Common use of Stanford Suit Clause in Contracts

Stanford Suit. If neither Section 14.4 nor 14.5 apply, Stanford has the right to institute and prosecute a suit or defend any declaratory judgment action, and may name ***** as a party for standing purposes. If Stanford decides to institute suit, it will notify ***** in writing. If ***** does not notify Stanford in writing that it desires to jointly prosecute the suit within 15 days after the date of the notice, ***** will assign and hereby does assign to Stanford all rights, causes of action, and damages resulting from the alleged infringement. Stanford will bear the entire cost of the litigation and will retain the entire amount of any recovery or settlement.

Stanford Suit. If neither Section 14.4 nor 14.5 apply, Stanford has the right to institute and prosecute a suit or defend any declaratory judgment action, and may name ***** Aditxt as a party for standing purposes. If Stanford decides to institute suit, it will notify ***** Aditxt in writing. If ***** Aditxt does not notify Stanford in writing that it desires to jointly prosecute the suit within 15 days after the date of the notice, ***** Aditxt will assign and hereby does assign to Stanford all rights, causes of action, and damages resulting from the alleged infringement. Stanford will bear the entire cost of the litigation and will retain the entire amount of any recovery or settlement.