Common use of Declaratory Judgment Clause in Contracts

Declaratory Judgment. If a declaratory judgment action is brought naming a Related Entity as a defendant and alleging invalidity or unenforceability of any claims within the Patent Rights, Licensee shall promptly notify Elkurt in writing and Elkurt may elect, upon written notice to Licensee within [####] after Elkurt receives notice of the commencement of such action, to take over the sole defense of the invalidity and/or unenforceability aspect of the action at its own expense.

Appears in 6 contracts

Samples: Exclusive License Agreement, Exclusive License Agreement (Ocean Biomedical, Inc.), Exclusive License Agreement (Ocean Biomedical, Inc.)

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