TradeIt! Software Clause Samples
The 'TradeIt! Software' clause defines the terms under which the TradeIt! software is provided, used, or licensed within the agreement. It typically outlines the scope of permitted use, any restrictions on copying or modifying the software, and the responsibilities of the parties regarding updates or support. For example, it may specify that the software is licensed for internal business use only and prohibit reverse engineering. The core function of this clause is to clearly establish the rights and limitations associated with the software, thereby protecting the intellectual property of the provider and ensuring proper use by the recipient.
TradeIt! Software. ITEX acknowledges that the “TradeIt!” software (including any related software or database programs) is not owned by BXI and that BXI’s right to use such software shall terminate as of the Signing Date, except as specifically set forth in the Transition Services Agreement and that certain Post-Signing Date TradeIt Online User Agreement between the Principal Stockholder and BXI, a copy of which is attached hereto as Exhibit F. ITEX agrees, on its behalf and on behalf of BXI (prior to the Closing Date) and the Surviving Corporation (as of and after the Closing Date), not to assert any claims with respect to the TradeIt! Software at any time.