Formulation Intellectual Property definition
Examples of Formulation Intellectual Property in a sentence
For the avoidance of doubt, if a royalty is being paid under this Section and a patent claim in the Licensed Patents, Formulation Intellectual Property, or Option Agreement Formulation Intellectual Property subsequently becomes an Issued Patent Claim, then the royalty from the date of issuance of such Issued Patent Claim shall be paid under Section 3.5(a) above.
The term of this Agreement shall commence on the Effective Date and shall expire on a Licensed Product-by-Licensed Product, country-by-country basis after expiration of the last to expire Licensed Patent, Formulation Intellectual Property Patent Right and Option Agreement Formulation Intellectual Property Patent Right or 10 years following the First Commercial Sale of a Licensed Product(s), whichever is later, and Novo Nordisk shall then have a fully paid-up exclusive license for that Licensed Product(s).
If Pacira elects to file or continue prosecution or maintenance of any Formulation Intellectual Property or Joint Technology, then Pacira shall advise Novo Nordisk in writing of its intention to do so promptly (i.e., within [**] calendar days of receipt of Novo Nordisk notice under Section 9.4(a), if applicable) and Pacira shall assume, at Pacira’s costs, prosecution of such Formulation Intellectual Property or Joint Technology.
Novo Nordisk shall provide Pacira with all assistance reasonably necessary to facilitate filing, prosecution, or maintenance of such Formulation Intellectual Property or Joint Technology.
Novo Nordisk shall provide Pacira with all assistance reasonably necessary to facilitate prosecution of such Formulation Intellectual Property or Joint Technology.
Novo Nordisk shall not however pay royalties for Net Sales of Licensed Product(s) in such country for the period by which the extended term of any patent Controlled by Novo Nordisk other than a patent within Formulation Intellectual Property or Option Agreement Formulation Intellectual Property (a “Novo Nordisk Patent”) extends beyond the term of the Section 3.5(a) Patent.
If Novo Nordisk elects to not file a patent application or to discontinue prosecution of an already filed patent application, or to discontinue payment of maintenance fees for any patents, under any Formulation Intellectual Property or Joint Technology, Novo Nordisk shall so advise Pacira promptly in writing.
If requested by Pacira, Novo Nordisk shall provide Pacira with a copy of any proposed filing with any Patent Authority in connection with proceedings before any Patent Authority in the Formulation Intellectual Property or Joint Technology, as applicable, and shall provide to Pacira a reasonable opportunity (at least [**] calendar days) to comment on any such proposed filing with respect to such Formulation Intellectual Property and Joint Technology, which comments Novo Nordisk shall consider in good faith.
If Pacira elects to continue prosecution of any Formulation Intellectual Property or Joint Technology, then Pacira shall advise Novo Nordisk of its intention to do so and Pacira shall assume, at Pacira’s costs, prosecution of such Formulation Intellectual Property or Joint Technology.
Subject to the terms and conditions of this Agreement, [*] hereby grants to [*] a transferable, sub-licensable, worldwide, exclusive license, under the Novel Formulation Intellectual Property for purposes outside the Field which do not compete, directly or indirectly, with [*] worldwide commercialization of any drug in the Field which includes an anesthetic within the same pharmacological family or category as lidocaine.