Common use of Reversion Election Clause in Contracts

Reversion Election. If ▇▇▇▇▇▇▇ terminates this Agreement under Section 10.3, or if Licensor terminates this Agreement under Section 10.2 or 10.4, Licensor may elect to continue Exploiting Reversion-Eligible Product(s) by giving written notice to ▇▇▇▇▇▇▇ within [***] days after the Termination Notice Date. The notice will indicate the Reversion-Eligible Products for which Licensor is exercising its election. ▇▇▇▇▇▇▇ shall, within [***] Business Days of Licensor’s request, provide Licensor with a listing and brief identifying description of each Reversion- Eligible Product to enable Licensor to make its selection. If Licensor delivers a timely notice, the following provisions of this Section 10.5.2 will apply on and after the Termination Effective Date to each Reversion-Eligible Product indicated in such notice (each, a “Reverted Product”).

Reversion Election. If ▇▇▇▇▇▇▇ terminates this Agreement under Section 10.3, or if Licensor terminates this Agreement under Section 10.2 or 10.4, Licensor may elect to continue Exploiting Reversion-Eligible Product(s) by giving written notice to ▇▇▇▇▇▇▇ within [***] days after the Termination Notice Date. The notice will indicate the Reversion-Eligible Products for which Licensor is exercising its election. ▇▇▇▇▇▇▇ shall, within [***] Business Days of Licensor’s request, provide Licensor with a listing and brief identifying description of each Reversion- Eligible Product to enable Licensor to make its selection. If Licensor delivers a timely notice, the following provisions of this Section 10.5.2 will apply on and after the Termination Effective Date to each Reversion-Eligible Product indicated in such notice (each, a “Reverted Product”).