Common use of Material Intellectual Property Clause in Contracts

Material Intellectual Property. No Obligor shall, nor shall any Obligor permit any Subsidiary (other than an Excluded Subsidiary) to, enter into any arrangement, directly or indirectly, with any Excluded Subsidiary whereby such Obligor or such Subsidiary shall sell, transfer, lease or otherwise dispose of (whether in one transaction or in a series of transactions), to an Excluded Subsidiary any Intellectual Property, whether now owned or hereafter acquired, that is material to the business of the Borrower and its Subsidiaries (other than Excluded Subseries), taken as a whole.

Material Intellectual Property. No Obligor shall, nor not shall any Obligor permit any Subsidiary (other than an Excluded Subsidiary) to, enter into any arrangement, directly or indirectly, with any Excluded Subsidiary whereby such Obligor or such Subsidiary shall sell, transfer, lease or otherwise dispose of (whether in one transaction or in a series of transactions), to an Excluded Subsidiary any Intellectual Property, whether now owned or hereafter acquired, that is material to the business of the Borrower and its Subsidiaries (other than Excluded SubseriesSubsidiaries), taken as a whole.