Common use of Ownership and Use of Intellectual Property Clause in Contracts

Ownership and Use of Intellectual Property. Seller owns, or has the right to use pursuant to licenses, sublicenses, agreements, or permissions, all Intellectual Property used by the Business currently and as presently proposed to be conducted. The consummation of the transactions provided for under this Agreement will not result in the loss or impairment of any such Intellectual Property. Each item of Intellectual Property used by the Business will be owned or available for use by Buyer on identical terms and conditions immediately subsequent to the Closing Date. Seller has taken all necessary and desirable actions to maintain and protect each item of Intellectual Property used by the Business, including the making of all filings and recordations with respect to such Intellectual Property as required in order to maintain and protect its interests in such Intellectual Property.

Ownership and Use of Intellectual Property. Seller owns, or has the right to use pursuant to licenses, sublicenses, agreements, or permissions, all Intellectual Property used by the Business currently and as presently proposed to be conducted. The consummation of the transactions provided for under this Agreement will not result in the loss or impairment of any such Intellectual Property. Each item of Intellectual Property used by the Business will be owned or available for use by Buyer on identical terms and conditions immediately subsequent to the Closing Date. Seller has taken all necessary and desirable actions to maintain and protect each item of Intellectual Property used by the Business, including . Buyer acknowledges that Seller has not made any filing for the making protection of all filings and recordations with respect to such Intellectual Property as required in order to maintain and protect its interests in such Intellectual Property.