Common use of Continuity after Customer Transfer of Rights Clause in Contracts

Continuity after Customer Transfer of Rights. 1) In the event of the insolvency, reorganization, liquidation or some other action impacting Customer or one of its Affiliates, as provided by applicable law or regulation for the financial industry (e.g., “too big to fail”, “recovery and resolution”, “special administration”, and similar regulations and actions), and to the extent required to maintain continuity of Microsoft’s provision of the Online Services purchased by Customer under the Agreement, Microsoft will consent to Customer assigning, sublicensing or transferring its rights under the Agreement to (A) one or more of its Affiliates, or (B) a third party that purchases or otherwise succeeds to any or all of the business or assets or equity of Customer. In each case, the entity to which rights are transferred is the “Transferee,” and Transferee will have access to Customer Data through Microsoft’s standard processes and tools.

Continuity after Customer Transfer of Rights. 1) In the event of the insolvency, reorganization, liquidation or some other action impacting Customer or one of its AffiliatesCustomer, as provided by applicable law or regulation for the financial industry (e.g., “too big to fail”, “recovery and resolution”, “special administration”, and similar regulations and actions), and to the extent required to maintain continuity of Microsoft’s provision of the Online Services purchased by Customer under the Agreement, and if required, Microsoft will consent to Customer assigning, sublicensing or transferring its rights under the Agreement to (A) one or more of its Affiliates, or (B) a third party that purchases or otherwise succeeds to any or all of the business or assets or equity of Customer. In each case, the entity to which rights are transferred is the “Transferee,” and Transferee will have access to Customer Data through Microsoft’s standard processes and tools.

Continuity after Customer Transfer of Rights. 1) In the event of the insolvency, reorganization, liquidation or some other action impacting Customer or one of its AffiliatesCustomer, as provided by applicable law or regulation for the financial industry (e.g., “too big to fail”, “recovery and resolution”, “special administration”, and similar regulations and actions), and to the extent required to maintain continuity of Microsoft’s provision of the Online Services purchased by Customer under the Agreement, Microsoft will consent to Customer assigning, sublicensing or transferring its rights under the Agreement to (A) one or more of its Affiliates, or (B) a third party that purchases or otherwise succeeds to any or all of the business or assets or equity of Customer. In each case, the entity to which rights are transferred is the “Transferee,” and Transferee will have access to Customer Data through Microsoft’s standard processes and tools.