Option for Assignment and License Sample Clauses

Option for Assignment and License of Proprietary Software and Other Intellectual Property or for Perpetual Licenses. Upon the earliest to occur of the closing with respect to the third tranche of the Option, the closing of the Securitization Exercise, the closing of the Sale Exercise, the closing of the Sale Option and the closing of the Acceleration Exercise (such closing being referred to as the "Conversion Date"), UBS may elect by written notice to the Enron Parties either (a) to have the parties execute the Assignment and License Agreement in substantially the form attached hereto as Exhibit 6.2 or (b) to have the non-exclusive licenses granted to UBS and the UBS Affiliates under Sections 1.1(a) and 16.1(a)(i) and the exclusive licenses granted to UBS and the UBS Affiliates under Sections 1.2(a) and 16.1(a)(iii) become perpetual.