Declaratory Judgment Actions. In the event that a PATENT CHALLENGE is brought against M.I.T. or COMPANY by a third party, M.I.T., at its option, shall have the right within twenty (20) days after commencement of such action to take over the sole defense of the action at its own expense. If M.I.T. does not exercise this right, COMPANY may take over the sole defense of the action at COMPANY’s sole expense, subject to Sections 7.4 and 7.5.
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Samples: Exclusive Patent License Agreement (Synlogic, Inc.), Patent License Agreement (Mevion Medical Systems, Inc.), Patent License Agreement (ExOne Co)
Declaratory Judgment Actions. In the event that a PATENT CHALLENGE is brought against M.I.T. or COMPANY by a third party, M.I.T., at its option, shall have the right within twenty (20) days after commencement of such action to take over the sole defense of the action at its own expense. If M.I.T. does not exercise this right, COMPANY may take over the sole defense of the action at COMPANY’s 's sole expense, subject to Sections 7.4 and 7.5.
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Declaratory Judgment Actions. In the event that a PATENT CHALLENGE TO PATENT RIGHTS B is brought against M.I.T. or COMPANY by a third party, M.I.T.COMPANY, at its option, shall have the right within twenty (20) days after commencement of such action to take over the sole defense of the action at its own expense, subject to Sections 7.4 and 7.5. If M.I.T. COMPANY does not exercise this right, COMPANY M.I.T. may take over the sole defense of the action at COMPANY’s M.I.T.'s sole expense, subject to Sections 7.4 and 7.5.
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