Common use of Section 365(n) of the Bankruptcy Code Clause in Contracts

Section 365(n) of the Bankruptcy Code. All rights and licenses granted under or pursuant to any section of this Agreement are, and will otherwise be deemed to be, for purposes of Section 365(n) of the U.S. Bankruptcy Code, licenses of rights to “intellectual property” as defined under Section 101(35A) of the Bankruptcy Code. Each Party will retain and may fully exercise all of its rights and elections under the Bankruptcy Code or equivalent legislation in any other jurisdiction. Upon the bankruptcy of either Party, the other Party will further be entitled to a complete duplicate of (or complete access to, as appropriate) any such intellectual property for which a license has been granted to such Party hereunder, and such intellectual property, if not already in its possession, will be promptly delivered to such other Party, unless the Party in bankruptcy elects to continue, and continues, to perform all of its obligations under this Agreement.

Appears in 2 contracts

Samples: Confidential Treatment Requested (Spero Therapeutics, Inc.), Confidential Treatment Requested (Spero Therapeutics, Inc.)

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Section 365(n) of the Bankruptcy Code. All Notwithstanding Section 16.1, all rights and licenses granted under or pursuant to any section of this Agreement are, and will shall otherwise be deemed to be, for purposes of Section 365(n) of the U.S. Bankruptcy Code, licenses of rights to “intellectual property” as defined under Section 101(35A) of the Bankruptcy Code. Each Party will shall retain and may fully exercise all of its their respective rights and elections under the Bankruptcy Code or equivalent legislation in any other jurisdiction. Upon the bankruptcy of either Party, the other Party will shall further be entitled to a complete duplicate of (or complete access to, as appropriate) any such intellectual property for which a license has been granted to such Party hereunderproperty, and such intellectual propertysuch, if not already in its possession, will shall be promptly delivered to such the other Party, unless the Party party that is in bankruptcy elects to continue, and continues, to perform all of its obligations under this Agreement.

Appears in 2 contracts

Samples: Agreement (Cytonics Corp), Distribution Agreement (Cytonics Corp)

Section 365(n) of the Bankruptcy Code. All rights and licenses granted under or pursuant to any section of this Agreement are, and will shall otherwise be deemed to be, for purposes of Section 365(n) of the U.S. Bankruptcy Code, licenses of rights to "intellectual property" as defined under Section 101(35A) of the Bankruptcy Code. Each Party will shall retain and may fully exercise all of its rights and elections under the Bankruptcy Code or equivalent legislation in any other jurisdiction. Upon the bankruptcy of either Party, the other Party will shall further be entitled to a complete duplicate of (or complete access to, as appropriate) any such intellectual property for which a license has been granted to such Party hereunderproperty, and such intellectual propertysuch, if not already in its possession, will shall be promptly delivered to such other Party, unless the Party in bankruptcy elects to continue, and continues, to perform all of its obligations under this Agreement.. ARTICLE III —

Appears in 2 contracts

Samples: How License Agreement (Cerecor Inc.), How License Agreement (Cerecor Inc.)

Section 365(n) of the Bankruptcy Code. All rights and licenses granted under or pursuant to any section of this Agreement are, and will shall otherwise be deemed to be, for purposes of Section 365(n) of the U.S. Bankruptcy Code, licenses of rights to “intellectual property” as defined under Section 101(35A) of the Bankruptcy Code. Each Party will shall retain and may fully exercise all of its rights and elections under the Bankruptcy Code or equivalent legislation in any other jurisdiction. Upon the bankruptcy of either Party, the other Party will further shall be entitled to a complete duplicate of (or complete access to, as appropriate) any such intellectual property for which a license has been granted to such Party hereunderproperty, and such intellectual propertywhich, if not already in its possession, will shall be promptly delivered to such other Party, unless the Party in bankruptcy elects to continue, and continues, to perform all of its obligations under this Agreement.

Appears in 2 contracts

Samples: License Agreement (Urovant Sciences Ltd.), License Agreement (Urovant Sciences Ltd.)

Section 365(n) of the Bankruptcy Code. All rights and licenses granted under or pursuant to any section Section of this Agreement are, are and will shall otherwise be deemed to be, be for purposes of Section section 365(n) of Title 11, of the U.S. United States Code (the “Bankruptcy Code, ”) licenses of rights to “intellectual property” as defined under Section 101(35Ain section 101(56) of the Bankruptcy Code. Each Party will The Parties shall retain and may fully exercise all of its their respective rights and elections under the Bankruptcy Code or equivalent legislation in any other jurisdictionCode. Upon the bankruptcy of either any Party, the other non-bankrupt Party will shall further be entitled to a complete duplicate of (of, or complete access to, as appropriate) any such intellectual property for which a license has been granted to such Party hereunderproperty, and such intellectual propertysuch, if not already in its possession, will shall be promptly delivered to such other the non-bankrupt Party, unless the bankrupt Party in bankruptcy elects to continue, and continues, to perform all of its obligations under this Agreement.

Appears in 2 contracts

Samples: Settlement Agreement and Mutual Release (Dusa Pharmaceuticals Inc), License Agreement (Dusa Pharmaceuticals Inc)

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Section 365(n) of the Bankruptcy Code. All rights and licenses granted under or pursuant to any section of this Agreement are, and will shall otherwise be deemed to be, for purposes of Section 365(n) of the U.S. Bankruptcy Code, licenses of rights to "intellectual property" as defined under Section 101(35A) of the Bankruptcy Code. Each Party will shall retain and may fully exercise all of its rights and elections under the Bankruptcy Code or equivalent legislation in any other jurisdiction. Upon the bankruptcy of either Party, the other Party will shall further be entitled to a complete duplicate of (or complete access to, as appropriate) any such intellectual property for which a license has been granted to such Party hereunderproperty, and such intellectual propertysuch, if not already in its possession, will shall be promptly delivered to such other Party, unless the Party in bankruptcy elects to continue, and continues, to perform all of its obligations under this Agreement...

Appears in 1 contract

Samples: And Commercialization Agreement (Anacor Pharmaceuticals Inc)

Section 365(n) of the Bankruptcy Code. All rights and licenses granted under or pursuant to any section of this Agreement are, and will shall otherwise be deemed to be, for purposes of Section 365(n) of the U.S. Bankruptcy Code, licenses of rights to “intellectual property” as defined under Section 101(35A) of the Bankruptcy Code. Each Party will party shall retain and may fully exercise all of its their respective rights and elections under the Bankruptcy Code or equivalent legislation in any other jurisdiction. Upon the bankruptcy of either Partyparty, the other Party will party shall further be entitled to a complete duplicate of (or complete access to, as appropriate) any such intellectual property for which a license has been granted to such Party hereunderproperty, and such intellectual propertysuch, if not already in its possession, will shall be promptly delivered to such the other Partyparty, unless the Party party that is in bankruptcy elects to continue, and continues, to perform all of its obligations under this Agreement.

Appears in 1 contract

Samples: Collaboration and License Agreement (Celltech Group PLC)

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