Common use of Transfer of Licensed Property Clause in Contracts

Transfer of Licensed Property. The parties hereby agree that, effective as of the date that full and complete payment is made by LICENSEE to LICENSOR of $78,759.00 (Seventy Eight Thousand Seven Hundred Fifty Nine Dollars), which is the balance of the money owed to LICENSOR with respect to the creation of the brands related to LICENSEE’s Business, LICENSOR shall forever sell, assign, transfer, release and convey to LICENSEE, and its successors and assigns, LICENSOR’s entire right, title and interest in and to all copyrights, service and/or trade marks, all rights of authorship and all other intellectual property rights in the Licensed Property and all physical embodiments and copies thereof. The foregoing transfer shall take place automatically and, except as otherwise provided in this Section 2.2, without any further action required on the part of either party hereto. LICENSOR further agrees, promptly upon request of the LICENSEE, or any of its successors or assigns, to execute and deliver, without further compensation of any kind, any power of attorney, assignment, application for copyright, service or trademark, patent or other intellectual property right protection, or any other documents which may be necessary or desirable to fully secure to LICENSEE, its successors and assigns, all right, title and interest in and to the Licensed Property and all physical embodiments and copies thereof, and to cooperate and assist in the prosecution of any opposition proceedings involving said rights and any adjudication of the same. Further, following the transfer of the Licensed Property to LICENSEE pursuant to this Section 2.2, LICENSOR agrees never to assert any claims, rights or moral rights in or to the Licensed Property or any physical embodiments or copies thereof.

Transfer of Licensed Property. The parties hereby agree that, effective as of the date that full and complete payment is made by LICENSEE to LICENSOR of $78,759.00 (Seventy Eight Thousand Seven Hundred Fifty Nine Dollars), which is the balance of the money owed to LICENSOR with respect to the creation of the brands related to LICENSEE’s Business, LICENSOR shall forever sell, assign, transfer, release and convey to LICENSEE, and its successors and assigns, LICENSOR’s 's entire right, title and interest in and to all copyrights, service and/or trade marks, all rights of authorship and all other intellectual property rights in the Licensed Property and all physical embodiments and copies thereof. The foregoing transfer shall take place automatically and, except as otherwise provided in this Section 2.2, without any further action required on the part of either party hereto. LICENSOR further agrees, promptly upon request of the LICENSEE, or any of its successors or assigns, to execute and deliver, without further compensation of any kind, any power of attorney, assignment, application for copyright, service or trademark, patent or other intellectual property right protection, or any other documents which may be necessary or desirable to fully secure to LICENSEE, its successors and assigns, all right, title and interest in and to the Licensed Property and all physical embodiments and copies thereof, and to cooperate and assist in the prosecution of any opposition proceedings involving said rights and any adjudication of the same. Further, following the transfer of the Licensed Property to LICENSEE pursuant to this Section 2.2, LICENSOR agrees never to assert any claims, rights or moral rights in or to the Licensed Property or any physical embodiments or copies thereof.