Examples of New HXXX Technology in a sentence
Upon the receipt of such notice, HBIO shall have sixty (60) days to elect to either license such New HXXX Technology in accordance with the above provisions, after which such time, if HBIO fails to make such election, or elects not take such license, HXXX shall have no obligations to HBIO under this Article IV with respect to such non-elected/rejected New HXXX Technology (the “Rejected New HXXX Technology”).
For purposes of this Agreement, HBIO will be deemed to be actively using the New HXXX Technology if either: (i) any New HXXX Technology is incorporated into any products being developed, manufactured, marketed, distributed or sold by HBIO or any Third Party on behalf of HBIO; or (ii) HBIO is actively using, or has actively used within the previous six (6) month period, the New HXXX Technology as part of its research and development efforts for the Harvard Apparatus Research Business.
HXXX shall, and shall cause the other members of the HXXX Group to, jointly and severally, indemnify, defend and hold harmless the HBIO Indemnitees from and against any and all Liabilities of the HBIO Indemnitees relating to Third-Party Claims that any of the New HXXX Technology infringes upon or misappropriates the Intellectual Property of any Third Party.
Notwithstanding the above, until five years from the Separation Date, the licenses granted in accordance with Section 4.2 above shall be royalty-free, and should HBIO desire to continue the license of the New HXXX Technology thereafter, the Parties shall negotiate in good faith commercially reasonable payment terms of such continued license.
Without limiting the generality of the foregoing licenses granted in Sections 4.1 and 4.2, with respect to Software included within the New HXXX Technology, such licenses include the right to use, modify, and reproduce such software, in source code and object code form and Improvements thereof made by or on behalf of HBIO or its Subsidiaries.
Should HBIO desire to license the New HXXX Technology for use outside the scope of the Harvard Apparatus Research Business, the Parties shall negotiate in good faith the terms and conditions, including the payment terms, of such license.
Subject to Article IX hereof, the licenses granted in Section 4.1 and 4.2 hereof shall in no way limit the ability of HXXX to use the New HXXX Technology in the HXXX Business.
Notwithstanding the foregoing, HBIO shall not file a patent application with respect to any Improvements on any New HXXX Technology without the prior written consent of HXXX.
HXXX will bear sole responsibility and cost for prosecuting and maintaining Patents that it owns, and shall have the sole authority to make decisions regarding the prosecution of Patents included in the New HXXX Technology.
The licenses granted by HXXX to HBIO to the New HXXX Technology under Section 4.2 shall remain in effect until the earlier to occur of: (a) the date on which HBIO ceases to actively use the New HXXX Technology in its Harvard Apparatus Research Business, which date shall be no sooner than one year after disclosure; (b) with respect to each Patent included in the New HXXX Technology, the date on which such Patent shall expire, or (c) an Insolvency Event occurs with respect to HBIO.