Third Party Component Clause Samples
A Third Party Component clause defines the terms under which software or materials from external sources, not originally developed by the contracting parties, are included in a product or service. This clause typically specifies the types of third-party components involved, such as open-source libraries or licensed software, and outlines any obligations regarding their use, attribution, or compliance with their respective licenses. Its core practical function is to clarify the rights and responsibilities related to third-party materials, ensuring that both parties understand the legal and operational implications of incorporating such components.
Third Party Component. Schedule 6.4 sets forth a description of all agreements, arrangements, licenses and contact information between LICENSOR and any third party required or necessary for the manufacturing of the gaming products or SMARTBOOK devices (the “Third Party Arrangements”). During the term of this Agreement, LICENSOR agrees to assign to LICENSEE the Third Party Arrangements, including but not limited to all arrangements for third party component of SMARTBOOK or software, hardware and peripherals to be bundled with, but not incorporated into, the Technology (or any applications therefor), such that LICENSEE shall be entitled, but not obligated, to procure such third party component, software, hardware and peripherals through LICENSOR, on the same terms and conditions as LICENSOR. LICENSOR hereby assigns to LICENSEE all representations and warranties, and all of the benefits relating thereto, received by LICENSOR from such third parties with respect to such third party component, software, hardware and peripherals. LICENSOR shall promptly provide, at LICENSEE’s request, all information including, without limitation, purchase orders, invoices, cost or pricing schedules, and product brochures, related to third party components, so that LICENSEE may determine the benefit LICENSOR is entitled from dealings with such third party.