TIME AND COMPENSATION. The Licensor grants this license to Licensee with the understanding that within 45 days of the end of the License Period, Licensor and Licensee shall enter into good faith negotiations to determine the compensation due for the next License Period. If good faith negotiation and payment are not completed within 15 days of the end of the License Period, Licensor may consider this License Agreement to have terminated automatically. The good faith negotiation of compensation under this agreement must be commemorated in a separate writing agreed to by both parties.
Appears in 3 contracts
Sources: Software License Agreement, Software License Agreement, Software License Agreement