Common use of Declaratory Actions Clause in Contracts

Declaratory Actions. In the event that a declaratory judgment action alleging invalidity or non-infringement of any of the Metasyn Patent Rights in the Territory shall be brought against either Party, the Party against which such action is brought shall notify the other Party in writing. The Party against which such action is brought will defend said action using counsel approved by the Joint Steering Committee, and no settlement, consent judgment or other voluntary final disposition of the action may be entered into by the Parties without the consent of the Joint Steering Committee. The costs of such defense will be considered Development Costs if incurred during the Development Phase of a Licensed Product and Costs of Goods Sold if incurred thereafter.

Declaratory Actions. In the event that a declaratory judgment action alleging invalidity or non-infringement of any of the Metasyn MKG Patent Rights in the Territory shall be brought against either Party, the Party against which such action is brought shall notify the other Party in writing. The Joint Steering Committee will determine which Party against which such action is brought will defend said action using counsel approved by the Joint Steering Committee, and no settlement, consent judgment or other voluntary final disposition of the action may be entered into by either of the Parties without the consent of the Joint Steering Committee. The costs of such defense will be considered Development Costs if incurred during the Development Phase of a Licensed Product and Costs of Goods Sold if incurred thereafter.