Backup Enforcement Rights Sample Clauses

Backup Enforcement Rights. In the event Novasys elects not to initiate an action to enforce the Curon Patents against a commercially significant infringement by a Third Party under the provisions of Section 4.2.1, Curon may initiate such action at its expense. Novasys shall have the right to participate in any such action with counsel of its own choice at its own expense. All recoveries received by Curon from an action initiated by Curon to enforce the Curon Patents in accordance with this Section 4.2.2 shall be first applied to reimburse Curon’s and then Novasys’ unreimbursed expenses, including reasonable attorneys’ fees and court costs, incurred by such Party in the course of such action. Any remainder shall, to the extent the same pertains to an infringement of the Curon Patents be divided seventy-five percent (75%) to Curon and twenty-five percent (25%) to Novasys. In the event Curon elects not to initiate an action to enforce the Curon Patents against a commercially significant infringement by a Third Party under the provisions of Section 4.2.1, Novasys may initiate such action at its expense. Curon shall have the right to participate in any such action with counsel of its own choice at its own expense. All recoveries received by Novasys from an action initiated by Novasys to enforce the Curon Patents in accordance with this Section 4.2.2 shall be first applied to reimburse Novasys’ and then Curon’s unreimbursed expenses, including reasonable attorneys’ fees and court costs, incurred by such Party in the course of such action. Any remainder shall, to the extent the same pertains to an infringement of the Curon Patents be divided seventy-five percent (75%) to Novasys and twenty-five percent (25%) to Curon.
Sample 1
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Backup Enforcement Rights. In the event Millimed elects not to initiate an action to enforce the Licensed Patents against a commercially significant infringement by a Third Party that adversely affects the Xtent Field of Use, Xtent may initiate such action at its sole expense. At the reasonable request of Xtent, Millimed shall join such action as a party plaintiff at Xtent's expense, represented by counsel chosen by Millimed. All recoveries received by Xtent from an action initiated by Xtent to enforce the Licensed Patents in the Xtent Field of Use in accordance with this Section 4.2.2 shall be retained by Xtent. Without limiting the foregoing, Xtent shall not enter into any settlement regarding any such action that by its terms limits the scope of the validity or enforceability of the Licensed Patents without Millimed's prior written consent.
Sample 1

Related to Backup Enforcement Rights

  • Enforcement Rights (a) At any time following the occurrence of a Termination Event:

  • Rights of Enforcement The Agent shall have all of the rights and remedies of a secured party upon default under the UCC, in addition to which the Agent shall have all and each of the following rights and remedies:

  • Patent Enforcement (a) If either Party learns of an infringement, unauthorized use, misappropriation or ownership claim or threatened infringement or other such claim (any of the foregoing, an “infringement”) by a Third Party with respect to any Licensed Technology within the Territory, such Party shall promptly notify the other Party and shall provide such other Party with available evidence of such infringement.

  • Exclusive Enforcement Until the First Priority Obligations Payment Date has occurred, whether or not an Insolvency Proceeding has been commenced by or against any Loan Party, the First Priority Secured Parties shall have the exclusive right to take and continue any Enforcement Action with respect to the Common Collateral, without any consultation with or consent of any Second Priority Secured Party, but subject to the provisos set forth in Sections 3.2 and 5.1. Upon the occurrence and during the continuance of a default or an event of default under the First Priority Documents, the First Priority Representative and the other First Priority Secured Parties may take and continue any Enforcement Action with respect to the First Priority Obligations and the Common Collateral in such order and manner as they may determine in their sole discretion.

  • No Enforcement Actions Notwithstanding Section D of Article V, the Custodian shall not be under any duty or obligation to take action, by legal means or otherwise, to effect collection of any amount, if the Securities upon which such amount is payable are in default, or if payment is refused after due demand or presentation, unless and until (i) it shall be directed to take such action by Written Instructions and (ii) it shall be assured to its satisfaction (including prepayment thereof) of reimbursement of its costs and expenses in connection with any such action.

  • Authorization; Enforcement The Company has the requisite corporate power and authority to enter into and to consummate the transactions contemplated by this Agreement and each of the other Transaction Documents and otherwise to carry out its obligations hereunder and thereunder. The execution and delivery of this Agreement and each of the other Transaction Documents by the Company and the consummation by it of the transactions contemplated hereby and thereby have been duly authorized by all necessary action on the part of the Company and no further action is required by the Company, the Board of Directors or the Company’s stockholders in connection herewith or therewith other than in connection with the Required Approvals. This Agreement and each other Transaction Document to which it is a party has been (or upon delivery will have been) duly executed by the Company and, when delivered in accordance with the terms hereof and thereof, will constitute the valid and binding obligation of the Company enforceable against the Company in accordance with its terms, except (i) as limited by general equitable principles and applicable bankruptcy, insolvency, reorganization, moratorium and other laws of general application affecting enforcement of creditors’ rights generally, (ii) as limited by laws relating to the availability of specific performance, injunctive relief or other equitable remedies and (iii) insofar as indemnification and contribution provisions may be limited by applicable law.

  • Specific Enforcement Each party hereto acknowledges that the remedies at law of the other parties for a breach or threatened breach of this Agreement would be inadequate and, in recognition of this fact, any party to this Agreement, without posting any bond, and in addition to all other remedies that may be available, shall be entitled to obtain equitable relief in the form of specific performance, a temporary restraining order, a temporary or permanent injunction or any other equitable remedy that may then be available.

  • Validity; Enforcement This Agreement has been duly and validly authorized, executed and delivered on behalf of the Investor and is a valid and binding agreement of the Investor enforceable against the Investor in accordance with its terms, subject as to enforceability to general principles of equity and to applicable bankruptcy, insolvency, reorganization, moratorium, liquidation and other similar laws relating to, or affecting generally, the enforcement of applicable creditors' rights and remedies.

  • Default and Enforcement If any Guarantor fails to pay in accordance with Section 11.07 hereof, the Trustee may proceed in its name as trustee hereunder in the enforcement of the Note Guarantee of any such Guarantor and such Guarantor’s obligations thereunder and hereunder by any remedy provided by law, whether by legal proceedings or otherwise, and to recover from such Guarantor the obligations.

  • Authorization and Enforcement The Company has the requisite corporate power and authority to enter into and to consummate the transactions contemplated by this Agreement and otherwise to carry out its obligations hereunder. The execution and delivery of this Agreement by the Company and the consummation by it of the transactions contemplated hereby have been duly authorized by all necessary action on the part of the Company and no further action is required by the Company, the Board or the Company’s stockholders in connection herewith other than in connection with the Required Approvals. This Agreement has been duly executed and delivered by the Company and, when delivered in accordance with the terms hereof, will constitute the valid and binding obligation of the Company enforceable against the Company in accordance with its terms, except (i) as limited by general equitable principles and applicable bankruptcy, insolvency, reorganization, moratorium and other laws of general application affecting enforcement of creditors’ rights generally, (ii) as limited by laws relating to the availability of specific performance, injunctive relief or other equitable remedies and (iii) insofar as indemnification and contribution provisions may be limited by applicable law.

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