transferred licensed intellectual property

transferred licensed intellectual property. Means (i) Patents owned by Licensor or its Affiliates as of the Effective Time and set forth on Schedule 1 ('Licensed Patents') and (ii) Know-How owned by, or licensed to (and sublicensable by Licensor without any obligation to the owner of such Know-How), Licensor or its Affiliates as of the Effective Time that are related to the Licensed Patents.