Common use of Client Event Defined Clause in Contracts

Client Event Defined. The term “Client Event” refers to any one of the following: (i) the Client has raised $250,000 in any combination of grants, debt or equity in one or more arms-length transactions (a “Qualified Financing”); (ii) the Client’s cumulative revenues exceeds $250,000; (iii) the Client has been merged into or acquired by a third party or substantially all of Client’s assets have been sold (a “Change of Control”); or (iv) the patent applications prepared with the assistance of the Firm, any patent applications derived from such applications, or any patents issuing from either of the foregoing have been assigned to a third party.

Client Event Defined. The term “Client Event” refers to any one of the following: (i) the Client has raised $250,000 in any combination of grants, debt or equity in one or more arms-length transactions (a “Qualified Financing”); (ii) the Client’s cumulative revenues exceeds $250,000; (iii) the Client has been merged into or acquired by a third party or substantially all of Client’s assets have been sold (a “Change of Control”); or (iv) the patent applications prepared with the assistance of the Firm, any patent applications derived from such applications, or any patents issuing from either of the foregoing have been assigned or licensed to a third party.