Common use of ASSIGNOR'S ENFORCEMENT RIGHTS Clause in Contracts

ASSIGNOR'S ENFORCEMENT RIGHTS. The Assignor shall have the right, with the consent of the Agent which shall not be unreasonably withheld, to bring suit or other action in the Assignor's own name to enforce the Patents and the Patent Rights. The Agent shall be required to join in such suit or action as may be necessary to assure the Assignor's ability to bring and maintain any such suit or action in any proper forum so long as the Agent is completely satisfied that such joinder will not subject the Agent or any of the Lenders to any risk of liability. The Assignor shall promptly, upon demand, reimburse and indemnify the Agent and the Lenders for all damages, costs and expenses, including legal fees, incurred by the Agent and any of the Lenders pursuant to this Sec.6.

Appears in 3 contracts

Samples: Patent Collateral Assignment and Security Agreement (PCD Inc), Patent Collateral Assignment and Security Agreement (PCD Inc), Patent Collateral Assignment and Security Agreement (PCD Inc)

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ASSIGNOR'S ENFORCEMENT RIGHTS. The Assignor shall have the right, with the consent of the Agent which shall not be unreasonably withheld, to bring suit or other action in the Assignor's ’s own name to enforce the Patents and the Patent Rights. The Agent shall be required to join in such suit or suitor action as may be necessary to assure the Assignor's ’s ability to bring and maintain any such suit or action in any proper forum so long as the Agent is completely satisfied that such joinder will not subject the Agent or any of the Lenders Holders to any risk of liability. The Assignor shall promptly, upon demand, reimburse and indemnify the Agent and the Lenders Holders for all damages, documented damages and reasonable and documented costs and expenses, including legal fees, incurred by the Agent and or any of the Lenders Holders pursuant to this Sec.6Section 6.

Appears in 1 contract

Samples: Patent Collateral Assignment and Security Agreement (Hawaii Parking Maintenance Inc)

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