Common use of Patent Reimbursement Clause in Contracts

Patent Reimbursement. Within [CONFIDENTIAL TREATMENT REQUESTED] /*/ ([CONFIDENTIAL TREATMENT REQUESTED] /*/) days after the Effective Date, Company will reimburse Penn for all historically accrued attorneys fees, expenses, official fees and all other charges accumulated prior to the Effective Date incident to the preparation, filing, prosecution and maintenance of the Penn Patent Rights (including any interference negotiations, claims or proceedings), including those amounts paid by Penn to BMS before the Effective Date pursuant to the TDA, Penn’s good faith estimate is that such fees, expenses and other charges in the aggregate are $[CONFIDENTIAL TREATMENT REQUESTED] /*/. Thereafter during the Term, Company will either pay directly under the Client and Billing Agreement then in effect or reimburse Penn for all its out-of-pocket and documented attorneys fees, expenses, official fees and all other charges accumulated on or after the Effective Date incident to the preparation, filing, prosecution and maintenance of the Penn Patent Rights, including any interference negotiations, claims or proceedings, within [CONFIDENTIAL TREATMENT REQUESTED] /*/ ([CONFIDENTIAL TREATMENT REQUESTED] /*/) days after Company’s receipt of invoices from Penn for such fees, expenses and other charges. Penn will invoice Company for any such fees, expenses and other charges on a monthly basis.