Bankruptcy Code 365(n) Sample Clauses
Bankruptcy Code 365(n) is a provision in U.S. bankruptcy law that protects the rights of licensees to continue using intellectual property if the licensor files for bankruptcy and rejects the license agreement. Under this clause, a licensee can elect to retain its rights to the licensed intellectual property, such as patents or copyrights, even if the bankrupt licensor seeks to terminate the agreement. This ensures that licensees are not left without access to critical technology or content, thereby providing stability and predictability for businesses that rely on licensed intellectual property.
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Bankruptcy Code 365(n). All rights and licenses granted under or pursuant to this Agreement or any SOW by Intellisync to Verizon Wireless are, and shall otherwise be deemed to be, for the purposes of Section 365(n) of the United States Bankruptcy Code (“Code”), licenses to rights to “intellectual property” as defined in the Code. The Parties agree that Verizon Wireless, as licensee of such rights under this Agreement, shall retain and may fully exercise all of its rights and elections under the Code. The Parties further agree that, in the event of a bankruptcy proceeding by or against Intellisync under the Code, Verizon Wireless shall be entitled to retain all of its rights (including all licenses) under this Agreement and/or any SOW. Time is of the essence. In the event of filing a petition for relief under the Code, Intellisync shall assume or reject the Agreement within thirty (30) days.
Bankruptcy Code 365(n). The Parties acknowledge and agree that this Agreement is a license of rights to “intellectual property” as defined under Section 101(56) of the United States Bankruptcy Code. Except as expressly permitted by this Agreement, this Agreement cannot be assumed and assigned by a trustee or debtor-in-possession in bankruptcy as set forth in Section 365(c)(1) of the United States Bankruptcy Code, or any similar provisions of state or federal law.
Bankruptcy Code 365(n). The Parties acknowledge and agree that this License Agreement is for the purposes of Section 365(n) of the United States Bankruptcy Code a license of rights to “intellectual property” as defined under Section 101(56) of the U.S. Bankruptcy Code. Except as expressly permitted by this License Agreement, this License Agreement cannot be assumed or assumed and assigned by a trustee or debtor-in-possession in bankruptcy of HIGHWATER as set forth in Section 365(c)(1) of the United States Bankruptcy Code or any similar provisions of state or federal law, provided the party assuming or the party to whom such is assigned is not a Competitor as defined in the Agreements and executes an Agreement confirming that it is bound to all the terms and provisions of the Agreements by and between Highwater and Butamax.
Bankruptcy Code 365(n). The Parties acknowledge and agree that this Agreement is a license of rights to “intellectual property” as defined under Section 101(56) of the United States Bankruptcy Code. Except as expressly permitted by this Agreement, this Agreement cannot be assumed and assigned by a trustee or debtor-in-possession in bankruptcy as set forth in Section 365(c)(1) of the United States Bankruptcy Code, or any similar provisions of state or federal law. [***] indicates material that has been omitted pursuant to a request for confidential treatment. The omitted material has been filed separately with the Securities and Exchange Commission.
Bankruptcy Code 365(n). The Parties acknowledge that the Accelr8 Intellectual Property is “intellectual property” for purposes of Section 365(n) of the U.S. Bankruptcy Code and that Licensee will have the right to exercise all rights provided by Section 365(n) with respect to the Accelr8 Intellectual Property. In the event of a filing of bankruptcy by or against either Party, such Party is required to expeditiously decide to accept or reject a license within a reasonable time and not oppose a motion by the other Party to compel assumption or rejection of the license. In the event that Accelr8 materially breaches its transfer of technology obligations to Nanosphere as set forth in §2.02 under this Agreement, Nanosphere shall have the right to require the transfer by Accelr8 (or in the event of a filing of bankruptcy by or against Accelr8, by the trustee) to Nanosphere of all information and materials in deficiency and required to complete the transfer of technology (including all embodiments thereof) as set forth in §2.02.