Common use of Right to Covert Clause in Contracts

Right to Covert. Three years after the Effective Date of this agreement NDD shall have the absolute right and option to convert said license granted in section 2.2 to a non-exclusive license. Written notice of NDD's intent to convert to non-exclusive shall be given to CMS not less than 6 months prior to the proposed effective date of conversion. The license granted in § 2.1 shall become non-exclusive effective as of the date specified in the written notice which shall be deemed to be an amendment of this Agreement (notwithstanding the absence of a signature or acceptance by CMS) from and after such date.