Most Favored Licensee. If Licensor licenses the Patent Rights to any third party on, royalty terms based on cash payments that are more favorable to such third party than the royalty set forth in Section 3. l(a), Licensor shall immediately notify Mayo of such more favorable royalty terms and Mayo shall be entitled to reduce the royalty amount due under Section 3.1(a) to be the same as the more favorable royalty terms granted by Licensor to such third party. Notwithstanding the other provisions of this Section 3.4(d), Licensor shall be permitted to (i) enter into licenses for the Patent Rights with a third party for non-cash consideration, (ii) enter into licenses for the Patent Rights with a third party fee volumes of diagnostic products or services covered by the Patent Rights and which exceed such volumes performed by Mayo and Mayo Affiliates on an annual basis, (iii) enter into licenses for the Patent Rights with a government agency, or (iv) sell diagnostic kits to end users, each without triggering the most favored license” provisions herein.
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Samples: Nonexclusive Patent License Agreement (AutoGenomics, Inc.), Nonexclusive Patent License Agreement (AutoGenomics, Inc.), Nonexclusive Patent License Agreement (AutoGenomics, Inc.)
