Common use of Duties of Licensee Clause in Contracts

Duties of Licensee. 5.1 Licensee shall operate the Program, under a separate division of Licensee to be known as "American Finance, a division of Atlanta Internet Bank, FSB," or as otherwise denominated by Licensee after consultation with Licensor. Such division shall be operated and managed separately from the mortgage lending operations of Licensee. 5.2 Licensee will prominently use the Proprietary Marks, subject to specific prior review and approval by Licensor, in all aspects of the Program and otherwise, including, without limitation, in the operation of the Program in relation to prospective borrowers. 5.3 Licensee acknowledges the proprietary interest of Licensor in all information with respect to the System and Program. Licensee undertakes to comply with its obligations under the Agreement with respect to all Licensor Confidential Information, as defined in Section 8.4 below, and at no time to divulge, disclose, reference, or transfer to any other person such Licensor Confidential Information, including the identities of customers and related information or to use the same for any purpose other than its operations under the License, without the written consent of Licensor. 5.4 Except as otherwise required by law, all statements of any kind whatsoever by Licensee with regard to the System and Program shall identify Licensor as the sole owner and developer the System and Program. Licensee shall at no time or in any manner whatsoever claim or represent itself to have any rights or interest in the development or ownership of the System or Program, except as explicitly provided by this Agreement. 5.5 Licensee understands and acknowledges that the rights and duties set forth in this Agreement are solely related to Licensee, and that Licensor has granted this License in reliance on Licensee's business skill, financial capacity, and personal character. Accordingly, Licensee shall not, without prior written consent of Licensor, transfer, pledge, or in any way encumber either the rights and obligations of Licensee under this Agreement or any interest in the System or Program hereunder, except to a permitted assignee under Section 16.1

Duties of Licensee. 5.1 Licensee shall operate the Program, under a separate division of Licensee to be known as "American FinanceE-Loan, a division of Atlanta Internet Bank, FSBNet.B@nk," or as otherwise denominated by Licensee after consultation with Licensor. Such division shall be operated and managed separately from the mortgage lending operations of Licensee. 5.2 Licensee will prominently use the Proprietary Marks, subject to specific prior review and approval by Licensor, in all aspects of the Program and otherwise, including, without limitation, in the operation of the Program in relation to prospective borrowers. 5.3 Licensee acknowledges the proprietary interest of Licensor in all information with respect to the System and Program. Licensee undertakes to comply with its obligations under the Agreement with respect to all Licensor Confidential Information, as defined in Section 8.4 below, and at no time to divulge, disclose, reference, or transfer to any other person such Licensor Confidential Information, including the identities of customers and related information or to use the same for any purpose other than its operations under the License, without the written consent of Licensor. 5.4 Except as otherwise required by law, all statements of any kind whatsoever by Licensee with regard to the System and Program shall identify Licensor as the sole owner and developer the System and Program. Licensee shall at no time or in any manner whatsoever claim or represent itself to have any rights or interest in the development or ownership of the System or Program, except as explicitly provided by this Agreement. 5.5 Licensee understands and acknowledges that the rights and duties set forth in this Agreement are solely related to Licensee, and that Licensor has granted this License in reliance on Licensee's business skill, financial capacity, and personal character. Accordingly, Licensee shall not, without prior written consent of Licensor, transfer, pledge, or in any way encumber either the rights and obligations of Licensee under this Agreement or any interest in the System or Program hereunder, except to a permitted assignee under Section 16.1