Licensee definition
Examples of Licensee in a sentence
Subject to the terms and conditions of this Agreement, University grants to Licensee an exclusive license to the Licensed Patents to make, have made, use, import, offer to sell and sell Licensed Products and otherwise practice the Licensed Patents, in each case, in the Field(s) of Use and the Territory.
If within [***] of such notice, Licensee does not notify University in writing that it will jointly prosecute the suit, Licensee shall assign and hereby does assign to University all rights, causes of action, and damages resulting from the alleged infringement, and University shall have the right to enforce the Licensed Patents in connection with such infringement in its own name.
Licensee shall pay University License Maintenance Fees in the amounts indicated in the following schedule to be paid no later than [***] from the date that is the stated anniversary of the Effective Date.
If University elects to resume these responsibilities, Licensee shall reasonably cooperate with University, its attorneys, and agents in the preparation, filing, prosecution, and maintenance of these patent applications or patents and shall provide University with complete copies of all documents or other materials necessary to undertake such responsibilities.
If in the professional opinion of University’s patent counsel, or in the event of negligence or misconduct by Licensee in prosecuting the Licensed Patents, Licensee is materially endangering University’s interest in the Licensed Patents, University may provide Licensee with written notice that University wishes to resume control of the preparation, filing, prosecution, and maintenance of any patent applications or patents included in the Licensed Patents.