Examples of Termination Effective Date in a sentence
Xxxxxxx, on behalf of itself and its Affiliates, will and, effective as of the Termination Effective Date, hereby does assign to Licensor all of Xxxxxxx’x and its Affiliates’ right, title and interest in, to and under all inventory of the Reverted Products in the possession or control of Xxxxxxx or any of its Affiliates on the Termination Effective Date (or, if applicable, the date on which Xxxxxxx’x obligation to Manufacture and supply the Reverted Products to Licensor terminates under Section 10.5.2(k)).
If Licensor delivers a timely notice, the following provisions of this Section 10.5.2 will apply on and after the Termination Effective Date to each Reversion-Eligible Product indicated in such notice (each, a “Reverted Product”).
Licensor will reimburse Xxxxxxx for any costs incurred after the Termination Effective Date to complete or transfer any activity.
Licensor will indemnify, defend and hold harmless the Xxxxxxx Indemnitees from and against any and all Losses to the extent arising out of or relating to the Exploitation of the Reverted Products by or for Licensor or any of its Affiliates, (sub)licensees, agents or contractors on or after the Termination Effective Date.
If Licensor fails to make an election prior to the Termination Effective Date, then Licensor will be deemed to have elected to have Xxxxxxx wind down the applicable activity.