Common use of Patent Grant Clause in Contracts

Patent Grant. 4.1 From the moment patent 2 is honored in a country and after full payment of license fees, as mentioned in 2.1 and fees mentioned in 4.2, TNO will transfer the ownership of Patent 2 and Know-how to the LICENSEE. This transfer of ownership will be accepted by the LICENSEE. All costs involved will be for the account of the LICENSEE. 4.2 For compensation of the transfer in ownership of the Patents and Know-how, the LICENSEE will pay TNO a one time payment of NLG 1,000,000 (one million Dutch guilders), which has to be paid for subscription in the registers of the Patent Office by bank transfer to account number: ABN-AMRO 511530102 in the name of TNO with notice: Transfer of ownership 98-13: sludge treatment.