milestone / Re: lambertslunatics / Re: Spinning? I see none by greeneyes111
posted on
Apr 09, 2010 06:16PM
EXACTLY! You have "spun" PTSC's efforts "to provide for the resumption of productive license activity" into TPL "ceasing" to diligently pursue the commercialization of the MMP.
Please elaborate on which of the following they have "ceased" to do. TIA:
COMMERCIALIZATION
.1 TPL shall exert reasonable best efforts to implement the activities
(the "Commercialization") described at Schedule 2 and to conduct the project
described therein ("Project") in accordance with the project description (the
"Project Description") including the Business Plan then in effect.
(a) The first Business Plan is made a part of the Project Description as
Attachment I to Schedule 2, and shall remain in full force and effect until
replaced by agreement of P-Newco and TPL.
(b) TPL shall have no obligation to pursue or fund any effort to
prosecute, maintain, enforce or defend any element of the MSD Patents other than
as specifically provided for in Schedule 2.
.2 By these presents, P-Newco appoints, authorizes, and directs TPL to
take any and all action for the term of this Commercialization Agreement, with
respect to all matters that are related to P-Newco's rights to the MSD Patents,
including without limitation:
(a) entering into settlement and/or license agreements related to the MSD
Patents which meet the Commercialization guidelines set forth in Section II of
Schedule 2;
(b) with the prior written consent of the P-Newco Management Committee,
entering into any settlement and license agreements related to the MSD Patents
which do not meet the guidelines set forth in Section II of Schedule 2;
(c) to sue in the name of TPL, Moore, Patriot and/or P-Newco and to pursue
for the use and benefit of the parties hereto as their respective interests
appear: (i) all remedies of whatsoever kind or nature with respect to the
protection, use, and enforcement of the MSD Patents; (ii) the collection of all
claims for damages, profits, and awards relating to the past, present, or future
use or ownership of the MSD Patents; and (iii) all equitable relief available in
connection therewith; and
(d) to otherwise manage and control by license, sublicense, or other
agreement the practice and/or use of the MSD Patents by third parties.
2.3.TPL may utilize the services of its various licensing personnel who
may be lawyers to implement the Commercialization of the MSD Patents. Such
services shall for no purpose be deemed to be legal services or to give rise to
a lawyer-client relationship between TPL and/or TPL affiliates or
Representatives on the one hand, and P-Newco and/or Patriot or any of their
respective affiliates or Representatives on the other hand. Without limiting the
foregoing, neither TPL nor any TPL Representative shall for any purpose be
deemed to have:
(i) Provided legal services or advice to;
(ii) Undertaken the representation of; or
(iii) Entered into a lawyer-client relationship with,
P-Newco, Patriot or any of P-Newco's or Patriot's respective affiliates or
Representatives.