Common use of Protection of Intellectual Property Rights Clause in Contracts

Protection of Intellectual Property Rights. (a) (i) Use commercially reasonable efforts to protect, defend and maintain the validity and enforceability of Borrower’s and each Subsidiary’s Intellectual Property, except to the extent that such failure to do so would not reasonably be expected to have a material adverse effect on Borrower’s business or operations; (ii) promptly advise Agent in writing of infringements or any other event that could reasonably be expected to materially and adversely affect the value Borrower’s and each Subsidiary’s Intellectual Property; and (iii) not allow any Intellectual Property material to Borrower’s or any Subsidiary’s business to be abandoned, forfeited or dedicated to the public without Agent’s written consent.

Appears in 3 contracts

Samples: Loan and Security Agreement (Liquidia Corp), Loan and Security Agreement (AVROBIO, Inc.), Contingent Convertible Debt Agreement (Achieve Life Sciences, Inc.)

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Protection of Intellectual Property Rights. (a) (i) Use commercially reasonable efforts to protect, defend and maintain the validity and enforceability of Borrower’s and each Subsidiary’s Intellectual Property, except to the extent that such failure to do so would not reasonably be expected to have a material adverse effect on Borrower’s business or operations; (ii) promptly advise Agent Bank in writing of infringements or any other event that could reasonably be expected to materially and adversely affect the value Borrower’s and each Subsidiary’s Intellectual Property; and (iii) not allow any Intellectual Property material to Borrower’s or any Subsidiary’s business to be abandoned, forfeited or dedicated to the public without AgentBank’s written consent.

Appears in 3 contracts

Samples: Loan and Security Agreement (Achieve Life Sciences, Inc.), Loan and Security Agreement (6d Bytes Inc.), Loan and Security Agreement (Augmedix, Inc.)

Protection of Intellectual Property Rights. (a) (i) Use commercially reasonable efforts to protectProtect, defend and maintain the validity and enforceability of Borrower’s and each Subsidiary’s Intellectual Property, except to the extent that such failure to do so would not reasonably be expected to have a material adverse effect on Borrower’s business or operations; (ii) promptly advise Agent Bank in writing of infringements or any other event that could reasonably be expected to materially and adversely affect the value Borrower’s and each Subsidiary’s Intellectual Property; and (iii) not allow any Intellectual Property material to Borrower’s or any Subsidiary’s business to be abandoned, forfeited or dedicated to the public without AgentBank’s written consent.

Appears in 3 contracts

Samples: Loan and Security Agreement (Castle Biosciences Inc), Loan and Security Agreement (Evolv Technologies Holdings, Inc.), Loan and Security Agreement (Mitek Systems Inc)

Protection of Intellectual Property Rights. (a) (i) Use commercially reasonable efforts to protect, defend and maintain the validity and enforceability of Borrower’s and each Subsidiary’s Intellectual Property, except to the extent that such failure to do so would not reasonably be expected to have a material adverse effect on Borrower’s business or operationsoperations or that such Intellectual Property does not have material value; (ii) promptly advise Agent Bank in writing of infringements or any other event that could reasonably be expected to materially and adversely affect the value Borrower’s and each Subsidiary’s Intellectual PropertyProperty that has material value; and (iii) not allow any Intellectual Property material to Borrower’s or any Subsidiary’s business to be abandoned, forfeited or dedicated to the public without AgentBank’s written consent.

Appears in 2 contracts

Samples: Loan and Security Agreement (SI-BONE, Inc.), Loan and Security Agreement (SI-BONE, Inc.)

Protection of Intellectual Property Rights. (a) (i) Use commercially reasonable efforts to protectProtect, defend and maintain the validity and enforceability of Borrower’s and each Subsidiary’s Intellectual Property, except to the extent that such failure to do so would not reasonably be expected to have a material adverse effect on Borrower’s business or operations; (ii) promptly advise Agent Bank in writing of infringements or any other event that could reasonably be expected to materially and adversely affect the value Borrower’s and each Subsidiary’s Intellectual PropertyProperty material to Borrower’s or any Subsidiary’s business; and (iii) not allow any Intellectual Property material to Borrower’s or any Subsidiary’s business to be abandoned, forfeited or dedicated to the public without AgentBank’s written consent.

