Common use of Duties of the Grantor Clause in Contracts

Duties of the Grantor. The Grantor shall have the duty, to the extent reasonably necessary in the normal conduct of the Grantor’s business, as determined in the reasonable discretion of the Grantor, to: (i) reasonably prosecute diligently any patent application that is part of the Patents pending as of the date hereof or hereafter until the termination of this Agreement, and (ii) apply for registration for unpatented but patentable inventions. The Grantor further agrees (i) not to abandon any Patent or License, to the extent reasonably necessary or otherwise desirable in the normal conduct of the Grantor’s business, as determined in the reasonable discretion of the Grantor, without the prior written consent of the Agent, which consent shall not be unreasonably withheld, and (ii) to use commercially reasonable efforts to maintain in full force and effect the Patents and the Licenses that are or shall be reasonably necessary or otherwise desirable, as determined in the Grantor’s reasonable discretion, in the operation of the Grantor’s business. Any expenses incurred in connection with the foregoing shall be borne by the Grantor. Neither the Agent nor any of the Holders of Secured Obligations shall have any duty with respect to the Patents and Licenses. Without limiting the generality of the foregoing, neither the Agent nor any of the Holders of Secured Obligations shall be under any obligation to take any steps necessary to preserve rights in the Patents or Licenses against any other parties, but the Agent may do so at its option from and after the occurrence and during the continuance of a Default, and all reasonable expenses incurred in connection therewith shall be for the sole account of the Grantor and shall be added to the Liabilities secured hereby.

Appears in 1 contract

Sources: Patent Security Agreement (Abx Air Inc)

Duties of the Grantor. The Subject to the second sentence of this Section 8, the Grantor shall have the duty, to the extent reasonably necessary in the normal conduct of the Grantor’s business, as determined in the reasonable discretion of the Grantor, to: duty (i) reasonably to prosecute diligently any patent application, trademark application or service mark ▇▇▇lication that is part of the Patents Trademarks pending as of the date hereof or hereafter until the termination of this Agreement, Agreement and (ii) apply to make any application for and diligently prosecute the registration for of (x) any trademark or service mark ▇▇▇t the Grantor has not created as of the date hereof which the Administrative Agent, after consultation with the Grantor, reasonably determines may have significant value and (y) any unpatented but patentable inventionsinvention. The Grantor further agrees (i) not to abandon any Patent Trademark or License, to the extent reasonably necessary or otherwise desirable in the normal conduct of the Grantor’s business, as determined in the reasonable discretion of the Grantor, License without the prior written consent of the Agent, which consent shall not be unreasonably withheldAdministrative Agent if such abandonment would have a Material Adverse Effect, and (ii) to use commercially its reasonable best efforts to obtain and maintain in full force and effect the Patents Patents, the Trademarks and the Licenses that are or shall be reasonably necessary or otherwise desirable, as determined in the Grantor’s reasonable discretion, economically desirable in the operation of the Grantor’s 's business. Any expenses incurred in connection with the foregoing shall be borne by the Grantor. Neither the Administrative Agent nor any of the Holders of Secured Obligations Lenders shall have any duty with respect to the Patents Patents, Trademarks and Licenses. Without limiting the generality of the foregoing, neither the Administrative Agent nor any of the Holders of Secured Obligations Lenders shall be under any obligation to take any steps necessary to preserve rights in the Patents Patents, the Trademarks or Licenses against any other parties, but the Administrative Agent may do so at its option from and after the occurrence and during the continuance of a an Event of Default, and all reasonable expenses incurred in connection therewith shall be for the sole account of the Grantor and shall be added to the Liabilities Obligations secured hereby. ---------------------- *To be included in Fluent, Inc.'s subsidiary intellectual property agreement.

Appears in 1 contract

Sources: Credit Agreement (Aavid Thermal Technologies Inc)

Duties of the Grantor. The Subject to the second sentence of this Section 8, the Grantor shall have the duty, to the extent reasonably necessary in the normal conduct of the Grantor’s business, as determined in the reasonable discretion of the Grantor, to: duty (i) reasonably to prosecute diligently any patent application, trademark application or service ▇▇▇▇ application that is part of the Patents Trademarks pending as of the date hereof or hereafter until the termination of this Agreement, Agreement and (ii) apply to make any application for and diligently prosecute the registration for of (x) any trademark or service ▇▇▇▇ that the Grantor has not created as of the date hereof which the Administrative Agent, after consultation with the Grantor, reasonably determines may have significant value and (y) any unpatented but patentable inventionsinvention. The Grantor further agrees (i) not to abandon any Patent Trademark or License, to the extent reasonably necessary or otherwise desirable in the normal conduct of the Grantor’s business, as determined in the reasonable discretion of the Grantor, License without the prior written consent of the Agent, which consent shall not be unreasonably withheldAdministrative Agent if such abandonment would have a Material Adverse Effect, and (ii) to use commercially its reasonable best efforts to obtain and maintain in full force and effect the Patents Patents, the Trademarks and the Licenses that are or shall be reasonably necessary or otherwise desirable, as determined in the Grantor’s reasonable discretion, economically desirable in the operation of the Grantor’s 's business. Any expenses incurred in connection with the foregoing shall be borne by the Grantor. Neither the Administrative Agent nor any of the Holders of Secured Obligations Lenders shall have any duty with respect to the Patents Patents, Trademarks and Licenses. Without limiting the generality of the foregoing, neither the Administrative Agent nor any of the Holders of Secured Obligations Lenders shall be under any obligation to take any steps necessary to preserve rights in the Patents Patents, the Trademarks or Licenses against any other parties, but the Administrative Agent may do so at its option from and after the occurrence and during the continuance of a an Event of Default, and all reasonable expenses incurred in connection therewith shall be for the sole account of the Grantor and shall be added to the Liabilities Obligations secured hereby.

