Common use of Use of Intellectual Property Clause in Contracts

Use of Intellectual Property. Subject to such action not otherwise constituting an Event of Default and so long as no Event of Default shall have occurred and be continuing, the Company will be permitted to exploit, use, enjoy, protect, license, sublicense, assign, sell, dispose of or take other actions with respect to the Intellectual Property in the ordinary course of the business of the Company. In furtherance of the foregoing, so long as no Event of Default shall have occurred and be continuing, Agent shall from time to time, upon the request of the Company, execute and deliver any instruments, certificates or other documents, in the form so requested, which the Company shall have certified are appropriate (in its judgment) to allow it to take any action permitted above (including relinquishment of the license provided pursuant to SECTION 2.02 as to any specific Intellectual Property). The exercise of rights, remedies, powers and privileges under SECTION 6 by Agent shall not terminate the rights of the holders of any licenses or sublicenses theretofore granted by the Company in accordance with the first sentence of this SECTION 2.07.

Appears in 2 contracts

Sources: Securities Purchase Agreement (Telscape International Inc), Securities Purchase Agreement (Telscape International Inc)

Use of Intellectual Property. Subject to such action not otherwise constituting an Event of a Default and so long as no Event of Default shall have occurred and be continuing, the Company will be permitted to exploit, use, enjoy, protect, license, sublicense, assign, sell, dispose of or take other actions with respect to the Intellectual Property in the ordinary course of the business of the Company. In furtherance of the foregoing, so long as no Event of Default shall have occurred and be continuing, Agent the Trustee shall from time to time, upon the request of the Company, execute and deliver any instruments, certificates or other documents, in the form so requested, which the such Company shall have certified are appropriate (in its judgment) to allow it them to take any action permitted above (including relinquishment of the license provided pursuant to SECTION Section 2.02 as to any specific Intellectual Property). The exercise of rights, remedies, powers and privileges under SECTION 6 Section 5 by Agent the Trustee shall not terminate the rights of the holders of any licenses or sublicenses theretofore granted by the Company in accordance with the first sentence of this SECTION 2.07Section 2.06.

Appears in 2 contracts

Sources: Security Agreement (Nu Tech Bio Med Inc), Security Agreement (Physicians Clinical Laboratory Inc)

Use of Intellectual Property. Subject to such action not otherwise constituting an Event of a Default and so long as no Event of Default shall have occurred and be continuing, the Company will be permitted to exploit, use, enjoy, protect, license, sublicense, assign, sell, dispose of or take other actions with respect to the Intellectual Property in the ordinary course of the business of the Company. In furtherance of the foregoing, so long as no Event of Default shall have occurred and be continuing, the Agent shall from time to time, upon the request of the Company, execute and deliver any instruments, certificates or other documents, in the form so requested, which the such Company shall have certified are appropriate (in its judgment) to allow it them to take any action permitted above (including relinquishment of the license provided pursuant to SECTION 2.02 Section 2.2 as to any specific Intellectual Property). The exercise of rights, remedies, powers and privileges under SECTION 6 Section 5 by the Agent shall not terminate the rights of the holders of any licenses or sublicenses theretofore granted by the Company in accordance with the first sentence of this SECTION 2.07Section 2.6.

Appears in 1 contract

Sources: Security Agreement (Physicians Clinical Laboratory Inc)

Use of Intellectual Property. Subject to such action not otherwise constituting an Event of a Default and so long as no Event of Default shall have occurred and be continuing, the Company will be permitted to exploit, use, enjoy, protect, license, sublicense, assign, sell, dispose of or take other actions with respect to the Intellectual Property in the ordinary course of the business of the Company. In furtherance of the foregoing, so long as no Event of Default shall have occurred and be continuing, the Administrative Agent shall from time to time, upon the request of the Company, execute and deliver any instruments, certificates or other documents, in the form so requested, which the Company shall have certified are appropriate (in its judgment) to allow it to take any action permitted above (including relinquishment of the license provided pursuant to SECTION Section 2.02 as to any specific Intellectual Property). The exercise of rights, remedies, powers and privileges under SECTION Section 6 by the Administrative Agent shall not terminate the rights of the holders of any licenses or sublicenses theretofore granted by the Company in accordance with the first sentence of this SECTION 2.07Section 2.06.

Appears in 1 contract

Sources: Credit Agreement (Kash N Karry Food Stores Inc)

Use of Intellectual Property. Subject to such action not otherwise constituting an Event of Default and so So long as no Event of Default shall have occurred and be continuing, the Company will be permitted to exploit, use, enjoy, protect, license, sublicense, assign, sell, dispose of or take other actions with respect to the Intellectual Property in the ordinary course of the business of the Company. In furtherance of the foregoing, so long as no Event of Default shall have occurred and be continuing, Agent the Bank shall from time to time, upon the request of the Company, execute and deliver any instruments, certificates or other documents, in the form so requested, which the Company shall have certified are appropriate (in its judgment) to allow it to take any action permitted above (including relinquishment of the license provided pursuant to SECTION 2.02 Section 2.2 as to any specific Intellectual Property). The exercise of rights, remedies, powers and privileges under SECTION Section 6 by Agent the Bank shall not terminate the rights of the holders of any licenses or sublicenses theretofore granted by the Company in accordance with the first sentence of this SECTION 2.07Section 2.6.

Appears in 1 contract

Sources: Security Agreement (Iomega Corp)