Common use of SUBLICENSING/ASSIGNMENT Clause in Contracts

SUBLICENSING/ASSIGNMENT. The license shall be sublicensable by Licensee to its affiliates and distributors. Any such sublicense must (i) be in writing, (ii) include provisions at least as protective of Licensor as the provisions of the license, and (iii) include Licensor as a third party beneficiary with the right to enforce the terms of such sublicense.The license shall only be transferable or assignable by Licensee without consent to a third-party acquiror in connection with an acquisition of substantially all of the assets of the business of Licensee to which this License pertains (whether by merger, consolidation, sale of assets, sale or exchange of stock or otherwise).

SUBLICENSING/ASSIGNMENT. The license to use the Licensed Trademarks upon or in connection with products shall be sublicensable by Licensee to its affiliates and distributors. Any such sublicense must (i) be in writing, (ii) include provisions at least as protective of Licensor as the provisions of the license, (iii) preclude the sublicensee from granting further sublicenses and (iiiiv) include Licensor as a third party beneficiary with the right to enforce the terms of such sublicense.The license shall only be transferable or assignable by Licensee without consent to a third-party acquiror in connection with an acquisition of substantially all of the assets of the business of Licensee to which this License pertains (whether by merger, consolidation, sale of assets, sale or exchange of stock or otherwise).