Third Party Compounds Sample Clauses
The 'Third Party Compounds' clause defines the rights and obligations of the parties regarding chemical compounds or materials that are sourced from entities outside the agreement. Typically, this clause clarifies whether such third-party compounds can be used in the collaboration, under what conditions, and who is responsible for obtaining necessary licenses or permissions. Its core function is to prevent disputes and ensure compliance by clearly allocating responsibility for third-party intellectual property and usage rights.
Third Party Compounds. For purposes of this Agreement, Compounds and Additional Compounds shall not include any chemical compound as to which rights are or were acquired by Vertex or any of its Affiliates from bona fide Third Party entities after [***], whether by merger, acquisition of shares, asset acquisition, license or other means of conveyance whether or not Vertex or its Affiliates or any third party acting under Vertex’s or its Affiliate’s direction evaluated such compound prior to [***]. For example, [***].
Third Party Compounds. To the extent that any compounds owned by third parties are supplied by such party for activities contemplated by this Agreement, such party has full right and license to use such third party compounds for the contemplated activities. Such party represents and warrants, that to the best of its knowledge, the use of such third party compounds in accordance with the terms of this Agreement will not [ * ]. [ * ]= Certain confidential information contained in this document, marked by brackets, has been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended.
Third Party Compounds. The Joint Research Steering Committee may agree to obtain from Third Parties the right to screen in the Validated Assays compounds owned or controlled by such Third Parties; provided, however, that if any fees would be payable to such Third Party or any rights conferred upon such Third Party for screening such compounds or making, using or selling products containing such compounds, no such Third Party compounds will be screened without the written consent of both Parties.