IP Status definition
Examples of IP Status in a sentence
SANQUIN shall remain responsible for preparing, filing, prosecuting, handling, and maintaining the Sanquin Patent Rights during the Term, at its expense and its reasonable discretion and will within 15 Business Days after Sanquin becomes aware of a change of the IP Status inform IMMATICS in writing of such change.
Condition precedent for [***] shall be that the IP Status is as set forth in Schedule 1.
In the event that the IP Status changes by any of the below factors, IMMATICS shall have the right to request the adjustment of [***] in an amount/ percentage taking account of the decrease of the value of the Sanquin Patent Rights as reasonably determined in good faith by the Parties jointly, taking into account the relevance of the respective Sanquin Patent Rights and the relevance of the respective affected territory for the business of IMMATICS.