IBM reserves Sample Clauses
IBM reserves a purchase money security interest in Products purchased under this Agreement in the amount of the price and in Buyer's proceeds from the same, including, without limitation, accounts receivable. Purchase money security interests will be satisfied by payment in full. Buyer agrees to execute UCC-1 financing statements or other appropriate documents to be filed in order to perfect IBM's security interest.
IBM reserves and retains for the benefit of itself and its Subsidiaries and its and their successors and assigns, an irrevocable, nonexclusive, worldwide, fully paid-up, royalty free, right and license under the Assigned Patents and Exhibit J Patents, to make, have made, use, have used, import, have imported, license, offer to sell, sell, lease, and otherwise transfer any product or service, and to practice and have practiced any method. Such reserved right and license includes the right to grant, without notice or accounting, sublicenses and releases of the same or lesser scope to: (a) any entities that are on the Effective Time & Date, or thereafter become, a Subsidiary of IBM or a Subsidiary of one of IBM’s Subsidiaries, such sublicenses including the right of sublicensed Subsidiaries to sublicense their Subsidiaries and surviving in the event any such Subsidiary is Spun Out and ceases to be a Subsidiary of IBM; (b) any third parties with respect to which IBM or any of its Subsidiaries has or incurs a duty or obligation to grant or otherwise provide a license, immunity, covenant not to ▇▇▇, or similar right under any Assigned Patents and Exhibit J Patents, where such duty or obligation is based upon any agreement existing prior to the Effective Time & Date or upon any promise, representation, conduct or action occurring prior to the Effective Time & Date, but only to the extent necessary to meet the pre-existing duty or obligation; and (c) any third parties to which, on or after the Effective Time & Date, IBM or any of its Subsidiaries transfers a Non-Designated Product or a Designated Product where the Designated Product has either:
a) been in existence at least 3 (three) years prior to any transfer of said product line, service line or Subsidiary to a third party; or
IBM reserves the right to request collateral, to the satisfaction of IBM (any amounts of Chartered's Prepaid Capacity Deposit still remaining at the time IBM makes such request can serve as a portion of such collateral), for IBM's Prepaid Capacity Deposit and Supplemental Prepaid Capacity Deposit in the event that prior to the time IBM is obligated to make any installment payments of either IBM's Prepaid Capacity Deposit or the Supplemental Prepaid Capacity Deposit, Chartered's Dun & Bradstreet risk rating falls below a rating of RI3. If Chartered is unable or unwilling to provide collateral satisfactory to IBM, then IBM shall have the right to forgo making any or all payments set forth in Section 3.1 or if any such payments have been made, IBM may request immediate repayment of all remaining amounts of the IBM Prepaid Capacity Deposit and Supplemental Prepaid Capacity Deposit, notwithstanding any provision to the contrary.