Common use of Rights Licensed from Third Parties Clause in Contracts

Rights Licensed from Third Parties. In the event that the license to MetaMorphix or GI under Sections 2.1 or 2.2 includes rights acquired by the licensor Party from a Third Party (other than from JHU pursuant to the 1999 Agreement) which involve the payment of royalties, fees or other payments to such Third Party, the licensor Party shall notify the licensee Party of the obligation to make such payment(s). The licensee Party promptly shall elect in writing whether to exclude such Third Party rights from the licenses granted to it under this Agreement, and if the licensee Party fails to exclude such rights, it shall be fully responsible for the payment of any such royalties, fees and other payments to such Third Party as a result of its practice of the licenses granted to it hereunder.