Common use of EXCHANGE OF LICENSES Clause in Contracts

EXCHANGE OF LICENSES. 2.1 Grant of Licenses from MAXYGEN to NOVO NORDISK. MAXYGEN hereby grants ---------------------------------------------- to NOVO NORDISK a worldwide, royalty-bearing (in accordance with below), exclusive, irrevocable (except as otherwise stated in Section 9) and sublicensable right and license to practice the MAXYGEN Patents, the MAXYGEN Know-How, the MAXYGEN Future Patents, the Jointly Owned Patents and the MAXYGEN Break-through Inventions to make, have made, use, promote, market distribute and sell Licensed Products within the NOVO NORDISK Field and any NOVO NORDISK Preferred Areas which may be activated in accordance with Section 7 hereof.