Performing Party definition
Examples of Performing Party in a sentence
To the extent Inventions cannot be assigned to IMA in accordance with this Article 5, the Performing Party hereby grants to the Recipient Party an exclusive perpetual, irrevocable, transferable, royalty-free, fully paid-up, worldwide license, with the right to grant sublicenses (through multiple tiers), under such Inventions for any and all purposes.
The Performing Party hereby perpetually and irrevocably assigns, and to the extent it cannot presently assign, agrees to assign and shall use reasonable efforts to obtain the right to assign, to the Recipient Party all of the Performing Party’s worldwide right, title and interest in and to such Inventions.
Except as expressly set forth in this Agreement, nothing in this Agreement, nor the delivery of any information or materials to the Performing Party by the Recipient Party (or any third party acting on its behalf) in connection with the Performing Party’s performance of Services under this Agreement shall be deemed to grant to either Party any right or license under any patents, patent applications, know-how, technology, inventions or other intellectual property of the other Party.
Either Party shall notify the other Party promptly if such Party becomes aware of any circumstances that adversely impact or are likely to adversely impact such Party’s performance of its respective Services or the other Party’s receipt of such Services; provided that, nothing in this Section 4.1(a) shall limit or relieve the Performing Party from its obligation to provide any and all of the Services required hereunder.
The Performing Party shall be compensated for all of its reasonable out-of-pocket costs and expenses associated with such requested assistance.