Common use of SUBLICENSING AND ASSIGNMENT Clause in Contracts

SUBLICENSING AND ASSIGNMENT. The license to use Said Patents conferred to Licensee and its Affiliates in Section 1 above is not assignable or otherwise transferrable, whether voluntarily, involuntarily, by operation of law, or otherwise (other than exhaustion or the first sale doctrines or other similar rights conferred on third parties), by Licensee to any third parties (other than Licensee’s Affiliates), and does not include the right to sublicense Said Patents to any third parties (other than Licensee’s Affiliates) without the consent of Licensor, which consent Licensor shall not unreasonably withhold, condition, or delay. For purposes of this License Agreement, an assignment shall include (i) the sale or transfer of substantially all of the assets of Licensee; (ii) the sale or transfer of a majority or controlling interest in Licensee; or (iii) the statutory merger or consolidation of Licensee into another entity.