Common use of Transfer by Licensor Clause in Contracts

Transfer by Licensor. In the event of the transfer and assignment by Licensor of its interest in this License and in the Store to a person expressly assuming Licensor's obligations under this License, Licensor shall thereby be released from any further obligations hereunder, and Licensee agrees to look solely to such successor in interest of Licensor for performance of such obligations. Any security given by Licensee to secure performance of Licensee's obligations hereunder may be assigned and transferred by Licensor to such successor in interest, and Licensor shall thereby be discharged of any further obligation relating thereto.