Common use of Licensing Terms Clause in Contracts

Licensing Terms. Type of Rights granted under this Agreement: licenses to use the software without limitation as to functional purpose (no reproduction of copies). · The Licensor warrants that it holds the proprietary IP rights to the software to the extent necessary for execution and proper performance of this Agreement and that such actions do not infringe third-party rights. · The Licensee is not prohibited from providing the software for use to other business entities. · Within the Rights granted, the Licensee may use the software without the right to modify it or correct errors. · Term of the Rights: perpetual from the date the Parties sign the Acceptance–Transfer Act of the software and the Rights thereto (the “Act”). · Territory of the Rights: Ukraine.