BancTec Technology definition
BancTec Technology means BancTec's proprietary technology, including BancTec Services, software tools, hardware designs, algorithms, software (in source and object forms), user interface designs, architecture, class libraries, objects and documentation (both printed and electronic), network designs, know-how, trade secrets and any related intellectual property rights throughout the world (whether owned by BancTec or licensed to BancTec from a third party) and also including any derivatives, improvements, enhancements or extensions of BancTec Technology conceived, reduced to practice, or developed during the term of this Agreement, provided however that such derivatives, improvements, enhancements or extensions are not derived from EDS Technology.
Examples of BancTec Technology in a sentence
Except for the rights expressly granted in this Agreement, this Agreement does not transfer from BancTec to EDS any BancTec Technology, and all right, title and interest in and to BancTec Technology will remain solely with BancTec.
BancTec hereby grants to EDS a nonexclusive, royalty-free license, during the Term, to use the BancTec Technology solely for purposes of using and receiving the Services.
EDS shall have no right to use the BancTec Technology for any purpose other than as beneficiary of the Services.