Common use of Grant Back Clause in Contracts

Grant Back. Upon termination of this Agreement for any reason other than by Licensee pursuant to Section 11.2 or 11.5, Licensee will grant Inhibrx a perpetual, worldwide, sublicensable, license under all intellectual property rights Controlled by Licensee or its Affiliates as of the effective date of termination, to the extent used by Licensee as of the date of termination, that are necessary to (a) use, sell, offer for sale and import (but not to make or have made) Licensed Products in existence on the date of termination on an exclusive basis and (b) make and have made Licensed Products in existence on the date if termination on a non-exclusive basis; provided, that the grant of such license shall be subject to the Parties having agreed upon a commercially reasonable royalty rate to be paid by Inhibrx to Licensee on sales of the Licensed Products.