Common use of License Extension Clause in Contracts

License Extension. In the event of termination of this Agreement pursuant to Section 13, other than a Cause Termination (as defined in Section 13.2), the Parties agree, to extend the licenses described in this Section for a reasonable period of time, but no longer than twelve (12) months to allow for the continued use of the Components during any period of transition to a newly engineered solution to replace the Components (a “License Extension”). In addition, the License Extension may be extended for up to an additional twelve (12) months by an end user or [**] agreement entered into prior to termination of the Agreement, provided that LMI will receive at least $250,000 per quarter (including as part of its share of Revenue) over the additional 12-month period. The Parties agree to use commercially reasonable efforts to limit the term of any such transition period and therefore the term of the License Extension. The confidentiality and other proprietary rights provisions of this Agreement will continue throughout any License Extension and after termination of this Agreement. Payment and revenue terms for payment to LMI during any License Extension and for the entire period of any License Extension will continue to be pursuant to the terms described in this Agreement, including the revenue shares provisions under Section 12.6. During the term of any License Extension, neither Party shall have any obligation to deliver any enhancements or updates to the Solution to the other Party, however, LMI will remain obligated to provide commercially reasonable support for the Solution, including bug fixes, during the License Extension, unless otherwise agreed to in writing by the Parties.

License Extension. In the event of termination of this Agreement pursuant to Section 13, other than a Cause Termination (as defined in Section 13.2), the Parties agree, to extend the licenses described in this Section for a reasonable period of time, but no longer than twelve (12) months to allow for the continued use of the Components during any period of transition to a newly engineered solution to replace the Components (a “License Extension”). In addition, the License Extension may be extended for up to an additional twelve (12) months by an end user or [**] agreement entered into prior to termination of the Agreement, provided that LMI will receive at least $250,000 [**] per quarter (including as part of its share of Revenue) over the additional 12-month period. The Parties agree to use commercially reasonable efforts to limit the term of any such transition period and therefore the term of the License Extension. The confidentiality and other proprietary rights provisions of this Agreement will continue throughout any License Extension and after termination of this Agreement. Payment and revenue terms for payment to LMI during any License Extension and for the entire period of any License Extension will continue to be pursuant to the terms described in this Agreement, including the revenue shares provisions under Section 12.6. During the term of any License Extension, neither Party shall have any obligation to deliver any enhancements or updates to the Solution to the other Party, however, LMI will remain obligated to provide commercially reasonable support for the Solution, including bug fixes, during the License Extension, unless otherwise agreed to in writing by the Parties.