Common use of Royalties and Terms Clause in Contracts

Royalties and Terms. The Assignor hereby agrees that upon the occurrence and during the continuance of an Event of Default, the Assignee, or any designee of the Assignee, may, subject to applicable law and to any then existing Licenses granted by such Assignor in respect of any Patent, Trademark or Other Intellectual Property of such Assignor, use any or all of the Patents, Trademarks, Trade Secrets, Licenses or Other Intellectual Property Rights worldwide without any liability to such Assignor for royalties or other related charges. The term of the assignments granted in this Section 2.4 shall extend until the earlier of (i) the expiration of all rights under each of the respective Patents, Trademarks, Trade Secrets and Licenses and Other Intellectual Property Rights assigned hereunder or (ii) the Release Date.