Common use of Suit by Licensor Clause in Contracts

Suit by Licensor. If XTL does not take action in the prosecution, prevention, or termination of any Infringement pursuant to Section 9.1.2 above, and has not commenced negotiations with the infringer for the discontinuance of said Infringement, within * days after receipt of notice to XTL by Licensor of the existence of an Infringement, Licensor may elect to do so. Should Licensor elect to bring suit against an infringer and XTL is joined as party plaintiff in any such suit, XTL shall have the right to approve the counsel selected by Licensor to represent Licensor and XTL, such approval not to be unreasonably withheld. The expenses of such suit or suits that Licensor elects to bring, including any expenses of XTL incurred in conjunction with the prosecution of such suits or the settlement thereof, shall be paid for entirely by Licensor and Licensor shall hold XTL free, clear and harmless from and against any and all costs of such litigation, including reasonable attorneys’ fees. Licensor shall not compromise or settle such litigation without the prior written consent of XTL, which consent shall not be unreasonably withheld or delayed. In the event Licensor exercise its right to sxx pursuant to this Section 9.1.3, 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 XTL shall receive an amount equal to(1) if such litigation involved the enforcement of a sublicense agreement the proceeds of which should have been considered Sublicense Receipts – that certain portion of such remaining funds as otherwise would have been due to Licensor per section 6.1.3 herein, or (2) in any other case - twenty percent (20%) of such funds and the remaining funds shall be retained by Licensor.

Suit by Licensor. If XTL BioLine does not take action in the prosecution, prevention, or termination of any Infringement pursuant to Section 9.1.2 above, and has not commenced negotiations with the infringer for the discontinuance of said Infringement, within * ninety (90) days after receipt of notice to XTL BioLine by Licensor of the existence of an Infringement, Licensor may elect elect, at its sole and complete discretion, to do so. Should Licensor elect to bring suit against an infringer and XTL BioLine is joined as party plaintiff in any such suit, XTL BioLine shall have the right to approve the counsel selected by Licensor to represent Licensor and XTLBioLine, such approval not to be unreasonably withheld. The expenses of such suit or suits that Licensor elects to bring, including any expenses of XTL BioLine incurred in conjunction with the prosecution of such suits or the settlement thereof, shall be paid for entirely by Licensor and Licensor shall hold XTL BioLine free, clear and harmless from and against any and all costs of such litigation, including reasonable attorneys’ fees. Licensor shall not compromise or settle such litigation without the prior written consent of XTLBioLine, which consent shall not be unreasonably withheld or delayed. In the event Licensor exercise exercises its right to sxx xxx pursuant to this Section 9.1.3, 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 XTL BioLine shall receive an amount equal to(1) if such litigation involved the enforcement of a sublicense agreement the proceeds of which should have been considered Sublicense Receipts – that certain portion of such remaining funds as otherwise would have been due to Licensor per section 6.1.3 herein, or (2) in any other case - twenty twenty-five percent (2025%) of such funds and the remaining seventy-five percent (75%) of such funds shall be retained by Licensor.

Suit by Licensor. If XTL BioLine does not take action in the prosecution, prevention, or termination of any Infringement pursuant to Section 9.1.2 above, and has not commenced negotiations with the infringer for the discontinuance of said Infringement, within * ninety (90) days after receipt of notice to XTL BioLine by Licensor of the existence of an Infringement, Licensor may elect to do so. Should Licensor elect to bring suit against an infringer and XTL BioLine is joined as party plaintiff in any such suit, XTL BioLine shall have the right to approve the counsel selected by Licensor to represent Licensor and XTLBioLine, such approval not to be unreasonably withheld. The expenses of such suit or suits that Licensor elects to bring, including any expenses of XTL BioLine incurred in conjunction with the prosecution of such suits or the settlement thereof, shall be paid for entirely by Licensor and Licensor shall hold XTL BioLine free, clear and harmless from and against any and all costs of such litigation, including reasonable attorneys’ fees. Licensor shall not compromise or settle such litigation without the prior written consent of XTLBioLine, which consent shall not be unreasonably withheld or delayed. In the event Licensor exercise its right to sxx pursuant to this Section 9.1.3, 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 XTL shall receive an amount equal to(1) if such litigation involved the enforcement of a sublicense agreement the proceeds of which should have been considered Sublicense Receipts – that certain portion of such remaining funds as otherwise would have been due to Licensor per section 6.1.3 herein, or (2) in any other case - twenty percent (20%) of such funds and the remaining funds shall be retained by Licensor[***].