Common use of Compulsory Licensing Clause in Contracts

Compulsory Licensing. Licensee or its Permitted Sublicensee(s) (as applicable) will promptly notify University should a compulsory license be granted, or be the subject of a possible grant, by Licensee or a Permitted Sublicensee to a third party under the applicable laws, rules, regulations, guidelines, or other directives of any governmental or supranational agency in the Territory under the Patent Rights and/or Copyright [DELETE IF NO COPYRIGHT]. Said notice will include any material information concerning such compulsory license, and the running royalty rates payable. To the extent that any terms and/or conditions of said compulsory license are: 1) inconsistent with Licensee’s obligations under this Agreement; and