Tiers 4 and 5 Jointly Have Fourth Option for Exclusive Commercial License Sample Clauses

Tiers 4 and 5 Jointly Have Fourth Option for Exclusive Commercial License. If no Tier 1, 2, or 3 Member elects an option for an exclusive commercial license within the thirty (30) days or certain fields of use are not covered by a license to a Tier 1, 2, or 3 Member after the negotiation period (defined below) ends, then each Tier 4 and 5 Member has the right to elect an option to negotiate an exclusive commercial license. The option will be limited to particular fields of use if necessary to honor any license executed by a Tier 1, 2, or 3 Member. Each Tier 4 and 5 Member has thirty (30) days to make the election from the date it was informed of its right to elect. If more than one Tier 4 and 5 Member elects an option to negotiate an exclusive commercial license, then the negotiating will be co-exclusive to the electing Members unless the electing Members can agree to negotiate exclusive licenses by different fields of use.
Sample 1
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