Appears in 1 contract

Sources: Credit Agreement (Aavid Thermal Technologies Inc)

Duties of the Grantor. The Grantor shall have the duty, to the extent reasonably necessary in the normal conduct of the Grantor’s business, as determined in the reasonable discretion of the Grantor, to: duty (i) reasonably to prosecute diligently any patent material trademark application or service ▇▇▇▇ application that is part of the Patents Trademarks pending as of the date hereof or hereafter until the termination of this Agreement, Agreement and (ii) apply to make any application for and diligently prosecute the registration for unpatented but patentable inventionsof any trademark or service ▇▇▇▇ that the Grantor has not obtained as of the date hereof which the Agent, after consultation with the Grantor, reasonably determines may have significant value and to be registrable. The Grantor further agrees (i) not to abandon any Patent Trademark or License, to the extent reasonably necessary or otherwise desirable in the normal conduct of the Grantor’s business, as determined in the reasonable discretion of the Grantor, License without the prior written consent of the Agent, which consent shall not be unreasonably withheldAgent if such abandonment would have a Material Adverse Effect, and (ii) to use commercially its reasonable best efforts to obtain and maintain in full force and effect the Patents Trademarks and the Licenses that are or shall be reasonably necessary or otherwise desirable, as determined in the Grantor’s reasonable discretion, economically desirable in the operation of the Grantor’s 's business. Any expenses incurred in connection with the foregoing shall be borne by the Grantor. Neither the Agent nor any of the Holders of Secured Obligations Lenders shall have any duty with respect to the Patents Trademarks and Licenses. Without limiting the generality of the foregoing, neither the Agent nor any of the Holders of Secured Obligations Lenders shall be under any obligation to take any steps necessary to preserve rights in the Patents Trademarks or Licenses against any other parties, but the Agent may do so at its option from and after the occurrence and during the continuance of a an Event of Default, and all reasonable expenses incurred in connection therewith shall be for the sole account of the Grantor and shall be added to the Liabilities Obligations secured hereby.

Appears in 1 contract

Sources: Intellectual Property Security Agreement (Oro Spanish Broadcasting Inc)

Duties of the Grantor. The Grantor shall have the duty, to the extent reasonably necessary desirable in the normal conduct of the Grantor’s 's business, as determined in the reasonable discretion of the Grantor, to: (i) reasonably prosecute diligently any material patent application that is part of the Patents pending as of the date hereof or hereafter until the termination of this Agreement, and (ii) apply for registration for make application on unpatented but patentable inventions. The Grantor further agrees (i) not to abandon any Patent or License, License if such abandonment could reasonably be expected to the extent reasonably necessary or otherwise desirable in the normal conduct of the Grantor’s business, as determined in the reasonable discretion of the Grantor, have a Material Adverse Effect without the prior written consent of the Collateral Agent, which consent shall not be unreasonably withheld, and (ii) to use commercially its reasonable best efforts to obtain and maintain in full force and effect the Patents and the Licenses that are or shall be reasonably necessary or otherwise desirable, as determined in the Grantor’s reasonable discretion, economically desirable in the operation of the Grantor’s 's business. Any expenses incurred in connection with the foregoing shall be borne by the Grantor. Neither the Agent nor any None of the Holders of Secured Obligations Agents or the Lenders shall have any duty with respect to the Patents and Licenses. Without limiting the generality of the foregoing, neither the Agent nor any none of the Holders of Secured Obligations Agents or the Lenders shall be under any obligation to take any steps necessary to preserve rights in the Patents or Licenses against any other parties, but the Collateral Agent may do so at its option from and after the occurrence and during the continuance of a an Event of Default, and all reasonable expenses incurred in connection therewith shall be for the sole account of the Grantor and shall be added to the Liabilities secured hereby.

Appears in 1 contract

Sources: Credit Agreement (Stellex Industries Inc)

Duties of the Grantor. The Grantor shall have the duty, to the extent reasonably necessary in the normal conduct of the Grantor’s business, as determined in the reasonable discretion of the Grantor, to: (i) reasonably prosecute diligently any patent trademark application or service ▇▇▇▇ application that is part of the Patents Trademarks pending as of the date hereof or hereafter until the termination of this Agreement, and (ii) apply for registration for unpatented but patentable inventionstrademarks or service marks. The Grantor further agrees (i) not to abandon any Patent Trademark or License, License to the extent such Trademark or License is reasonably necessary or otherwise desirable in the normal conduct of the Grantor’s business, as determined in the reasonable discretion of the Grantor, without the prior written consent of the Agent, which consent shall not be unreasonably withheld, and (ii) to use commercially reasonable efforts to maintain in full force and effect the Patents Trademarks and the Licenses that are or shall be reasonably necessary or otherwise desirable, as determined in the Grantor’s reasonable discretion, in the operation of the Grantor’s business. Any expenses incurred in connection with the foregoing shall be borne by the Grantor. Neither the Agent nor any of the Holders of Secured Obligations shall have any duty with respect to the Patents Trademarks and Licenses. Without limiting the generality of the foregoing, neither the Agent nor any of the Holders of Secured Obligations shall be under any obligation to take any steps necessary to preserve rights in the Patents Trademarks or Licenses against any other parties, but the Agent may do so at its option from and after the occurrence and during the continuance of a Default, and all reasonable expenses incurred in connection therewith shall be for the sole account of the Grantor and shall be added to the Liabilities secured hereby.

Appears in 1 contract

Sources: Trademark Security Agreement (Abx Air Inc)