculated in accordance with the following formula: License Fee = "C" x 350 x 7.5 x "R" wherein: "C" = the maximum daily design capacity, as defined by the Process Design Package, of such Licensed Plant to produce Marketable Products measured in Barrels of Synthetic Product per day for which such Licensed Plant is originally designed and constructed, and "R" = the Royalty Rate. and payable in installments as follows: (i) 20% within thirty (30) days after the execution of this Site License Agreement for such Licensed Plant; (ii) 30% within thirty (30) days after delivery of the Process Design Package or within one hundred twenty (120) days after the execution of this Site License Agreement for the Licensed Plant, whichever first occurs; (iii) 20% within thirty (30) days after the commencement of field construction move-in; (iv) 30% within one-hundred and t...
Examples of LICENSED PLANT in a sentence
THE LICENSED PLANT comprised the following process units:- The plant shown in the schematic drawing attached as Appendix G and which forms part of this Appendix.
More Definitions of LICENSED PLANT
LICENSED PLANT means one (1) fixed plant licensed to operate under the terms of the Agreement, located at 36000 Xxxxxxx 00, Xxxxxxx, Xxxxxxxxx, 00000, with a design production capacity of a Nominal 210,000 gallons of Bio-Synfined Renewable Fuels per day, using or designed to use the Syntroleum Bio-Synfining Technology to produce Bio-Synfined Renewable Fuels.
LICENSED PLANT means a facility incorporating a Xxxxxxx-Tropsch reactor utilizing Rentech Technology, including Rentech Patent and Copyright Rights and Rentech Technical Information, which is licensed under this Agreement.
LICENSED PLANT means a plant licensed to operate under the terms of a Site License Agreement within the Licensed Territory with a design production capacity measured in gallons of Biofined Renewable Fuels per day, using or designed to use the Syntroleum Biofining Technology to produce Biofined Renewable Fuels.
LICENSED PLANT means a plant (including modification, expansion or replacement thereof) licensed to operate pursuant to a Site License Agreement issued under the terms of this Agreement, at a site within the Licensed Territory with a design production capacity measured in Barrels of Synthetic Product per day, using or designed to use Licensor Technology to practice the Conversion Process to produce Marketable Products. 1.16 "LICENSED TERRITORY" means all the countries of the world and their respective territorial waters, except for United States of America, Canada, Mexico, the People's Republic of China, India, and any country that, at the time the applicable Site License is executed, may be prohibited or restricted by the United States government from receiving Licensor Technology or the products thereof. 1.17 "LICENSEE PATENT RIGHTS" means all rights with respect to patents and patent applications of all relevant countries to the extent that the claims cover features or aspects of Inventions or Improvements practiced in a Licensed Plant, in each case to the extent that, and subject to the terms and conditions under which, Licensee has the right to grant licenses, immunities or licensing rights without having to make payment to others. 1.18 "LICENSEE TECHNICAL INFORMATION" means all unpatented Inventions or Improvements practiced in a Licensed Plant, in each case to the extent that, and subject to the terms and conditions under which, Licensee has the right to grant licenses, immunities or licensing rights without having to make payment to others. 1.19 "LICENSOR CATALYST INFORMATION" means, without limit, information relating to any catalyst, catalyst formulation, conditioning procedure, start-up procedure, regeneration procedure, or performance considered to be proprietary by and to Licensor Initial___and___ 5 COPY ____OF__6___ SYNTROLEUM MASTER LICENSE AGREEMENT -------------------------------------------------------------------------------- CONFIDENTIAL - DO NOT COPY or acquired by Licensor which is useful in the practice of the Conversion Process and which has been used commercially or is ready for commercial use. Licensor Catalyst Information shall not include any information relating to methods for manufacturing catalysts for use in the Conversion Process.
LICENSED PLANT means a waste incineration plant employing the Proprietary Equipment.
LICENSED PLANT means the Initial IBR Plant of the Capacity of 440 tonnes per day to be constructed and operated by MOM at the Location;
LICENSED PLANT means any Xxxxxxx-Tropsch plant, whether the feedstock of such plant is natural gas, coal, petroleum, petroleum-coke, or other feedstock, whether air- or oxygen-based, land- or marine-based, or based on cobalt catalysts (including modification, expansion or replacement thereof), in which Marathon (or its successor) or an Affiliate has a working, net profits, equity, or other economic interest, provided that, a Licensed Plant may not utilize biomass or municipal waste as a feedstock.