Material Property. (a) The Borrower shall not, nor shall it permit any Subsidiary to sell, transfer or otherwise dispose of any Material Property (whether pursuant to a sale, lease, license, transfer, investment, restricted payment, dividend or otherwise) to any Person that is either (x) a Subsidiary that is not a Loan Party or (y) an Affiliate of the Borrower (other than a Subsidiary), other than the grant of a non-exclusive license of intellectual property to any Subsidiary in the ordinary course of business for a bona fide business purpose. (b) No Person that is either (x) a Subsidiary that is not a Loan Party or (y) an Affiliate of the Borrower (other than a Subsidiary) shall own or hold an exclusive license to any Material Property.
Appears in 3 contracts
Sources: Super Priority Credit Agreement (WideOpenWest, Inc.), Super Priority Credit Agreement (WideOpenWest, Inc.), Credit Agreement (WideOpenWest, Inc.)