Common use of Licensing Terms Clause in Contracts

Licensing Terms. Notwithstanding any provision to the contrary, in the event the parties do not enter into a license agreement for any particular Other Invention, then for a period of two (2) years from the date receives written notice of such Other Invention, Institution and Principal Investigator nevertheless agree that neither shall offer a license for such Other Invention to any third party on terms more favorable to such third party than were first offered to Sponsor without first making such an offer to Sponsor.

Licensing Terms. Notwithstanding any provision to the contrary, in the event the parties do not enter into a license agreement for any particular Other Invention, then for a period of two (2) years from the date Sponsor receives written notice of such Other Invention, Institution and Principal Investigator nevertheless agree that neither shall offer a license for such Other Invention to any third party on terms more favorable to such third party than were first offered to Sponsor without first making such an offer to Sponsor.