Common use of Transferred Intellectual Property Clause in Contracts

Transferred Intellectual Property. The domain names constituting a portion of the Transferred Intellectual Property have been duly registered with a duly accredited and appropriate domain name registrar and such registration remains in full force and effect as of the Closing Date. With regards to the Business and the Purchased Assets, there are no pending or, to Sellers’ knowledge, threatened claims by any Person or Governmental Authority of a violation, infringement, misuse or misappropriation by Sellers of any intellectual property owned by any third party, or of the invalidity of any registration of any domain name included in the Transferred Intellectual Property, nor, to Sellers’ knowledge, is there any valid basis for any such claims.