Common use of Conditional Assignment Clause in Contracts

Conditional Assignment. In addition to, and not by way of limitation of, the granting of a security interest in the Collateral pursuant to Section 1, Assignor hereby, effective only upon the occurrence and during the continuance of an Event of Default and upon written notice from Assignee and subject to the terms of this Agreement, grants, sells, conveys, transfers, assigns and sets over to Assignee, for its benefit and the ratable benefit of Lenders, all of Assignor's right, title and interest in and to the Collateral, including without limitation Assignor's right, title and interest in and to the Patents identified in Schedule A annexed hereto.

Conditional Assignment. In addition to, and not by way of ---------------------- limitation of, the granting of a security interest in the Collateral pursuant to Section 1, Assignor hereby, effective only upon the occurrence and during the continuance of an Event of Default and upon written notice from Assignee and subject to the terms of this AgreementAssignee, grants, sells, conveys, transfers, assigns and sets over to Assignee, for its benefit and the ratable benefit of LendersLenders and Interest Rate Exchangers, all of Assignor's right, title and interest in and to the Collateral, including without limitation Assignor's right, title and interest in and to the Patents identified in Schedule A annexed ---------- hereto.

Conditional Assignment. In addition to, and not by way ---------------------- of limitation of, the granting of a security interest in the Collateral pursuant to Section 1, Assignor hereby, effective only upon the occurrence and during the continuance of an Event of Default and upon written notice from Assignee and subject to the terms of this AgreementAssignee, grants, sells, conveys, transfers, assigns and sets over to Assignee, for its benefit and the ratable benefit of LendersLenders and Interest Rate Exchangers, all of Assignor's right, title and interest in and to the Collateral, including without limitation Assignor's right, title and interest in and to the Patents identified in Schedule A annexed ---------- hereto.