License to Trademarks. AVEO shall grant to Biogen Idec and its Affiliates and Sublicensees an exclusive license to use AVEO’s Product Trademarks to Commercialize the Licensed Product in the Field in the Licensed Territory, and Biogen Idec shall grant to AVEO and its Affiliates and Sublicensees an exclusive license to use Biogen Idec’s Product Trademarks to Commercialize the Licensed Product in the Field in the AVEO Territory. If a Party uses the Product Trademark of the other Party with respect to Licensed Product, as permitted under this Agreement, such Party agrees that the quality of the Licensed Product and the Commercialization thereof shall be consistent with the quality standards applied by the owner of the Product Trademark thereto. In addition, the Party using the Product Trademark of the other Party under this Section 9.9 shall comply strictly with the trademark style and usage standards of the Party that owns the Product Trademark as communicated to such Party from time to time with respect to the Product Trademarks. The Party using the Product Trademark of the other Party, shall, at the request and expense of the Party that owns the Product Trademark, from time to time, submit to the Party that owns the Product Trademark for approval a reasonable number of production samples of the Licensed Product and related packaging materials. If the Party that owns the Product Trademark reasonably objects to the quality of the Licensed Product or the usage of the Product Trademarks in connection with any sample, it shall give written notice of such objection to the other Party within sixty (60) days after receipt of the relevant sample, specifying the way in which such usage of the Product Trademarks fails to meet the style, usage or quality standards for the Licensed Product set forth in the second and third sentences of this Section 9.9(c), and such Party shall immediately cease sale and distribution of the Licensed Product using such Product Trademark. If the Party using such Product Trademark wishes to continue to distribute and sell the Licensed Product, it must remedy the failure and submit further samples to the Party that owns the Product Trademark for approval.
Appears in 4 contracts
Samples: Option and License Agreement (Aveo Pharmaceuticals, Inc.), Option and License Agreement, Option and License Agreement (Aveo Pharmaceuticals Inc)
