Common use of Security Interest in Copyrights Clause in Contracts

Security Interest in Copyrights. To secure the complete and timely ------------------------------- payment, performance and satisfaction of all of the Liabilities of Borrower, Borrower hereby grants to Lender a security interest in, as and by way of a first mortgage and security interest having priority over all other security interests, with power of sale to the extent permitted by applicable law, all of Borrower's now owned or existing and hereafter acquired or arising: (B) copyright and mask work licenses, including each copyright and mask work license referred to in Schedule B hereto, the right to ▇▇▇ for ---------- past, present and future infringements of any thereof, all rights corresponding thereto throughout the world, all extensions and renewals of any thereof and all proceeds of the foregoing, including, without limitation, licenses, royalties, income, payments, claims, damages and proceeds of suit (all of the foregoing are hereinafter referred to collectively as the "Licenses"). Notwithstanding the foregoing provisions -------- of this paragraph 4(B), the Licenses shall not include any license -------------- agreement in effect as of the date hereof which by its terms prohibits the grant of the security contemplated by this Agreement; provided, however, -------- ------- that upon the termination of such prohibitions for any reason whatsoever, the provisions of this paragraph 4 shall be deemed to apply thereto ----------- automatically.

Security Interest in Copyrights. To secure the complete and ------------------------------- timely ------------------------------- payment, performance and satisfaction of all of the Liabilities of Borrower, Borrower hereby grants to Lender a security interest in, as and by way of a first mortgage and security interest having priority over all other security interests, with power of sale to the extent permitted by applicable law, all of Borrower's now owned or existing and hereafter acquired or arising: (B) copyright and mask work licenses, including each copyright and mask work license referred to in Schedule B hereto, the right to ▇▇▇ for ---------- past, present and future infringements of any thereof, all rights corresponding thereto throughout the world, all extensions and renewals of any thereof and all proceeds of the foregoing, including, without limitation, licenses, royalties, income, payments, claims, damages and proceeds of suit (all of the foregoing are hereinafter referred to collectively as the "Licenses"). Notwithstanding the foregoing provisions -------- of this paragraph 4(B), the Licenses shall not include any license -------------- agreement in effect as of the date hereof which by its terms prohibits the grant of the security contemplated by this Agreement; provided, however, -------- ------- that upon the termination of such prohibitions for any reason whatsoever, the provisions of this paragraph 4 shall be deemed to apply thereto ----------- automatically.. -----------