Performance Commitment. Assignee agrees that in the event that it does not execute patent licenses (with a total aggregate value of no less than ($250,000) or file and serve litigation complaints against at least 10 unrelated entities within 18 months after the transfer of The Patent Portfolio to Assignee, the Assignee shall transfer the Patent Portfolio back to Assignor at the Assignor's request. In the event of such transfer back to Assignor, Assignee shall not be entitled to recover any monies, including but not limited to any fronting or advance of Compensable Costs, and shall waive any claim it may have against Seller, its directors or members.
Appears in 2 contracts
Sources: Patent Purchase Agreement, Intellectual Property Purchase and Assignment Agreement (Quest Patent Research Corp)