Common use of Duties of the Grantor Clause in Contracts

Duties of the Grantor. The Grantor shall have the duty, to the extent desirable in the normal conduct of the Grantor's business, to: (i) prosecute diligently any material patent application that is part of the Patents pending as of the date hereof or hereafter until the termination of this Agreement, and (ii) make application on unpatented but patentable inventions. The Grantor further agrees (i) not to abandon any Patent or License if such abandonment could reasonably be expected to have a Material Adverse Effect without the prior written consent of the Collateral Agent, and (ii) to use its reasonable best efforts to obtain and maintain in full force and effect the Patents and the Licenses that are or shall be necessary or economically desirable in the operation of the Grantor's business. Any expenses incurred in connection with the foregoing shall be borne by the Grantor. None of the Agents or the Lenders shall have any duty with respect to the Patents and Licenses. Without limiting the generality of the foregoing, none of the Agents or the Lenders shall be under any obligation to take any steps necessary to preserve rights in the Patents or Licenses against any other parties, but the Collateral Agent may do so at its option from and after the occurrence of an Event of Default, and all expenses incurred in connection therewith shall be for the sole account of the Grantor and shall be added to the Liabilities secured hereby.

Appears in 1 contract

Samples: Credit Agreement (Stellex Industries Inc)

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Duties of the Grantor. The Grantor shall have the dutyshall, to the extent desirable deemed reasonable in the Grantor’s business judgment in the normal conduct of the Grantor's its business, to: (i) prosecute diligently any material patent trademark application or service xxxx application that is part of the Patents Trademarks pending as of the date hereof or hereafter until the termination of this Agreement, and (ii) make application on unpatented but patentable inventions. The Grantor further agrees (i) other than in the ordinary course of its business and consistent with past practice, not to abandon any Patent or License if such abandonment could reasonably be expected to have a Material Adverse Effect material Trademark without the prior written consent of the Collateral Agent, and (ii) to use its reasonable best efforts to obtain and maintain in full force and effect the Patents and the Licenses Trademarks that are or shall be necessary or economically desirable material in the operation of the Grantor's its business. Any expenses incurred in connection with the foregoing shall be borne by the Grantor. None of the Agents or the Lenders The Agent shall not have any duty, other than any duty imposed by law, with respect to the Patents and LicensesTrademarks. Without limiting the generality of the foregoing, none neither the Agent nor any of the Agents Lenders or the Lenders Issuing Banks shall be material under any obligation to take any steps necessary to preserve rights in the Patents or Licenses Trademarks against any other parties, but the Collateral Agent may do so at its option from and after during the occurrence continuation of an Event of Default, and all reasonable expenses incurred in connection therewith shall be for the sole account of the Grantor and shall be added to the Liabilities Obligations secured hereby.

Appears in 1 contract

Samples: Trademark Security Agreement (El Pollo Loco, Inc.)

Duties of the Grantor. The Grantor shall have the duty, to the extent desirable in the normal conduct of the Grantor's business, to: duty (i) to prosecute diligently any material patent trademark application or service xxxx application that is part of the Patents Trademarks pending as of the date hereof or hereafter until the termination of this Agreement, Agreement and (ii) to make any application on unpatented but patentable inventionsfor and diligently prosecute the registration of any trademark or service xxxx that the Grantor has not obtained as of the date hereof which the Agent, after consultation with the Grantor, reasonably determines may have significant value and to be registrable. The Grantor further agrees (i) not to abandon any Patent Trademark or License if such abandonment could reasonably be expected to have a Material Adverse Effect without the prior written consent of the Collateral AgentAgent if such abandonment would have a Material Adverse Effect, and (ii) to use its reasonable best efforts to obtain and maintain in full force and effect the Patents Trademarks and the Licenses that are or shall be necessary or economically desirable in the operation of the Grantor's business. Any expenses incurred in connection with the foregoing shall be borne by the Grantor. None Neither the Agent nor any of the Agents or the Lenders shall have any duty with respect to the Patents Trademarks and Licenses. Without limiting the generality of the foregoing, none neither the Agent nor any of the Agents or the Lenders shall be under any obligation to take any steps necessary to preserve rights in the Patents Trademarks or Licenses against any other parties, but the Collateral Agent may do so at its option from and after the occurrence of an Event of Default, and all expenses incurred in connection therewith shall be for the sole account of the Grantor and shall be added to the Liabilities Obligations secured hereby.

