NTC Development Area definition
NTC Development Area means a certain portion of JV’s cleanroom space that NTC may use to set-up a development line using NTC equipment, at NTC’s cost.
Examples of NTC Development Area in a sentence
NTC may use the NTC Development Area to set up at its own cost a development line.
Until the JV is ready to equip the NTC Development Area for its own purposes, NTC may use the space assigned to it free of charge.
In case of such continued use by NTC the Buyers and the JV shall agree on a reasonable monthly rent payable by NTC to JV for the continued use of the NTC Development Area.
NTC shall then bindingly declare, if it wishes to continue using the NTC Development Area or decommission it at its own cost.