Proponent Party definition
Examples of Proponent Party in a sentence
In such event, the patent shall be treated as an Improvement made by the Patent Proponent Party and shall be subject to the license provisions of Section 7.4(d).
If Martek is such Proponent Party, resultant reductions in DSM Costs per Unit shall, from the date such savings are achieved, reduce the then applicable DSM Costs per Unit of ARA by one hundred percent (100%) of such reduction in DSM Costs per Unit of ARA but shall not increase the DSM M▇▇▇ Up per Unit of ARA.
In the event that certain R&D Committee members request that certain changes or amendments be made to the ARA Research Project as proposed by the Proponent Party, the Proponent Party shall in good faith consider and attempt to incorporate or address such requests.
If DSM is such Proponent Party, resultant reductions in DSM Costs per Unit shall, from the date such savings are achieved, reduce the then applicable DSM Costs per Unit of ARA by one hundred percent (100%) of such reduction in DSM Costs per Unit of ARA and increase the DSM M▇▇▇ Up per Unit of ARA by one hundred percent (100%) of such reduction in DSM Costs per Unit of ARA.
Notwithstanding the foregoing, any decisions by the Patent Proponent Party regarding whether to pursue patent protection or the scope of the applicable patent claims being sought shall take into consideration the legal and commercial interests of the other party, including without limitation the other party’s interest in avoiding disclosure of confidential information or technology in connection with its activities in their respective A▇▇ ▇▇▇▇▇▇ of Use.
The Committee shall promptly (taking into account, if appropriate, the time sensitive nature of the proposed project) review each Project Plan submitted by the Proponent Party and shall determine unanimously whether to proceed with the proposed ARA Research Project, either as proposed or in a modified format, in view of both parties’ commercial interests and the R&D Collaboration Goals.
If it is resolved that the Company will not pursue the new business opportunity, or in the event there is no unequivocal resolution for the Company to pursue said opportunity, the Proponent Party shall feel free to pursue the new business opportunity, provided that the terms are not more favorable than those informed to the Company, pursuant to the provisions of this Section.
The Proponent Party, as the case may be, may require the execution of a confidentiality agreement with the Company and the other Parties.
Notwithstanding the foregoing, any decisions by the Patent Proponent Party regarding whether to pursue patent protection or the scope of the applicable patent claims being sought shall take into consideration the legal and commercial interests of the other party, including without limitation the other party’s interest in avoiding disclosure of confidential information or technology in connection with its activities in their respective ▇▇▇ ▇▇▇▇▇▇ of Use.
If a proposed ARA Research Project is not approved unanimously by the Committee, the Proponent Party shall have the option of resubmitting a Project Plan for such ARA Research Project to the Committee, with an indication that the Committee previously had rejected the project.