Backup Enforcement by Luitpold. If BMPI or its Licensors are unable or elect not to bring an action for infringement of a Licensed Patent within the Field of Use or the Field of Extended Use, Luitpold may bring such action at its own expense and under its own direction and control; provided, BMPI shall have reasonable opportunities to advise Luitpold. In such event, Luitpold shall be entitled to recover its expenses from all recoveries in any such action, and the remaining balance of any such recoveries shall be treated as Net Sales for which Luitpold shall pay royalties to BMPI. BMPI shall reasonably assist Luitpold at Luitpold's expense in such actions if so requested or required by law. BMPI shall also lend its name to such actions if requested by Luitpold or required by law, at Luitpold's expense. BMPI shall have the right to participate and be represented in any such suit by its own counsel at its own expense.
Appears in 3 contracts
Samples: Exclusive Sublicense Agreement (Biomimetic Therapeutics, Inc.), Exclusive Sublicense Agreement (Biomimetic Therapeutics, Inc.), Exclusive Sublicense Agreement (Biomimetic Therapeutics, Inc.)
Backup Enforcement by Luitpold. If BMPI BMTI or its Licensors are unable or elect not to bring an action for infringement of a Licensed Patent within the Field of Use or the Field of Extended Use, Luitpold may bring such action at its own expense and under its own direction and control; provided, BMPI BMTI shall have reasonable opportunities to advise Luitpold. In such event, Luitpold shall be entitled to recover its expenses from all recoveries in any such action, and the remaining balance of any such recoveries shall be treated as Net Sales for which Luitpold shall pay royalties to BMPIBMTI. BMPI BMTI shall reasonably assist Luitpold at Luitpold's ’s expense in such actions if so requested or required by law. BMPI BMTI shall also lend its name to such actions if requested by Luitpold or required by law, at Luitpold's ’s expense. BMPI BMTI shall have the right to participate and be represented in any such suit by its own counsel at its own expense.
Appears in 1 contract
Samples: Amended and Restated Exclusive Sublicense Agreement (Biomimetic Therapeutics, Inc.)