ISLT definition
Examples of ISLT in a sentence
Decisions shall be made by unanimous vote based on commercially reasonable judgment, with all the members representing BHV collectively having one vote and all the members representing ISLT collectively having one vote.
ISLT shall reimburse BHV for reasonable costs and shall not agree to any settlement of the suit without the prior written consent of BHV.
If Kissei approves such request, then ISLT, at its discretion, may assume control or defense of such claim.
In the event that neither Kissei nor BHV elects to assume control or defense of such a suit or claim with respect to the Kissei Patents in the Territory, BHV shall notify ISLT of that election within in a commercially reasonable time and, if ISLT so requests, contact Kissei and convey ISLT’s request to assume control or defense of such suit or claim with respect to the Kissei Patents.
In the event that BHV elects not to assume control or defense of such a suit or claim with respect to the Biphasic Patents in the Territory, then ISLT, at its discretion, may assume control or defense of such claim.
ISLT shall have the right to buy back Consultant's shares for the months remaining under this Agreement following termination under the schedule in Exhibit A.
BHV shall give all reasonable assistance (excluding financial assistance) to ISLT.
As security for the payment or performance, as the case may be, in full of ISLT’s obligations hereunder, ISLT hereby assigns and pledges to BHV, its successors and assigns, and hereby grants to BHV, its successors and assigns, a security interest in all right, title or interest of ISLT in, to or under this Agreement and all Proceeds thereof (collectively, the “Collateral”).
BHV shall have the right to control the suit and proceeding; provided, however, that BHV shall not agree to any settlement of the suit in the Territory without the prior written consent of ISLT.
Such ISLT rights shall be limited solely to the development, formulation, manufacture, use, sale, or import of the Compound, the Product or the Combination Product in the Field in the Territory.