Licensee definition
Examples of Licensee in a sentence
Licensee expressly acknowledges that its rights to access and use the Services are limited to the license rights set forth in Section 5.1 above (as supplemented by any applicable Order).
Any enhancements specific to Licensee and other non-standard upgrades, such as separate products, integration work, customization, and non-standard features, may be made available for an additional fee as set forth on the applicable Order.
The VWAP Algorithm is licensed to Licensee pursuant to Section 5.1(i) of the main body of the Agreement.
In addition to the Licensed Indexes licensed to Licensee pursuant to Section 5.1(ii) (and Section 5.1(iii), if applicable), Licensor has created a unique volume-weighted average price algorithm applied to the price and volume of all inputs for the immediately preceding 24-hour period at 4:00:00 PM on the trade date (the “VWAP Algorithm”).
Licensee shall pay to University One Million Dollars ($1,000,000) as follows: Eight Hundred Thousand Dollars ($800,000) upon execution of this Third Amendment; and the remaining Two Hundred Thousand ($200,000) upon Licensee’s use of a Licensed Product in a clinical trial or eighteen (18) months from the Third Amendment Effective Date., whichever occurs first.