Common use of Covenant of Licensor Clause in Contracts

Covenant of Licensor. Each Licensor shall not grant any exclusive license or sublicense to any Person with respect to any Licensed IP in any manner that narrows the non-exclusive licenses granted to the Licensees pursuant to Section 2.01 and Section 2.02. If Licensor transfers or assigns any Owned IP to any third Person, such Person must assume, in writing, such Licensor’s obligations (in its capacity as a Licensor) under this Agreement; provided, however, that, subject to Section 9.03, in no event shall any such transfer or assignment constitute a transfer or assignment to such third Person of any rights as a Licensee under this Agreement. Nevertheless, even absent such written assumption, such Owned IP shall automatically be deemed to be subject to the license granted pursuant to Section 2.01 and such license shall nevertheless continue for the term defined in this Agreement (and shall remain subject to the applicable restrictions and limitations set forth in this Agreement). Any purported license, sublicense, transfer or assignment in violation of this Section 3.02 shall be null and void ab initio and of no force and effect.