Appears in 1 contract

Samples: Loan and Security Agreement (Serve Robotics Inc. /DE/)

Protection of Intellectual Property Rights. (a) (i) Use commercially reasonable efforts to protectProtect, defend and maintain the validity and enforceability of Borrower’s and each Subsidiary’s Intellectual Property, except to the extent that such failure to do so would not reasonably be expected to have a material adverse effect on Borrower’s business or operations; (ii) promptly advise Agent in writing of infringements or any other event that could reasonably be expected to materially and adversely affect the value Borrower’s and each Subsidiary’s Intellectual Property, taken as a whole; and (iii) not allow any Intellectual Property material to Borrower’s or any Subsidiary’s and its Subsidiaries’ business to be abandoned, forfeited or dedicated to the public without Agent’s written consent.. WEST\295152977.6 253576801 v8

Appears in 1 contract

Samples: Loan and Security Agreement (Ziopharm Oncology Inc)

Protection of Intellectual Property Rights. (a) (i) Use commercially reasonable efforts to protect, defend and maintain the validity and enforceability of Borrower’s and each Subsidiary’s its Intellectual Property, except Property which is material to the extent that such failure to do so would not reasonably be expected to have a material adverse effect on Borrower’s business (other than Intellectual Property which Borrower does not own and which it licenses from one or operationsmore third parties); (ii) promptly advise Agent Bank in writing of material infringements or any other event that could reasonably be expected to materially and adversely affect the value of its Intellectual Property which is material to Borrower’s and each Subsidiary’s Intellectual Propertybusiness; and (iii) not allow any Intellectual Property material to Borrower’s or any Subsidiary’s business to be abandoned, forfeited or dedicated to the public without AgentBank’s written consent.

Appears in 1 contract

Samples: Loan and Security Agreement (DiCE MOLECULES HOLDINGS, LLC)

Protection of Intellectual Property Rights. (a) (i) Use commercially reasonable efforts to protectProtect, defend and maintain the validity and enforceability of Borrower’s and each Subsidiary’s Intellectual Property, except to the extent that such failure to do so would not reasonably be expected to have a material adverse effect on Borrower’s business or operations; (ii) promptly advise Agent Bank in writing of material infringements or any other event that could reasonably be expected to materially and adversely affect the value Borrower’s and each Subsidiary’s Intellectual PropertyProperty that has any material value; and (iii) not allow any Intellectual Property material to Borrower’s or any Subsidiary’s business to be abandoned, forfeited or dedicated to the public without AgentBank’s written consent.

Appears in 1 contract

Samples: Loan and Security Agreement (Chimerix Inc)

Protection of Intellectual Property Rights. (a) (i) Use commercially reasonable efforts to protectProtect, defend defend, and maintain the validity and enforceability of Borrower’s and each Subsidiary’s Intellectual Property, except to the extent that such failure to do so would not reasonably be expected to have a material adverse effect on Borrower’s business or operations; (ii) promptly advise Agent Bank in writing of infringements or any other event that could reasonably be expected to materially and adversely affect the value Borrower’s and each Subsidiary’s Intellectual PropertyProperty material to Bxxxxxxx’s business; and (iii) not allow any Intellectual Property material to Borrower’s or any Subsidiary’s business to be abandoned, forfeited forfeited, or dedicated to the public without AgentBank’s written consent.

Appears in 1 contract

Samples: Loan and Security Agreement (Imunon, Inc.)

Protection of Intellectual Property Rights. (a) (i) Use commercially reasonable efforts to protect, defend defend, and maintain the validity and enforceability of Borrower’s and each Subsidiary’s Intellectual Property, material to its business, except to the extent that such failure to do so would not reasonably be expected to have a material adverse effect on Borrower’s business or operations; (ii) promptly advise Agent Bank in writing of infringements or any other event event, in each case in which Borrower is aware, that could reasonably be expected to materially and adversely affect the value Borrower’s and each Subsidiary’s Intellectual Property; and (iii) not allow any Intellectual Property material to Borrower’s or any Subsidiary’s business to be abandoned, forfeited forfeited, or dedicated to the public without AgentBank’s written consent.

