Common use of Grant of License to Use Technology Collateral Clause in Contracts

Grant of License to Use Technology Collateral. For the purpose of enabling Secured Party to exercise rights and remedies under Section 6 hereof at such time as Secured Party, without regard to this Section 7, shall be lawfully entitled to exercise such rights and remedies, CNSI hereby grants to Secured Party an irrevocable, exclusive license in the Field (exercisable without payment of royalty or other compensation to CNSI) to use, license or sublicense any Technology Collateral, and wherever the same may be located, and including, without limitation, in such license reasonable access to all media in which any of the licenses items may be recorded or stored and to all computer and automatic machinery software and programs used for the compilation or printout thereof.