Common use of Transfer and reassigning Licenses Clause in Contracts

Transfer and reassigning Licenses. Institution must obtain a perpetual License through the buy-out option before it can transfer licenses to an Affiliate, or to third parties in connection with a divestiture, merger, or consolidation. Institution is required to provide notice to Microsoft for such a transfer. Institution cannot transfer licenses to third parties under other circumstances without Microsoft’s prior consent. Transferees must agree to be bound by applicable terms. License transfers must be permanent and operating system licenses must stay with the computer system on which they were first installed. Institution may not transfer any licenses acquired under this agreement except by obtaining perpetual licenses through the buy-out option described in the section titled “Options upon completion of a License period” and transferring them in accordance with the procedures described in this section.