Common use of Other Intellectual Property Clause in Contracts

Other Intellectual Property. (a) Effective as of the Closing Date, and excluding any Trademarks, with respect to any Intellectual Property included in the Excluded Assets owned or licensed (to the extent that such Intellectual Property can be sublicensed on the terms herein without any consent, payment or other consideration and without any relinquishment or forbearance of any rights, and, in any event, excluding any Software or Intellectual Property used for Overhead and Shared Services) by Seller and its Affiliates as of the Closing Date that is used, held for use by or necessary to the operation of the Business as of the Closing Date (including with respect to products in development), Seller does hereby, and shall cause its Affiliates to, grant Purchaser in and to such Intellectual Property a perpetual, irrevocable, worldwide, non-exclusive, royalty-free license to use, reproduce, publish, display, perform, make, have made, sell, offer, import or otherwise exploit, solely in connection with the Business, any product, process, work or service.

Other Intellectual Property. (as) Effective as of the Closing Date, and excluding any Trademarks, with respect to any Intellectual Property included in the Excluded Assets owned or licensed (to the extent that such Intellectual Property can be sublicensed on the terms herein without any consent, payment or other consideration and without any relinquishment or forbearance of any rights, and, in any event, excluding any Software or Intellectual Property used for Overhead and Shared Services) by Seller and its Affiliates as of the Closing Date that is used, held for use by or necessary to the operation of the Business as of the Closing Date (including with respect to products in development), Seller does hereby, and shall cause its Affiliates to, grant Purchaser in and to such Intellectual Property a perpetual, irrevocable, worldwide, non-exclusive, royalty-free license to use, reproduce, publish, display, perform, make, have made, sell, offer, import or otherwise exploit, solely in connection with the Business, any product, process, work or service.. 71