Common use of Option by Xxxxxxx to Discontinue License Clause in Contracts

Option by Xxxxxxx to Discontinue License. Xxxxxxx, at its ------------------------------------------------------- option, may elect to discontinue the license granted and surrender all rights hereunder as to any patent on a country-by-country basis. Such election must be made by thirty (30) days written notice by simultaneous facsimile transmission and certified mailing, and, with respect to the surrender of Xxxxxxx' rights, will be effective as of the date of mailing. In the event such an election is made, Lilly's obligations under Sections 4.01 and 4.02 and Xxxxxxx' obligations under Section 4.03 will terminate thirty (30) days from the date of mailing with respect to the specific patent on which the election is made.

Option by Xxxxxxx to Discontinue License. Xxxxxxx, at its ------------------------------------------------------- option, may elect to discontinue the license granted and surrender all rights hereunder as to any patent on a country-by-country basis. Such election must be made by thirty (30) days written notice by simultaneous facsimile transmission and certified mailing, and, with respect to the surrender of Xxxxxxx' rights, will be effective as of the date of mailing. In the event such an election is made, Lilly's obligations under Sections Section 4.01 and 4.02 and Xxxxxxx' obligations under Section 4.03 will terminate thirty (30) days from the date of mailing with respect to the specific patent on which the election is made.

Option by Xxxxxxx to Discontinue License. Xxxxxxx, at its ------------------------------------------------------- option, may elect to discontinue the license granted and surrender all rights hereunder as to any patent on a country-by-country basis. Such election must be made by thirty (30) days written notice by simultaneous facsimile transmission and certified mailing, and, with respect to the surrender of Xxxxxxx' ’ rights, will be effective as of the date of mailing. In the event such an election is made, Lilly's ’s obligations under Sections 4.01 and 4.02 and Xxxxxxx' ’ obligations under Section 4.03 will terminate thirty (30) days from the date of mailing with respect to the specific patent on which the election is made.

Option by Xxxxxxx to Discontinue License. Xxxxxxx, at its ------------------------------------------------------- ------------------------------------------------------ option, may elect to discontinue the license granted and surrender all rights hereunder as to any patent on a country-by-country basis. Such election must be made by thirty (30) days written notice by simultaneous facsimile transmission and certified mailing, and, with respect to the surrender of Xxxxxxx' rights, will be effective as of the date of mailing. In the event such an election is made, Lilly's obligations under Sections 4.01 and 4.02 and Xxxxxxx' obligations under Section 4.03 will terminate thirty (30) days from the date of mailing with respect to the specific patent on which the election is made.