Material Patent definition

Material Patent means a Patent that is material to the business of any Credit Party or any of its Subsidiaries.

Material Patent and "Material Trademark" mean all Patents and Trademarks, respectively, that meet the criteria described in clauses (a) and (b) above.

Material Patent means any Patent that Covers, discloses or claims Material Know-How.

Examples of Material Patent in a sentence

• On receipt of such notice, Xxxxxxx shall delay filing of such Material Patent application for an additional period of (or such shorter or longer period mutually agreed by the Parties) to permit preparation and filing of a patent application on the disclosed subject matter or to mitigate any material adverse impact on Institute´s Intellectual Property rights, as applicable.

• Xxxxxxx shall provide Institute with any draft application for any Material Patent that includes any disclosure of any Institute Methods in the claims, description or examples of the application for review at least prior to filing such application.

• Notwithstanding any of the foregoing, if any patent application for a Material Patent also claims any Institute Methods, then it shall be deemed to be a Screening Patent and handled in accordance with Sections 7.3(b) and 7.4(b)(ii).

• If either Party becomes aware of any infringement, threatened infringement, or alleged infringement of any Material Patent, Screening Patent or Institute Technology Patent (an “Infringement”), it will promptly notify the other Party thereof including available evidence of Infringement.

More Definitions of Material Patent

Material Patent means a Patent (as hereinafter defined) that is used by the Company in the Ordinary Course of Business and the absence of which could reasonably be expected to have a Material Adverse Effect upon the business, financial condition or operating results of such Company.

Material Patent has the meaning set forth in Section 10.2(a)(iv) of the License Agreement.

Material Patent and "Material Trademark" shall mean one or more Copyrights, Patents or Trademarks, respectively, which individually has a fair market value in excess of $250,000. In the event that any right to any Copyright, Copyright License, Patent, Patent License, Trademark or Trademark License is infringed, misappropriated or diluted by a third party and such infringement, misappropriation or dilution could reasonably be expected to have a Material Adverse Effect, the Borrower shall notify the Security Agent promptly after it learns thereof and shall promptly take any and all action that would be prudent and in the best interests of the Borrower as reasonably determined by the Borrower to be appropriate. The Borrower shall provide the Security Agent, on an annual basis, with a list of any applications for the registration of any Material Copyright with the United States Copyright Office Material Patent or Material Trademark with the United States Patent and Trademark Office filed by the Borrower and, upon request of the Security Agent, shall execute and deliver any and all agreements, instruments, documents and papers the Security Agent may request to evidence the Security Interests in such Material Patent or Material Trademark and the goodwill and general intangibles of the Borrower relating thereto or represented thereby.

Material Patent shall have the meaning assigned to it in Section 4.08(b).

Material Patent any Patent the absence, abandonment or loss of which could reasonably be expected to result in a material adverse change in, or a material adverse effect on, the operations or financial condition of [●] and its Subsidiaries, or the Collateral taken as a whole.