Underlying patents Clause Samples

Underlying patents. The Transferors hereby agree that, prior to the Closing Date, it shall execute an exclusive license agreement as shown in Appendix XIII with the Transferee (or its designated Person) for the underlying patents listed in Appendix XIII hereto to grant the Transferee (or its designated Person) a permanent, free of charge and exclusive (that is, the Transferor shall not license the Underlying Patents to any entities other than the Transferee (or its designated) and Uxin Group Company). The Transferors shall be responsible for completing the registration formalities with relevant patent office for such Underlying Patents within six (6) months after the Closing Date, and the Transferee shall give necessary cooperation and assistance, and all the expenses for the registration formalities shall be assumed solely by the Transferors. The Transferors and Uxin Group Companies shall ensure continually the good standing of the Underlying Patents after the execution of this Agreement, payments in due time for necessary expenses to maintain the good standing of such Underlying Patents, and to take other necessary measures to ensure the continuous use of such Underlying Patents by the Transferee or its designated Person.