Common use of Existing Intellectual Property Rights Clause in Contracts

Existing Intellectual Property Rights. AOL acknowledges and agrees that any TWX Patent Matter and TWX Covenant Intellectual Property created, owned, used or controlled by TWX or any other member of the TWX Group, shall remain the exclusive property of TWX or its applicable TWX Group member and, except for the rights and licenses granted hereunder, none of AOL and the other members of the AOL Group shall have any rights to such TWX Patent Matter or TWX Covenant Intellectual Property; provided, however, that any Improvements to any TWX Patent Matter or any TWX Covenant Intellectual Property by any member of the AOL Group after the Effective Date shall be owned in accordance with applicable Law. AOL shall not, nor shall it permit any AOL Group member to, do any act, or purposefully omit to do any act, that shall in any way impair the rights of TWX or any other member of the TWX Group in and to the TWX Patent Matters or TWX Covenant Intellectual Property.

Existing Intellectual Property Rights. AOL TWX acknowledges and agrees that any TWX AOL Patent Matter and TWX AOL Covenant Intellectual Property created, owned, used or controlled by TWX AOL or any other member of the TWX AOL Group, shall remain the exclusive property of TWX AOL or its applicable TWX AOL Group member and, except for the rights and licenses granted hereunder, none of AOL TWX and the other members of the AOL TWX Group shall have any rights to such TWX AOL Patent Matter or TWX AOL Covenant Intellectual Property; provided, however, that any Improvements to any TWX AOL Patent Matter or any TWX AOL Covenant Intellectual Property by any member of the AOL TWX Group after the Effective Date shall be owned in accordance with applicable Law. AOL TWX shall not, nor shall it permit any AOL TWX Group member to, do any act, or purposefully omit to do any act, that shall in any way impair the rights of TWX AOL or any other member of the TWX AOL Group in and to the TWX AOL Patent Matters or TWX AOL Covenant Intellectual Property.