Technology Right definition
Examples of Technology Right in a sentence
Any option granted by Baylor under this Agreement to receive any license under or to or regarding any Technology or Technology Right is granted by Baylor only to the extent that Baylor Controls such Technology and the Technology Rights in such Technology.
If BMO exercises the 1999 Technology Right, 724 will not license the 724 Technology to any other Canadian Financial Institution during, and for an additional six (6) months following: (a) the Second Year; and (b) any subsequent year in which the Continuing Alliance arrangement exists.
After the Second Anniversary, if BMO exercises the 1999 Technology Right and pays the 1999 Licence Fee, but does not exercise its right to enter into the Continuing Alliance after the Second Anniversary, "LICENSED TECHNOLOGY" shall be extended to include the first version of each 724 Channel that is partially completed as at the Second Anniversary and that is finally released to 724's customers generally.
The approval of the Board Directors required and the right of first refusal granted under this Section 2.4.3 shall apply during the First Year; and if BMO exercises the 1999 Technology Right, during, and for an additional six (6) months following: (a) the Second Year; and (b) any subsequent year in which the Continuing Alliance arrangement exists.
If BMO exercises the 1999 Technology Right, pays the 1999 Licence Fee AND subscribes for the 1999 Shares in accordance with the terms and conditions of the Subscription Agreement, it may elect prior to the Second Anniversary, and at each anniversary thereafter, to continue as a development partner with 724 for an additional year (the "CONTINUING ALLIANCE") in consideration of the Continuing Alliance Fee, adjusted once annually for increases in CPI.
The approval of the Board Directors required and the right of first refusal granted under this Section 2.4.4 shall apply during the First Year; and if BMO exercises the 1999 Technology Right, during, and for an additional six (6) months following: (a) the Second Year; and (b) any subsequent year in which the Continuing Alliance arrangement exists.
Any option granted by Baylor under this Agreement to receive any license under or to or regarding any Patent Right or other Technology Right is granted by Baylor only to the extent that Baylor Controls such Patent Right or other Technology Right.
If BMO exercises the 1999 Technology Right, 724 will grant BMO the right of first refusal to be the financial services provider in any other arrangement that includes a payment transaction in Canada during the Second Year and any subsequent year in which the Continuing Alliance arrangement exists.
Halliburton shall be deemed to have not exercised the Technology Right if an Exercise Notice is not sent during the Notice Period, and Seller shall then be free to market such New Technology to another party.
If BMO wishes to exercise the 1999 Technology Right, BMO shall execute and deliver the Notice of Exercise of Option to 724 by the 1999 Exercise Date.