Common use of Exploitation of results Clause in Contracts

Exploitation of results. 11.1. The subject and modes of exploitation are summarized in Article 27. Until the end of the EXPLOITATION PHASE, the COMPANY shall conduct operations within the territory of the Member States of the European Union, to the extent specified in Article 27. 11.2. During the exploitation of the RESULTS, the COMPANY is free to improve upon the results. These improvements, useful enhancements to exploitation as specified in Article 27, shall be deemed part of the RESULTS, with this agreement applying also to those improvements. 11.3. COMPANY shall notify the DIRECTION GÉNÉRALE of its decision to exploit or not to exploit the RESULTS: - Within six months after the RESEARCH PHASE; - In writing and with detailed explanation/justification. If the COMPANY does not make a notification under the preceding paragraph, the company is presumed irrefutably to be exploiting the results. Where the COMPANY began to exploit the RESULTS during the RESEARCH PHASE, it cannot take the decision not to exploit the RESULTS except by justifying so by a particularly adverse development of the economical, technical or legal environment compared to the situation when the first act of exploitation has been made. 11.4. If the COMPANY decides not to exploit the RESULTS, the COMPANY will: - Transfer the rights on the RESULTS to the REGION or any entity assigned by the REGION; - Refrain from any use, exploitation, sale or any concession of all or part of the RESULTS; - Not to pursue on behalf of any third party the research in whole or in part on the topic set out in Article 20, during the seventy-two months following its decision not to exploit. Upon becoming owner of rights by virtue of paragraph 1, the REGION is free to sell said rights to anyone. 11.5. In accordance with Articles 74 to 78 of the REGULATORY DECREE, the COMPANY that decides to exploit the results shall pay the fees specified in Article 28. It will pay each fee upon receipt from the Receiver General of the Walloon Region an "Invitation to pay," indicating the payment methods. 11.6. The COMPANY may decide not to exploit the RESULTS during the RESEARCH PHASE or within six months following the end of it. The COMPANY is completely exempt from repayment of the GRANT if the following two conditions are met simultaneously: 1. it communicates the decision by registered mail to the DIRECTION GÉNÉRALE, outlining the failure of the project in terms of technical and commercial targets set out in Articles 19 and following. 2. it transfers to the REGION, or any entity designated by it, the real rights on the RESULTS. If the two conditions referred to in paragraph 2 are not met, the COMPANY will reimburse the total GRANT received to the REGION, without interest. 11.7. The COMPANY that has decided to exploit the results may subsequently notify the DIRECTION GÉNÉRALE that it is abandoning them. In this case, Articles 11.4 and 11.8. apply. 11.8. During the exploitation of the RESULTS, the COMPANY may stop reimbursing the GRANT if the following two conditions are met: 1. it renounces the exploitation and informs the DIRECTION GÉNÉRALE in writing the reasons for its decision on objective grounds; 2. it transfers to the REGION, or any entity designated by it, real rights on the RESULTS. All previous payments made by the COMPANY remain acquired by the REGION and COMPANY remains liable to repay amounts during the calendar year of the waiver. The exemption referred to in paragraph 1 shall take effect the following calendar year of the decision.