Common use of Transfer of Licensed IP Clause in Contracts

Transfer of Licensed IP. In the event a Subsidiary or division of Hitachi that is the owner of the Licensed IP or Hitachi R&D IP is sold or otherwise transferred by Hitachi, Hitachi will make necessary arrangements to secure a license under the terms and conditions of the IP License Agreement for OpNext Japan from the new owner such that OpNext Japan can continue to use such Licensed IP and/or Hitachi R&D IP until such Licensed IP or Hitachi R&D IP, respectively, expires.

Transfer of Licensed IP. In the event a Subsidiary or division of Hitachi that is the owner of the Licensed IP or any Future Hitachi R&D IP that is licensed to OpNext Japan under Section 3(f) is sold or otherwise transferred by Hitachi, Hitachi will make necessary arrangements to secure a license under the terms and conditions of the this IP License Agreement for OpNext Japan from the new owner such that OpNext Japan can continue to use such Licensed IP and/or and such Future Hitachi R&D IP until such Licensed IP or and/or Future Hitachi R&D IPIP expires hereunder, respectively, expiresunless otherwise terminated according to the provisions of this IP License Agreement.