Common use of Allocation of Costs and Damages Award Clause in Contracts

Allocation of Costs and Damages Award. Each Party shall have the right, at its sole expense, to be represented by counsel of its own selection in any suit, action or proceeding instituted in accordance with this Section 4.5 by the other Party for Infringement. The Party initiating a suit, action or proceeding pursuant to this Section 4.5 shall bear all other costs incurred by the Parties in connection therewith, and all damages, costs or other monetary awards shall first be used to reimburse such initiating Party, then to reimburse the other Party for all reasonable attorneys’ fees incurred in connection with such Party’s separate representation, and the remainder, if any, shall be shared [***] to the Party initiating the suit and [***] to the other Party.

Appears in 2 contracts

Samples: License Agreement (Pain Therapeutics Inc), License Agreement (Pain Therapeutics Inc)

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Allocation of Costs and Damages Award. Each Party shall have the right, at its sole expense, to be represented by counsel of its own selection in any suit, action or proceeding instituted in accordance with this Section 4.5 by the other Party for Infringement. The Party initiating a suit, action or proceeding pursuant to this Section 4.5 shall bear all other costs incurred by the Parties in connection therewith, and all damages, costs or other monetary awards shall first be used to reimburse such initiating Party, then to reimburse the other Party for all reasonable attorneys' fees incurred in connection with such Party’s 's separate representation, and the remainder, if any, shall be shared [***] to the Party initiating the suit and [***] to the other Party.

Appears in 1 contract

Samples: License Agreement (King Pharmaceuticals Inc)

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Allocation of Costs and Damages Award. Each Party shall have the right, at its sole expense, to be represented by counsel of its own selection in any suit, action or proceeding instituted in accordance with this Section 4.5 by the other Party for Infringement. The Party initiating a suit, action or proceeding pursuant to this Section 4.5 shall bear all other costs incurred by the Parties in connection therewith, and all damages, costs or other monetary awards shall first be used to reimburse such initiating Party, then to reimburse the other Party for all reasonable attorneys’ fees incurred in connection with such Party’s separate representation, and the remainder, if any, shall be shared [***] 75% to the Party initiating the suit and [***] 25% to the other Party.

Appears in 1 contract

Samples: License Agreement (Pain Therapeutics Inc)

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