Common use of Shared IP Rights Clause in Contracts

Shared IP Rights. (a) Each Service Provider hereby grants to Recipient a non-exclusive, fee-bearing right and license to use the intellectual property and other rights granted or licensed, directly or indirectly, to such Service Provider (the "Shared IP Rights") pursuant to Third Party IP Agreements (as such term is defined in the IP Contribution Agreement) and such other agreements that such Service Provider may enter into or become the beneficiary of from time to time on behalf of East and West (the "Additional IP Agreements"), provided that the rights granted to Recipient hereunder are subject to the terms and conditions of the applicable Third Party IP Agreement or Additional IP Agreement, and that such rights shall terminate, as applicable, upon the expiration or termination of the applicable Third Party IP Agreement or Additional IP Agreement. Recipient shall be licensed to use the Shared IP Rights only for so long as it remains an