Common use of GRANT OF LICENSE TO USE INTELLECTUAL PROPERTY COLLATERAL Clause in Contracts

GRANT OF LICENSE TO USE INTELLECTUAL PROPERTY COLLATERAL. Each Corporate Credit Party hereby grants to Lender an irrevocable, non-exclusive license (exercisable upon the occurrence and during the continuance of an Event of Default) without payment of royalty or other compensation to any Corporate Credit Party to use, transfer, license or sublicense any Intellectual Property now owned, licensed to, or hereafter acquired by any Corporate Credit Party, and wherever the same may be located, and including in such license access to all media in which any of the licensed items may be recorded or stored and to all computer software and programs used for the compilation or printout thereof, and represents, promises and agrees that any such license or sublicense is not and will not be in conflict with the contractual or commercial rights of any third Person; provided, that such license will terminate on the Termination Date.

GRANT OF LICENSE TO USE INTELLECTUAL PROPERTY COLLATERAL. Each Corporate Credit Party Borrower hereby grants to Lender an irrevocable, non-exclusive license (exercisable upon the occurrence and during the continuance of an Event of Default) without payment of royalty or other compensation to any Corporate Credit Party Borrower to use, transfer, license or sublicense any Intellectual Property now owned, licensed to, or hereafter acquired by any Corporate Credit PartyBorrower, and wherever the same may be located, and including in such license access to all media in which any of the licensed items may be recorded or stored and to all computer software and programs used for the compilation or printout thereof, and represents, promises and agrees that any such license or sublicense is not and will not be in conflict with the contractual or commercial rights of any third Person; provided, that such license will terminate on the Termination Date.

GRANT OF LICENSE TO USE INTELLECTUAL PROPERTY COLLATERAL. Each Corporate Credit Party Borrower hereby grants to Lender Administrative Agent an irrevocable, non-exclusive license (exercisable upon the occurrence and during the continuance of an Event of Default) Default without payment of royalty or other compensation to any Corporate Credit Party such Borrower) to use, transfer, license or sublicense any Intellectual Property now owned, licensed to, or hereafter acquired by any Corporate Credit Partysuch Borrower, and wherever the same may be located, and including in such license access to all media in which any of the licensed items may be recorded or stored and to all computer software and programs used for the compilation or printout thereof, and represents, promises and agrees that any such license or sublicense is not and will not be in conflict with the contractual or commercial rights of any third Person; provided, provided that such license will terminate on the Termination Date.