Common use of TKT's Second Right to Respond Clause in Contracts

TKT's Second Right to Respond. In the event that MMD elects not to respond to, defend or prosecute any actions, challenges, infringements, misappropriations or proceeding by a Third Party alleging infringement described in Section 8.6. within sixty (60) days of becoming aware of or being notified of such actions, challenges, infringements, misappropriations or proceedings, then TKT shall have the option to do so at TKT's sole cost, provided that in such case all amounts so recovered from any Third Party shall be retained by TKT and TKT shall have no further obligations to MMD with respect to the response or defense thereof.

TKT's Second Right to Respond. In the event that MMD elects not to respond to, defend or prosecute any actions, challenges, infringements, misappropriations or proceeding by a Third Party alleging infringement described in Section 8.6. 8.6 within sixty (60) days of becoming aware of or being notified of such actions, challenges, infringements, misappropriations or proceedings, then TKT shall have the option to do so at TKT's sole cost, provided that in such case all amounts so recovered from any Third Party shall be retained by TKT and TKT shall have no further obligations to MMD with respect to the response or defense thereof.