Common use of LICENSING OPTION Clause in Contracts

LICENSING OPTION. In the event that the Application for the University Invention is filed in any jurisdiction, the Partner has the exclusive option to elect from the following licenses by notifying in writing to the University within the Option Period. The University and the Partner shall enter into the license agreement after the discussion of the commercially reasonable terms and conditions within three (3) months after exercise of the option. a non-exclusive, non-transferable, royalty-bearing license without the right to sub-license (in a designated field of implementation), the Partner to implement the University Intellectual Property Rights for the University Invention in Japan and/or any other countries elected by the Partner, provided that the Partner agrees to (i) demonstrate reasonable efforts to commercialize the University Invention in the public interest and (ii) pay all prosecution and maintenance costs in all countries, including Japan, in which the Partner is granted a non-exclusive license right under this paragraph; or an exclusive, non-transferable, royalty-bearing license with the right to sub-license (in a designated field of implementation), the Partner to implement the University Intellectual Property Rights for the University Invention in Japan and/or any other countries elected by the Partner; provided that the Partner agrees to (i) demonstrate reasonable efforts to commercialize the University Invention in the public interest and (ii) pay all prosecution and maintenance costs in all countries, including Japan, in which the Partner is granted an exclusive license right under this paragraph .

LICENSING OPTION. In the event that the Application for the University Institute Invention is filed in any jurisdiction, the Partner has the exclusive option to elect from the following licenses by notifying in writing to the University Institute within the Option Period. The University Institute and the Partner shall enter into the license agreement after the discussion of the commercially reasonable terms and conditions within three (3) months after exercise of the option. . A. a non-exclusive, non-transferable, royalty-bearing license without the right to sub-license (in a designated field of implementation), the Partner to implement the University Institute Intellectual Property Rights for the University Institute Invention in Japan and/or any other countries elected by the Partner, provided that the Partner agrees to (i) demonstrate reasonable efforts to commercialize the University Institute Invention in the public interest and (ii) pay all prosecution and maintenance costs in all countries, including Japan, in which the Partner is granted a non-exclusive license right under this paragraph; or B. an exclusive, non-transferable, royalty-bearing license with the right to sub-license (in a designated field of implementation), the Partner to implement the University Institute Intellectual Property Rights for the University Institute Invention in Japan and/or any other countries elected by the Partner; provided that the Partner agrees to (i) demonstrate reasonable efforts to commercialize the University Institute Invention in the public interest and (ii) pay all prosecution and maintenance costs in all countries, including Japan, in which the Partner is granted an exclusive license right under this paragraph .

LICENSING OPTION. In the event that the Application for the University Invention is filed in any jurisdiction, the Partner has the exclusive option to elect from the following licenses by notifying in writing to the University within the Option Period. The University and the Partner shall enter into the license agreement after the discussion of the commercially reasonable terms and conditions within three (3) months after exercise of the option. . A. a non-exclusive, non-transferable, royalty-bearing license without the right to sub-license (in a designated field of implementation), the Partner to implement the University Intellectual Property Rights for the University Invention in Japan and/or any other countries elected by the Partner, provided that the Partner agrees to (i) demonstrate reasonable efforts to commercialize the University Invention in the public interest and (ii) pay all prosecution and maintenance costs in all countries, including Japan, in which the Partner is granted a non-exclusive license right under this paragraph; or B. an exclusive, non-transferable, royalty-bearing license with the right to sub-license (in a designated field of implementation), the Partner to implement the University Intellectual Property Rights for the University Invention in Japan and/or any other countries elected by the Partner; provided that the Partner agrees to (i) demonstrate reasonable efforts to commercialize the University Invention in the public interest and (ii) pay all prosecution and maintenance costs in all countries, including Japan, in which the Partner is granted an exclusive license right under this paragraph .