Current Feature Rights Sample Clauses
The Current Feature Rights clause defines which party holds the rights to use, distribute, or otherwise exploit features that are currently present in a product or service at the time of agreement. Typically, this clause clarifies whether the client or the service provider retains ownership or usage rights over existing functionalities, as opposed to new features developed in the future. Its core practical function is to prevent disputes by clearly allocating rights to features that already exist, ensuring both parties understand their entitlements and limitations regarding the current state of the product.
POPULAR SAMPLE Copied 1 times
Current Feature Rights. If at any time during the Term, Licensor and other SPE Entities collectively fail to control the Necessary Rights with respect to the exploitation hereunder of Pay-Per-View or Video-On-Demand rights in substantially all feature length motion pictures theatrically released by any SPE Entity during the Term (excluding pictures acquired by a SPE Entity due to such SPE Entity’s merger with a third party rights holder or acquisition of a third party film library), Licensee shall have the right to terminate this Agreement by delivering thirty (30) days prior written notice to Licensor. Licensor’s mere failure of the foregoing shall in no event deemed to be, or in any way constitute, a breach of this Agreement, and Licensee shall not be entitled to any rights or remedies as a result of such failure, except as otherwise expressly set forth in this Section 5.8. Licensor shall be deemed to control the Necessary Rights in a Current Feature or Library Film if any other SPE Entity controls such rights.