Common use of Rate Adjustment on Challenge; Payment of Costs and Expenses Clause in Contracts

Rate Adjustment on Challenge; Payment of Costs and Expenses. (i) If Company (or any entity or person acting on its behalf or at its direction) initiates any proceeding or otherwise asserts any claim challenging the validity or enforceability of any Patent in any court, administrative agency or other forum (“Challenge”), all royalty rates, minimum royalties, and other payment rates in Sections 4b(iii) and 4c are automatically doubled on and after the date of such challenge for the remaining term of this Agreement.

Appears in 2 contracts

Samples: Exclusive License Agreement (Tonix Pharmaceuticals Holding Corp.), Exclusive License Agreement (Tonix Pharmaceuticals Holding Corp.)

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Rate Adjustment on Challenge; Payment of Costs and Expenses. (i) If In the event Company (or any entity or person acting on its behalf or at its directionbehalf) initiates any proceeding or otherwise asserts any claim challenging the validity or enforceability of any Patent in any court, administrative agency or other forum (“Challenge”), all royalty rates, minimum royalties, and other payment rates set forth in Sections 4b(iii4b(ii) and 4c are shall be automatically doubled [***] on and after the date of such challenge for the remaining term of this Agreement.

Appears in 2 contracts

Samples: Exclusive License Agreement (Belite Bio, Inc), Exclusive License Agreement (Belite Bio, Inc)

Rate Adjustment on Challenge; Payment of Costs and Expenses. (i) If In the event Company (or any entity or person acting on its behalf or at its directionbehalf) initiates any proceeding or otherwise asserts any claim challenging the validity or enforceability of any Patent in any court, administrative agency or other forum (“Challenge”), all royalty rates, minimum royalties, and other payment rates set forth in Sections 4b(iii) and 4c are automatically doubled for Patent Products shall [***] on and after the date of such challenge for the remaining term of this Agreement.

Appears in 1 contract

Samples: License Agreement (Singular Genomics Systems, Inc.)

Rate Adjustment on Challenge; Payment of Costs and Expenses. (i) If In the event Company (or any entity or person acting on its behalf or at its directionbehalf) initiates any proceeding or otherwise asserts any claim challenging the validity or enforceability of any Patent in any court, administrative agency or other forum (“Challenge”), all royalty rates, minimum royalties, and other payment rates set forth in Sections 4b(iii) and 4c are shall be automatically doubled [***] on and after the date of such challenge for the remaining term of this Agreement.

Appears in 1 contract

Samples: Exclusive License Agreement (Zogenix, Inc.)

Rate Adjustment on Challenge; Payment of Costs and Expenses. (i) If In the event Company (or any entity or person acting on its behalf or at its directionbehalf) initiates any proceeding or otherwise asserts any claim challenging the validity or enforceability of any Patent in any court, administrative agency or other forum (“Challenge”), all royalty rates, minimum royalties, and other payment rates set forth in Sections 4b(iii) and 4c are shall be automatically doubled on and after the date of such challenge for the remaining term of this Agreement.

Appears in 1 contract

Samples: Discussion Purposes Only

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Rate Adjustment on Challenge; Payment of Costs and Expenses. (i) i. If Company (or any entity or person acting on its behalf or at its Company’s request and direction) initiates any proceeding or otherwise asserts any claim challenging the validity or enforceability of any Patent in any court, administrative agency or other forum (“Challenge”), all royalty rates, minimum royalties, and other payment rates in Sections 4b(iii) and 4c are with respect to the Patent subject to such Challenge shall be automatically doubled multiplied by [***] on and after the date of such challenge Challenge for the remaining term of this Agreement.

Appears in 1 contract

Samples: Exclusive License Agreement (ATAI Life Sciences B.V.)

Rate Adjustment on Challenge; Payment of Costs and Expenses. (i) If In the event Company (or any entity or person acting on its behalf or at its directionbehalf) initiates any proceeding or otherwise asserts any claim challenging the validity or enforceability of any Patent in any court, administrative agency or other forum (“Challenge”), all royalty rates, minimum royalties, and other payment rates set forth in Sections 4b(iii) and 4c are shall be automatically doubled on and after the date of such challenge for the remaining term of this Agreement.

Appears in 1 contract

Samples: Exclusive License Agreement (Vor Biopharma Inc.)

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