Applicability of Bankruptcy Code Sample Clauses

The "Applicability of Bankruptcy Code" clause defines how the terms of a contract interact with the provisions of the U.S. Bankruptcy Code in the event that one of the parties files for bankruptcy. Typically, this clause clarifies whether certain contractual rights—such as termination, setoff, or enforcement of security interests—remain enforceable despite bankruptcy proceedings, or if they are subject to automatic stays and other bankruptcy protections. Its core function is to allocate risk and provide clarity regarding the parties' rights and obligations if bankruptcy occurs, helping to prevent disputes and uncertainty during insolvency situations.
Applicability of Bankruptcy Code. For the avoidance of doubt, rights granted under this ARTICLE IV shall be deemed to be license of rights to “intellectual property” as defined in Section 101 (35A) of the Bankruptcy Code and shall otherwise be subject to Section 2.3.
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Applicability of Bankruptcy Code. The foregoing license shall be deemed to be, for purposes of Section 365(n) of the United States Bankruptcy Code and any foreign equivalent thereof, a license of rights to “intellectual property” as defined therein. AMEDICA, as licensee of such rights, shall have the rights and elections with respect thereto as specified in the United States Bankruptcy Code and any foreign equivalent thereof. This Agreement shall be deemed to be an “agreement supplemental to” the license for purposes of Section 365(n) and any foreign equivalent thereof. If a bankruptcy proceeding is commenced by or against DYTECH (or any Party comprising DYTECH) and DYTECH (or a trustee or other Party acting on its behalf) thereafter rejects this Agreement or fails to perform all of its obligations under this Agreement, then AMEDICA shall be entitled to receive, promptly upon request therefore, a complete duplicate of (or full access to) any such intellectual property and all embodiments thereof.
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Applicability of Bankruptcy Code. Each Party acknowledges that all rights, covenants and licenses granted by Licensor are, and shall otherwise be deemed to be, for purposes of Section 365(n) of Title 11 of the United States Code (“the Bankruptcy Code”), licenses of rights to “intellectual property” as defined under Section 101(35A) of the Bankruptcy Code.
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Applicability of Bankruptcy Code. Except as otherwise specifically provided in Sections 4.2, 4.3.3, 4.6, 4.7, 8.11, and 8.16.5, nothing in this Agreement shall affect the applicability, if any, of the Bankruptcy Code to any liabilities for which Enron has responsibility.
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Applicability of Bankruptcy Code. 15.1 The Parties intend and agree that (a) the rights granted under Licensor's patented copyrights hereunder and in the Other Agreements are individually, and in the aggregate deemed to be "intellectual property" as that term is defined in Section 101 of the United States Bankruptcy Code, as in effect as of the date hereof ("Bankruptcy Code"); and (b) the provisions of Section 365(n) of the Bankruptcy Code shall be applicable to the rights and obligations of the Parties upon the occurrence of one or more of the events set forth in Section 14.0.5.
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Related to Applicability of Bankruptcy Code

  • Applicability of ¶ 2501 Local Church acknowledges and agrees that pursuant to ¶ 2501 of the Discipline, the Local Church holds all its property, real and personal, tangible and intangible, in trust for the benefit of The United Methodist Church, including the Real Property and Personal Property, and the Local Church will not take any actions that are inconsistent therewith or opposing or negating the same.

  • Applicability of Agreement The Developer agrees that the Lands shall be developed and used only in accordance with and subject to the terms and conditions of this Agreement.

  • Applicability of Rule 419 Upon delivery and payment for the Units on the Closing Date and each Additional Closing Date, the Company will not be subject to Rule 419 under the Securities Act and none of the Company’s outstanding securities will be deemed to be a “▇▇▇▇▇ stock” as defined in Rule 3a51-1 under the Exchange Act.

  • Applicability of ISP Unless otherwise expressly agreed by the L/C Issuer and the Borrower when a Letter of Credit is issued, the rules of the ISP shall apply to each Letter of Credit.

  • Applicability of ISP and UCP Unless otherwise expressly agreed by the L/C Issuer and the Borrower when a Letter of Credit is issued (including any such agreement applicable to an Existing Letter of Credit), (i) the rules of the ISP shall apply to each standby Letter of Credit, and (ii) the rules of the Uniform Customs and Practice for Documentary Credits, as most recently published by the International Chamber of Commerce at the time of issuance shall apply to each commercial Letter of Credit.