Common use of Selection Period Clause in Contracts

Selection Period. Subject to the other provisions of this Agreement and the Three-Way Agreement, P&U hereby grants to Geron during the Research Term a world- wide, paid-up right and license under the P&U Technology solely to conduct the Research. Subject to the terms and conditions of this Agreement and Geron's existing licenses to Kyowa Hakko under the KH Collaboration, each party covenants that during the Research Term it shall not grant any other licenses to any Third Party equivalent to, or that are reasonably likely to conflict with, the rights granted under this Section 4.2, other than limited non-commercial material transfer agreements and confidential disclosure agreements that are restricted to academic uses or under which Geron retains the rights to acquire, or to negotiate the acquisition of, the inventions in the Field that directly result from the use of such materials or confidential information. Neither party may grant sublicenses under the rights granted by the other party in this Section, except to Affiliates.