Future Rights. Except as otherwise expressly agreed to in writing by Secured Parties, if and when, during the term of this Agreement, the Company shall obtain rights to any new patentable inventions or any new trademarks, or become entitled to the benefit of any of the foregoing, or obtain rights or benefits with respect to any reissue, division, continuation, renewal, extension or continuation-in-part of any patents or trademarks, or any improvement of any patent, the provisions of Section 1 shall automatically apply thereto and the Company shall give to Secured Parties reasonable notice thereof. The Company shall take commercially reasonable steps to ensure the validity, perfection, priority and enforceability of the security interests of each Secured Party in such future acquired Intellectual Property Collateral; provided, however, that the Company shall not be required to register any patents or trademarks with the PTO except to the extent consistent with the Company’s past and commercially feasible practices.
Appears in 5 contracts
Samples: Patent and Trademark Security Agreement (Sutura, Inc.), Patent and Trademark Security Agreement (Sutura, Inc.), Patent and Trademark Security Agreement (Sutura, Inc.)
