Common use of Grantee's Right to Xxx Clause in Contracts

Grantee's Right to Xxx. Upon the occurrence and during the continuance of an Event of Default, Grantee for the benefit of the Grantee and the other Secured Parties shall have the right, but shall in no way be obligated, to bring suit in its own name to enforce the Intellectual Property, only after Grantee has tendered notice to Grantor of Grantee's desire to initiate such suit and Grantor has declined in writing to itself pursue such suit, and, if Grantee shall commence any such suit, Grantor shall, at the request of Grantee, do any and all lawful acts and execute any and all proper documents and instruments reasonably required by Grantee for the benefit of the Grantee and the other Secured Parties in aid of such enforcement.

Grantee's Right to Xxx. Upon the occurrence and during the continuance of an Event of Default, Grantee for the benefit of the Grantee and the other Secured Parties Bank Product Providers shall have the right, but shall in no way be obligated, to bring suit in its own name to enforce the Intellectual Property, only after Grantee has tendered notice to Grantor of Grantee's desire to initiate such suit and Grantor has declined in writing to itself pursue such suit, and, if Grantee shall commence any such suit, Grantor shall, at the request of Grantee, do any and all lawful acts and execute any and all proper documents and instruments reasonably required by Grantee for the benefit of the Grantee and the other Secured Parties Bank Product Providers in aid of such enforcement.