“Licenses” means all licenses, franchises and permits # granted to any of the Target Companies which create rights in the Target Companies regarding any Intellectual Property owned by any Seller or any third party, or # granted by any of the Target Companies which create rights in any third party regarding any Owned Intellectual Property.
Licenses means all licenses, franchises and permits # granted to the Company which create rights in the Company regarding any Intellectual Property owned by third parties, or # granted by the Company which creates rights in any third party regarding any Owned Intellectual Property.
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