Common use of FOREIGN FILING ELECTION Clause in Contracts

FOREIGN FILING ELECTION. If FARDA elects a license under 8.3.b(i), FARDA shall notify UNIVERSITY of those foreign countries in which it desires a license in sufficient time for UNIVERSITY to satisfy the patent law requirements of those countries. The UNIVERSITY shall provide FARDA with an invoice in the amount of a good faith estimate for the anticipated out-of-pocket costs, including patent filing, prosecution and maintenance fees, related to those foreign filings. FARDA shall pay the invoice amount as soon as possible to avoid the UNIVERSITY having to pay those costs prior to receiving FARDA’s payment. To the extent that the estimated amount is greater or smaller than the actual incurred costs, the parties shall settle the differential amount as soon as possible after the actual amount is known.

FOREIGN FILING ELECTION. If the FARDA elects a license under 8.3.b(i), the FARDA shall notify UNIVERSITY of those foreign countries in which it desires a license in sufficient time for UNIVERSITY to satisfy the patent law requirements of those countries. The UNIVERSITY shall provide FARDA with an invoice in the amount of a good faith estimate for the anticipated out-out- of-pocket costs, including patent filing, prosecution and maintenance fees, related to those foreign filings. FARDA shall pay the invoice amount as soon as possible to avoid the UNIVERSITY having to pay those costs prior to receiving FARDA’s payment. To the extent that the estimated amount is greater or smaller than the actual incurred costs, the parties shall settle the differential amount as soon as possible after the actual amount is known.