Common use of Scope of Sub-License Clause in Contracts

Scope of Sub-License. Sub-Licensee hereby acknowledges that it has received, reviewed, and understands the License Agreement entered into between FTA and VLPI relating to use of the System and Marks. Except as noted herein, Sub-Licensee hereby agrees to obligate itself to all the terms, conditions, and obligations of that License Agreement as if Sub-Licensee were the licensee under the Agreement. Sub-Licensee agrees that VLPI may exercise any rights against Sub-Licensee (including, for example, limitation of liability or indemnification rights) VLPI has against FTA to the same extent as if Sub-Licensee were directly contracting VLPI. Sub-Licensee agrees it will not assert against VLPI any defense, claim, or right Sub-Licensee may have against FTA, including those of set-off, abatement, counterclaim, contribution, or indemnification.

Appears in 2 contracts

Sources: License Agreement (First Trust Value Line R 100 Fund), License Agreement (First Trust Value Line Dividend Fund)

Scope of Sub-License. Sub-Licensee hereby acknowledges that it has received, reviewed, and understands the License Agreement entered into between FTA and VLPI relating to use of the System and Marks. Except as noted herein, Sub-Licensee License hereby agrees to obligate itself to all the terms, conditions, and obligations of that License Agreement as if Sub-Licensee were the licensee under the Agreement. Sub-Licensee agrees that VLPI may exercise any rights against Sub-Licensee (including, for example, limitation of liability or indemnification rights) VLPI has against FTA to the same extent as if Sub-Licensee were directly contracting VLPI. Sub-Licensee agrees it will not assert against VLPI any defense, claim, or right Sub-Licensee may have against FTA, including those of set-off, abatement, counterclaimcounter-claim, contribution, or indemnification.

Appears in 1 contract

Sources: License Agreement (First Trust Value Line R & Ibbotson Equity Allocation Fund)