Project Intangible Facilities definition
Project Intangible Facilities means the intangible property related to a new product or process based on new technology or the creative application of existing technology, including research and development, product or process testing, quality control, market research, and related activities, that is to be acquired, established, expanded, remodeled, rehabilitated, or modernized for industry, commerce, distribution, or research, or any combination thereof, the operation of which, alone or in conjunction with other eligible projects, eligible innovation projects, or innovation property described in Exhibit C attached hereto.
Examples of Project Intangible Facilities in a sentence
In whole or in part, assign this Agreement or lease or grant the right to occupy or use the Project to others, without the prior written consent of the Director; provided that notwithstanding the foregoing, the Company may enter into licensing arrangements on commercially reasonable terms with third parties for the license and use of the Project Intangible Facilities.