Common use of Grant of License to Use Intellectual Property Clause in Contracts

Grant of License to Use Intellectual Property. For the purpose of enabling the Administrative Agent to exercise rights and remedies under this Article VIII at such time as the Administrative Agent shall be lawfully entitled to exercise such rights and remedies and for no other purpose, each Grantor hereby grants to the Administrative Agent an irrevocable, non-exclusive license (exercisable without payment of royalty or other compensation to the Grantor) to use, assign or sublicense any of the Intellectual Property of such Grantor, now owned or hereafter acquired by such Grantor, and wherever the same may be located, including in such license reasonable access to all media in which any of the licensed items may be recorded or stored and to all computer programs used for the compilation or printout thereof.

Grant of License to Use Intellectual Property. For Solely to the purpose of enabling extent necessary to enable the Administrative Agent to exercise rights and remedies with respect to the Collateral under this Article VIII at such time as during the continuation of an Event of Default (and to the extent the Administrative Agent shall otherwise be lawfully entitled to exercise such rights and remedies and for no other purposeremedies), each Grantor hereby grants to the Administrative Agent an irrevocable, non-exclusive license (exercisable without payment of royalty or other compensation to the GrantorGrantors) to use, assign or sublicense use any of the Intellectual Property of such Grantor, now owned or hereafter acquired by such any Grantor, subject to applicable law, and wherever the same may be located, and including in such license reasonable access to all media in which any of the licensed items may be recorded or stored and to all computer software and programs used for the compilation or printout thereof.