Common use of Object Code License Clause in Contracts

Object Code License. Supplier grants to MTI (with the right to sublicense for MTI’s benefit) and to its third party distributors, manufacturers and contractors a perpetual, irrevocable, worldwide, non-exclusive, fully paid up license under Supplier’s and its licensors’ Intellectual Property Rights, to use, make, reproduce, demonstrate, create Derivative Works of, market, or otherwise distribute Documentation, Object Code or Object Code API incorporated into a Product or as a stand alone accessory; and as to MTI Customers, each MTI Customer will have the right to use such Documentation, Object Code, and if applicable, the Object Code API. All rights accorded to MTI Customers will survive termination or alteration of this Agreement. Supplier also grants MTI a perpetual, irrevocable, worldwide, nonexclusive, royalty free license under Supplier’s and its licensors’ Intellectual Property Rights to: (i) use, make or have made, demonstrate, or have demonstrated, market or have marketed, import, offer or have offered for sale, sell or have sold, license or have licensed, and otherwise distribute or have distributed, MTI’s products into which the Software has been incorporated; and (ii) provide to MTI’s customers for these products a limited right to use the Software, which right will survive any termination or expiration of this Agreement.