Common use of Commercial Terms Clause in Contracts

Commercial Terms. Should CERES desire to use one of more of the MATERIALS or DERIVATIVES for commercial purposes, CERES will notify SYSTEM of its interests and the Parties will enter into diligent negotiations in good faith for a commercial license for the subject MATERIAL and/or DERIVATIVE of interest (“License Agreement”). Terms and conditions for a commercial license will be determined at the time of such negotiations. Notwithstanding the above, nothing in this Agreement should be construed to grant to CERES a commercial license or right from SYSTEM to use the MATERIAL, KNOW-HOW, or DERIVATIVES.

Commercial Terms. Should CERES desire to use one of more of the MATERIALS or DERIVATIVES for commercial purposes, CERES will notify SYSTEM of its interests and the Parties will enter into diligent negotiations in good faith for a commercial license for the subject MATERIAL and/or DERIVATIVE of interest (“License Agreement”). Terms and conditions for a commercial license will be determined at the time of such negotiations. Notwithstanding the above, nothing in this Agreement should be construed to grant to CERES a commercial license or right from SYSTEM to use the MATERIAL, MATERIAL or KNOW-HOW, or DERIVATIVES.