definiens: ), licenses of rights to as defined in Title XI . During the Term of this Agreement each Party shall create and maintai n current copies to the extent practicable of all such intellectual property . If a bankruptcy proceeding is commenced by or against one Party under Title XI, the other Party shall be entitled to a copy of any and all such intellectual property and all embo diments of such intellectual property developed or created by the Parties pursuant to this Agreement, and the same, if not in the possession of such other Party, shall be promptly delivered to it ( a ) upon such Party ’s written request following the commence ment of such bankruptcy proceeding, unless the Party subject to such bankruptcy proceeding, or its trustee or receiver, elects within [ * * * * * ] days to continue to perform all of its obligations under this Agreement, or ( b ) if not delivered as provided under clause ( a ) above, upon such other Party ’s request following the rejection of this Agreement by or on behalf of the Party subject to such bankruptcy proceeding . If a Party has taken possession of all applicable embodiments of the intellectual property of the other Party pursuant to this Section 12.14 ( ) and the trustee in bankruptcy of the other Party does not reject this Agreement, the Party in possession of such intellectual property shall return such embodiments upon request . If a Party seeks or involuntarily is placed under Title XI and the trustee rejects this Agreement as contemplated under 11 U.S.C. 365(n)(1 ), the other Party hereby elects, pursuant to Section 365(n ) of Title XI, to retain all rights granted to it under this Agreement to t he extent permitted by Applicable Law