Common use of Rights and Ownership Clause in Contracts

Rights and Ownership. The Management Company acknowledges that the Owner is the sole and exclusive owner of all right, title, and interest in and to its Marks, including those licensed under this Agreement, as well as to all combinations, forms, and derivatives thereof, the use of which must be approved by the Owner in advance. The Management Company further acknowledges, represents, and warrants that it has not acquired and will not acquire (whether by operation of law, by this Agreement, or otherwise) any right, title, interest, or ownership (collectively “Ownership Rights”) in or to any National Park Service Marks or any part thereof. Should any Ownership Rights become vested in the Management Company, the Management Company agrees to assign, and hereby assigns, all such Ownership Rights to the Owner free of consideration. The Management Company must immediately provide and execute all documents reasonably requested by the Owner to effectuate and record each such assignment. The Management Company will not, during the Term or at any time thereafter, do anything which, in the Owner’s sole judgment, could in any way damage the validity and subsistence of the Marks. The Management Company will not attack, dispute, or challenge the Owner’s Ownership Rights in or to the Marks or the validity of this Agreement, nor will the Management Company assist others in so doing.

Rights and Ownership. The Management Company acknowledges that the Owner is the sole and exclusive owner of all right, title, and interest in and to its Marks, including those licensed under this Agreement, as well as to all combinations, forms, and derivatives thereof, the use of which must be approved by the Owner in advance. The Management Company further acknowledges, represents, and warrants that it has not acquired and will not acquire (whether by operation of law, by this Agreement, or otherwise) any right, title, interest, or ownership (collectively “Ownership Rights”) in or to any National Park Service Marks or any part thereof. Should any Ownership Rights become vested in the Management Company, the Management Company agrees to assign, and hereby assigns, all such Ownership Rights to the Owner free of consideration. The Management Company must immediately provide and execute all documents reasonably requested by the Owner to effectuate and record each such assignment. The Management Company will not, during the Term or at any time thereafter, do anything which, in the Owner’s sole judgment, could in any way damage the validity and subsistence of the Marks. The Management Company will not attack, dispute, or challenge the Owner’s Ownership Rights in or to the Marks or the validity of this Agreement, nor will the Management Company assist others in so doing.doing.‌