From Commercialization Agreement:
http://www.secinfo.com/d12TC3.zyHk.c.htm
WHEREAS, Patriot, TPL and Moore have entered into the Master Agreement, pursuant to which Patriot and TPL are entering into licenses with P-Newco and T-Newco, respectively, with respect to certain of their rights in the MSD Patents (collectively, the "Newco Licenses");
WHEREAS, Patriot, TPL, P-Newco and T-Newco have entered into a MergeAgreement, pursuant to which T-Newco merged with and into P-Newco, with P-Newco continuing as the surviving entity and holding all of the rights with respect to the MSD Patents formerly held by P-Newco and T-Newco;
WHEREAS, pursuant to the Master Agreement, P-Newco, Patriot and TPL are entering into this Commercialization Agreement providing for the commercialization of P-Newco's interests in the MSD Patents by TPL in return for the commitment of TPL to diligently pursue the commercialization; and
WHEREAS, concurrently herewith Patriot and TPL are entering into that certain Limited Liability Company Operating Agreement of P-Newco (the "Operating Agreement"), governing the rights and obligations of Patriot and TPL with respect to their membership interests in P-Newco and the distribution of the proceeds received from the commercialization program contemplated by this Commercialization Agreement.
I read this as PTSC, thru PDS, agrees to & grants TPL the priviledge to pursue and grant licenses.. PDS is like a Master Distributorship in merchandise (licensing).. and is granting TPL the..
right to grant licenses and sub-licenses of the Microprocessor Patents and to pursue claims against violators
I do not read this as PDS is the owner of the MMP patents..
but thru this agreement between TPL/Moore & PTSC,
PDS has granted TPL the privledge to pursue and license
jmo.. correction welcomed