What happens if a licensor or licensee breaches an executory term in an IP license?

Oct 1, 2012 ... Under the Bankruptcy Code, debtors and bankruptcy trustees are authorized to assume or reject executory contracts (and unexpired leases) in ... Sep 30, 2024 ... An executory contract is defined as a contract where both parties have ongoing obligations to perform under its terms. The legal definition ... Executory Contracts Generally. • Licenses under U.S. Bankruptcy Law. • Assumption of Licenses. • Assignment of Licenses. • Rejection of Licenses. • Managing a ... Dec 14, 2022 ... I. INTRODUCTION. Executory contracts are one of the most complicated and consequent- ial areas of bankruptcy law.1 Despite the importance of ... adjective · executive. · Law. to be performed or executed. Discover More. Word History and Origins. Origin of executory. 1400–50; late Middle English executorie ... May 2, 2023 ... A streamlined judicial process known as executory process foreclosure, allowing a creditor to get to a sale of the property within 75-120 days of filing the ... McGillin's executed a Supply Contract, whereby. Baines will be the exclusive supplier of Mozzy's to all McGillin's locations. Through the Supply Contract, ... An executory contract is an ongoing agreement between two parties who are responsible for completing certain obligations over a set period of time. They are ... An executory interest is going to cut short the previous estate before it would have ended naturally. The condition that cuts short the estate is a condition ... Mar 25, 2024 ... An executed contract is the final product of a legally binding, enforceable agreement between parties. This contract “can be in the form of a ...