Common use of Grant of License to Third Parties Clause in Contracts

Grant of License to Third Parties. 18.1 If, notwithstanding the fact that the Partner or the Partner Designated Third Party entered into an exclusive license agreement with the University relating to the Intellectual Property Rights as a result of the exercise of the option by the Partner pursuant to Article 14.3(B), such party fails to implement such Intellectual Property Rights without a legitimate reason after the expiration of the period commencing from and including the day immediately following the day when the Application is filed in any jurisdiction of the relevant Intellectual Property Rights set forth in Paragraph 14 of the Agreement Particulars (the “Implementation Target Period”), the University may, after hearing the request of the Partner or any Partner Designated Third Party, terminate the exclusive license agreement entered into with the Partner or any Partner Designated Third Party, and grant a license of such Intellectual Property Rights to any third party (other than the Partner or any Partner Designated Third Party) (the “University Designated Third Party”); provided, however, that a different period from the Implementation Target Period may be agreed to in the exclusive license agreement. 18.2 Even where the University has granted a license to the Partner or any Partner Designated Third Party as a result of the exercise of the option by the Partner pursuant to Article 14.3, if it is found that the grant of such license significantly damages the public interest, the University may discuss such situation with the Partner after giving written notice to the Partner. If the relevant situation does not change regardless of such discussion, the University may, terminate the license to the Partner or any Partner Designated Third Party, and grant a license of such Intellectual Property Rights to any University Designated Third Party.

Grant of License to Third Parties. 18.1 19.1 If, notwithstanding the fact that the Partner or the Partner Designated Third Party entered into an exclusive license agreement with the University relating to the Intellectual Property Rights as a result of the exercise of the option by the Partner pursuant to Article 14.3(B) or 15.3(B), such party fails to implement such Intellectual Property Rights without a legitimate reason after the expiration of the period commencing from and including the day immediately following the day when the Application is filed in any jurisdiction of the relevant Intellectual Property Rights set forth in Paragraph 14 of the Agreement Particulars (the “Implementation Target Period”), the University may, after hearing the request of the Partner or any Partner Designated Third Party, terminate the exclusive license agreement entered into with the Partner or any Partner Designated Third Party, and grant a license of such Intellectual Property Rights to any third party (other than the Partner or any Partner Designated Third Party) (the “University Designated Third Party”); provided, however, that a different period from the Implementation Target Period may be agreed to in the exclusive license agreement. 18.2 19.2 Even where the University has granted a license to the Partner or any Partner Designated Third Party as a result of the exercise of the option by the Partner pursuant to Article 14.314.3 or 15.3, if it is found that the grant of such license significantly damages the public interest, the University may discuss such situation with the Partner after giving written notice to the Partner. If the relevant situation does not change regardless of such discussion, the University may, terminate the license to the Partner or any Partner Designated Third Party, and grant a license of such Intellectual Property Rights to any University Designated Third Party. 19.3 If the Partner exercised the option to implement the Intellectual Property Rights on a non-exclusive basis, the University may grant a license to any third party at its sole discretion; however, with respect to Joint Intellectual Property Rights, the University may grant a license to the Joint Intellectual Property Rights, upon or after the Application in any jurisdiction in respect of such Joint Intellectual Property Rights, to any third party, with the prior written consent of the Partner, which shall not be withheld without due cause.

Grant of License to Third Parties. 18.1 19.1 If, notwithstanding the fact that the Partner or the Partner Designated Third Party entered into an exclusive license agreement with the University relating to the Intellectual Property Rights as a result of the exercise of the option by the Partner pursuant to Article 14.3(B) or 15.3(B), such party fails to implement such Intellectual Property Rights without a legitimate reason after the expiration of the period commencing from and including the day immediately following the day when the Application is filed in any jurisdiction of the relevant Intellectual Property Rights set forth in Paragraph 14 of the Agreement Particulars (the “Implementation Target Period”), the University may, after hearing the request of the Partner or any Partner Designated Third Party, terminate the exclusive license agreement entered into with the Partner or any Partner Designated Third Party, and grant a license of such Intellectual Property Rights to any third party (other than the Partner or any Partner Designated Third Party) (the “University Designated Third Party”); provided, however, that a different period from the Implementation Target Period may be agreed to in the exclusive license agreement. 18.2 19.2 Even where the University has granted a license to the Partner or any Partner Designated Third Party as a result of the exercise of the option by the Partner pursuant to Article 14.314.3 or 15.3, if it is found that the grant of such license significantly damages the public interest, the University may discuss such situation with the Partner after giving written notice to the Partner. If the relevant situation does not change regardless of such discussion, the University may, terminate the license to the Partner or any Partner Designated Third Party, and grant a license of such Intellectual Property Rights to any University Designated Third Party. 19.3 If the Partner exercised the option to implement the Intellectual Property Rights on a non- exclusive basis, the University may grant a license to any third party at its sole discretion; however, with respect to Joint Intellectual Property Rights, the University may grant a license to the Joint Intellectual Property Rights, upon or after the Application in any jurisdiction in respect of such Joint Intellectual Property Rights, to any third party, with the prior written consent of the Partner, which shall not be withheld without due cause.