Appears in 1 contract

Samples: Loan and Security Agreement (Environmental Impact Acquisition Corp)

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Protection of Intellectual Property Rights. (a) (i) Use commercially reasonable efforts to protectProtect, defend and maintain the validity and enforceability of the Intellectual Property that is material to Borrower’s and each Subsidiary’s Intellectual Propertybusiness, except to the extent that such failure to do so would Bank gives its prior written consent or if Borrower determines in good faith and upon consultation of its legal counsel that the foregoing is not reasonably be expected to have a material adverse effect on in the best interests of Borrower’s business or operations; (ii) promptly advise Agent Bank in writing upon it becoming aware of material infringements or any other event that could reasonably be expected to materially and adversely affect the value Borrower’s and each Subsidiary’s of its Intellectual Property; and (iii) not allow any Intellectual Property material to Borrower’s or any Subsidiary’s business to be abandoned, forfeited or dedicated to the public without AgentBank’s written consent.

Appears in 1 contract

Samples: Loan and Security Agreement (Tremor Video Inc.)

Protection of Intellectual Property Rights. (a) (i) Use commercially reasonable efforts to protectProtect, defend and maintain the validity and enforceability of Borrower’s and each Subsidiary’s Intellectual Property, except to the extent that such failure to do so would not reasonably be expected to have a material adverse effect on Borrower’s business or operations; (ii) promptly advise Agent in writing of infringements or any other event that could reasonably be expected to materially and adversely affect the value Borrower’s and each Subsidiary’s Intellectual Property; and (iii) not allow any Intellectual Property material to Borrower’s or any Subsidiary’s business to be abandoned, forfeited or dedicated to the public without Agent’s written consent.

Appears in 1 contract

Samples: Loan and Security Agreement (Inmune Bio, Inc.)

Protection of Intellectual Property Rights. (a) (i) Use commercially reasonable efforts to protectProtect, defend and maintain the validity and enforceability of each Borrower’s and each Subsidiary’s Intellectual Property, except to the extent that such failure to do so would not reasonably be expected to have a material adverse effect on Borrower’s business or operationsMaterial Adverse Effect; (ii) promptly advise Agent Bank in writing of infringements or any other event that could would reasonably be expected to materially and adversely affect the value of such Borrower’s and each Subsidiary’s Intellectual Property; and (iii) not allow any Intellectual Property material to Borrower’s or any Subsidiary’s Lead Borrower and its Subsidiaries’ business (taken as a whole) to be abandoned, forfeited or dedicated to the public without AgentBank’s written consent.

Appears in 1 contract

Samples: Loan and Security Agreement (Outbrain Inc.)

Protection of Intellectual Property Rights. (a) (i) Use commercially reasonable efforts to (i) protect, defend and maintain the validity and enforceability of Borrower’s and each Subsidiary’s Intellectual Property, except to the extent that such failure to do so would not reasonably be expected to have a material adverse effect on Borrower’s business or operations; (ii) promptly advise Agent Bank in writing of infringements or any other event that could reasonably be expected to materially and adversely affect the value Borrower’s and each Subsidiary’s Intellectual PropertyProperty material to Borrower’s busines; and (iii) not allow any Intellectual Property material to Borrower’s or any Subsidiary’s business to be abandoned, forfeited or dedicated to the public without AgentBank’s written consent.

Appears in 1 contract

Samples: Loan and Security Agreement (908 Devices Inc.)

Protection of Intellectual Property Rights. (a) (i) Use commercially reasonable efforts to protectProtect, defend defend, and maintain the validity and enforceability of Borrower’s and each Subsidiary’s Intellectual Property, except to the extent that such failure to do so would not reasonably be expected to have a material adverse effect on Borrower’s business or operations; (ii) promptly advise Agent Bank in writing of infringements or any other event that could reasonably be expected to materially and adversely affect the value Borrower’s and each Subsidiary’s Intellectual Property; and (iii) not allow any Intellectual Property material to Borrower’s or any Subsidiary’s business to be abandoned, forfeited forfeited, or dedicated to the public without AgentBank’s written consent.

Appears in 1 contract

Samples: Loan and Security Agreement (Eyenovia, Inc.)

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