Common use of Notice to Licensee Clause in Contracts

Notice to Licensee. Before payment of any IP Cost, Owner shall notify Licensee for a time period being the lesser of (i) at least sixty (60) days before the IP Cost is due or (ii) as soon as is practicable after receiving knowledge of the IP Cost. The notice will identify (i) the Application, Patent, or Trademark, (ii) the country, (iii) the reason for the IP Cost, and (iv) the Due Date for payment. Licensee shall then affirm or deny payment. Affirmation of payment must be received by Owner within fourteen (14) days of the mailing date of the notice or the Licensee shall be deemed to have denied payment.

Notice to Licensee. Before payment of any IP Cost, Owner shall notify Licensee for a time period being the lesser of (i) at least sixty (60) days before the IP Cost is due or (ii) as soon as is practicable after receiving knowledge of the IP Cost. The notice will identify (i) the Application, Application or Patent, or Trademark, (ii) the country, (iii) the reason for the IP Cost, and (iv) the Due Date for payment. Licensee shall then affirm or deny payment. Affirmation of payment must be received by Owner within fourteen (14) days of the mailing date of the notice or the Licensee shall be deemed to have denied payment.