OPEL definition
Examples of OPEL in a sentence
UCONN shall have the right, during business hours, but no more often than annually, to examine, or to have its designated auditors examine, such records and books, subject to the agreement of OPEL as to when and where such audit may be conducted.
UCONN shall enter and be subject to a mutually agreeable non-disclosure agreement that commits UCONN not to disclose to any third party OPEL confidential information learned through an examination of such records and books, except as required by law, nor shall UCONN use any such information for any purpose other than determining and enforcing its rights under this Agreement.
If OPEL notifies UCONN within sixty (60) days of such disclosure that it wishes to file a patent application claiming such invention, then such invention shall automatically become Intellectual Property licensed to OPEL under this Agreement and subject to the terms and conditions of this Agreement.
If OPEL decides to not file a patent application(s), UCONN shall have the right to pursue the same at UCONN’s expense and then UCONN shall have the right to use or license to third parties the Patent Rights that are the subject of such patent application(s); provided, however, that such use or license does not otherwise conflict with the terms of this Agreement.
The term of this Agreement shall commence upon the Effective Date and expire upon the Expiration Date, after which time OPEL shall have no further obligation to UCONN hereunder, except as described in this Article IX.
If UCONN supplies OPEL with evidence of a third party’s infringement of the Intellectual Property, UCONN may, by notice, request OPEL to take steps to enforce UCONN’s Intellectual Property rights.
OPEL shall pay to UCONN an annual maintenance fee of Fifty-Thousand Dollars ($50,000.00) (the “Annual Maintenance Fee”), The first such payment shall be due on March 31st following the first year in which OPEL ships One Hundred Thousand Dollars ($100,000) of Product based on the revenue received for such Product by OPEL and thereafter payable on each subsequent March 31st.
Any such academic collaborators of UCONN must, in advance, enter a non-disclosure and non-use agreement that contains the above prohibitions, that covers such components and devices and is satisfactory to UCONN and OPEL and is executed before delivery of such components or devices to the academic collaborator.
Should there be any other proposed changes in the daily operational procedures and processes outside of the changes described in the OPEL (e.g. safeguarding arrangements) that need to be adopted by the Trust to deliver the Service, the Trust will report the proposed change to the Healthy Child Board for agreement prior to implementation.
Section 4.2 However, any delay or failure that is attributable in whole or in part to the UCONN laboratory facility used by OPEL to develop the Products, shall be deemed to be an event of Force Majeure and the above four (4) year deadline shall be extended by the period of time that such failure or delay occurred, but in no case shall be extended beyond a total of six (6) years; Other events of Force Majeure may also be applied to extend the four (4) year deadline.