Common use of New Patent Applications Clause in Contracts

New Patent Applications. The Issuer shall procure that all New Patent applications owned by the Issuer or a Subsidiary of the Issuer incorporated or organized in the United Kingdom or under the laws of the United States, any state thereof or the District of Columbia, if not filed in the name of the relevant IPR SPV, will be assigned to the relevant IPR SPV concurrently with such application, or if that is not procedurally possible, as soon as reasonably practicable thereafter. The Issuer shall procure that each Subsidiary of the Issuer filing a Patent application in the United States, any state thereof, the District of Columbia or Germany notifies the Security Trustee of the relevant patent office details, the name of the patentee, the application number and the date of filing.