Common use of Practical application Clause in Contracts

Practical application. 5.1 LICENSEE shall achieve PRACTICAL APPLICATION of the LICENSED INVENTION within Twenty Four (24) months of the LICENSE COMMENCEMENT DATE and in accordance with the schedule set forth in the APPENDIX to this AGREEMENT and incorporated into this AGREEMENT. LICENSEE shall notify LICENSOR within thirty (30) calendar days of achieving PRACTICAL APPLICATION that PRACTICAL APPLICATION has been achieved. LICENSEE shall also provide evidence to verify the achievement. 5.2 LICENSEE, once PRACTICAL APPLICATION of the LICENSED INVENTION is achieved, shall thereafter maintain it throughout the LICENSE TERM. 5.3 LICENSEE shall promptly report to LICENSOR its discontinuance of making the benefits of the LICENSED INVENTION available to the public.

Appears in 1 contract

Sources: License Agreement (Vantage Health)

Practical application. 5.1 LICENSEE shall achieve PRACTICAL APPLICATION of the LICENSED INVENTION within Twenty Four (24) months of the LICENSE COMMENCEMENT DATE and in accordance with the schedule set forth in the APPENDIX to this AGREEMENT and incorporated into this AGREEMENT. LICENSEE shall notify LICENSOR within thirty (30) calendar 30 days of achieving PRACTICAL PRACTIAL APPLICATION that PRACTICAL APPLICATION has been achieved. LICENSEE shall also provide evidence to verify the achievement. 5.2 LICENSEE, once PRACTICAL APPLICATION of the LICENSED INVENTION is achieved, shall thereafter maintain it throughout the LICENSE TERM. 5.3 LICENSEE shall promptly report to LICENSOR its discontinuance of making the benefits of the LICENSED INVENTION available to the public.

Appears in 1 contract

Sources: Partially Exclusive License Agreement (Regenetech Inc)

Practical application. 5.1 LICENSEE shall achieve PRACTICAL APPLICATION of the LICENSED INVENTION INVENTION(S) within Twenty Four (24) [****] months of the LICENSE COMMENCEMENT DATE and in accordance with the schedule set forth in the APPENDIX to this AGREEMENT Agreement and incorporated into this AGREEMENTAgreement. LICENSEE shall notify LICENSOR within thirty (30) calendar days of achieving PRACTICAL APPLICATION that PRACTICAL APPLICATION has been achieved. LICENSEE shall also provide evidence to verify the achievement. 5.2 LICENSEE, once PRACTICAL APPLICATION of the LICENSED INVENTION INVENTION(S) is achieved, shall thereafter maintain it throughout the LICENSE TERM. 5.3 LICENSEE shall promptly report to LICENSOR its discontinuance of making the benefits of the LICENSED INVENTION available to the public.

Appears in 1 contract

Sources: License Agreement (Luna Innovations Inc)

Practical application. 5.1 LICENSEE shall achieve PRACTICAL APPLICATION of the LICENSED INVENTION within Twenty Four twelve (2412) months of the LICENSE COMMENCEMENT DATE and in accordance with the schedule set forth in the APPENDIX to this AGREEMENT and incorporated into this AGREEMENT. LICENSEE shall notify LICENSOR within thirty (30) calendar days of achieving PRACTICAL APPLICATION that PRACTICAL APPLICATION has been achieved. LICENSEE shall also provide evidence to verify the achievement. 5.2 LICENSEE, once PRACTICAL APPLICATION of the LICENSED INVENTION is achieved, shall thereafter maintain it throughout the LICENSE TERM. 5.3 LICENSEE shall promptly report to LICENSOR its discontinuance of making the benefits of the LICENSED INVENTION available to the public.

Appears in 1 contract

Sources: Nonexclusive License Agreement (Nanotailor, Inc.)

Practical application. 5.1 LICENSEE shall achieve PRACTICAL APPLICATION of the LICENSED INVENTION INVENTION(S) within Twenty Four (24) months [****] of the LICENSE COMMENCEMENT DATE and in accordance with the schedule set forth in the APPENDIX to this AGREEMENT Agreement and incorporated into this AGREEMENTAgreement. LICENSEE shall notify LICENSOR within thirty (30) calendar days of achieving PRACTICAL APPLICATION that PRACTICAL APPLICATION has been achieved. LICENSEE shall also provide evidence to verify the achievement. 5.2 LICENSEE, once PRACTICAL APPLICATION of the LICENSED INVENTION INVENTION(S) is achieved, shall thereafter maintain it throughout the LICENSE TERM. 5.3 LICENSEE shall promptly report to LICENSOR its discontinuance of making the benefits of the LICENSED INVENTION available to the public.

Appears in 1 contract

Sources: License Agreement (Luna Innovations Inc)