License Terms and Conditions. All licenses of this Section 2 elected by Company are effective as of the date the parties negotiate and sign a separate license agreement, which will contain indemnity[23], insurance, and no-warranty provisions, in addition to other customary terms and conditions. Company agrees all licenses will be subject to applicable laws and regulations. [24] [25] [23] Many public institutions are required by state law to include terms for indemnity of the institution. Alternative language may exclude indemnity for Institution’s gross negligence or willful misconduct. Institution may agree to indemnify company for damages caused by negligent or intentional acts or omissions of Institution. [24] The term “applicable laws” as found in this university example is vague. It probably refers to jurisdictions where licenses must be filed with the government. [25] Possible addition: In the event that the parties are unable to agree on licensing terms under this §2, the dispute resolution set forth in §11.1 may be invoked by either the Institution or the Company.
Appears in 2 contracts
Sources: Sponsored Research Agreement, Sponsored Research Agreement