Common use of Action by Licensor Clause in Contracts

Action by Licensor. Notwithstanding anything to the contrary in Section 4.1, Licensor shall be entitled to prepare, file, prosecute and maintain any patents regarding which XTL provided notice to Licensor pursuant to Section 4.2, at Licensor's cost and expense ("Abandoned Patents"). It is further agreed that such Abandoned Patents shall be excluded of the License from the date of such notice being served and on.

Appears in 2 contracts

Sources: License Agreement (XTL Biopharmaceuticals LTD), License Agreement (XTL Biopharmaceuticals LTD)