IT Asset definition

IT Asset means any information system, software, website, system, network or hardware that is owned by the Company or used in the course of its business activities.

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

IT Asset means all of the computer systems, workstations, routers, hubs, switches, circuits, servers, Software, networks, telecommunications systems and other information technology equipment owned or controlled by any Company Entity as of the time of the Closing.

IT Asset means all of the computers, computer systems, applications, databases, hardware, middleware, firmware, workstations, routers, hubs, switches, circuits, servers and other information technology equipment of the Group Companies and any other computer systems, workstations, routers, hubs, switches, circuits, servers and other information technology equipment of Seller and its Subsidiaries used exclusively in the conduct of the Business. For the avoidance of doubt, each enterprise resource planning system used in the conduct of the Business shall constitute an IT Asset.

Examples of IT Asset in a sentence

To the Company’s knowledge, no person or entity has gained unauthorized access to any IT Asset since the Company’s inception in a manner that has resulted or could reasonably be expected to result in a Material Adverse Change.
Except as would not reasonably be expected to have a Material Adverse Effect, (i) to the Company’s knowledge, the Company has not suffered or incurred any security breaches, compromises or incidents with respect to any Company IT Asset or Sensitive Company Data and (ii) to the Company’s knowledge, there has been no unauthorized or illegal use of, or access to, any Company IT Asset or Sensitive Company Data by any unauthorized third party.
No Public Software has been used by Company T or any of its Subsidiaries in connection with any Company T Software or any IT Asset of Company T or any of its Subsidiaries in a manner that requires the licensing, disclosure or distribution of any source code (other than source code that is a part of such Public Software) or limits the receipt of consideration in connection with the use, licensing or distribution of such Company T Software or Asset of Company T or any of its Subsidiaries.
The Company and its Subsidiaries have not suffered or incurred any security breaches, compromises or incidents with respect to any Company IT Asset or Sensitive Company Data, except where such breaches, compromises or incidents would not reasonably be expected to, individually or in the aggregate, result in a Material Adverse Effect; and there has been no unauthorized or illegal use of or access to any Company IT Asset or Sensitive Company Data by any unauthorized third party.
The Company and its subsidiaries have not suffered or incurred any security breaches, compromises or incidents with respect to any Company IT Asset or Sensitive Company Data, except where such breaches, compromises or incidents would not, individually or in the aggregate, be material to the Company or any of its subsidiaries; and there has been no unauthorized or illegal use of or access to any Company IT Asset or Sensitive Company Data by any unauthorized third party.

More Definitions of IT Asset

IT Asset means an asset including software, hardware, internal and external-facing network system that are found in the business environment;

IT Asset means all elements of software and hardware found in an IT environment.

IT Asset means a device that is a computer (for example, a laptop, desktop, server, or tablet) or network

IT Asset or “IT assets” is meant to encompass all and collectively refer to College IT resources and the electronic information stored on, within or passing through a College IT resource;

IT Asset means an asset of either software or hardware that is found in the business environment;

IT Asset means all of the software, computer systems, workstations, routers, hubs, switches, circuits, servers and other information technology equipment of the Group Companies and any other software, computer systems, workstations, routers, hubs, switches, circuits, servers and other information technology equipment of Seller Parent and its Subsidiaries used exclusively in the conduct of the Business or located on any Owned Real Property or Leased Real Property. “knowledge of Buyer,” “Buyer’s knowledge” or any other similar knowledge qualification in this Agreement means the actual knowledge, without any duty of inquiry, of the Persons set forth in Schedule 1.01(d). “knowledge of Seller,” “Seller’s knowledge” or any other similar knowledge qualification in this Agreement means the actual knowledge, without any duty of inquiry, of the Persons set forth in Schedule 1.01(e). “Law” means any national, state, provincial, municipal or local statute, law, bylaw, ordinance, rule, regulation, rule of law (including common law) or Governmental Order, code or edict, in each case, issued, enacted, adopted, promulgated, implemented or otherwise put into effect by or under the authority of any Governmental Authority. “Leased Real Property” means the real property leased or subleased by any Group Company as tenant or subtenant pursuant to a lease or sublease, as applicable, requiring (a) annual payments of $500,000 or more or (b) aggregate remaining payments by the Group Companies of $1,000,000 or more which are described in Schedule 3.12(a)(ii). 6

IT Asset or “IT assets” is meant to encompass all and collectively refer to College IT resources and the electronic information stored on, within or passing through a College IT resource;