Common use of Technology Transfers Clause in Contracts

Technology Transfers. 8.1 Each of the parties hereby agrees to license to the Company, on a non-exclusive, nontransferable, fully paid up basis, any and all technology, know how, software, operating practices and similar intangible assets held by such party that are used exclusively in the Business of the Company and that were not previously transferred to the Company or a subsidiary of the Company and to execute and deliver all documents reasonably necessary to effect or memorialize such license agreement. 8.2 The parties shall cause the Company to license to NNBR on a non-exclusive, non-transferable, fully paid basis, any and all technology, know how, software, operating practices and similar intangible assets now or hereafter held by the Company that are used in the manufacture of precision steel balls and to execute and deliver all documents reasonably necessary to effect or memorialize such agreement.