Common use of NON-TRANSFERABILITY OF LICENSES Clause in Contracts

NON-TRANSFERABILITY OF LICENSES. 7.1 The license granted by this Agreement can be transferred by the Licensee, but only as part of a transaction by which the Licensee divests itself of all or substantially all of the business of manufacturing and/or selling Licensed Products. In the event of such a transfer, Licensee and its Affiliates shall thereupon cease to be Licensees hereunder, but such termination of licenses shall not affect any obligations to pay royalties which may have accrued prior thereto.

NON-TRANSFERABILITY OF LICENSES. 7.1 The license granted by this Agreement can be transferred by the Licensee, but only as part of a transaction by which the Licensee divests itself of all or substantially all of the business of manufacturing and/or selling Licensed Products. In the event of such a transfer, Licensee and its Affiliates shall thereupon cease to be Licensees hereunder, but such termination of licenses shall not affect any obligations to pay royalties which may have accrued prior thereto.