Outside Technology definition
Examples of Outside Technology in a sentence
Company will be deemed to not be pursuing the New Outside Technology unless the Company acting in good faith notifies Executive in writing within 120 days of Executive’s notice that it is pursuing, planning to pursue or evaluating in good faith whether to pursue commercialization of the New Outside Technology.
Executive will retain Ownership of any Post Transition Period New Outside Technology of which Executive is the sole or joint inventor, author or other creator.
In order to obtain the foregoing rights with respect to New Outside Technology of which Executive obtains knowledge during the Transition Period, Executive shall be required to provide Company notice in advance of Executive’s commercializing such technology.
If, solely as a result of the incorporation of any Outside Technology in the R & D Program as envisioned in Section 4.1, after application of the credits and reductions set forth in 8.4.2 and 8.4.3 above, the commercialization of any Antibacterial Product hereunder becomes infeasible because of the overall level of royalties payable thereon, the parties will in good faith discuss the modification of the economic terms hereof in order to attempt to mitigate such circumstances.
Prior to Executive pursuing commercialization of the New Outside Technology, Executive shall notify the Chief Executive Officer in writing of the New Outside Technology and Executive’s interest in pursuing commercialization of such New Outside Technology.
If, during the Transition Period, Executive in the course of his employment for the Company obtains knowledge of a New Outside Technology and wishes to use the New Outside Technology, Executive may do so in accordance with this Section 7 provided that Company is not pursuing, planning to pursue, or evaluating in good faith whether to pursue commercialization of the New Outside Technology.
The Buyer is a corporation duly incorporated, validly existing and in good standing under the laws of the State of Delaware and has all requisite corporate power and authority to own, lease and operate its properties and to carry on its business as is now being conducted.
Executive shall have no obligation to provide Company notice regarding Executive’s pursuing New Outside Technology of which Executive obtains knowledge after the Transition Period (“Post Transition Period New Outside Technology”).
To the extent the use of any Outside Technology requires Customer to possess API keys, tokens, or other access credentials, Customer is solely responsible for obtaining all such keys, tokens, credentials, or rights, including the right to use such Outside Technology.