Common use of EXCLUSIVE LICENSE AGREEMENT Clause in Contracts

EXCLUSIVE LICENSE AGREEMENT. Upon notice received by the Laboratory from the Cooperator that it wishes to exercise the option referred to in paragraph 5.10.1 above, the terms of the exclusive license will be negotiated promptly by the Laboratory and the Cooperator. Any exclusive license will be subject to the reservation by the Government of a non-exclusive, irrevocable, paid-up license to practice or have practiced on its behalf the Subject Invention throughout the world.