Common use of Customer’s Rights in Event of Bankruptcy Clause in Contracts

Customer’s Rights in Event of Bankruptcy. Notwithstanding any other provision of this Agreement to the contrary, in the event that QOMPLX becomes a debtor under the United States Bankruptcy Code (11 U.S.C. §101 et. seq. (the “Bankruptcy Code”)) and rejects this Agreement pursuant to Section 365 of the Bankruptcy Code (a “Bankruptcy Rejection”): (i) Customer shall have all of the rights provided to non- debtor licensees under Section 365(n) of the Bankruptcy Code; and (ii) to the extent any rights of Customer under this Agreement that arise after the expiration or any termination of this Agreement are determined by a bankruptcy court not to be “intellectual property rights” for purposes of Section 365(n), all of such rights shall remain vested in and fully retained by Customer after any Bankruptcy Rejection as though this Agreement were terminated or expired.

Appears in 2 contracts

Samples: License and Services Agreement, License and Services Agreement

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Customer’s Rights in Event of Bankruptcy. Notwithstanding any other provision of this Agreement to the contrary, in the event that QOMPLX Company becomes a debtor under the United States Bankruptcy Code (11 U.S.C. §101 et. seq. (the “Bankruptcy Code”)) and rejects this Agreement pursuant to Section 365 of the Bankruptcy Code (a “Bankruptcy Rejection”): (i) Customer shall have all of the rights provided to non- non-debtor licensees under Section 365(n) of the Bankruptcy Code; and (ii) to the extent any rights of Customer under this Agreement that arise after the expiration or any termination of this Agreement are determined by a bankruptcy court not to be “intellectual property rights” for purposes of Section 365(n), all of such rights shall remain vested in and fully retained by Customer after any Bankruptcy Rejection as though this Agreement were terminated or expired.

Appears in 2 contracts

Samples: License and Services Agreement, License and Services Agreement

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