Permitted License definition
Permitted License means: any non-exclusive license or sublicense of patent rights of Credit Parties or their Subsidiaries so long as all such licenses or sublicenses (i) are granted to third parties in the Ordinary Course of Business, (ii) do not result in a legal transfer of title to the licensed property, (iii) have been granted in exchange for fair consideration on commercially reasonable terms, and (iv) no Event of Default has occurred and is continuing or would result from the granting of such license or sublicense.
Permitted License means any non-exclusive license of patent rights of Borrower or its Subsidiaries so long as all such Permitted Licenses are granted to third parties in the Ordinary Course of Business, do not result in a legal transfer of title to the licensed property, and have been granted in exchange for fair consideration.
Permitted License is defined in Section 5.10(a).
Examples of Permitted License in a sentence
All Reports, Medtronic Agreement Correspondence, Terumo Agreement Correspondence, Permitted License Correspondence and the Confidential Information contained therein, shall be the Confidential Information of Seller and subject to the obligations of confidentiality set forth in Article 8.
The Seller shall cure any material breach by it under the Medtronic Agreement, Terumo Agreement or a Permitted License, and shall give written notice to the Buyer upon curing any material breach.
The Seller shall keep the Buyer reasonably informed of, and consult with the Buyer regarding, any alleged breach under the Medtronic Agreement, Terumo Agreement or any Permitted License and shall consider in good faith any comments of the Buyer with respect to curing any such breach.
The Seller shall consult with the Buyer regarding the timing, manner and conduct of any enforcement of Licensee’s material obligations under the Medtronic Agreement, Terumo Agreement or any Permitted License, or regarding any material breach, material default or other material dispute under the Medtronic Agreement, Terumo Agreement or any Permitted License.
The proceeds resulting from any enforcement of Licensee’s obligations under the Medtronic Agreement, Terumo Agreement or any Permitted License shall be applied first to reimburse the Seller and the Buyer for any reasonable and documented expenses incurred by them in connection with such enforcement, with the remainder of the proceeds being treated as Other Product Revenue for purposes of calculating Revenue Payments under this Agreement.
More Definitions of Permitted License
Permitted License means (a) any non-exclusive license of patent rights of a Loan Party or its Subsidiaries so long as all such Permitted Licenses are granted to third parties in the Ordinary Course of Business, do not result in a legal transfer of title to the licensed property, and have been granted in exchange for fair consideration, and (b) any exclusive license of patent rights of a Loan Party or its Subsidiaries so long as such Permitted Licenses do not result in a legal transfer of title to the licensed property, are exclusive solely as to discrete geographical areas outside of the United States, and have been granted in exchange for fair consideration.
Permitted License means a license granted by a Licensor to a Third Party to enable such Third Party to broadly manufacture or formulate oligonucleotides, where such Third Party is primarily engaged in [***]; provided, however, that any such license will not grant rights to research, manufacture or formulate ▇▇▇▇▇ Compounds or ▇▇▇▇▇ Therapeutics for which the other Licensor has obtained or later obtains a license pursuant to Section 5 or pursuant to the Buy-Out process in the Investor Rights Agreement.
Permitted License means any license of rights of Borrower or its Subsidiaries in Intellectual Property, Products or rights related to Product sales, marketing, manufacture or distribution, so long as all such Permitted Licenses are granted to third parties in the Ordinary Course of Business, do not result in a legal transfer of title to the licensed property, have been granted in exchange for fair consideration and with respect to any exclusive license, are exclusive with respect to geography only in discrete territories or countries outside of the United States.
Permitted License means a license granted by Regulus to a Third Party (i) under the Regulus Core Technology Patents (but not under the Product Specific Patents) to […***…] (or […***…] to […***…]) solely to conduct Research, or (ii) under the Regulus Core Technology Patents (but not under the Product Specific Patents) to enable such Third Party to […***…] or […***…] microRNA Compounds, where such Third Party is […***…] and is not […***…] or […***…].
Permitted License means (a) any non-exclusive license or other grant of non-exclusive rights with respect to Intellectual Property of Borrower or its Subsidiaries so long as all such Permitted Licenses are granted to third parties or in connection with joint ventures or strategic alliances in the Ordinary Course of Business, do not result in a legal transfer of title to the licensed property, and have been granted in exchange for fair consideration, (b) any exclusive license of Intellectual Property rights of Borrower or its Subsidiaries so long as such Permitted Licenses (i) are granted to third parties or in connection with joint ventures or strategic alliances in the Ordinary Course of Business, (ii) do not result in a legal transfer of title to the licensed property, (iii) are exclusive solely as to discrete geographical areas outside of North America and Europe and are not exclusive in any other respect, (iv) have been granted in exchange for fair consideration, and (c) licenses agreements and other agreements with respect to the granting of rights to Intellectual Property as set forth on Schedule 3.19 to the Disclosure Letter on the Closing Date as the same may be modified following the Closing Date to the extent such licenses and agreement would still continue to be Permitted Licenses pursuant to the other clauses of this definition of Permitted License and such amendment would not otherwise be prohibited pursuant to the terms of this Agreement provided that, in each case of clauses (a)-(c), no Event of Default exists at the time such Permitted License is granted or would result from the granting of such Permitted License.
Permitted License means (i) any license of the Tussionex patent in connection with the Tussionex Disposition so long as, at the time of consummation thereof, no Default or Event of Default has occurred and is continuing, (ii) licenses and sublicenses as reflected in the Paragraph IV Settlements (Actavis & Teva) as in effect on the Amendment No. 2 Effective Date, (iii) [reserved], (iv) license agreement in respect of Natesto pursuant to that Termination and Transition Agreement by and among Acerus Pharmaceuticals Corporation and Holdings dated March 31, 2021 and (v) any non-exclusive license or non-exclusive sublicense of rights to discrete Intellectual Property of any Loan Party so long as all such licenses or sublicenses (a) are granted in the Ordinary Course of Business, (b) do not result in a legal transfer of title to the licensed property, and (c) have been granted in exchange for fair consideration and on commercially reasonable terms; provided that no such licenses may be granted if an Event of Default has occurred and is continuing or could result from the granting thereof.
Permitted License means a license under the Isis Core Technology Patents or the Isis Manufacturing Patents (but not under the Product-Specific Technology Patents) (i) granted by Isis to a Third Party to use ASOs solely to conduct such Third Party’s own internal Research, or (ii) granted by Isis to a Third Party (provided that such Third Party is [***] and neither such Third Party nor any of its Affiliates is [***] to manufacture ASOs solely for unaffiliated third parties; provided, however, in each case, any such ASOs are not specified in such license or a related document to be ASOs (a) that act predominantly by [***] Clusterin [***] or (b) that are [***] Clusterin [***] or products containing such ASOs. For purposes of clarification, a Permitted License shall not permit Isis or its Affiliates to supply to a Third Party ASOs that act predominantly by [***] Clusterin [***] or that are [***] Clusterin [***] or products containing such ASOs.