Common use of Most Favored Licensee Clause in Contracts

Most Favored Licensee. 15.1 In the event that after the EFFECTIVE DATE of this Agreement BECTON enters into a license agreement with a third party, in which such third party is licensed to make, use and sell any PRODUCTS at a royalty rate which is different from the royalty rate set forth in this Agreement, BECTON shall within thirty (30) days after the signing of such license agreement, disclose to SELFCARE the royalty rate in the third party agreement. BECTON will provide such information to SELFCARE's attorneys who will maintain the information in confidence and may disclose it to others within SELFCARE only on a confidential, need-to-know basis. 15.2 Concurrent with the above report, BECTON will extend to SELFCARE the option of substituting the royalty rate in the third party agreement for the royalty rate in this Agreement, subject to the following provision: (a) The different royalty rate shall become effective as of the date of its written acceptance by SELFCARE and shall apply only to sales occurring thereafter. In no event shall SELFCARE be entitled to a refund or credit of any monies paid or payable to BECTON prior to the acceptance of the different royalty rate. 15.3 In the event that SELFCARE does not accept the different royalty rate relative to Paragraph 15.2 within thirty (30) days after SELFCARE receives notice from BECTON, SELFCARE's option to substitute the different royalty rate shall be deemed forever waived.

Most Favored Licensee. 15.1 In the event that after the EFFECTIVE DATE of this Agreement BECTON enters into a license agreement with a third party, in which such third party is licensed to make, use and sell any PRODUCTS at a royalty rate which is different from the royalty rate set forth in this Agreement, BECTON shall within thirty (30) days after the signing of such license agreement, disclose to SELFCARE QUIDEL the royalty rate in the third party agreement. BECTON will provide such information to SELFCAREQUIDEL's attorneys who will maintain the information in confidence and may disclose it to others within SELFCARE QUIDEL only on a confidential, need-to-know basis. 15.2 Concurrent with the above report, BECTON will extend to SELFCARE QUIDEL the option of substituting the royalty rate in the third party agreement for the royalty rate in this Agreement, subject to the following provision: (a) The different royalty rate shall become effective as of the date of its written acceptance by SELFCARE QUIDEL and shall apply only to sales occurring thereafter. In no event shall SELFCARE QUIDEL be entitled to a refund or credit of any monies paid or payable to BECTON prior to the acceptance of the different royalty rate. 15.3 In the event that SELFCARE QUIDEL does not accept the different royalty rate relative to Paragraph 15.2 within thirty (30) days after SELFCARE QUIDEL receives notice from BECTON, SELFCAREQUIDEL's option to substitute the different royalty rate shall be deemed forever waived.