Product Agreement definition
Examples of Product Agreement in a sentence
Nothing in this Section 9.8(a) shall limit, impair, or release the Administrative Agent’s First Priority security interest in all cash proceeds received or to be received by Borrower or any of its Subsidiaries from such Permitted Product Agreement, and Borrower shall use its reasonable best efforts to grant to Administrative Agent, on behalf of and for the benefit of Lenders, a First Priority security interest in such Permitted Product Agreement.
Agent hereby appoints each other Lender (and each Bank Product Provider) as its agent (and each Lender hereby accepts (and by entering into a Bank Product Agreement, each Bank Product Provider shall be deemed to accept) such appointment) for the purpose of perfecting Agent’s Liens in assets which, in accordance with Article 8 or Article 9, as applicable, of the Code can be perfected by possession or control.
Promptly (but in any event within [***]) after receipt by Borrower or any of its Subsidiaries, a copy of any written notices regarding the commencement of, or material developments in any material third party disputes with respect to a Product (Core), a Product (Material), any Material Contract, any Product (Core) Intellectual Property Rights, any Product (Material) Intellectual Property Rights, any Permitted Product Agreement or any Permitted Royalty Transaction.
Agent ▇▇▇▇▇▇ agrees to act as agent for such Bank Product Providers and by virtue of entering into a Bank Product Agreement, the applicable Bank Product Provider shall be automatically deemed to have appointed Agent as its agent and to have accepted the benefits of the Loan Documents.
In addition, each Bank Product Provider, by virtue of entering into a Bank Product Agreement, shall be automatically deemed to have agreed that Agent shall have the right, but shall have no obligation, to establish, maintain, relax, or release reserves in respect of the Bank Product Obligations and that if reserves are established there is no obligation on the part of Agent to determine or insure whether the amount of any such reserve is appropriate or not.