Seismic Data. Upon Closing, the ▇▇▇▇▇-▇▇▇▇ Parties will grant to Buyer (or, as requested by Buyer, to ▇▇▇▇▇-▇▇▇▇ FB/M Successor and Pillar FB/M Successor) a reasonable and customary non-exclusive license to the ▇▇▇▇▇-▇▇▇▇ Parties’ seismic and geophysical data relating to any of the Properties, with such terms and duration as may be consistent with the ▇▇▇▇▇-▇▇▇▇ Parties’ rights thereto (but unless Buyer and the ▇▇▇▇▇-▇▇▇▇ Parties otherwise mutually agree to further restrictions, such license will to the extent it covers such data that is owned by the ▇▇▇▇▇-▇▇▇▇ Parties be a fully paid (royalty free), perpetual license the ▇▇▇▇▇-▇▇▇▇ Parties subject to any same restrictions that are applicable to the ▇▇▇▇▇-▇▇▇▇ Parties); but, only to the extent that such materials are not restricted from transfer by any legal constraints, obligations of confidence or prior agreements with third parties, and provided that the ▇▇▇▇▇-▇▇▇▇ Parties can obtain consent to license where required, without material expense or unreasonable burden.
Appears in 2 contracts
Sources: Reorganization and Interest Purchase Agreement, Reorganization and Interest Purchase Agreement (Halcon Resources Corp)