Global License. The grant of the license as set forth in this Agreement, to Eucodis is subordinate to MDI’s ability to execute a global license deal which would include the Eucodis Territory. MDI shall control and lead all global licensing negotiations and Eucodis shall have the right to be reasonably involved in the process. Eucodis expressly agrees that should it be approached by a third party interested in a global license that such third party must be referred to MDI immediately. MDI expressly agrees that should it be approached by a third party interested in a global license, MDI will immediately inform Eucodis. If MDI executes a global license Eucodis shall be entitled to a percentage of the global license which reflects the percentage of the EU for the Product in the Field in the global market. This market percentage shall be the average of three leading market share reports, selected by the Steering Committee, reflecting the value of the Products market. MDI and Eucodis will share the Net Revenues from the global licensor according to market share percentages which accurately reflects the percentage of the EU for the Product in the Field in the global market.
Appears in 3 contracts
Sources: Definitive Master Agreement (Global Clean Energy Holdings, Inc.), Definitive Master Agreement (Global Clean Energy Holdings, Inc.), Definitive Master Agreement (Global Clean Energy Holdings, Inc.)