Appears in 1 contract

Samples: Intellectual Property Security Agreement (Oro Spanish Broadcasting Inc)

Duties of the Grantor. The Subject to the second sentence of this Section 8, the Grantor shall have the duty, to the extent desirable in the normal conduct of the Grantor's business, to: duty (i) to prosecute diligently any material patent application, trademark application or service xxxx application that is part of the Patents Trademarks pending as of the date hereof or hereafter until the termination of this Agreement, Agreement and (ii) to make any application on for and diligently prosecute the registration of (x) any trademark or service xxxx that the Grantor has not created as of the date hereof which the Administrative Agent, after consultation with the Grantor, reasonably determines may have significant value and (y) any unpatented but patentable inventionsinvention. The Grantor further agrees (i) not to abandon any Patent Trademark or License if such abandonment could reasonably be expected to have a Material Adverse Effect without the prior written consent of the Collateral AgentAdministrative Agent if such abandonment would have a Material Adverse Effect, and (ii) to use its reasonable best efforts to obtain and maintain in full force and effect the Patents Patents, the Trademarks and the Licenses that are or shall be necessary or economically desirable in the operation of the Grantor's business. Any expenses incurred in connection with the foregoing shall be borne by the Grantor. None Neither the Administrative Agent nor any of the Agents or the Lenders shall have any duty with respect to the Patents Patents, Trademarks and Licenses. Without limiting the generality of the foregoing, none neither the Administrative Agent nor any of the Agents or the Lenders shall be under any obligation to take any steps necessary to preserve rights in the Patents Patents, the Trademarks or Licenses against any other parties, but the Collateral Administrative Agent may do so at its option from and after the occurrence of an Event of Default, and all expenses incurred in connection therewith shall be for the sole account of the Grantor and shall be added to the Liabilities Obligations secured hereby.

Appears in 1 contract

Samples: Credit Agreement (Aavid Thermal Technologies Inc)

Duties of the Grantor. The Subject to the second sentence of this Section 8, the Grantor shall have the duty, to the extent desirable in the normal conduct of the Grantor's business, to: duty (i) to prosecute diligently any material patent application, trademark application or service mark xxxlication that is part of the Patents Trademarks pending as of the date hereof or hereafter until the termination of this Agreement, Agreement and (ii) to make any application on for and diligently prosecute the registration of (x) any trademark or service mark xxxt the Grantor has not created as of the date hereof which the Administrative Agent, after consultation with the Grantor, reasonably determines may have significant value and (y) any unpatented but patentable inventionsinvention. The Grantor further agrees (i) not to abandon any Patent Trademark or License if such abandonment could reasonably be expected to have a Material Adverse Effect without the prior written consent of the Collateral AgentAdministrative Agent if such abandonment would have a Material Adverse Effect, and (ii) to use its reasonable best efforts to obtain and maintain in full force and effect the Patents Patents, the Trademarks and the Licenses that are or shall be necessary or economically desirable in the operation of the Grantor's business. Any expenses incurred in connection with the foregoing shall be borne by the Grantor. None Neither the Administrative Agent nor any of the Agents or the Lenders shall have any duty with respect to the Patents Patents, Trademarks and Licenses. Without limiting the generality of the foregoing, none neither the Administrative Agent nor any of the Agents or the Lenders shall be under any obligation to take any steps necessary to preserve rights in the Patents Patents, the Trademarks or Licenses against any other parties, but the Collateral Administrative Agent may do so at its option from and after the occurrence of an Event of Default, and all expenses incurred in connection therewith shall be for the sole account of the Grantor and shall be added to the Liabilities Obligations secured hereby. ---------------------- *To be included in Fluent, Inc.'s subsidiary intellectual property agreement.

