Common use of Assignment of Licenses Clause in Contracts

Assignment of Licenses. In addition to all other rights granted to Assignee under the Financing Agreement and this Assignment, Assignor further assigns, transfers and sets over to Assignee as collateral any right of Assignor under any license agreement with any other party and which license agreement is transferable, either by its terms or by operation of law, whether Assignor is a licensor or licensee under any such license agreement, and the right to prepare for sale, sell and advertise for sale, all Inventory now or hereafter owned by Assignor and now or hereafter covered by such license and agrees that it will not take any action, or permit any action to be taken by others subject to its control, including licensees (to the extent provided in the agreements with such licensees), or fail to take any action, which would have a material adverse effect on the validity or enforcement of the rights transferred to Assignee under this Assignment. Assignor hereby covenants that it will promptly notify Assignee if any Trademark shall at any time hereafter become subject to any license agreement and that it will promptly provide Assignee with full identification thereof and with such further documentation as Assignee may reasonably request to accomplish or assure the accomplishment of the purpose of this Section 4.

Appears in 1 contract

Sources: Grant of Security Interest (Big 5 Sporting Goods Corp)

Assignment of Licenses. In addition to all other rights granted to Assignee Agent under the Financing Credit Agreement, the Security Agreement and this AssignmentAgreement, as collateral security only for the payment, performance and observance of the Secured Obligations, Assignor further hereby sells, assigns, transfers and sets over to Assignee as collateral Agent, effective upon the and during the continuance of any right Event of Assignor Default, Assignor's entire right, title and interest in, to and under all Licenses (other than Licenses which terminate or are terminable upon such assignment) and any license agreement with any other party party, whether now existing or hereafter entered into and which license agreement is transferable, either by its terms or by operation of law, whether Assignor is a licensor or licensee under any such license agreement, and the right to prepare for sale, sell and advertise for sale, all Inventory Collateral now or hereafter owned by Assignor and now or hereafter covered by such license License and Assignor agrees that it will not take any action, or permit any action to be taken by others subject to its control, including licensees (to the extent provided in the agreements with such licensees), or fail fall to take any action, which would have a material adverse effect on could affect the validity or enforcement of the rights transferred to Assignee Agent under this AssignmentAgreement, which rights are used or usable in the conduct of Assignor's business. Assignor hereby covenants that it will promptly notify Assignee Agent if any Patent, Copyright or Trademark shall at any time hereafter become subject to any such license agreement and that it will promptly provide Assignee Agent with full identification thereof and with such further documentation as Assignee Agent may reasonably request to accomplish or assure the accomplishment of the purpose of this Section 46.

Appears in 1 contract

Sources: Continuing Security Interest and Conditional Assignment (Protection One Alarm Monitoring Inc)