Common use of Right to Intellectual Property Clause in Contracts

Right to Intellectual Property. The Parties agree that all rights and licenses granted under or pursuant to Section 5.1 and Section 5.2 of this Agreement are, and shall be deemed to be, for purposes of Section 365(n) of the United States Bankruptcy Code, as such section may be amended, licenses to rights to "intellectual property" as defined in the Bankruptcy Code. The Parties agree that Lilly, as licensee of such rights, shall retain and may exercise all of its rights and elections under the Bankruptcy Code, including, without limitation, Section 365(n).

Right to Intellectual Property. The Parties agree that all rights and licenses granted under or pursuant to Section 5.1 Articles XI and Section 5.2 XXIII of this Agreement are, and shall be deemed to be, for purposes of Section 365(n) of the United States Bankruptcy Code, as such section may be amended, licenses to rights to "intellectual property" as defined in the Bankruptcy Code. The Parties agree that Lilly, as licensee of such rights, shall retain and may exercise all of its rights and elections under the Bankruptcy Code, including, without limitation, Section 365(n).