Common use of Covenants Concerning Collateral Clause in Contracts

Covenants Concerning Collateral. Each Obligor jointly and severally covenants that: (a) The Obligors will keep the Collateral free and clear of any and all security interests, liens, assignments or other encumbrances, except Permitted Encumbrances and no Obligor shall enter into any licenses with respect to the Collateral, except as granted prior to the effective date herein. (b) The Obligors shall pay the 8th-year Maintenance Fee for the ‘391 Patent by no later than June 17, 2010. (c) Each Obligor does hereby make, constitute, and appoint the Secured Party and its designees as such Obligor’s true and lawful attorney in fact, with full power of substitution, such power to be exercised following and during the continuance of an uncured default under this Patent Security Agreement to do any and all things necessary or proper to carry out the intent of this Patent Security Agreement and to perfect and protect the liens and rights of the Secured Party created under this Patent Security Agreement. (d) The Obligors further agree to execute and deliver to the Secured Party all other written notices and similar documents requested by the Secured Party following an uncured default under this Patent Security Agreement, specifically including an assignment of the entire right, title and interest in and to the ‘391 Patent to the Secured Party. (e) The Obligors shall execute all such collateral assignments with respect to the ‘391 Patent as the Secured Party reasonably requests in order to perfect the security interests in such Collateral. The Obligors shall promptly execute for subsequent filing with the United States Patent and Trademark Office, such collateral assignments with respect to the ‘391 Patent as the Secured Party reasonably requests.

Covenants Concerning Collateral. Each Obligor jointly and severally covenants that: (a) The Obligors will keep the Collateral free and clear of any and all security interests, liens, assignments or other encumbrances, except Permitted Encumbrances and no Obligor shall enter into any licenses with respect to the Collateral, except as granted prior to the effective date herein. (b) The Obligors shall pay the 8th-year Maintenance Fee for the ‘391 Patent by no later than June 17, 2010[Reserved.] (c) Each Obligor does hereby make, constitute, and appoint the Secured Party and its designees as such Obligor’s true and lawful attorney in fact, with full power of substitution, such power to be exercised following and during the continuance of an uncured default under this Patent Security Agreement to do any and all things necessary or proper to carry out the intent of this Patent Security Agreement and to perfect and protect the liens and rights of the Secured Party created under this Patent Security Agreement. (d) The Obligors further agree to execute and deliver to the Secured Party all other written notices and similar documents requested by the Secured Party following an uncured default under this Patent Security Agreement, specifically including an assignment of the entire right, title and interest in and to the ‘391 654 Patent to the Secured Party. (e) The Obligors shall execute all such collateral assignments with respect to the ‘391 654 Patent as the Secured Party reasonably requests in order to perfect the security interests in such Collateral. The Obligors shall promptly execute for subsequent filing with the United States Patent and Trademark Office, such collateral assignments with respect to the ‘391 654 Patent as the Secured Party reasonably requests.