Common use of Discontinuance of Use Clause in Contracts

Discontinuance of Use. On or after the termination of the Term, the Executive may request that the Board approve the transfer or assignment to the Executive of a (i) patent or an Executive invention which existed during the Term but has not been practiced or used for a period of one (1) year or more prior to the Executive's request therefor or (ii) trademark, service mark ▇▇ tradename which was owned by the Company during the Term but has not been used for a period of one (1) year or more prior to the Executive's request therefor. The Board shall make a determination with respect to such transfer or assignment and the value thereof in its sole discretion.

Discontinuance of Use. On or after the termination of the Term, the Executive may request that the Board approve the transfer or assignment to the Executive of a (i) patent or an Executive invention which existed during the Term but has not been practiced or used for a period of one (1) year or more prior to the Executive's request therefor or (ii) trademark, service mark ▇▇▇▇ or tradename which was owned by the Company during the Term but has not been used for a period of one (1) year or more prior to the Executive's request therefor. The Board shall make a determination with respect to such transfer or assignment and the value thereof in its sole discretion.