Sunday, February 11, 2024 12:17:05 PM
How should it be interpreted?
Under the Medtronic APLA, while Titan sold certain of its IP to Medtronic, Titan received a limited license back to the Acquired Rights consistent with the rights retained by Titan for the exclusively licensed IP under the Medtronic Agreements to commercialize the licensed technologies in single access RAS, including with the Enos System and enhancements thereof, should the Company choose to do so. Under the Medtronic APLA Titan may assign its IP rights thereunder in connection with the sale of all or substantially all of the assets of Titan or in connection with a "change of control" (as such term is defined therein). Titan retains ownership of the Licensed IP, along with the associated rights including the right to continue to develop and commercialize the technologies covered by the Licensed IP and the right to further license the Licensed IP to other third parties. Under the Intuitive License Agreement, Titan retains ownership of the licensed IP, along with the associated rights including the right to continue to develop and commercialize the technologies covered by the licensed IP and the right to license the IP to other third parties.
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