definiens: ), licenses of rights to a s 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 of righ ts under this Agreement, shall retain and may fully exercise all of such licensed rights under this Agreement ( inclu ding as provided in this Section 14.3 ) and all of its right s and elections under Title 11 and ( b ) the other Pa rty shall be entitled to a complete duplicate of all embodiments of such intellectual property, and such embodiment s, if not already in its possession, shall be promptly delive red to the other Party ( i ) upon any such commenceme nt 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 ), imme diately upon the rejection of this Agreement by or on behalf of the bankrupt Party