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Key Clauses
Technology License Agreement (Exhibit B to Purchase and Installation Agreement)
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Technology License Agreement (Exhibit B to Purchase and Installation Agreement) - attorney-drafted template. Party names and deal-specific details have been replaced with neutral placeholders. Review before use.
[COMPANY]
LICENSE AGREEMENT
This License Agreement (this “License”) is entered into and made effective as of the _________ day of __________, 2010 (the "Effective Date") by and between ____________, (“Producer”), and [COMPANY], a Washington corporation (“Licensor”).
RECITALS
WHEREAS, Producer has entered into certain Equipment Purchase and Installation Agreement including the General Terms and Conditions to the Equipment Purchase and Installation Agreement dated _____________ (the “”) with Licensor, under which Licensor is to install the Licensor system (the "System") for Producer at their facility located at ______________ (the “Plant”); Purchase and Installation Agreement
WHEREAS, Producer has entered into that certain Oil Marketing and Distribution Agreement dated _________________ (the "Oil Distribution Agreement") with Licensor, under which Licensor shall take Delivery of the oil production of the Plant for sale and distribution to third Parties for a mutually agreed upon commission;
WHEREAS, the System is a patent pending waste plastic-to-oil recycling system including the ICS system and any updates thereto;
WHEREAS, the System can be operated remotely by Licensor and Producer shall provide the requisite internet connection and Licensor appropriate access thereto;
WHEREAS, Licensor has granted Producer the right to use certain proprietary technology and information of Licensor for purposes of operating the System for the production of oil; and
WHEREAS, Producer desires from Licensor, and Licensor desires to grant to Producer, a limited license to use such proprietary technology and information in connection with Producer’s ownership, operation, maintenance and repair of the Plant, all upon the terms and conditions set forth herein.
AGREEMENT
NOW, THEREFORE, the Parties, in consideration of the mutual promises contained herein, including the above Recitals which are incorporated and made a part of this Agreement, and for other good and valuable consideration, receipt of which is hereby acknowledged, agree as follows:
GRANT OF LICENSE
Upon substantial completion of the Plant by Producer pursuant to the terms of the and, upon payment by Producer of all amounts due and owing to Licensor under the , Licensor grants to Producer a limited license to use the Proprietary Property (hereinafter defined) solely in connection with the ownership, operation, maintenance and repair of the Plant, subject to the limitations provided herein (the “Purpose”). Purchase and Installation AgreementPurchase and Installation Agreement
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Technology License Agreement (Exhibit B to Purchase and Installation Agreement)
License Agreements -- US - General