Common use of Obligation to Exploit Clause in Contracts

Obligation to Exploit. If after January 1, 1994, AVI and AVI Affiliates together effectively cease development of Products based on the Technology, as evidenced by AVI, AVI Affiliates, and/or their successors and assigns in the aggregate having for a period of more than 180 consecutive days less than the equivalent of ten (10) full time employees devoted to development, testing, commercialization, production and/or sales of one or more products based on the Technology, then, upon request by AGD, AVI will grant to AGD an exclusive royalty-free license, with right to sublicense, to make, have made, use, sell, or otherwise distribute the Products, to practice the Technology, and to use the Trademarks.

Appears in 2 contracts

Sources: Technology Transfer Agreement (Antivirals Inc), License and Option Agreement (Antivirals Inc)