Common use of AVEO Rights Clause in Contracts

AVEO Rights. AVEO shall have the right to grant any licenses or sublicenses under AVEO Technology to Develop, have Developed, Manufacture or have Manufactured Licensed Products anywhere in the world under the terms of this Agreement or to Commercialize, have Commercialized, import and have imported Licensed Product in the AVEO Territory, provided that (i) during the Option Exercise Period, AVEO and its Affiliates shall not grant any license or sublicense to Develop Licensed Product, (ii) after the Option Exercise Period, AVEO and its Affiliates shall retain final decision-making authority under such license or sublicense for Development of Licensed Product, (iii) any license or sublicense granted to a Third Party with respect to Manufacture of Licensed Product shall be subject to the terms of Article VII, (iv) in no event shall AVEO grant any such license or sublicense to any Third Party that is Developing or Commercializing a Directly Competitive Product, (v) AVEO provides prior written notice to Biogen Idec of such licenses or sublicenses, (vi) AVEO shall have complied with the provisions of Section 3.7 hereof prior to granting such license or sublicense, and (vii) such license or sublicense complies with the provisions set forth in Sections 3.3(c), 3.3(d) and 3.3(e) below. AVEO may only sublicense the rights granted it by Biogen Idec under Section 3.2(a), in whole or in part, (x) to any of its Affiliates or (y) to a Third Party to whom AVEO has granted licenses or sublicenses under AVEO Technology pursuant to this Section 3.3(b), provided that AVEO provides prior written notice to Biogen Idec of any sublicense granted under clause (y).