As to Intellectual Property Collateral. (a) Grantor shall not, unless Grantor shall either (i) reasonably and in good faith determine that any of the Patent Collateral is of negligible economic value to Grantor or (ii) have a valid business purpose to do otherwise, do any act, or omit to do any act, whereby any of the Patent Collateral may lapse or become abandoned or dedicated to the public or unenforceable.
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Samples: Note Purchase Agreement (Diomed Holdings Inc), Secured Loan Agreement (Diomed Holdings Inc), Security Agreement (Diomed Holdings Inc)
As to Intellectual Property Collateral. (a) The Grantor shall not, unless the Grantor shall either (i) reasonably and in good faith determine (and notice of such determination shall have been delivered to the Agent) that any of the Patent Collateral is of negligible economic value to Grantor the Grantor, or (ii) have a valid business purpose to do otherwise, do any act, or omit to do any act, whereby any of the Patent Collateral may lapse or become abandoned or dedicated to the public or unenforceable.
Appears in 4 contracts
Samples: Pledge Agreement (Novamed Inc), Pledge Agreement (Novamed Inc), Security Agreement (Aristotle Corp)
As to Intellectual Property Collateral. (a) None of the Grantors shall, unless such Grantor shall not, unless Grantor shall either (i) reasonably and in good faith determine (and notice of such determination shall have been delivered to the Agent) that any of the Patent Collateral is not of negligible material economic value to Grantor or (ii) have a valid business purpose to do otherwisesuch Grantor, do any act, or omit to do any act, whereby any of the Patent Collateral may lapse or become abandoned or dedicated to the public or unenforceable.
Appears in 2 contracts
Samples: Guarantor Security Agreement (Key Components LLC), Security Agreement (Key Components Finance Corp)
As to Intellectual Property Collateral. (a) Such Grantor shall not, unless such Grantor shall either (i) reasonably and in good faith determine (and notice of such determination shall have been delivered to the Agent) that any of the Patent Collateral is of negligible economic value to Grantor such Grantor, or (ii) have a valid business purpose to do otherwise, do any act, or omit to do any act, whereby any of the Patent Collateral may lapse or become abandoned or dedicated to the public or unenforceable.
Appears in 2 contracts
Samples: Security Agreement (Aristotle Corp), Subsidiary Security Agreement (Aristotle Corp)
As to Intellectual Property Collateral. (a) No Grantor shall notshall, unless such Grantor shall either (i) reasonably and in good faith determine that any of the Patent Collateral is of negligible economic value to such Grantor or (ii) have a valid business purpose (exercised in the ordinary course of business) to do otherwise, do any act, or omit to do any act, whereby any of the Patent Collateral may lapse or become abandoned or dedicated to the public or unenforceable.
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Samples: Security Agreement (Global Power Equipment Group Inc/)
As to Intellectual Property Collateral. (a) The Grantor shall not, unless Grantor it shall either (i) reasonably and in good faith determine (and notice of such determination shall have been delivered to the Collateral Agent) that any of the Patent Collateral is of negligible economic value to Grantor the Grantor, or (ii) have a valid business purpose to do otherwise, do any act, or omit to do any act, whereby any of the Patent Collateral may lapse or become abandoned or dedicated to the public or unenforceable.
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As to Intellectual Property Collateral. (a) a)The Grantor shall not, unless the Grantor shall either (i) reasonably and in good faith determine (and notice of such determination shall have been delivered to the Agent) that any of the Patent Collateral is not of negligible material economic value to Grantor or (ii) have a valid business purpose to do otherwisethe Grantor, do any act, or omit to do any act, whereby any of the Patent Collateral may lapse or become abandoned or dedicated to the public or unenforceable.
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As to Intellectual Property Collateral. (a) The Grantor shall not, unless the Grantor shall either (i) reasonably and in good faith determine (and notice of such determination shall have been delivered to the Administrative Agent) that any of the Patent Collateral is not of negligible material economic value to Grantor or (ii) have a valid business purpose to do otherwisethe Grantor, do any act, or omit to do any act, whereby any of the Patent Collateral may lapse or become abandoned or dedicated to the public or unenforceable.
Appears in 1 contract
As to Intellectual Property Collateral. (a) The Grantor shall not, unless the Grantor shall either (i) reasonably and in good faith determine (and notice of such determination shall have been delivered to the Agent) that any of the Patent Collateral is not of negligible material economic value to Grantor or (ii) have a valid business purpose to do otherwisethe Grantor, do any act, or omit to do any act, whereby any of the Patent Collateral may lapse or become abandoned or dedicated to the public or unenforceable.
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As to Intellectual Property Collateral. (a) Such Grantor shall not, unless such Grantor shall either (i) reasonably and in good faith determine (and notice of such determination shall have been delivered to the Administrative Agent) that any of the Patent Collateral is not of negligible material economic value to Grantor or (ii) have a valid business purpose to do otherwisesuch Grantor, do any act, or omit to do any act, whereby any of the Patent Collateral may lapse or become abandoned or dedicated to the public or unenforceable.
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