Common use of Cooperation of Licensor Clause in Contracts

Cooperation of Licensor. Upon execution of the Agreement, LICENSOR, in consideration of the various continuing payment obligations of LICENSEE under Article 5 (Royalties and Milestone Payments and Equity Interest) and Article 9 (Termination), shall provide to LICENSEE such assistance, and cooperation as shall be requested and pre-authorized in writing by LICENSEE relating to the development and commercialization of Licensed Products, such assistance and cooperation will be provided by LICENSOR to LICENSEE at a rate of $250/hour for consultant time and a minimum retainer of two (2) hours a month. LICENSEE shall, as it deems necessary, separately contract with LICENSOR for consulting services regarding the design and/or manufacturing and/or commercialization and/or general business purposes of the Licensed Products. The terms of such consulting agreement to be mutually agreed but will include a rate of $250/hour for consultant time and a minimum retainer of two (2) hours a month and guaranteed availability of ten (10) hours per month, being paid within 30 days of invoicing, and will be terminable by either party on sixty (60) days written notice. All other terms to be separately negotiated between LICENSOR and LICENSEE.