Common use of Tax-Exempt Status Clause in Contracts

Tax-Exempt Status. Company acknowledges that University, as a public institution of the Commonwealth of Massachusetts, is an exempt organization under the United States Internal Revenue Code of 1986, as amended. Company also acknowledges that certain facilities in which the licensed inventions were developed may have been financed through offerings of tax-exempt bonds. If the Internal Revenue Service determines, or if counsel to University reasonably determines, that any term of this Agreement jeopardizes the tax-exempt status of University or the bonds used to finance University facilities, the relevant term is invalid and shall be modified in accordance with Section 10.11.

Tax-Exempt Status. Company Licensee acknowledges that University, as a public institution of the Commonwealth of Massachusetts, is an exempt organization under the United States Internal Revenue Code of 1986, as amended. Company Licensee also acknowledges that certain facilities in which the licensed inventions were developed may have been financed through offerings offering of tax-exempt bonds. If the Internal Revenue Service determines, or if counsel to University reasonably determines, that any term of this Agreement jeopardizes the tax-exempt status of University or the bonds used to finance University facilities, the relevant term is invalid and shall be modified in accordance with Section 10.118.10.

Tax-Exempt Status. Company acknowledges that University, as a public institution of the Commonwealth of Massachusetts, is an exempt organization under the United States Internal Revenue Code of 1986, as amended. Company also acknowledges that certain facilities in which the licensed inventions were developed may have been financed through offerings of tax-exempt bonds. If the Internal Revenue Service determines, or if counsel to University reasonably determines, that any term of this Agreement jeopardizes the tax-exempt status of University or the bonds used to finance University facilities, the relevant term is invalid and shall be modified in accordance with Section 10.118.13.

Tax-Exempt Status. Company acknowledges that University, as a public institution of the Commonwealth of Massachusetts, is holds the status of an exempt organization under the United States Internal Revenue Code of 1986, as amendedCode. Company also acknowledges that certain facilities in which the licensed inventions were developed may have been financed through offerings of tax-exempt bonds. If the Internal Revenue Service determines, or if counsel to University reasonably determines, that any term of this Agreement jeopardizes the tax-exempt status of University or the bonds used to finance University facilities, the relevant term is invalid and shall be deemed an invalid provision and modified in accordance with Section 10.11.1O.1O.

Tax-Exempt Status. Company POLYMEDIX acknowledges that University, as a public institution University of the Commonwealth of Massachusetts, is holds the status of an exempt organization under the United States Internal Revenue Code of 1986, as amendedCode. Company POLYMEDIX also acknowledges that certain facilities in which the licensed inventions Research Project may be performed were developed may have been financed through offerings of tax-exempt bonds. If the Internal Revenue Service determines, or if counsel to University reasonably determines, that any term of this Agreement jeopardizes the tax-exempt status of University or the bonds used to finance University facilities, the relevant term is invalid and shall be deemed an invalid provision and modified in accordance with by the parties pursuant to Section 10.1115.10.

Tax-Exempt Status. Company acknowledges that ----------------- University, as a public institution of the Commonwealth of Massachusetts, is holds the status of an exempt organization under the United States Internal Revenue Code of 1986, as amendedCode. Company also acknowledges that certain facilities in which the licensed inventions were developed may have been financed through offerings of tax-tax exempt bonds. If the Internal Revenue Service determines, or if counsel to University reasonably determines, that any term of this Agreement jeopardizes the tax-exempt status of University or the bonds used to finance University facilities, the relevant term is invalid and shall be deemed an invalid provision and modified in accordance with Section 10.1110.10.

Tax-Exempt Status. Company acknowledges that University, as a public institution of the Commonwealth of Massachusetts, is holds the status of an exempt organization under the United States Internal Revenue Code of 1986, as amended. Company also acknowledges that certain facilities in which the licensed inventions Patent Rights were developed may have been financed through offerings of tax-exempt bonds. If the Internal Revenue Service determines, or if counsel to University reasonably determines, that any term of this Agreement jeopardizes the tax-exempt status of University or the bonds used to finance University facilities, the relevant term is invalid and the parties shall be modified modify the term in accordance with Section 10.118.8.

Tax-Exempt Status. Company acknowledges that University, as a public institution of the Commonwealth of Massachusetts, is an exempt organization under the United States Internal Revenue Code of 1986, as amended. Company also acknowledges that certain facilities in which the licensed inventions were developed may have been financed through offerings of tax-exempt bonds. If the Internal Revenue Service determines, or if counsel to University reasonably determines, that any term of this Agreement jeopardizes the tax-exempt status of University or the bonds used to finance University facilities, the relevant term is invalid and shall be modified in accordance with Section 10.11.9.11. Back to Contents