Grant of License and Option Clause Samples

The "Grant of License and Option" clause establishes the rights given by one party to another to use certain intellectual property, technology, or products, and may also provide the recipient with an option to acquire additional rights in the future. Typically, this clause specifies the scope of the license (such as exclusive or non-exclusive), the territory, and the duration, as well as the conditions under which the option can be exercised, such as meeting certain milestones or making additional payments. Its core practical function is to clearly define the permissions and future opportunities available to the licensee, thereby reducing ambiguity and facilitating business planning for both parties.
Grant of License and Option. (a) The parties hereby acknowledge that, pursuant to the Research Funding Agreement, BAXTER has assigned to SANGAMO any and all of its rights to BAXTER Inventions and to Joint Inventions, including all rights under the patent, copyright and other intellectual property laws of the United States or any other country. (b) SANGAMO hereby grants to BAXTER * license including the right to sub-license pursuant to Clause 3.2 under the Patent Rights, the Technology, and under Invention Patents and Inventions (other than Inventions Patents to the extent they claim BAXTER Inventions, and other than BAXTER Inventions) to * * Licensed Products for use in the Field throughout the Territory for the term of this Agreement. * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * (c) SANGAMO hereby grants to BAXTER * * license, including the exclusive right to sub-license, under the Invention Patents to the extent they claim BAXTER Inventions and under BAXTER Inventions for all purposes throughout the Territory; provided, however, that SANGAMO reserves the right thereunder to conduct its obligations and exercise its rights under this Agreement. * Certain information on this page has been omitted and filed separately with the Commission. Confidential treatment has been requested with respect to the omitted portions. (d) SANGAMO hereby grants to BAXTER * * * * * license, including the right to sub-license, under the Invention Patents to the extent they claim Joint Inventions and under Joint Inventions for all purposes throughout the Territory for the term of this Agreement, other than to * * * * Licensed Products for use in the Field throughout the Territory for the term of this Agreement. (e) SANGAMO hereby grants to BAXTER the exclusive option, exercisable for a period of * * * after the Effective Date, to purchase a Convertible Debenture having a face amount of * * * * * * * pursuant to a Convertible Debenture Purchase Agreement substantially in the form of the similar agreement between the parties entered into concurrently herewith. Such option is exercisable by BAXTER giving express written notice to SANGAMO of its desire to exercise such option, and paying to SANGAMO the sum of * * * * * * * prior to the expiration of such option. If BAXTER timely exercises such option and purchases such Convertible Debenture, SANGAMO shall grant to BAXTER a right of first refusal, for a period of * years after the date of the issuance of such Convertible Debenture, to obtai...
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Grant of License and Option. 2.1 Subject to the terms and conditions of this Agreement, WFUHS hereby grants to Tengion and Tengion accepts from WFUHS, an exclusive, worldwide right and license, including the right to sublicense, to make, use and sell the Improvement Products under WFUHS’s rights in the Improvement Patents in the Licensed Field only. 2.2 Subject to the terms and conditions of this Agreement, WFUHS hereby grants to Tengion and Tengion accepts from WFUHS, a non-exclusive, worldwide, right and license, including the right to sublicense, to the Know-How. 2.3 Subject to the terms and conditions of this Agreement, WFUHS hereby grants to Tengion and Tengion accepts from WFUHS for the Option Period (in each case) a non-transferable (except as provided in Article 14.1), exclusive option to negotiate in good faith for a royalty-bearing, worldwide, exclusive license, including the right to sublicense, to practice all the rights under the New Development Patents in the Licensed Field only (the “Option”). 2.4 Notwithstanding the rights, licenses and Option granted in Articles 2.1, 2.2 and 2.3, Tengion’s rights and licenses under this Agreement are subject to any rights of the U.S. government under applicable laws and regulations and pursuant to any contract, grant or similar funding agreement between WFUHS and the U.S. government. * Confidential Treatment Requested 7 2.5 Notwithstanding the rights, licenses and Option granted in Articles 2.1, 2.2 and 2.3, Tengion’s right and license is subject to WFUHS’s retained right to make, have made and use WFUHS Licensed Products and practice the WFUHS Patent Rights for WFUHS’s own educational, academic, testing, clinical and research purposes, including the right to collaborate with other academic and non-commercial entities for academic and non-commercial purposes. 2.6 Notwithstanding the rights, licenses and Option granted in Articles 2.1, 2.2 and 2.3, Tengion’s license and Option are subject to WFUHS’s retained rights outside of the Licensed Field. For the removal of doubt, WFUHS’s rights outside the Licensed Field shall not limit Tengion’s rights within the Licensed Field. 2.7 Tengion agrees that any products constituting WFUHS Licensed Products or any products produced through the use of WFUHS Licensed Products will be manufactured substantially in the U.S. to the extent required by 35 U.S.C. Sec. 204, if such statute is applicable. 2.8 Except as expressly provided for in this Agreement, no license or other rights are granted or conferr...
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Grant of License and Option. 2.1 Subject to the terms and conditions set forth in this Agreement, the Company hereby grants to the Licensee and the Licensee hereby accepts from the Company, the right and license (the "License") to use the Names and Marks, including but not limited to the right to manufacture and sell the Products (the "Rights"). The Licensee agrees to diligently exercise the License granted hereunder subject to the terms and conditions of this Agreement. 2.2 The Licensee shall not, without the Company's written consent, use or otherwise employ the Names and Marks except in accordance with the terms and conditions of this Agreement, nor use, otherwise employ or permit the use or employment of any other trade ▇▇▇▇, trade name, service ▇▇▇▇ or commercial symbol in connection with the Products. 2.3 Subject to the terms and conditions of this Agreement, the Company hereby grants to the Licensee the option to purchase the Rights (the "Option"). This Option may be exercised at any time or times during normal business hours prior to the close of business on December 31, 2001, unless the term is extended in writing by mutual agreement of the parties hereto. The Option may be exercised by the Licensee by (a) delivery of a written notice to the Company of the Licensee's election to exercise the Option and (b) (i) payment of the Licensee to the Company of the sum of $300,000 (the "Option Price") in cash or by certified or official bank check or wire transfer of funds or (ii) delivery of a promissory note in the original principal amount of the Option Price and payable in full on or before December 31, 2001. This Agreement shall terminate upon exercise by the Licensee of the Option and satisfaction of the payment terms set forth hereunder in 2.3(i) or 2.3(ii). 2.4 In consideration for the License and Option being granted to the Licensee herein, the Licensee shall, simultaneously with the execution hereof, deliver to the Company a promissory note in the form of Schedule "C" attached hereto (the "Promissory Note"). 2.5 During the term of this Agreement, the Licensee shall pay to the Company royalties of five percent (5%) of Net Sales (hereinafter defined) of ▇▇▇▇▇'▇ beverages, which royalties shall be payable on the last day of the month following the month in which such sales occurred. For purposes hereof, "Net Sales" shall mean the gross invoice price of the ▇▇▇▇▇'▇ beverages, less the total of (a) trade discounts, (b) sales, excise, use and other similar taxes actually paid or de...
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Grant of License and Option. For the Term, and subject to the provisions of this Agreement, KBL hereby grants to Agalimmune: (a) A worldwide, exclusive, non-sublicensable, non-transferable license under the Licensed Patents to Evaluate the use of KODE™ Technology and KODE™ Know-How in the Field (the Evaluation Licence); and (b) An exclusive right to require KBL to grant the Exploitation License to Agalimmune (the Option).
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Grant of License and Option 
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Related to Grant of License and Option

