Common use of License Assignment Clause in Contracts

License Assignment. Subject to the terms and conditions of this Agreement, ▇▇▇▇▇▇▇ hereby transfers and assigns to Epic all rights, duties, and obligations of ▇▇▇▇▇▇▇ under the Original License with respect to the patent and all other technologies, techniques and/or any product containing cannabis relative to the Market Territory and on the terms and conditions as described in said Original License (the “Assigned Partial License”), and Epic agrees to assume such duties and obligations thereunder and be bound to the terms of the Original License with respect thereto. This Agreement and the rights, duties, and obligations under the Original License assigned and transferred hereunder shall serve as the agreement between Epic and FreshTec with respect thereto. Accordingly, Epic and FreshTec agree that, upon such assignment, transfer, and assumption, each of Epic and FreshTec shall be entitled to enforce the applicable terms of the Original License against the other under this Agreement, provided that (i) the termination of ▇▇▇▇▇▇▇’▇ remaining rights under the Original License shall not have any effect on the rights, duties, and obligations assigned to Epic hereunder and (ii) without limiting any remedies FreshTecC may have against ▇▇▇▇▇▇▇, FreshTec shall not be entitled to limit or terminate the rights assigned to Epic hereunder based on any default or breach by ▇▇▇▇▇▇▇ of the Original License occurring prior to the execution of this Agreement.

Appears in 2 contracts

Sources: License Agreement (Plantation Lifecare Developers, Inc), Merger Agreement (Plantation Corp.)