Exclusive Negotiation of Subsequent System License. Within five days after the final System Milestone is achieved, the Parties will enter into exclusive negotiations for a license agreement for all or part of the System (the “Subsequent System License”) for a period not to exceed 90 days from the date the Parties enter into negotiations (the “Exclusivity Period”). This right of first negotiation will not obligate either Party to enter into any future agreement or agree upon any particular terms.
Appears in 5 contracts
Samples: System and Lead Development and Transfer Agreement (Mri Interventions, Inc.), System and Lead Development and Transfer Agreement (Mri Interventions, Inc.), System and Lead Development and Transfer Agreement (Surgivision Inc)
