Common use of Nothing in Section Clause in Contracts

Nothing in Section. 2.1 shall be construed as a grant of a security interest by the Borrower in any Intellectual Property licensed to the Borrower as licensee or any License in which, as a matter of law or by its terms, the Borrower may not grant a security interest without the consent or authorization of the licensor unless such consent or authorization has been obtained. To the extent that the creation of the Security Interest would constitute a breach or permit the acceleration of any License to which the Borrower is a party, the Security Interest shall not attach to the Intellectual Property licensed thereby or to the License, but the Borrower shall hold its interest therein in trust for the Lender and shall use its best efforts to obtain the consent of the other party thereto. Upon the Borrower obtaining the consent of such other party, the Security Interest shall be deemed to have automatically attached to such Intellectual Property and License.