Examples of Product Sublicense in a sentence
Oragenics will pay Intrexon any amount due under this Section 5.2(c) within the later of (i) thirty (30) days from underlying Commercialization Milestone Event, or (ii) ten (10) days following the date stipulated in the underlying Product Sublicense for Oragenics to receive the milestone payment.
Following Selection of a CGI Antigen, or exercise of a Buy-In Right for a CGI Antigen, (i) ABX shall (subject to Section 4.1.2 below) exercise its rights under the MRLOA and obtain a Product License for such CGI Antigen from XT, (ii) CGI shall be responsible for payment of any amounts due to XT pursuant to the terms of the MRLOA by reason of such exercise, and (iii) ABX and CGI shall enter into a CGI Product Sublicense pursuant to the terms of Section 2.6 of this Agreement with respect to such CGI Antigen.
In the event that ABX enters into a Product Sublicense with respect to a CGI Antigen and CGI has not within six (6) months thereafter entered into a CGI Product Sublicense with respect to such CGI Antigen, the sublicense granted under this Section 2.5 with respect to such CGI Antigen shall terminate.
For purposes of clarification, it is understood that the license granted to CGI under a CGI Product Sublicense shall be for Covered Products in the Gene Therapy field, and that ABX shall retain all rights under the corresponding Product Licenses outside of the Gene Therapy field, subject to Section 5.2 below.
The Territory and exclusivity provided in a given CGI Product Sublicense shall be the same as the Territory and exclusivity granted to ABX under the Product License from XT to ABX related to the same Antigen.
At such time as ABX enters into a Product License with XT with respect to a CGI Antigen pursuant to Section 2.4.1, CGI and ABX shall promptly execute a CGI Product Sublicense granting CGI rights corresponding to such CGI Antigen in the Gene Therapy field, all as set forth in the form of CGI Product Sublicense attached as Exhibit B hereto.
ABX shall not be obligated to give notice or exercise its right to obtain additional rights as provided in this Section 4.2, unless a CGI Product Sublicense related to such CGI Antigen is then in effect.
To the extent that a portion of Net Sales for any calendar quarter is derived from the sale of Soligenix Products by a Product Sublicensee, the royalty payment due to Intrexon for that portion of Net Sales derived from the Product Sublicensee shall in no event be greater than fifty percent (50%) of the royalty payment due to Soligenix from the Product Sublicensee under the relevant Product Sublicense.
Subject to the terms of any CGI Product Sublicense entered into between CGI and ABX, nothing in this Agreement shall prevent CGI from commercializing products similar to or competitive with Covered Products, in addition to or in lieu of such Covered Products.
In addition, except as may be expressly provided under a CGI Product Sublicense actually entered into between the parties, this Agreement shall not be deemed to grant to either CGI or ABX any right to prosecute, enforce or defend any patent or other intellectual property right owned or controlled by the other party.