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2.7Other Bio-Energy Projects
2.7.1The Parties agree that, during the development and implementation of the Project(s), Evolution Energy LTD and SOLENA may jointly explore and/or develop new, future projects for the production of bio-energy, whether in the form of renewable synthetic fuels, renewable power, or renewable syngas, at other locations, as well as other sites identified by Evolution Energy LTD.
3.1Except as otherwise provided in Article 2.5 above and elsewhere in this Agreement, or by agreement of the Parties, each Party will be solely responsible for all costs, and expenditures for their roles and responsibilities as set forth in this Agreement properly incurred by it prior to Financial Close in developing the Project(s).
3.2Each Party shall also bear its own expenses incurred in supporting and cooperating with the other party for the purpose of accelerating the execution of the development milestones set forth in this Agreement.
3.3All payments as to the costs and expenses hereunder shall be made upon mutual written agreement of the Parties.
3.4It is the Parties’ intention that, upon Financial Close of the Project(s):
(a)The Project(s) SPE will be responsible for all specific project engineering including site engineering costs,
(b)SOLENA The Project (s) SPE shall be responsible for the front end engineering (FEED), or any EPC related engineering costs prior to Financial Close; and
(c)The Parties will recover and be reimbursed by the SPE the entirety of all those development costs incurred by each of them it in relation to the Project(s). Such development costs may be reimbursed in cash or capitalized as shares in the equity of the SPE.
The parties hereby agreed to each other:
4.1For the purposes of this Agreement, “Confidential Information” means any oral, written, graphic or machine-readable non-public information disclosed in connection with this Agreement disclosed by one Party (“Disclosing Party”) to the other (“Receiving Party”). Confidential Information includes, but is not limited to, technical data, trade secrets, curricula, know-how, research, software, inventions, algorithms, formulas, technology, designs, schematics, drawings, engineering, and hardware configuration information relating to such technology; and (ii) operations and business or financial plans or strategies, student data, student lists, vendors, suppliers, markets, financial statements and projections, product pricing and marketing, and financial or other strategic business plans or information.
4.2The Parties shall jointly determine a part of the confidential information which may be disclosed to potential investors, the order and terms of such disclosure.
4.3Keep confidential all Confidential Information concerning the business and affairs of the other that it shall have obtained or received as the result of the discussions and correspondence leading up to or the entering into or performance of this Agreement.
4.4Not to disclose the Confidential Information in whole or in part to any other person save those of its employees involved in carrying out the development work defined in this Term Sheet Agreement and the Project(s).
4.5To use the Confidential Information solely in the development and implementation of the Project(s) and as it may be required to be disclosed by Evolution Energy LTD to authorities for the purposes of obtaining any Permit(s) and/or Approval(s).
4.6The obligations set forth in this Article 4 shall not apply to Confidential Information of Disclosing Party that: (a) is already known to Receiving Party at the time of its disclosure; (b) is or becomes publicly known through no wrongful act of Receiving Party; (c) is received from a third party that is free to disclose it to Receiving Party; (d) is independently developed by Receiving Party without reference to or use of Confidential Information; or (e) is lawfully required to be disclosed to any governmental agency or is otherwise required to be disclosed by law (“Required Disclosure”), provided, however, that before making such Required Disclosure, the Receiving Party shall, to the extent practicable, promptly notify Disclosing Party in writing of such Required Disclosure to permit the Disclosing Party to request confidential treatment or a protective order prior to such disclosure.
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