Common use of LIFE OF THE AGREEMENT Clause in Contracts

LIFE OF THE AGREEMENT. 8.1. Unless otherwise terminated by operation of law or by acts of the parties in accordance with the terms of this Agreement, this Agreement will be in force from the Effective Date and will remain in effect for the life of the last-to-expire patent licensed under this Agreement, or until the last patent application licensed under this Agreement is abandoned, or in the event no patent issues, for a period of fifteen (15) years from market introduction for the last to be introduced Proprietary Product in the United States. 8.2. In the event this Agreement remains in effect for the entire term specified in Paragraph 8.1 above, and is not otherwise terminated under the provisions of Articles 5. (Due Diligence), 9. (Termination by The Regents), or 10. (Termination by Licensee), Licensee is hereby granted an option for renewal of this Agreement for a period of twenty (20) years from the date of its termination. Said option for renewal shall be *** CONFIDENTIAL TREATMENT REQUESTED

LIFE OF THE AGREEMENT. 8.1. Unless otherwise terminated by operation of law or by acts of the parties in accordance with the terms of this Agreement, this Agreement will be in force from the Effective Date and will remain in effect for the life of the last-to-expire patent licensed under this Agreement, or until the last patent application licensed under this Agreement is abandoned, or in the event no patent issues, for a period of fifteen (15) years from market introduction for the last to be introduced Proprietary Product in the United States. 8.2. In the event this Agreement remains in effect for the entire term specified in Paragraph 8.1 above, and is not otherwise terminated under the provisions of Articles 5. (Due Diligence), 9. (Termination by The Regents), or 10. (Termination by Licensee), Licensee is hereby granted an option for renewal of this Agreement for a period of twenty (20) years *** from the date of its termination. Said option for renewal shall be *** CONFIDENTIAL TREATMENT REQUESTED