Rights of Bankruptcy Sample Clauses

Rights of Bankruptcy. All rights in the Licensed Technology granted under or pursuant to this Agreement by Hymedix are, and shall otherwise be deemed to be, for purposes of Section 365(n) of the U.S. Bankruptcy Code, licenses of rights to "intellectual property" as defined under Section 101 of the U.S. Bankruptcy Code. ProCyte, as licensee of such rights under this Agreement, shall retain and may fully exercise all its rights and elections under the U.S. Bankruptcy Code. In the event of the commencement of a bankruptcy proceeding by or against Hymedix under the U.S. Bankruptcy Code, ProCyte shall be entitled to complete access to (or a complete duplicate of. as appropriate) any such intellectual property and all embodiments of such intellectual property, and the same. if not already in ProCyte's possession, shall be promptly delivered to ProCyte (a) upon any such commencement of a bankruptcy proceeding upon ProCyte's written requests therefor, unless Hymedix elects to continue to perform all of its obligations under this Agreement or (b) if not delivered under (a) above, upon the rejection of this Agreement by or on behalf of Hymedix and upon written request therefor by ProCyte.