Common use of Assignment to BMI Clause in Contracts

Assignment to BMI. Without limiting Section 3.01, IBt hereby acknowledges Implant Sciences’ intention to assign or transfer this License Agreement to BMI (“Assignment”). IBt agrees that in the event of the Assignment, IBt shall, and hereby does, forever release and discharge Implant Sciences, as of the effective date of the Assignment (the “Assignment Effective Date”), from any and all warranties, covenants, and obligations of Licensee under this License Agreement, excluding only those obligations of Implant Sciences expressly set forth in Section 5.(b), from and after the Assignment Effective Date, and IBt further agrees that, from and after the Assignment Effective Date, as between Implant Sciences and BMI, only BMI shall have any obligation to perform any liability with respect to any and all warranties, covenants, and obligations of Licensee under this License Agreement, excluding only those obligations of Implant Sciences expressly set forth in Section 5.(b).

Assignment to BMI. Without limiting Section 3.01, IBt hereby acknowledges Implant Sciences’ intention to assign or transfer this License Agreement ownership in the Xenation Intellectual Property Rights and Ancillary Intellectual Property Rights to BMI (“Assignment”). IBt agrees that in the event of the Assignment, IBt shall, and hereby does, forever release and discharge Implant Sciences, as of the effective date of the Assignment (the “Assignment Effective Date”), from any and all warranties, covenants, and obligations of Licensee Licensor under this License Agreement, excluding only those obligations of Implant Sciences expressly set forth in Section 5.(b), from and after the Assignment Effective Date, and IBt further agrees that, from and after the Assignment Effective Date, as between Implant Sciences and BMI, only BMI shall have any obligation to perform any liability with respect to any and all warranties, covenants, and obligations of Licensee Licensor under this License Agreement, excluding only those obligations of Implant Sciences expressly set forth in Section 5.(b).