Common use of Consent to License Agreement Clause in Contracts

Consent to License Agreement. The Secured Parties covenant and agree with the Grantor that in the event that the Secured Parties exercise their rights hereunder and the Collateral is sold to a third party, the Secured Parties shall use commercially reasonable efforts to (i) ensure that such third party purchaser of any of the Collateral licensed under the License Agreement agrees to be bound by the terms and conditions thereof, until the expiration or termination thereof, and (ii) ensure that such third-party purchaser shall agree to use commercially reasonable efforts to ensure that all subsequent transferees of any of the Collateral licensed under the License Agreement shall agree to be bound by the terms and conditions of the License Agreement, until the expiration or termination thereof.

Consent to License Agreement. The Secured Parties covenant covenants and agree agrees with the Grantor that in the event that the Secured Parties exercise their exercises its rights hereunder and the Collateral is sold to a third party, the Secured Parties shall use commercially reasonable efforts to (i) ensure that such third party purchaser of any of the Collateral licensed under the License Agreement agrees to be bound by the terms and conditions thereof, until the expiration or termination thereof, and (ii) ensure that such third-party purchaser shall agree to use commercially reasonable efforts to ensure that all subsequent transferees of any of the Collateral licensed under the License Agreement shall agree to be bound by the terms and conditions of the License Agreement, until the expiration or termination thereof.