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

Effect of Agreement Termination on Patent Rights. The Parties hereby agree that after effective termination of the Agreement and subject to any previously signed License Agreement, each Party may separately license its interest in the Patent Rights on a worldwide basis. There are no ongoing obligations to share Patent Expenses or share or account for revenues under such licenses, except to the extent mandated by the laws of foreign jurisdictions.

Effect of Agreement Termination on Patent Rights. The Parties hereby agree that after effective After termination of the this Agreement and subject to any previously signed License AgreementAgreement and applicable law, each Party may separately license its interest in the Patent Rights on a worldwide basis. There are basis and no Party will have any ongoing obligations to share Patent Expenses or share or account for revenues under such licenses, except to the extent mandated by the laws of foreign jurisdictions.