Common use of Creation of Derivative Works Clause in Contracts

Creation of Derivative Works. Licensee is expressly authorized to create one or more Derivative Works based on the Licensed Materials, provided that: 1. Such Derivative Works may only be used by the Licensee in connection with the registration of its proposed public offering of securities under the Securities Act of 1933, the satisfaction of its reporting obligations under the Securities Exchange Act of 1934 and the implementation of the offering protocols, business methods and plan of operations embodied in the Licensed Materials; 2. All pre-effective amendments to the Licensee’s Form S-1 Registration shall be prepared by the Licensor, or outside legal counsel selected and paid by the Licensor, and title to any additional copyrights or other intellectual property arising from such pre-effective amendments shall, subject to the terms of this Agreement, be vested exclusively in the Licensor; and 3. Licensee expressly agrees and acknowledges that any additional copyrights arising from such pre-effective amendments shall not constitute a work for hire or confer on Licensee any rights that vary in any material respect from the License granted by this Agreement.

Creation of Derivative Works. Licensee is expressly authorized to create one or more Derivative Works based on the Licensed Materials, provided that: 1. Such Derivative Works may only be used by the Licensee in connection with the registration of its proposed public offering of securities under the Securities Act of 1933, the satisfaction of its reporting obligations under the Securities Exchange Act of 1934 and the implementation of the offering protocols, business methods and plan of operations embodied in the Licensed Materials; 2. All pre-effective amendments to the Licensee’s 's Form S-1 Registration shall be prepared by the Licensor, or outside legal counsel selected and paid by the Licensor, and title to any additional copyrights or other intellectual property arising from such pre-effective amendments shall, subject to the terms of this Agreement, be vested exclusively in the Licensor; and 3. Licensee expressly agrees and acknowledges that any additional copyrights arising from such pre-effective amendments shall not constitute a work for hire or confer on Licensee any rights that vary in any material respect from the License granted by this Agreement.