Memorialization Agreement Sample Clauses
A Memorialization Agreement is a clause that formalizes and records the terms and conditions agreed upon by the parties, typically after an initial informal or oral understanding. This clause ensures that all key points, obligations, and expectations are documented in writing, providing a clear reference for both parties. Its core practical function is to prevent misunderstandings or disputes by creating an official, written record of the agreement, thereby ensuring clarity and enforceability.
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Memorialization Agreement. Promptly following the signing of this Agreement, Merck shall send to Merial for its review, agreement and countersignature the formalization in a written agreement (the “Sublicense Agreement”) of the existing and longstanding sublicense to Merial of Merck's rights under the Memorialization Agreements. Such Sublicense Agreement will contain terms and conditions which are substantially identical to the existing sublicense between Merck and Merial and shall be coterminous with each of the Memorialization Agreements, respectively.