Common use of Small Entity Status Clause in Contracts

Small Entity Status. LICENSEE represents that LICENSEE and all of its SUBLICENSEES will, throughout the term of this Agreement, qualify as a “Small Entity” under U.S. patent laws. LICENSEE will notify ARIZONA immediately of any changes that may affect LICENSEE’S or SUBLICENSEE’S “Small Entity” status including, without limitation, acquisitions, mergers, hiring of more than 500 total employees, sublicense agreements and sublicense options.