MNGA best part..MAGNEGAS hereby grants to NewCo exclusive distribution rights for the coal and/or coal by-products, co-combustion power generation industry for United States and Canada where MAGNEGAS is the holder of such rights. On or before 9 months from the signature of this MOU, NewCo will purchase and pay in full a first 300kw recycler unit at a price of $2.7 million, MAGNEGAS will return $600,000 to NewCo to cover NewCo operating expenses, including funding beyond initial testing period described in Paragraph 8. Should said Recycler not be purchased and paid in full within 9 months of the signature of this MOU, all rights granted to NewCo under this MOU revert back to MAGNEGAS and all rights granted will terminate automatically.
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