Examples of New Patent Rights in a sentence
Thereafter, to the extent the New Patent Rights are then amended into the existing license subject to such exercise, such New Patent Rights and any additional diligence and development milestones agreed by the Parties shall be added to Appendix 1, Article III and Appendix 4, and shall be deemed Patent Rights under this Agreement and subject to applicable royalty and milestone obligations.
The Parties will negotiate fair market value of such New Patent Rights for [***]after Licensee exercises its option, in a range between [***], however in the event that such value is not fair market value at the time of the creation of such New Patent Rights, the Parties will negotiate for fair market CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY [***], HAS BEEN OMITTED BECAUSE IT IS NOT MATERIAL AND WOULD LIKELY CAUSE COMPETITIVE HARM TO THE COMPANY IF PUBLICLY DISCLOSED.
Upon disclosure of New Patent Rights by CMCC to Licensee, Licensee will have [***] to exercise its exclusive option for an exclusive commercial license to such New Patent Rights.
For purposes of valuing New Patent Rights, fair market value shall mean the price a reasonable independent third party (without access to the Patent Rights) would pay in consideration for such New Patent Rights in an arm’s length transaction.
Subject to the terms of this Agreement CMCC hereby grants to Licensee an exclusive first option for an exclusive commercial license to CMCC’s ownership interest in New Patent Rights for a period beginning on the Effective Date and expiring [***] months thereafter provided that Licensee pays the annual option fee of [***]at the beginning of the [***]year of the option term whether or not Licensee exercises its option described herein.
Notwithstanding the foregoing, in the event that a Company Licensee would like to file new applications for the New Patent Rights that a Pfizer Licensor owns in accordance with Section 12.1.2(b), such Company Licensee shall notify such Pfizer Licensor in writing and such Company Licensee and such Pfizer Licensor shall discuss an appropriate mechanism for filing and prosecuting such Patent Rights (subject to such Pfizer Licensor’s consent with respect thereto, not to be unreasonably withheld or delayed).
The contractor shall indemnify HDC in the event of HDC being held liable to pay compensation for injury to any contractor's servants or workmen under the Indian Workmen's Compensation Act, 1923, as amended from time to time, and shall take out an insurance policy covering all risks under the Act.
Subject to the terms and conditions of this Agreement, Inverness hereby grants to OraSure and its Affiliates a nonexclusive, worldwide, royalty-bearing, non-transferable (except as expressly set forth in Section 8.4) and non-sublicensable (sub)license under the ‘982 Patent Rights and the Lateral Flow New Patent Rights, to develop, make, have made on its own behalf, use, offer for sale, sell and import the OraQuick® HIV Products only in the Lateral Flow Field in the Professional Market.
The Parties shall share equally the costs and fees associated with the prosecution and maintenance of the patent applications and patents contained in the New Patent Rights for the Sopharma Territory.
Extab shall, at its own cost, have full control over the prosecution and maintenance of the patent applications and patents contained in the New Patent Rights for the Extab Territory.