Common use of Effect of Agreement Termination on Patent Rights Clause in Contracts

Effect of Agreement Termination on Patent Rights. After termination of this Agreement and subject to any previously signed License Agreement and applicable law, each Party may separately license its interest in the Patent Rights on a worldwide basis and no Party will have any ongoing obligations to share Patent Expenses or share or account for revenues under such licenses; provided, however, if this Agreement is terminated in circumstances that do not require the Withdrawing Party to repay Covered Expenses in accordance with Section 9.2 and a Withdrawing Party thereafter licenses any Patent Rights, it will be obligated to repay to the other Party(ies) out of the first proceeds of any such license all Covered Expenses to the extent that the other Party(ies) have not already recovered such amounts from a Licensee, such obligation to survive termination of this Agreement.

Effect of Agreement Termination on Patent Rights. After 33After termination of this Agreement and subject to any previously signed License Agreement and applicable lawlaw34, each Party may separately license its interest in the Patent Rights on a worldwide basis and no Party will have any ongoing obligations to share Patent Expenses or share or account for revenues under such licenses; provided, however, if this Agreement is terminated in circumstances that do not require the Withdrawing Party to repay Covered Expenses in accordance with Section 9.2 and a Withdrawing Party thereafter licenses any Patent Rights, it will be obligated to repay to the other Party(ies) out of the first proceeds of any such license all Covered Expenses to the extent that the other Party(ies) have not already recovered such amounts from a Licensee, such obligation to survive termination of this Agreement.