Common use of Contract IP Clause in Contracts

Contract IP. li any Contract IP is delivered, provided or otherwise made available to a Relevant Company, such Contract IP shall be for the benefit and ownership of that Relevant Company. Supplier assigns all right, title and interest in and to the Contract IP (whether created before, on or after the Commencement Date) to the Relevant Company, free and clear of all liens, charges, hypothecs, security interests, claims, third party rights to use or acquire such Contract IP or other encumbrances whatsoever and shall cause any Subcontractor engaged in the creation of any Contract IP to do the same. At the Relevant Company’s request, Supplier shall deliver any formal assignment or other document required to give effect to this Section 40.2.