Seller Technology Clause Samples

Seller Technology. Seller will own all Seller Technology. Seller grants to Buyer an irrevocable, royalty free, non-exclusive, worldwide, perpetual, license, with the right to grant sublicenses, to use Seller Technology (“License”) to (a) resell Products or incorporate Products purchased from Seller into goods and to sell the same, and (b) produce, use, sell and to obtain, from alternate sources, products similar to the Products (including related systems and components), provided that Buyer may use the License under this subsection (b) only (i) upon termination of the Agreement by Buyer for cause or due to a Force Majeure (as permitted by the Agreement), in which case the License will be royalty-free and fully-paid, or (ii) if after good-faith consultation with Seller, Buyer deems the use of the License reasonably necessary to prevent the interruption or delay of Buyer’s or its customers’ manufacturing operations, in which case the License will only be utilized for period(s) deemed reasonably necessary by ▇▇▇▇▇ for such purpose and provided that Buyer pays to Seller a reasonable royalty to be negotiated by ▇▇▇▇▇▇ and Buyer in good faith.