Common use of Type V Materials Clause in Contracts

Type V Materials. Visa will have all right, title, and interest (including but not limited to ownership of Intellectual Property rights) in and to Type V Materials. JPMC will retain one copy of the Type V Materials. Visa grants to JPMC (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 V Materials and (ii) the right to authorize others to do any of the foregoing.