Common use of Most Favored Licensee Clause in Contracts

Most Favored Licensee. Should COMPANY's exclusive license hereunder become nonexclusive in any country of the Licensed Territory due to LICENSORS' exercise of their conversion remedy and should LICENSORS thereafter grant to a third party a license for any Licensed Product in such country containing more favorable terms than those granted to COMPANY, then in such an event, LICENSORS promptly shall notify COMPANY and or its Affiliates or sublicensees, as applicable, and COMPANY and such DAPD Affiliates or sublicensees shall have the benefit of such more favorable terms provided they accept any less favorable terms contained in such license.

Most Favored Licensee. Should COMPANY's ’s exclusive license hereunder become nonexclusive in any country of the Licensed Territory due to LICENSORS' LICENSOR’s exercise of their conversion remedy and should LICENSORS LICENSOR thereafter grant to a third party a license for any Licensed Product in such country containing more favorable terms than those granted to COMPANY, then in such an event, LICENSORS LICENSOR promptly shall notify COMPANY and or its Affiliates or sublicensees, as applicable, and COMPANY and such DAPD Affiliates or sublicensees shall have the benefit of such more favorable terms provided they accept any less favorable terms contained in such license.

Most Favored Licensee. Should COMPANY's exclusive license hereunder become nonexclusive in any country of the Licensed Territory due to LICENSORS' LICENSOR's exercise of their conversion remedy and should LICENSORS LICENSOR thereafter grant to a third party a license for any Licensed Product in such country containing more favorable terms than those granted to COMPANY, then in such an event, LICENSORS LICENSOR promptly shall notify COMPANY and or its Affiliates or sublicensees, as applicable, and COMPANY and such DAPD Affiliates or sublicensees shall have the benefit of such more favorable terms provided they accept any less favorable terms contained in such license.

Most Favored Licensee. Should COMPANY's exclusive license hereunder become nonexclusive in any country of the Licensed Territory due to LICENSORS' exercise of their conversion remedy and should LICENSORS thereafter grant to a third party a license for any Licensed Product in such country containing more favorable terms than those granted to COMPANY, then in such an event, LICENSORS promptly shall notify COMPANY and or its Affiliates or sublicensees, as applicable, and COMPANY and such DAPD Affiliates or sublicensees shall have the benefit of such more favorable terms provided they accept any less favorable terms contained in such license.