Common use of Patent Challenges by LICENSEE Clause in Contracts

Patent Challenges by LICENSEE. LICENSEE will provide written notice to MSK at least three (3) months prior to LICENSEE or any of its Affiliates bringing any legal proceeding to challenge the validity or enforceability any claim included in the Patent Rights (a “Patent Challenge”), including: (a) stating the basis for such Patent Challenge: and (b) providing a copy of all relevant prior art or other materials used as the basis for such Patent Challenge. In the event that LICENSEE brings a Patent Challenge: (i) MSK may at any time thereafter terminate this Agreement upon written notice to LICENSEE; (ii) during pendency of the Patent Challenge, all license fees, milestone payments and royalties due under this Agreement will be doubled: and (iii) in the event of an unsuccessful Patent Challenge by LICENSEE. (A) LICENSEE shall reimburse MSK for all reasonable costs and attorney fees that MSK incurs in connection with such Patent Challenge, and (B) starting on the date (if at all) that the Patent Challenge is determined to be Unsuccessful, all license fees, milestone payments and royalty rates due as per this Agreement will be trebled. As used herein, “Unsuccessful” means that, upon the conclusion of the action before the court or other governmental authority in which the Patent Challenge was brought. LICENSEE failed to obtain a judgment that all of the patent claims within the Patent Challenge were invalid or unenforceable

Appears in 3 contracts

Samples: License Agreement (Y-mAbs Therapeutics, Inc.), License Agreement (Y-mAbs Therapeutics, Inc.), License Agreement (Y-mAbs Therapeutics, Inc.)

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Patent Challenges by LICENSEE. LICENSEE will provide written notice to MSK at least three (3) months prior to LICENSEE or any of its Affiliates bringing any legal proceeding to challenge the validity or enforceability any claim included in the Patent Rights (a “Patent Challenge”), including: (a) stating the basis for such Patent Challenge: ; and (b) providing a copy of all relevant prior art or other materials used as the basis for such Patent Challenge. In the event that LICENSEE brings a Patent Challenge: (i) MSK may at any time thereafter terminate this Agreement upon written notice to LICENSEE; (ii) during pendency of the Patent Challenge, all license fees, milestone payments and royalties due under this Agreement will be doubled: ; and (iii) in the event of an unsuccessful Patent Challenge by LICENSEE. , (A) LICENSEE shall reimburse MSK for all reasonable costs and attorney fees that MSK incurs in connection with such Patent Challenge, and (B) starting on the date (if at all) that the Patent Challenge is determined to be Unsuccessful, all license fees, milestone payments and royalty rates due as per this Agreement will be trebled. As used herein, “Unsuccessful” means that, upon the conclusion of the action before the court or other governmental authority in which the Patent Challenge was brought. , LICENSEE failed to obtain a judgment that all of the patent claims within the Patent Challenge were invalid or unenforceable.

Appears in 3 contracts

Samples: License Agreement (Y-mAbs Therapeutics, Inc.), License Agreement (Y-mAbs Therapeutics, Inc.), License Agreement (Y-mAbs Therapeutics, Inc.)

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Patent Challenges by LICENSEE. LICENSEE will provide written notice to MSK and MIT, as applicable, at least three (3) months [****] prior to LICENSEE or any of its Affiliates bringing any legal proceeding to challenge the validity or enforceability any claim included in the Patent Rights (a “Patent Challenge”), including: (a) stating the basis for such Patent Challenge: ; and (b) providing a copy of all relevant prior art or other materials used as the basis for such Patent Challenge. In the event that LICENSEE brings a Patent Challenge: (i) MSK may at any time thereafter terminate this Agreement upon written notice to LICENSEE; (ii) during pendency of the Patent Challenge, all license fees, milestone payments and royalties due under this Agreement will be doubled: ; and (iii) in the event of an unsuccessful Patent Challenge by LICENSEE. , (A) LICENSEE shall reimburse MSK and MIT for all reasonable costs and attorney fees that MSK or MIT incurs in connection with such Patent Challenge, and (B) starting on the date (if at all) that the Patent Challenge is determined to be Unsuccessful, all license fees, milestone payments and royalty rates due as per this Agreement will be trebled. As used herein, “Unsuccessful” means that, upon the conclusion of the action before the court or other governmental authority in which the Patent Challenge was brought. , LICENSEE failed to obtain a judgment that all of the patent claims within the Patent Challenge were invalid or unenforceable. In the event that such a Patent Challenge is successful, LICENSEE will have no right to recoup any payments made during the Patent Challenge

Appears in 1 contract

Samples: License Agreement (Y-mAbs Therapeutics, Inc.)

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