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if it sold at least 5,000 Amoco liners in fiscal year 1993. The
agreement further provided:
Podd hereby grants to Powertex, for the full term of
this Agreement and any extension thereof, the sole and
exclusive right and license to manufacture, market and
sell AMOCO STYLE units and any and all other devices,
methods and processes covered by the patents and patent
applications listed in the attached Exhibit A. Said right
and license shall be world-wide in scope and shall include
the right to use and enjoy said patent rights and permit
others to use and enjoy said patent rights, including the
marketing and sale of AMOCO STYLE units for uses outside
of the ocean container industry.
Under the agreement, the Podds also granted a license to
Powertex for the exclusive worldwide right to use the trademark
"POWERLINER" in connection with products covered by the licensed
patents without an additional royalty.
Powertex also agreed to assume financial responsibility to the
extent of $50,000 per year, commencing on June 1, 1988, for costs
incurred by the Podds or Powertex in defending and litigating patent
infringement claims. The agreement provided that it would be
construed and governed by New York Law. The agreement failed to
identify the patents covered. The only reference to specific
patents was contained in the following clause:
(c) Powertex may terminate this Agreement as of the
tenth day following the sending of a notice of such
termination to Podd if any court of competent jurisdiction
of last resort shall render a final adjudication holding
that the AMOCO STYLE United Stated [sic] Patents (numbers
4,799,607 and 4,884,722) are invalid.
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