Common use of ASSIGNMENT OF SOFTWARE Clause in Contracts

ASSIGNMENT OF SOFTWARE. Not later than 30 days after the Closing Date, Parent, GPX and Sellers shall assign or sublicense to Buyer, in a manner reasonably acceptable to Buyer, any computer software or other Intellectual Property used by any Seller in the course of such Seller's business and shall provide to Buyer any necessary computers or other hardware not now owned by Sellers and necessary for the operations of the businesses of Sellers, which computers or other hardware shall be reasonably acceptable to Buyer. Buyer shall reimburse Parent, GPX or the Sellers for any costs so incurred to provide such items, such costs not to exceed $50,000.