Common use of CORPORATION OR PARTNERSHIP Clause in Contracts

CORPORATION OR PARTNERSHIP. 18.3.1. If Licensee is a corporation, this Master License Agreement is to the corporation as it currently exists. Any dissolution, merger, consolidation, or other reorganization of Licensee, or the sale or other transfer of stock ownership of the corporation, voluntary, involuntary, or by operation of law, greater than ten percent (10%) shall be deemed a voluntary assignment of this Master License Agreement and, therefore, subject to the provisions of 21 of 33 this Master License Agreement as to voluntary assignment thereof, including that provision requiring Licensor's prior written consent. This paragraph shall not apply to corporations the stock of which is traded through an exchange.