Common use of Third-Party Relationships Clause in Contracts

Third-Party Relationships. a. Licensee shall not assign, transfer, grant a security interest in the Licensed Products, or otherwise encumber any of its rights under this License to any Affiliate or other third party without NFLP's prior written consent. If Licensee assigns, transfers, grants a security interest in the Licensed Products, or encumbers any portion of this License without such consent, NFLP shall have the right to terminate this License immediately. Among other things, NFLP will consider the License assigned and subject to the requirements of this subparagraph if: (i) the beneficial ownership or control of fifty percent (50%) or more of Licensee's capital stock is transferred or otherwise conveyed; (ii) Licensee becomes part of any merger or consolidation; or (iii) the sale or transfer of all or substantially all of Licensee's assets occurs.