Common use of Independent Action Clause in Contracts

Independent Action. In the event that the Corporation declines to take a Prosecution Action, as requested by the Acquiror: (a) the Corporation shall notify the Acquiror in writing, to the extent possible, at least 30 days in advance of the due date of the declined Prosecution Action; and (b) the Acquiror has the right to require the Corporation to take the declined Prosecution Action provided that the Acquiror agree to bears all costs for the Prosecution Action (the Independent Action). The Corporation shall take the Independent Action at the Acquiror’s request, to the extent reasonable and to the extent the Independent Action does not prejudice the rights of the Corporation.

Independent Action. In the event that the Corporation Acquiror declines to take a Prosecution Action, as requested by the AcquirorCorporation: (a) the Corporation Acquiror shall notify the Acquiror Corporation in writing, to the extent possible, at least 30 days in advance of the due date of the declined Prosecution Action; and (b) the Acquiror Corporation has the right to require the Corporation Acquiror to take the declined Prosecution Action provided that the Acquiror Corporation agree to bears all costs for the Prosecution Action (the Independent Action). The Corporation Acquiror shall take the Independent Action at the AcquirorCorporation’s request, to the extent reasonable and to the extent the Independent Action does not prejudice the rights of the CorporationAcquiror.