Common use of Most Favored Licensee Clause in Contracts

Most Favored Licensee. If Rockefeller grants a license under the Rockefeller Patent Rights and which will permit such licensee to manufacture or sell for any use within the scope of the license granted in this Agreement at a lower royalty rate than that provided in this Agreement, then Rockefeller will promptly notify Company of such license. The notice will include all material terms and conditions of such license, including degree of non-exclusivity, duration, field, territory, audit rights, all fees, and royalty rates, and extend to Company the lower royalty rates along with all of the material terms and conditions of such license. In the event that Company elects to take the royalty rates and the material terms and conditions of such noticed license, the royalty rate and all material terms and conditions of such noticed license shall apply to Company upon the date Company provides Rockefeller with its written notice of such election.

Most Favored Licensee. If Rockefeller grants a license under the Rockefeller Patent Rights and which will permit such licensee to manufacture or sell for any use within the scope of the license granted in this Agreement at a lower royalty rate than that provided in this Agreement, then Rockefeller will promptly notify Company of such license. The notice will include all material terms and conditions of such license, including degree of non-exclusivity, duration, field, territory, audit rights, all fees, and royalty rates, and extend to Company the lower royalty rates along with all of the material terms and conditions of such license. In the event that Company elects to take the royalty rates and the material terms and conditions of such noticed license, the royalty rate and all material terms and conditions of such noticed license shall apply to Company upon the date Company provides Rockefeller with its written notice of such election.

Most Favored Licensee. If Rockefeller grants a license under the Rockefeller Patent Rights and which will permit such licensee to manufacture or sell for any use within the scope of the license granted in this Agreement at a lower royalty rate than that provided in this Agreement, then Rockefeller will promptly notify Company of such license. The notice will include all material terms and conditions of such license, including degree of non-exclusivity, duration, field, territory, audit rights, all fees, and royalty rates, and extend to Company the lower royalty rates along with all of the material terms and conditions of such license. In the event that Company elects to take the royalty rates and the material terms and conditions of such noticed license, the royalty rate and all material terms and conditions of such noticed license shall apply to Company upon the date Company provides Rockefeller with its written notice of such election.