Common use of Transfer of Licensed IP Clause in Contracts

Transfer of Licensed IP. In the event a division of Hitachi that is the owner of the Licensed IP or any Future Hitachi IP that is licensed to Opto-Device 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 this IP License Agreement for Opto-Device from the new owner such that Opto-Device can continue to use such Licensed IP and such Future Hitachi IP until such Licensed IP and/or Future Hitachi IP expires hereunder, unless otherwise terminated according to the provisions of this IP License Agreement.

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 IP that is licensed to Opto-Device 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 this IP License Agreement for Opto-Device OpNext Japan from the new owner such that Opto-Device OpNext Japan can continue to use such Licensed IP and such Future Hitachi IP until such Licensed IP and/or Future Hitachi IP expires hereunder, unless otherwise terminated according to the provisions of this IP License Agreement.