Common use of Complete Termination Clause in Contracts

Complete Termination. Except for a Permitted Transfer effectuated in accordance with the terms of the Agreement, including, without limitation, Section 1.6 hereof, this Owner Agreement shall automatically and fully terminate upon any purported transfer by the Owner. For clarity, any transfer of an NFT, other than a Permitted Transfer, terminates the Owner Agreement in its entirety, including without limitation, the Owner License, and all such rights shall automatically revert to Licensor. For the avoidance of doubt, if a Secondary Acquirer receives an NFT, except pursuant to a Permitted Transfer, such Secondary Acquirer has no license to the Digital Object and therefore cannot execute a Permitted Transfer to a subsequent Secondary Acquirer.

Complete Termination. Except for a Permitted Transfer effectuated in accordance with the terms of the Agreement, including, without limitation, Section 1.6 1.5 hereof, this Owner Agreement shall automatically and fully terminate upon any purported transfer by the Owner. For clarity, any transfer of an NFT, other than a Permitted Transfer, terminates the Owner Agreement in its entirety, including without limitation, the Owner License, and all such rights shall automatically revert to Licensor. For the avoidance of doubt, if a Secondary Acquirer receives an NFT, except pursuant to a Permitted Transfer, such Secondary Acquirer has no license to the Digital Object and therefore cannot execute a Permitted Transfer to a subsequent Secondary Acquirer.