Ongoing Patent Costs. Licensee will bear all Patent Costs incurred during the term of this Agreement (“
Ongoing Patent Costs. Licensee shall reimburse Caltech for [***] percent ([***]%) of all fees and costs relating to ongoing filing, prosecution and maintenance, interference or reexamination proceedings of the Exclusively Licensed Patent Rights that are not included in Section 4.3 above. Such reimbursement shall be made within [***] of receipt of Caltech’s invoice. Should Licensee wish to terminate its license to any particular patent application or patent, Licensee may elect to do so by providing written notice to Caltech at least [***] in advance. Licensee is responsible for all patent costs incurred up until the date of its election and Licensee’s subsequent reimbursement obligations of the ongoing patent costs with respect to the said patent application or patent will be terminated. Upon such election, Caltech may, at its option, continue such prosecution or maintenance, although any patent or patent application resulting from such prosecution or maintenance will thereafter no longer be subject to the licenses granted in Section 2.1
Ongoing Patent Costs. During the Term of this Agreement, Licensee will bear all Patent Costs incurred by either Penn or Licensee in connection with the preparation, filing, maintenance or prosecution of any Patent Rights under Section 6.2 and the Option Patents except for the Patent Costs incurred by Penn after Licensee has notified Penn of its abandonment or forfeiture of such Penn Foreground Patent or Joint Foreground Patent and the [***] day notice period has expired pursuant to Section 6.2.2(b)(vi) or Patent Costs incurred by Penn after expiration of the term of an unexercised Option for the Option Patents (“Ongoing Patent Costs”). Licensee will reimburse Penn for all Ongoing Patent Costs incurred by Penn in relation to Penn Background Patents and Penn Foreground Patents pursuant to Section 6.2.1 within [***] days of receipt of an invoice for such costs. In the event that Penn licenses any Penn Patent Right in a field separate from the Field to a Third Party, then, upon execution of such Third Party license agreement, Licensee’s Ongoing Patent Costs obligation will be a pro-rata portion of such Ongoing Patent Costs.
Ongoing Patent Costs. Licensee will reimburse ULRF for all Patent Costs incurred on or after the Effective Date within thirty (30) days of receipt by Licensee of invoice from ULRF for the same.
Ongoing Patent Costs. 7.3a Licensee will bear all costs incurred during the term of this Agreement in the preparation, filing, prosecution and maintenance of patent applications and patents in Regents’ Patent Rights (“Ongoing Patent Costs”). Prosecution includes, but is not limited to, interferences, oppositions and any inter partes matters originating in a patent office. Licensee’s obligation to underwrite and to pay all United States and foreign patent costs will continue for as long as this Agreement remains in effect. Licensee may request a cost estimate for patent filings, chapter two demands and office actions (“Cost Estimate”). Fees and expenses that are due to incidentals (for example photocopy charges or long distance phone charges) are not included within such Cost Estimate unless expressly so stated, nor is Licensee’s direct interaction with Regents’ counsel such as by phone calls, e-mails, in person meetings and the like.
Ongoing Patent Costs. Licensee agrees to become the client of record and pay directly to the counsel prosecuting the Exclusively Licensed Patent Rights one hundred percent (100%) of patent costs incurred after the Effective Date. Licensee may elect not to pay the ongoing patent costs with respect to a particular patent application or patent. Upon such election, Licensee shall reasonably notify Caltech, and Caltech may, at its option, continue such prosecution or maintenance, although any patent or patent application resulting from such prosecution or maintenance will thereafter no longer be deemed Exclusively Licensed Patents hereunder. Licensee is responsible for all patent costs incurred up until the date of its election.
Ongoing Patent Costs. Licensee will bear all Patent Costs incurred during the term of this Agreement (“Ongoing Patent Costs”) and shall pay in advance. The Regents’ patent counsel’s estimated costs for undertaking a Patent Action before The Regents authorizes its patent counsel to proceed (“Advanced Payment”) Fees and expenses that are due to incidentals (for example photocopy charges or long distance phone charges) are not included within such estimate unless expressly so stated, nor is Licensee’s interaction with The Regents’ counsel such as by phone calls, e-mails, and in person meetings. The absence of this Advanced Payment will be considered an election not to secure the patent rights associated with the specific phase of patent prosecution in such territory, and such patent application(s) and patent(s) will not be part of Regents’ Patent Rights and therefore not subject to this Agreement, and Licensee will have no further rights or license to them.
Ongoing Patent Costs. Licensee agrees to pay directly to the law firm prosecuting the Exclusively Licensed Patent Rights and Improvement Patent Rights any reasonable expenses (including attorneys’ fees) incurred by Caltech after the Effective Date for the preparation, filing, prosecution and maintenance of the Exclusively Licensed Patent Rights and Improvement Patent Rights. Caltech will instruct the law firm to invoice Licensee directly for such patent costs. Licensee may offset up to fifty percent (50%) of the Annual Maintenance Fee due Caltech under Section 5.1 for patent costs expended by Licensee relating to foreign patent rights. It is understood that all patent applications and patents in which Licensee has paid the foregoing patent costs will be a part of the Exclusively Licensed Patent Rights or Alchemy Enterprises, LTD. -6- _________________ Improvement Patent Rights, as applicable. Licensee may elect not to pay the patent costs with respect to a particular patent application or patent. Upon such election, Caltech may, at its option, prepare, file, prosecute and maintain such patent application or patent; provided, however, that any patent or patent application resulting therefrom will thereafter no longer be subject to the licenses granted in Section 2.1 hereunder. Licensee is responsible for all patent costs incurred up until the date of its election. At the sole discretion of Caltech, Licensee and Caltech may enter into negotiations for a separate agreement under which Licensee would have a nonexclusive license under any patent or patent application in which the patent costs have been paid by Caltech.
Ongoing Patent Costs. Licensee agrees to pay directly to the law firm prosecuting the Exclusively Licensed Patent Rights and Improvement Patent Rights any reasonable expenses (including attorneys' fees) incurred by Caltech after the Effective Date for the preparation, filing, prosecution and maintenance of the Exclusively Licensed Patent Rights and Improvement Patent Rights. Caltech will instruct the law firm to invoice Licensee directly for such patent costs. Licensee may offset up to fifty percent (50%) of the Annual Maintenance Fee due Caltech under Section 5.1 for patent costs expended by Licensee relating to foreign patent rights. It is understood that all patent applications and patents in which Licensee has paid the foregoing patent costs will be a part of the Exclusively Licensed Patent Rights or Improvement Patent Rights, as applicable. Licensee may elect not to pay the patent costs with respect to a particular patent application or patent. Upon such election, Caltech may, at its option, prepare, file, prosecute and maintain such patent application or patent; provided, however, that any patent or patent application resulting therefrom will thereafter no longer be subject to the licenses granted in Section 2.1 hereunder. Licensee is responsible for all patent costs incurred up until the date of its election. At the sole discretion of Caltech, Licensee and Caltech may enter into negotiations for a separate agreement under which Licensee would have a nonexclusive license under any patent or patent application in which the patent costs have been paid by Caltech.
Ongoing Patent Costs. [***] will [***] for Patent Costs incurred during the term of this Agreement (“Ongoing Patent Costs”) based on written invoice and all verifiable amounts on such invoices will be paid within [***] days following receipt of the invoice.
