Common use of Grant and Scope of License Clause in Contracts

Grant and Scope of License. (a) Subject to the terms and conditions of this Agreement, Licensor hereby grants Licensee a non-transferable, non-exclusive, limited license, with no right to sublicense (other than as detailed below), (i) to use the calculated values for the Index, Subindex, Total Return, and Excess Returns specified in Exhibit C as a component of the Product(s) described in Exhibit A to be created, issued, offered, written and/or sold by Licensee and (ii) to use and refer to the Marks in connection with the marketing and promotion of such Product(s), management. administration, listing of the Products, and in connection with making such disclosure about the Product(s) whichever is relevant as Licensee deems necessary or desirable under any applicable law, rules or regulations, but, in each case, only to the extent necessary to indicate the Products are based upon the Index and to indicate that Reuters is the source of the Index and subject to Section 4. It is expressly agreed and understood by Licensee that no rights to use the Index or the Marks are granted hereunder other than those specifically described and expressly granted herein. Licensee may sublicense the right to use and refer to the Marks as detailed in (ii) above to those who promote, market, maintain, manage and sell the Products on behalf of Licensee for the sole purpose of enabling such entities to promote, market, maintain and sell the Products, provided that no such sublicense shall be made except with respect to the Products and then only to the extent of the rights expressly granted to Licensee pursuant to this Agreement. (b) The parties agree that this Agreement does not obligate Licensor to provide or deliver the Index values and/or related data to Licensee and Licensee shall be required to obtain such Index values and/or related data from an authorized distributor of such Index values and/or related data.