Common use of Grant and Term Clause in Contracts

Grant and Term. Subject to the provisions of this Agreement: CONFIDENTIAL - DO NOT DISCLOSE (a) Innofone hereby grants to CIBC a royalty-free, non-transferable, personal, non-exclusive right, licence and privilege to use the Trade-marks of Innofone set out in SCHEDULE "D" (the "INNOFONE TRADE-MARKS") solely in connection with CIBC's participation in and promotion of Bizsmart for the Term; (b) CIBC hereby grants to Innofone a royalty-free, non-transferable, personal, non-exclusive right, licence and privilege to use the Trade-marks of Bizsmart set out in SCHEDULE "E" (the "BIZSMART TRADE-MARKS") solely in connection with Innofone's participation in and promotion of Bizsmart for the Term; and (c) CIBC and Innofone may update their respective trade-▇▇▇▇ Schedule from time to time by delivering a revised Schedule to the other Party in accordance with the provision of SECTION 19.6, and any such updated Schedule shall be treated as the applicable Schedule hereunder.