Common use of Deemed Grant of Rights Clause in Contracts

Deemed Grant of Rights. In the event of any insolvency of Licensor and if any statute and/or regulation in any country in the Territory requires that there be a specific grant or specific clause(s) in order for SPL to obtain the rights and benefits as licensee under this Agreement which are analogous to those rights under Section 365(n) of Title 11 of the United States Code, then this Agreement shall be deemed to include any and all such required grant(s), clause(s) and/or requirements.

Deemed Grant of Rights. In the event of any insolvency of Licensor and if any statute and/or regulation in any country in the Territory requires that there be a specific grant or specific clause(s) in order for SPL Schering to obtain the rights and benefits as licensee under this Agreement which are analogous to those rights under Section 365(n) of Title 11 of the United States Code, then this Agreement shall be deemed to include any and all such required grant(s), clause(s) and/or requirements.

Deemed Grant of Rights. In the event of any insolvency of Licensor ---------------------- Zonagen and if any statute and/or regulation in any country in the Territory requires that there be a specific grant or specific clause(s) in order for SPL SP Ltd. to obtain the rights and benefits as licensee under this Agreement which are analogous to those rights under Section 365(n) of Title 11 of the United States Code, then this Agreement shall be deemed to include any and all such required grant(s), clause(s) and/or requirements.