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Title: |
License Agreement |
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Entities: |
Fleet National Bank; HeavenlyDoor.com, Inc.; Indevus Pharmaceuticals Inc. |
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Date: |
2000 |
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Size: |
Preview shows 9KB of 103KB total |
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Price: |
$42 |
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ID: |
#274174 |
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LICENSE AGREEMENT
by and between
HEAVENLYDOOR.COM, INC.
and
INTERNEURON PHARMACEUTICALS, INC
dated
June 14, 2000
{PAGE}
ARTICLE I DEFINITIONS...................................................1
ARTICLE II LICENSE; SUBLICENSES..........................................5
2.1. License Grant...................................................5
2.2. Improvements by Interneuron.....................................5
2.3. Sublicenses.....................................................5
ARTICLE III DEVELOPMENT AND COMMERCIALIZATION.............................5
3.1. Exchange of Information.........................................5
3.2. Diligence; Development and Commercialization....................6
3.3. Regulatory Matters..............................................6
3.4. Trademark.......................................................6
3.5. Manufacturing...................................................6
3.6. Adverse Events..................................................6
3.7. Third Party Agreements..........................................6
ARTICLE IV CONFIDENTIALITY AND PUBLICITY.................................6
4.1. Non-Disclosure and Non-Use Obligations..........................7
4.2. Permitted Disclosure of Proprietary Information.................7
ARTICLE V PAYMENTS; ROYALTIES AND REPORTS...............................8
5.1. License Fee.....................................................8
5.2. Milestone Payments..............................................8
5.3. Royalties; Royalty Buy-Out Option...............................9
5.4. Royalty Buy-Out Option.........................................11
5.5. Payments from Sublicensee......................................12
5.6. Reports; Payment of Royalty....................................12
5.7. Audits.........................................................13
5.8. Payment Exchange Rate..........................................14
5.9. Tax Withholding................................................14
5.10. Interest on Late Payments......................................14
5.11. Exchange Controls..............................................14
ARTICLE VI REPRESENTATIONS AND WARRANTIES...............................15
6.1. HDCI Representations and Warranties............................15
6.2. Warranty Disclaimer............................................16
6.3. Investment Representations.....................................16
6.4. Interneuron Representations and Warranties.....................17
ARTICLE VII PATENT MATTERS...............................................18
7.1. Filing, Prosecution and Maintenance of Patent Applications
or Patents...................................................18
7.2. Patent Office Proceedings......................................18
7.3. Enforcement and Defense........................................19
7.4. Patent Term Extensions and Supplemental Protection
Certificates.................................................20
ARTICLE VIII TERM AND TERMINATION.........................................20
8.1. Term and Expiration............................................20
8.2. Termination by Notice..........................................20
8.3. Termination....................................................21
8.4. Effect of Expiration or Termination............................22
ARTICLE IX MISCELLANEOUS................................................23
9.1. Force Majeure..................................................23
{PAGE}
9.2. Assignment.....................................................23
9.3. Severability...................................................23
9.4. Notices........................................................23
9.5. Applicable Law.................................................24
9.6. Dispute Resolution.............................................24
9.7. Entire Agreement...............................................24
9.8. Independent Contractors........................................25
9.9. Waiver.........................................................25
9.10. Headings.......................................................25
9.11. Counterparts...................................................25
ii
{PAGE}
LICENSE AGREEMENT
THIS LICENSE AGREEMENT effective as of June 14, 2000 ("Effective Date"),
by and between HEAVENLYDOOR.COM, INC. (formerly Procept, Inc.), a
corporation organized and existing under the laws of the State of Delaware and
having its principal office at 1180 Avenue of the Americas, Suite 1447, New
York, New York 10036 ("HDCI") and INTERNEURON PHARMACEUTICALS, INC., a
corporation organized and existing under the laws of the State of Delaware and
having its principal office at 99 Hayden Avenue, Suite 200, Lexington
Massachusetts 02421 ("Interneuron").
W I T N E S S E T H:
WHEREAS, HDCI is the owner of the Patent Assets and HDCI Know-How, as
defined herein;
WHEREAS, Interneuron desires to obtain exclusive worldwide license rights,
with a right to grant sublicenses, under the Patent Assets and HDCI Know-How,
and HDCI desires to grant such license to Interneuron, upon the terms and
conditions set forth herein;
NOW, THEREFORE, in consideration of the foregoing premises and the mutual
covenants herein contained, and for other good and valuable consideration, the
receipt and sufficiency of which are hereby acknowledged, the Parties hereby
agree as follows:
ARTICLE I
DEFINITIONS
Unless specifically set forth to the contrary herein, the following terms,
where used in the singular or plural, shall have the respective meanings set
forth below:
1.1. "1933 Act" means the Securities Act of 1933, and the rules and regulations
----------
promulgated thereunder, or any successor act, all as the same shall be in
effect at the time.
1.2. "Affiliate" shall mean (i) any corporation or business entity of which
-----------
more than fifty percent (50%) of the securities or other ownership
interests representing the equity, the voting stock or general partnership
interest are owned, controlled or held, directly or indirectly, by a
Party; (ii) any corporation or business entity which, directly or
indirectly, owns, controls or holds more than fifty percent (50%) (or the
maximum ownership interest permitted by law) of the securities or other
ownership interests representing the equity, voting stock or general
partnership interest, of a Party or (iii) any corporation or business
entity of which a Party has the right to acquire, directly or indirectly,
at least fifty percent (50%) of the securities or other ownership
interests representing the equity, voting stock or general partnership
interest thereof.
1.3. "Business Day" means any day that is not a Saturday or a Sunday or a day
--------------
on which the New York Stock Exchange is closed.
1.4. "Calendar Quarter" shall mean the respective periods of three (3)
------------------
consecutive calendar months ending on March 31, June 30, September 30 and
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