Preservation of License in Bankruptcy Sample Clauses
The Preservation of License in Bankruptcy clause ensures that a licensee retains the right to use licensed intellectual property even if the licensor files for bankruptcy. In practice, this clause typically stipulates that the license remains valid and enforceable, preventing the licensor or bankruptcy trustee from revoking the license solely due to bankruptcy proceedings. This provision is crucial for licensees who rely on the continued use of the licensed technology or content, as it protects their business operations from disruption in the event of the licensor's insolvency.
Preservation of License in Bankruptcy. (a) If Licensor should file a petition under the bankruptcy laws or any debtor protection laws, or if any involuntary petition shall be filed against. Licensor, Licensee shall be protected in the continued enjoyment of its, rights as licensee hereunder to the maximum feasible extent including, without limitation, if Licensee so elects, the protection conferred upon licensees under Section 365(n) of Title 11 of the U.S. Code, or any similar provision of any applicable law. Licensor shall give Licensee reasonable prior notice of the filing of any voluntary petition, and prompt notice of the filing of any involuntary petition, under any bankruptcy laws or debtor protection laws.
(b) If Licensee should file a petition under the bankruptcy laws or any debtor protection laws, or if any involuntary petition shall be filled against Licensee, Licensor may consider such action a breach and may terminate Licensee’s interest in the License Agreement if Licensor so chooses.
(c) If Licensee should permanently cease to conduct business operations, Licensor may consider such action a breach and may terminate Licensee’s interest in the License Agreement if Licensor so chooses
(d) The Patents as well as the License granted herein shall be deemed to be “intellectual property” as that term is defined in Section 101(56) of Tile 11 of the U.S. Code or any successor provision.
Preservation of License in Bankruptcy. (a) If either party should file a petition under bankruptcy laws, or if any involuntary petition shall be filed against such party, Medtronic shall be protected in the continued enjoyment of its rights as licensee hereunder to the maximum feasible extent including, without limitation, if it so elects, the protection conferred upon licensees under Section 365(n) of Title 11 of the U.S. Code, or any similar provision of any applicable law. [Newco] shall give Medtronic reasonable prior notice of the filing of any voluntary petition, and prompt notice of the filing of any involuntary petition, under any bankruptcy laws.
(b) The Assigned Intellectual Property as well as the license granted herein shall be deemed to be “intellectual property” as that term is defined in 11 U.S.C. Section 101(56) or any successor provision.
Preservation of License in Bankruptcy. (a) If Licensor should file a petition under the bankruptcy laws or any debtor protection laws, or if any involuntary petition shall be filed against. Licensor, Licensee shall be protected in the continued enjoyment of its, rights as licensee hereunder to the maximum feasible extent including, without limitation, if Licensee so elects, the protection conferred upon licensees under Section 365(n) of Title 11 of the U.S. Code, or any similar provision of any applicable law. Licensor shall give ASPIS reasonable prior notice of the filing of any voluntary petition, and prompt notice of the filing of any involuntary petition, under any bankruptcy laws or debtor protection laws.
(b) Any Patents as well as the License granted herein shall be deemed to be “intellectual property” as that term is defined in Section 101(56) of Tile 11 of the U.S. Code or any successor provision.