Common use of AFTER TERMINATION OR EXPIRATION Clause in Contracts

AFTER TERMINATION OR EXPIRATION. The Parties agree that, once this Agreement is terminated or expires, NK shall immediately cease: (a) any use or practice of the Licensed Technology; and (b) any development, manufacture, use or sale of the Product; PROVIDED, HOWEVER, that: (i) NK shall have the right to manufacture Products using the Kits which are in NK's possession at the time of such termination or expiration; (ii) NK shall have the right to sell Products which are in NK's possession at the time of such termination or expiration, and manufactured by NK under 6.3(a) above, for a period of three (3) months after such termination or expiration; PROVIDED, HOWEVER, that NK may, at its option, within ten (10) days after the end of such three (3) month period, notify Aspect that it has elected to extend this period for nine (9) additional months, in which case NK shall pay Aspect US [**] for each module sold during such nine (9) month period; (iii) Aspect or any third party designated by Aspect shall sell to NK the parts necessary to repair the Products and shall grant to NK the right to repair Products, for a period reasonably deemed that Products are used by the customers; and (iv) Aspect or any third party designated by Aspect shall continue to supply NK with BIS sensors to use with Products, for a period reasonably deemed that Products are used by the customers.

Appears in 5 contracts

Samples: International License Agreement (Aspect Medical Systems Inc), International License Agreement (Aspect Medical Systems Inc), International License Agreement (Aspect Medical Systems Inc)

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