Common use of Eidos Suit Clause in Contracts

Eidos Suit. Eidos shall have the first right to institute and prosecute a suit or defend any declaratory judgment action so long as it conforms with the requirements of this Section and Eidos is diligently using commercially reasonable efforts in developing or selling Licensed Product. Eidos will diligently pursue the suit and Eidos will bear the entire cost of the litigation, including expenses and counsel fees incurred by Stanford. Eidos will keep Stanford reasonably apprised of all developments in the suit, and will seek Stanford’s input and approval on any substantive submissions or positions taken in the litigation regarding the scope, validity and enforceability of the Licensed Patent. Eidos will not prosecute, settle or otherwise compromise any such suit in a manner that adversely affects Stanford’s interests without Stanford’s prior written consent. Stanford may be named as a party only if (A) Eidos’s and Stanford’s respective counsel recommend that such action is necessary in their reasonable opinion to achieve standing; (B) Stanford is not the first named party in the action; and (C) the pleadings and any public statements about the action state that Eidos is pursuing the action and that Eidos has the right to join Stanford as a party.