Common use of The Licenses Clause in Contracts

The Licenses. At or prior to the Closing, PSI and CCORE shall terminate the CCORE License pursuant to a termination agreement in the form reasonably required by Newco (the “Termination Agreement”) and CCORE, CFLP, PSI, ProDril Services International Limited, and the Stockholder shall enter into (i) a license agreement with Newco in the form of Exhibit B (the “New License Agreement”), and (ii) an Assignment and Assumption Agreement in the form of Exhibit C (the “Assignment”).

The Licenses. At or prior to the Closing, PSI PSIL and CCORE shall terminate the CCORE License pursuant to a termination agreement in the form reasonably required by Newco (the “Termination Agreement”) and CCORE, CFLP, PSIPSIL, ProDril Services International LimitedIncorporated, and the Stockholder Principal shall enter into (i) a license agreement with Newco in the form of Exhibit B (the “New License Agreement”), and (ii) an Assignment and Assumption Agreement in the form of Exhibit C (the “Assignment”).