Common use of Alternative Remedy Clause in Contracts

Alternative Remedy. If a claim described in Paragraph 7(a) may or has been asserted, Customer will permit Idera, at Idera's option and expense, to (i) procure the right to continue using the Licensed Material, (ii) replace or modify the Licensed Material to eliminate the infringement while providing functionally equivalent performance or (iii) accept the return of the Licensed Material and refund to Customer the amount actually paid to Idera or its authorized representative for such Licensed Material, less depreciation based on a 3-year straight-line depreciation schedule.

Alternative Remedy. If a claim described in Paragraph 7(a) may or has been asserted, Customer will permit Idera, at Idera's option and expense, to (i) procure the right to continue using the Licensed Material, (ii) replace or modify the Licensed Material to eliminate the infringement while providing functionally equivalent performance or (iii) accept the return of the Licensed Material and refund to Customer the pro rata pre-paid amount actually paid to Idera for the remaining portion of the Initial Term or its authorized representative for such Licensed MaterialRenewal Term, less depreciation based on a 3-year straight-line depreciation scheduleas applicable.

Alternative Remedy. If a claim described in Paragraph 7(a) may or has been asserted, Customer will permit Idera, at Idera's option and expense, to (i) procure the right to continue using the Licensed Material, (ii) replace or modify the Licensed Material to eliminate the infringement while providing functionally equivalent performance or (iii) accept the return of the Licensed Material and refund to Customer the amount actually paid to Idera or its authorized representative for such Licensed Material, Material less depreciation based on a 3-year straight-line depreciation schedule.