Examples of Licensed Technology in a sentence
As between LICENSOR, LICENSEE and any SUBLICENSEE, LICENSOR shall own all Licensed Technology, Licensed Patents, if any, and other Intellectual Property conceived or reduced to practice, in whole or in part by LICENSOR or by LICENSOR’s Representatives.
LICENSEE acknowledges and agrees that the Licensed Technology is provided “AS IS” and it has and shall continue to rely exclusively upon its own diligent inquiries and assessments of the patentability of the Licensed Invention, the freedom to operate analysis for the Licensed Technology and the Licensed Products, and to determine the commercial potential thereof.
Such insurance shall be consistent with industry practice and the stage of Development and Commercialization of Licensed Technology or Licensed Products provided, that at the First Commercial Sale in any jurisdiction, LICENSEE shall have insurance with limits of not less than $CAN5,000,000 (Five Million Dollars Canadian) per occurrence and $CAN10,000,000 (Ten Million Dollars Canadian) in the aggregate.
For avoidance of any doubt, with respect to all Affiliates of LICENSEE that LICENSEE wishes to involve in connection with Commercialization or use of Licensed Product or use of the Licensed Technology under the License, LICENSEE must first have those Affiliates appointed as SUBLICENSEEs and enter into a Sublicense in accordance with Sections 2.5 and 2.6.
University and CMU reserve the royalty-free, nonexclusive right to practice under the Patent Rights and to use the Licensed Technology for Non-Commercial Education and Research Purposes.