Common use of Type III Materials Clause in Contracts

Type III Materials. JPMC will have all right, title, and interest (including but not limited to ownership of Intellectual Property rights) in and to Type III Materials. Visa will retain one copy of the Type III Materials. JPMC grants to Visa (i) an irrevocable, perpetual, nonexclusive, worldwide, paid-up, royalty free license to use, execute, reproduce, display, perform, export, sublicense and distribute (internally and externally) copies of, and prepare derivative works based on, Type III Materials and (ii) the right to authorize others to do any of the foregoing.