Disposition of Licensed Products on Hand. Upon termination of this Agreement by either party: (a) Mayo shall return to Licensor any tangible examples and prototypes of the Patent Rights, including any schematics, diagrams, designs and molds delivered to Mayo by Licensor pursuant to Section 2.2; and (b) Mayo and any Mayo Affiliates may dispose of all previously made or partially made Licensed Product within a period of one hundred and twenty (120) days of the effective date of such termination provided that the sale of such Licensed Product by Mayo and any Mayo Affiliates shall be subject to the terms of this Agreement, including but not limited to the rendering of reports and payment of royalties required under this Agreement.
Appears in 4 contracts
Samples: Nonexclusive Patent License Agreement (AutoGenomics, Inc.), Nonexclusive Patent License Agreement (AutoGenomics, Inc.), Nonexclusive Patent License Agreement (AutoGenomics, Inc.)
