definiens: ), licenses of rights to as defined in Title 11 . Each Party in its capacity as a licensor hereunder agrees that, in th e event of the commencement of bankruptcy proceedin gs by or against such bankrupt Party under Title 11, ( a ) the other Party, in its capacity as a licensee o f r ights under this Agreement, shall retain and may fully ex ercise all of such licensed rights under this Agree ment ( including as provided in this Clause 17.4 ) and all of its rights and elections under Title 11, and ( b ) the other ( licensee ) Party shall be ent itled to a complete duplicate of all embodiments of such intellectual property, and such embodiments, if not already in i ts possession, shall be promptly delivered to the o ther ( licensee ) Party ( i ) upon any such commencement of a bankruptcy proceeding, unl ess the bankrupt Party elects to continue to perform all of its obligation s under this Agreement, or ( ii ) if not delivered un der ( i ), immediately upon the rejection of this Agreement by or on behalf of the bankrupt Party