Termination in the Case of a Developing Technology Spin Out Sample Clauses

Termination in the Case of a Developing Technology Spin Out. In the case of a Transfer Triggering Event arising from a Developing Technology Spin Out in which the transferee is not a LOT User within its Participation Period, and has not submitted a LOT Announcement to become a LOT User, as of the effective date of the Transfer, the transferee may terminate the effectiveness of any License that had become effective under Section 1.1(a)(i) by virtue of such Transfer Triggering Event with respect to the Triggered Patents relating to the Transferred Developing Technology that is the subject of such Developing Technology Spin Out (but not the release granted in Section 1.1(a)(ii)) provided such transferee submits a LOT Announcement to become a LOT User and a written notice of its election to so terminate to the LOT Administrator, each within six (6) months after the effective date of such Transfer. Such termination shall become effective as of the later of publication of such transferee’s notice of election to terminate on the LOT Website and such transferee’s Announcement Date. Such transferee shall be an intended third party beneficiary of this LOT Agreement to the extent necessary to submit and effect the termination set forth in the preceding sentence.
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