Licence to use Patent by Shiva.

Licence to use  Patent

THE LICENCE made on the . . . . . . . .day of . . . . . . . , 20 . . . . . . BETWEEN A.B. etc. (hereinafter called ‘‘the Patentee’’) of the one part AND C.D. etc. (hereinafter called ‘‘the Licensee’’) of the other part.

WHEREAS

1. In consideration of the royalties hereinafter reserved the Patentee hereby grants to the Licensee full (or, full and exclusive) licence and authority to make use, exercise and vend . . . . . . . . under and in accordance with the specification of the Patent No. . . . . . . . . of . . . . . . . . within the State of . . . . . . . . for the term of . . . . . . . . years from the date hereof.

2. The parties hereto hereby agree as follows:

(1) The Licensee shall on the first day of each quarter of the year pay to the Patentee a royalty of Rs . . . . . . . . for every . . . . . . . manufactured hereunder and sold during the preceding quarter;

(2) The Licensee shall on the first day of each quarter of the year render to the Patentee a true and full account of the number of . . . . . . . . manufactured and sold hereunder during the preceding quarter;

(3) The Patentee shall not during the subsistence of this licence make use, exercise or vend or permit or authorize any person or persons other than the licensee to make use, exercise or vend . . . . . . . under the said patent within the limits aforesaid;

(4) If the Licensee shall commit a breach of his covenant in Clause 1 or shall become insolvent or commit an act of  insolvency the Patentee may by notice in writing determine this licence and thereupon this licence shall forthwith cease and determine;

(5) If the Patentee shall not within . . . . . . . . weeks of receipt of notice to that effect take all such legal proceedings as may be necessary to prevent infringement of the said patent in the State of. . . . . . . .the Licensee may at his own cost and expense take such proceedings in the name of the Patentee (or the Licensee shall be relieved from all further obligations to pay royalties hereunder);

(6) All royalties shall cease if the Patentee fails to maintain the said patent or if the said  patent is declared by a competent  court to be void;

(7) This licence is non-exclusive and non-assignable.

IN WITNESS WHEREOF etc.

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