Common use of Covered Event Clause in Contracts

Covered Event. a single Event covered by at least one United States patent, that is commercialized, either as a standalone single Event product or as a component of a stacked (combined Event) product in the United States, and the Last Sale has not occurred more than 4 years before Patent Expiration of the last United States patent having claims that read on the Event; provided that the Event is not subject to an agreement in existence prior to execution by the Signatory of this Agreement that prevents inclusion of the Event under this Agreement. In-licenses of the gene or genetic elements in the Event or of the Event, out-licenses of the Event and commercial stacks incorporating the Event will not prevent an Event from becoming a Covered Event unless the terms of such licenses or the document permitting such commercial stacking prevent the Proprietary Regulatory Property (PRP) Holder from performing its obligations under this Agreement. If the ownership or control of the PRP or Authorizations is split and some part is owned or controlled by a non-Signatory and no Signatory or combination of Signatories can grant the necessary rights under this Agreement, then the Event is not a Covered Event.