Common use of Existing Intellectual Property Rights Clause in Contracts

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

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