Common use of Acknowledgement of Rights Clause in Contracts

Acknowledgement of Rights. Each Licensee agrees and acknowledges that the Marks are the valuable property of, and are owned by, Licensor. Each Licensee will not directly or indirectly: (i) challenge or contest the validity or enforceability of the Licenses; (ii) dispute the validity, enforceability or Licensor's ownership of the Marks, or initiate or participate in any proceeding of any kind opposing the grant of Marks, or challenging any trademark application in connection with the Marks; (iii) apply to register or otherwise obtain registration of (A) the Licenses, or (B) the Marks or any variation thereon or derivative thereof with any trademark, business or domain name registrar; or (iv) assist any other Person to do any of the foregoing (except if and to the extent required by court order or subpoena). Any violation of this Section 3(b) will constitute a material breach of the License Agreement.

Acknowledgement of Rights. Each Licensee agrees and acknowledges that the Marks marks are the valuable property of, and are owned by, Licensor. Each Licensee will not directly or indirectly: (i) challenge or contest the validity or enforceability of the Licenses; (ii) dispute the validity, enforceability or Licensor's ownership of the Marks, or initiate or participate in any proceeding of any kind opposing the grant of Marks, or challenging any trademark application in connection with the Marks; (iii) apply to register or otherwise obtain registration of (A) the Licenses, or (B) the Marks or any variation thereon or derivative thereof with any trademark, business or domain name registrar; or (iv) assist any other Person to do any of the foregoing (except if and to the extent required by court order or subpoena). Any violation of this Section 3(b) will constitute a material breach of the License Agreement.