Common use of LICENSING OPTION Clause in Contracts

LICENSING OPTION. In the event that the Application for the Invention is filed in any jurisdiction, the Partner has the exclusive option to elect from the following licenses by notifying in writing to the University within a certain period after the filing date for such Application as set forth in Article 15 (the “Option Period”). The University and the Partner shall enter into the license agreement after the discussion of the commercially reasonable terms and conditions within three (3) months after exercise of the option.

LICENSING OPTION. In the event that the Application for the Joint Invention is filed in any jurisdiction, the Partner has the exclusive option to elect from the following licenses by notifying in writing to the University within a certain period after the filing date for such Application as set forth in Article 15 16 (the “Option Period”). The University and the Partner shall enter into the license agreement after the discussion of the commercially reasonable terms and conditions within three (3) months after exercise of the option.

LICENSING OPTION. In the event that the Application for the University Invention is filed in any jurisdiction, the Partner has the exclusive option to elect from the following licenses by notifying in writing to the University within a certain period after the filing date for such Application as set forth in Article 15 (the “Option Period”). The University and the Partner shall enter into the license agreement after the discussion of the commercially reasonable terms and conditions within three (3) months after exercise of the option.