definiens: ), licenses of rights to as defined in Title 11 . Each Party in its capacity as a licensor hereunder agrees that, in the event of the commencement of bankruptcy pr oceedings by or against such bankrupt Party under Title 11, ( a ) the other Party, in its capacity as a licensee of rights under this Agr eement, shall retain and may fully exercise all of such licensed right s under this Agreement ( including as provided in this Clause 20.3 ) and all of its rights and elections under Title 11 and ( b ) the other Party sh all be entitled to a complete duplicate of all embodiments of such intel lectual property, and such embodiments, if not already in its possession, shall be promptly delivered to the other Party ( i ) upon any such comm encement of a bankruptcy proceeding, unless the bankrupt Party el ects to continue to perform all of its obligations under this Agreement, or ( ii ) if not delivered under ( i ), immediately upon the rejection of this A greement by or on behalf of the bankrupt Party