Common use of Expanded License upon Buy Out Clause in Contracts

Expanded License upon Buy Out. Upon buy out of a website, and subject to COMPANY’s receipt of full payment for such buy out, COMPANY grants you a perpetual, fully-paid up license to use, modify, create derivative works of, distribute, and publicly display the applicable website solely for your internal business purposes of marketing and providing information via the website regarding Customer’s business, subject to the terms and restrictions of any third- party licenses applicable to third-party material which may be included in the website delivered.