Common use of Registration, Maintenance and Ownership Clause in Contracts

Registration, Maintenance and Ownership. 10.1.1 BioNumerik will use reasonable best efforts to obtain one global trademark to be used for the Product(s), which is defined in this Agreement as the "Product Trademark". BioNumerik will inform ASTA Medica at intervals about the efforts of obtaining the Product Trademark. The choice of Product Trademark will be made by mutual agreement of BioNumerik and ASTA Medica. In addition to the foregoing, ASTA Medica will check its pool of protected trademarks and will provide BioNumerik with potential Product Trademark proposals if available. If ASTA Medica and BioNumerik select a trademark for the Product(s) that is owned by ASTA Medica, ASTA Medica shall grant and hereby does grant BioNumerik an exclusive royalty-free perpetual paid-up license (with the right to sublicense) to use such trademark in all parts of the world outside the Territory. If the Parties use a trademark for the Product(s) that is owned by BioNumerik, BioNumerik shall grant and hereby does grant ASTA Medica an exclusive royalty-free perpetual paid up license (with the right to sublicense) to use such Product Trademark in all parts of the Territory. Should no global Product Trademark be available or should a given trademark be available but not be acceptable in some jurisdiction (e.g. for linguistic reasons), the Parties will seek and reach agreement on an alternative trademark for such jurisdiction. The ownership, use and licensing of such alternative trademark shall be governed by the same provisions as those contained herein regarding the ownership, use, and licensing of the Product Trademark