Material Patent definition

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

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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" 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.

Examples of Material Patent in a sentence

• To the Company’s Knowledge, each of the Material Patents and Material Patent applications correctly identifies each and every inventor of the claims thereof as determined in accordance with the laws of the jurisdiction in which such Material Patent is issued or such Material Patent application is pending.

• To the Knowledge of the Company, each of the Material Patents correctly identifies each and every inventor of the claims thereof as determined in accordance with the laws of the jurisdiction in which such Material Patent is issued or pending, and the Company has performed appropriate reasonable inquiry with respect to such inventorship.

• Each Grantor shall not, as to any patentable invention or Patent that constitutes or could constitute a Material Patent, abandon any pending patent application or any Patent without the prior written consent of Secured Party.

• Each Patent designated on Schedule II annexed hereto as a Material Patent and each other Patent hereafter arising or otherwise owned or held by such Grantor that is material to any of such Grantor's business or operations is referred to herein as a "Material Patent".

• To the knowledge of Grantors, each Material Trademark Property and each Material Patent is valid, subsisting and enforceable.

• Upon request of the Agent, an Obligor shall execute and deliver any and all agreements, instruments, documents and papers as the Agent may reasonably request to evidence the Agent's and the Lenders' security interest in any Material Patent or Material Trademark and the goodwill and general intangibles of an Obligor relating thereto or represented thereby.

• Research Institute and Collaborator will negotiate in good faith to determine the terms of a license agreement as to each Patent and Material Patent for which Collaborator has agreed to make payment for patent expenses as provided for in Sections 5.1 and 5.2, if any.

• Except as otherwise permitted by the Secured Debt Agreements, each Assignor hereby agrees not to divest itself, after execution of this Agreement, of any right under any Material Patent or Material Copyright absent prior written approval of the PBGC.

• Each Assignor hereby grants to the PBGC an absolute power of attorney exercisable upon the occurrence and during the continuance of any Event of Default, to sign any document which may be required by the United States Patent and Trademark Office or the United States Copyright Office in order to effect an absolute assignment of all right, title and interest in each Material Patent or Material Copyright, and to record the same.

• Royalty Report, Biological Material, Patent Rights, Know-How, Active in Product, information and know-how related to the Active and Product owned or held by either party to this Agreement, now and in the future which is disclosed by either party to the other party in connection with this Agreement.

More Definitions of Material Patent

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

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

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.