Extension of Licensed Patents. COMPANY, at its expense, may request that LICENSOR have the normal term of any Licensed Patents extended or restored under any country’s procedure for extending patent term and LICENSOR shall use all reasonable efforts to do so. Royalties shall be payable until the end of the extended term of the patent. LICENSOR acknowledges that there are limits on the number of patents that may be extended with respect to any product and that COMPANY shall have the right in its sole discretion to determine which patent, if any, shall be extended with respect to any Licensed Product.
Appears in 3 contracts
Samples: License Agreement (Clearside Biomedical, Inc.), License Agreement (Clearside Biomedical, Inc.), License Agreement (Clearside Biomedical, Inc.)
Extension of Licensed Patents. COMPANY, at its expense, COMPANY may request that LICENSOR have the normal term of any Licensed Patents extended or restored under any a country’s procedure for of extending patent term for time lost in government regulatory approval processes, and the expense of the same shall be borne in accordance with the terms of Article 3.5. COMPANY shall reasonably assist LICENSOR shall use all reasonable efforts to do sotake whatever action is necessary to obtain such extension. Royalties In the case of such extension, royalties pursuant to Article 3 hereof shall be payable until the end of the extended term of the patent. LICENSOR acknowledges that there are limits on the number of patents that may be extended with respect to any product and that COMPANY shall have the right in its sole discretion to determine which patent, if any, shall be extended with respect to any Licensed Product.
Appears in 1 contract
