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.

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.

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 Institute 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 Institute 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 Institute Designated Third Party”); provided, however, that a different period from the Implementation Target Period may be agreed to in the exclusive license agreement.