  • Grant of License During the term of this Contract: a. Sourcewell grants to Supplier a royalty-free, worldwide, non-exclusive right and license to use the trademark(s) provided to Supplier by Sourcewell in advertising and promotional materials for the purpose of marketing Sourcewell’s relationship with Supplier. b. Supplier grants to Sourcewell a royalty-free, worldwide, non-exclusive right and license to use Supplier’s trademarks in advertising and promotional materials for the purpose of marketing Supplier’s relationship with Sourcewell.

  • Grant of Licenses 9.1. We grant to you a non-exclusive, non-transferable, revocable right to (i) access our site through HTML links solely in accordance with the terms of this Agreement and (ii) solely in connection with such links, to use our logos, trade names, trademarks, and similar identifying material (collectively, the "Licensed Materials") that we provide to you or authorize for such purpose. You are only entitled to use the Licensed Materials to the extent that you are a member in good standing of the Program. You agree that all uses of the Licensed Materials will be on behalf of Vantage ▇▇▇▇▇▇.▇▇▇ and the good will associated therewith will insure to the sole benefit of Vantage Circle. 9.2. Each party agrees not to use the other's proprietary materials in any manner that is disparaging, misleading, obscene or that otherwise portrays the party in a negative light. Each party reserves all of its respective rights in the proprietary materials covered by this license. Other than the license granted in this Agreement, each party retains all right, title, and interest to its respective rights and no right, title, or interest is transferred to the other.

  • GRANT OF LICENSE AND LIMITATIONS License to Use the Licensed Software. In accordance with the terms and conditions hereof, the Licensor agrees to grant to Bianfeng Networking a license to install and operate the Licensed Software on the Designated Computers and to grant to its customers the right to use such software system.

  • Grant of Licence 2.1 ▇▇▇▇▇, subject to the Licensee complying with the terms of the Agreement, grants the Licensee a Licence to Perform, or permit to be performed, any of the Works of Music for the time being in ▇▇▇▇▇’s Repertoire, at the Premises. 2.2 The Licence is a ‘blanket licence’. The Licensee is therefore entitled to, at the Premises and during the period that the Agreement is in force, perform any of the Works of Music in ▇▇▇▇▇’s Repertoire. The licence fee is payable irrespective of whether the Licensee elects to Perform ▇▇▇▇▇’s Repertoire or not.

  • ▇▇▇▇▇ of License Georgia Institute of Technology shall grant the Student a limited, nonexclusive, nontransferable and revocable license to use and occupy an assigned space in a Georgia Institute of Technology facility in accordance with the terms and conditions of this Contract (the “License”). The parties to this Contract do not intend that an estate, a tenancy, or any other interest in property should pass from Georgia Institute of Technology to Student. Instead, it is the intention of the parties that the relationship between Georgia Institute of Technology and Student be that of licensor and licensee and the sole right of Student to use the assigned space as a living unit shall be based upon the License granted in this Contract.