Common use of Sufficiency of Intellectual Property Clause in Contracts

Sufficiency of Intellectual Property. The EMP Group Companies own and have the legal and beneficial right, title and interest in or have valid and enforceable rights to use all material Intellectual Property that is necessary to conduct the Business as presently conducted. The execution of this Agreement and consummation of the transactions contemplated hereunder will not result in the termination or any material alteration of the EMP Group Companies’ rights or title to or interest in any Material IP Rights, and will not immediately following such consummation result in any licenses, encumbrances, liens, pledges, assignments or other rights being granted under or imposed on any Material IP Rights.