Default Rights. Licensee shall have the right but not the obligation to intercede in the event Licensor defaults in its obligations or materially fails to take timely steps to manage and protect the Licensed Patents in a commercially reasonable manner to ensure the preservation and uninterrupted use of the entirety of the license rights granted hereunder.
Appears in 2 contracts
Sources: License Agreement (Brickell Biotech, Inc.), License Agreement (Brickell Biotech, Inc.)