Common use of Franchises, Intellectual Property, Etc Clause in Contracts

Franchises, Intellectual Property, Etc. The Borrower and each of its Subsidiaries possesses or has the right to use all franchises, Intellectual Property, licenses, permits and other rights as are material and necessary for the conduct of its business, and with respect to which it is in compliance in all material respects, with no known conflict with the valid rights of others which could reasonably be expected to have a Material Adverse Effect. No event has occurred which permits or, to the best knowledge of the Borrower, after notice or lapse of time or both, could reasonably be expected to permit, the revocation or termination of any such franchise, Intellectual Property, license, permit or other right and which revocation or termination could reasonably be expected to have a Material Adverse Effect.