Common use of OHSU Clause in Contracts

OHSU. shall specifically have the right to terminate or modify, at its option, this Agreement, if OHSU determines that the Licensee: 1) is not reasonably proceeding with the development and practical application of Licensed Products or Licensed Processes and the Licensee cannot otherwise demonstrate to OHSU’s satisfaction that the Licensee has taken, or can be expected to take within a reasonable time, effective steps to achieve practical application of the Licensed Products or Licensed Processes; or 2) is not keeping Licensed Products or Licensed Processes reasonably available to the public after commercial use commences. In making this determination, OHSU will take into account the normal course of such commercial development programs conducted with sound and reasonable business practices and judgment. Prior to invoking this right, OHSU shall give written notice to Licensee providing Licensee specific notice of, and a sixty (60) day opportunity to respond to, OHSU’s concerns as to the previous items 1) to 3). If Licensee fails to alleviate OHSU’s concerns as to the previous items 1) to 3) or fails to initiate corrective action to OHSU’s satisfaction, OHSU may terminate or modify this Agreement.