Common use of Prosecution Obligation Clause in Contracts

Prosecution Obligation. The Company shall, at its sole cost and expense, maintain during the term of this Agreement any and all Assigned PNU Patent Rights and Company Patent Rights; it being understood and agreed that until such time as PNU elects the option provided in clause (ii) of Section 3.3, PNU shall have the option, in its sole discretion, to assume the maintenance of any and all such Assigned PNU Patent Rights and Company Patent Rights during the term of this Agreement at its sole cost and expense in any country where such election has not been made. PNU shall, at its sole cost and expense, apply for, and use its reasonable good faith efforts to seek issuance of, and maintain during the term of this Agreement any and all Licensed PNU Patent Rights, in a timely and reasonably prudent business manner until such time as PNU elects the option provided in clause (i) of Section 3.3."