Common use of Licence of Sponsor's Intellectual Property to Us Clause in Contracts

Licence of Sponsor's Intellectual Property to Us. The Sponsor grants to Us a world-wide, non-exclusive, non-transferrable (except in the case of permitted assignment or novation of this Agreement) licence to use its Intellectual Property for the sole purposes of providing the Sponsorship Benefits and otherwise performing Our obligations and exercising Our rights under this Agreement. The Sponsor warrants that the use of its Intellectual Property, as permitted under this Agreement, will not infringe the Intellectual Property rights of any third party