Suit by BioLine Clause Samples
The "Suit by BioLine" clause establishes BioLine's right to initiate legal action under certain circumstances specified in the agreement. Typically, this clause outlines the conditions under which BioLine may bring a lawsuit, such as in cases of breach, infringement, or failure to perform contractual obligations by the other party. By clearly defining BioLine's ability to pursue legal remedies, the clause ensures that BioLine has a formal mechanism to protect its interests and enforce the terms of the contract if necessary.
Suit by BioLine. BioLine shall have the right, but not the obligation, to take action in the prosecution, prevention, or termination of any Infringement of Licensed Patents. Should BioLine elect to bring suit against an infringer and Licensor is joined as party plaintiff in any such suit, Licensor shall have the right to approve the counsel selected by BioLine to represent BioLine and Licensor, such approval not to be unreasonably withheld. The expenses of such suit or suits that BioLine elects to bring, including any expenses of Licensor incurred in conjunction with the prosecution of such suits or the settlement thereof, shall be paid for entirely by BioLine and BioLine shall hold Licensor free, clear and harmless from and against any and all costs of such litigation, including reasonable attorneys’ fees. BioLine shall not compromise or settle such litigation without the prior written consent of Licensor, which consent shall not be unreasonably withheld or delayed. In the event BioLine exercises its right to s▇▇ pursuant to this Section 9.1.2, it shall first reimburse itself out of any sums recovered in such suit or in settlement thereof for all costs and expenses of every kind and character, including reasonable attorneys’ fees, necessarily involved in the prosecution of any such suit. If, after such reimbursement, any funds shall remain from said recovery, then Licensor shall receive an amount equal to [***] of such funds and the remaining [***] of such funds shall be retained by BioLine.