Appears in 1 contract

Samples: Credit Agreement (Aavid Thermal Technologies Inc)

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Duties of the Grantor. The Grantor shall have the duty, to the extent desirable reasonably necessary in the normal conduct of the Grantor's ’s business, as determined in the reasonable discretion of the Grantor, to: (i) reasonably prosecute diligently any material patent trademark application or service xxxx application that is part of the Patents Trademarks pending as of the date hereof or hereafter until the termination of this Agreement, and (ii) make application on unpatented but patentable inventionsapply for registration for trademarks or service marks. The Grantor further agrees (i) not to abandon any Patent Trademark or License if to the extent such abandonment could Trademark or License is reasonably be expected to have a Material Adverse Effect necessary or otherwise desirable in the normal conduct of the Grantor’s business, as determined in the reasonable discretion of the Grantor, without the prior written consent of the Collateral Agent, which consent shall not be unreasonably withheld, and (ii) to use its commercially reasonable best efforts to obtain and maintain in full force and effect the Patents Trademarks and the Licenses that are or shall be reasonably necessary or economically desirable otherwise desirable, as determined in the Grantor’s reasonable discretion, in the operation of the Grantor's ’s business. Any expenses incurred in connection with the foregoing shall be borne by the Grantor. None Neither the Agent nor any of the Agents or the Lenders Holders of Secured Obligations shall have any duty with respect to the Patents Trademarks and Licenses. Without limiting the generality of the foregoing, none neither the Agent nor any of the Agents or the Lenders Holders of Secured Obligations shall be under any obligation to take any steps necessary to preserve rights in the Patents Trademarks or Licenses against any other parties, but the Collateral Agent may do so at its option from and after the occurrence and during the continuance of an Event of a Default, and all reasonable expenses incurred in connection therewith shall be for the sole account of the Grantor and shall be added to the Liabilities secured hereby.

Appears in 1 contract

Samples: Trademark Security Agreement (Abx Air Inc)

Duties of the Grantor. The Grantor shall have the duty, to the extent desirable reasonably necessary in the normal conduct of the Grantor's ’s business, as determined in the reasonable discretion of the Grantor, to: (i) reasonably prosecute diligently any material patent application that is part of the Patents pending as of the date hereof or hereafter until the termination of this Agreement, and (ii) make application on apply for registration for unpatented but patentable inventions. The Grantor further agrees (i) not to abandon any Patent or License if such abandonment could License, to the extent reasonably be expected to have a Material Adverse Effect necessary or otherwise desirable in the normal conduct of the Grantor’s business, as determined in the reasonable discretion of the Grantor, without the prior written consent of the Collateral Agent, which consent shall not be unreasonably withheld, and (ii) to use its commercially reasonable best efforts to obtain and maintain in full force and effect the Patents and the Licenses that are or shall be reasonably necessary or economically desirable otherwise desirable, as determined in the Grantor’s reasonable discretion, in the operation of the Grantor's ’s business. Any expenses incurred in connection with the foregoing shall be borne by the Grantor. None Neither the Agent nor any of the Agents or the Lenders Holders of Secured Obligations shall have any duty with respect to the Patents and Licenses. Without limiting the generality of the foregoing, none neither the Agent nor any of the Agents or the Lenders Holders of Secured Obligations shall be under any obligation to take any steps necessary to preserve rights in the Patents or Licenses against any other parties, but the Collateral Agent may do so at its option from and after the occurrence and during the continuance of an Event of a Default, and all reasonable expenses incurred in connection therewith shall be for the sole account of the Grantor and shall be added to the Liabilities secured hereby.

Appears in 1 contract

Samples: Patent Security Agreement (Abx Air Inc)

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