Re: No discussion of the 890?..Opty...Questio... SGE..
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Message: Re: No discussion of the 890?..Opty...Questio... SGE..
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"Also, I believe that per the Master Agreement, TPL/Alliacense must notify PTSC within days (if not hours) of a new licensing event."
Rick, I read and reread the Master and Commericialization Agreements and can't find anything that staes this? This doesn't mean that it isn't there...as I have to admit....I start to nod off when reading this crap, but the only thing I can find taht talks about notification is for things that may result in a "Material Adverse Effect" (See Below).
"7.5 Notification. Patriot, TPL and Moore will promptly:
(a) notify the other parties in writing if it or he becomes aware of any action, event, condition or circumstance, or group of actions, events, conditions or circumstances, that results in, or could reasonably be expected to result in, a Material Adverse Effect;"
The section I was referring too in my previous post comes from the following:
"Within sixty (60) days after the close of each calendar quarter TPL shall deliver to P-Newco: (i) an operating statement reflecting the Project's financial activity over the past quarter; (ii) a calculation of the Gross Cash Proceeds (as defined in the Operating Agreement) resulting from the Project; and (iii) an itemization of all TPL Direct Reimbursable Expenses (as defined below)."
"Within thirty (30) days after P-Newco's receipt thereof, Patriot shall deliver to TPL written notice detailing all objections to such materials and calculations on an individual item-by-item basis. Any objection not so noticed shall be deemed to be waived."
"Within thirty (30) days after P-Newco's receipt thereof, Patriot shall deliver to TPL written notice detailing all objections to such materials and calculations on an individual item-by-item basis. Any objection not so noticed shall be deemed to be waived."
So, if you can point me to where the Master Agreement says that TPL must immediately notify PDS of a new license...it would be much appreciated. Thanks in advance. Hope all is well.
Good luck to you, me, us, and all longs.
Lakers in 9...maybe...
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