Common use of Intellectual Property Licences Clause in Contracts

Intellectual Property Licences. (a) In respect of any licences of Intellectual Property to or by the Company or any of its Restricted Subsidiaries: (i) each licence is in full force and effect and binding on the parties to it; and (ii) the terms of the licences have been complied with by the parties, no disputes have arisen and no notice of termination has been received or served by the Company or relevant Restricted Subsidiaries and there are no grounds on which they might be terminated, (b) where failure to have a valid and binding licence or to comply with the terms of the licence, or where a dispute or service or receipt of a notice of termination, as set out in sub-paragraphs (a)(i) and (a)(ii) above, has or is reasonably likely to have a Material Adverse Effect.