Common use of Joint Suit Clause in Contracts

Joint Suit. If University and Licensee agree to institute suit jointly, the parties to this Agreement shall bring the suit in both parties’ names, the out-of-pocket costs thereof will be borne equally, and any damages or other monetary awards of such suit shall first be applied to reimburse each party’s out-of-pocket costs and expenses attributed to such suit. Thereafter, any recovery or settlement will be shared equally. University and Licensee will agree to the manner in which they will exercise control over such suit. Each party, at its option, may be represented by separate counsel of its own selection, the fees for which shall be paid by the party electing to retain its own counsel.

Joint Suit. If the University and the Licensee agree to institute suit jointly, the parties to this Agreement shall bring the suit in both parties’ names, the out-of-pocket costs thereof will be shall he borne equally, and any damages or other monetary awards of such suit shall first be applied to reimburse each party’s out-of-pocket costs and expenses attributed to such suit. Thereafter, any recovery or settlement will shall be shared equally. The University and the Licensee will shall agree to the manner in which they will shall exercise control over such suit. The parties may agree to retain counsel which will represent the University and the Licensee jointly, and in such case the parties shall bear the costs of counsel equally. Each party, at its option, may be represented by separate counsel of its own selection, the fees for which shall will be paid by the party electing to retain its own counsel.