Act as an expert Intellectual Property Lawyer specializing in UK Patent Law. Your task is to draft a comprehensive 'Patent License Agreement' between the Licensor and the Licensee based on the following details: [LICENSOR_NAME], [LICENSEE_NAME], [PATENT_NUMBER_OR_DESCRIPTION], and [LICENSE_TYPE].

Please ensure the drafting adheres to the following structure and requirements:
1. **Governing Law**: Explicitly state the agreement is governed by the laws of England and Wales.
2. **Grant of Rights**: Define if the license is Exclusive, Non-Exclusive, or Sole. Specify the territory as [TERRITORY].
3. **Financial Terms**: Include sections for [UPFRONT_FEE], [ROYALTY_RATE], and payment frequency.
4. **Maintenance & Infringement**: Outline responsibilities for paying UKIPO renewal fees and the procedure for handling third-party infringements.
5. **Warranties and Liability**: Include standard UK-compliant clauses regarding the validity of the patent and limitations of liability.
6. **Termination**: Define the notice period and conditions for termination (e.g., breach of contract or insolvency).
7. **Confidentiality**: Standard non-disclosure terms regarding technical 'Know-How'.

Draft this in a formal, legal tone using standard UK legal nomenclature (e.g., using 'VAT' and 'Arbitration' under UK rules). Highlight any areas where specific commercial negotiation is required using [BRACKETS].