Common use of Grantors’ Rights To Enforce Intellectual Property Clause in Contracts

Grantors’ Rights To Enforce Intellectual Property. Prior to the Collateral Agent's giving of notice to the Grantors (i) following the occurrence of an Event of Default or (ii) pursuant to Section 6.1 below, the Grantors shall have the exclusive right to sue for past, present and future infringement of the Intellectual Propxxxy including the right to seek injunctions and/or money damages, in an effort by the Grantors to protect the Intellectual Property against encroachment by third parties, provided, however: 6.1 The Grantors shall provide the Collateral Agent with prior written notice of the Grantors' intention to so sue for enforcement of any Intellectual Property. If, in the reasonablx xpinion of the Collateral Agent, the Grantors have failed to take appropriate action within sixty (60) days after such notice is given to Collateral Agent, upon notice to the Grantors, the Collateral Agent may (but shall not be required to) itself take such action in the name of the Grantors, with any damages recovered in such action, net of costs and attorneys' fees reasonably incurred, to be applied as provided in Section 6.2 of the Security Agreement. 6.2 Any money damages awarded or received by the Grantors on account of such suit (or the threat of such suit) shall constitute IP Collateral. 6.3 Following the occurrence of any Event of Default, the Collateral Agent, by notice to the Grantors may terminate or limit the Grantors' rights under this Section 6.

Grantors’ Rights To Enforce Intellectual Property. Prior to the Collateral Agent's giving of notice to the Grantors (i) following the occurrence of an Event of Default or (ii) pursuant to Section 6.1 below, the Grantors shall have the exclusive right to sue for past, present and future infringement of the Intellectual Propxxxy Prxxxrty including the right to seek injunctions and/or money damages, in an effort by the Grantors to protect the Intellectual Property against encroachment by third parties, provided, however: 6.1 The Grantors shall first provide the Collateral Agent with prior written notice of the Grantors' intention to so sue for enforcement of any Intellectual Property. If, in the reasonablx xpinion reasonaxxx opinion of the Collateral Agent, the Grantors have failed to take appropriate action within sixty (60) days after such notice is given to Collateral Agent, upon notice to the Grantors, the Collateral Agent may (but shall not be required to) itself take such action in the name of the Grantors, with any damages recovered in such action, net of costs and attorneys' fees reasonably incurred, to be applied as provided in Section 6.2 of the Security Agreement. 6.2 Any money damages awarded or received by the Grantors on account of such suit (or the threat of such suit) shall constitute IP Collateral. 6.3 Following the occurrence of any Event of Default, the Collateral Agent, by notice to the Grantors may terminate or limit the Grantors' rights under this Section 6.

Grantors’ Rights To Enforce Intellectual Property. Prior to the Collateral Agent's ’s giving of notice to the Grantors (i) following the occurrence of an Event of Default or (ii) pursuant to Section 6.1 below, the Grantors shall have the exclusive right to sue xxx for past, present and future infringement of the Intellectual Propxxxy Property including the right to seek injunctions and/or money damages, in an effort by the Grantors to protect the Intellectual Property against encroachment by third parties, provided, however: 6.1 The Grantors shall first provide the Collateral Agent with prior written notice of the Grantors' ’ intention to so sue xxx for enforcement of any Intellectual Property. If, in the reasonablx xpinion reasonable opinion of the Collateral Agent, the Grantors have failed to take appropriate action within sixty (60) days after such notice is given to Collateral Agent, upon notice to the Grantors, the Collateral Agent may may, subject to the terms of the Intercreditor Agreement, (but shall not be required to) itself take such action in the name of the Grantors, with any damages recovered in such action, net of costs and attorneys' ’ fees reasonably incurred, to be applied as provided in Section 6.2 of the Security Agreement. 6.2 Any money damages awarded or received by the Grantors on account of such suit (or the threat of such suit) shall constitute IP Collateral. 6.3 Following the occurrence of any Event of Default, the Collateral Agent, by notice to the Grantors may terminate or limit the Grantors' ’ rights under this Section 6.

Grantors’ Rights To Enforce Intellectual Property. Prior to the Collateral Agent's ’s giving of notice to the Grantors (i) following the occurrence of an Event of Default or (ii) pursuant to Section 6.1 below, the Grantors shall have the exclusive right to sue for past, present and future infringement of the Intellectual Propxxxy Property including the right to seek injunctions and/or money damages, in an effort xxxort by the Grantors to protect the Intellectual Property against encroachment by third parties, provided, however: 6.1 The Grantors shall first provide the Collateral Agent with prior written notice of the Grantors' ’ intention to so sue for enforcement of any Intellectual Property. If, in the reasonablx xpinion reasonable opinion of the Collateral Agent, the Grantors have failed to take appropriate apprxxxiate action within sixty (60) days after such notice is given to Collateral Agent, upon notice to the Grantors, the Collateral Agent may (but shall not be required to) itself take such action in the name of the Grantors, with any damages recovered in such action, net of costs and attorneys' ’ fees reasonably incurred, to be applied as provided in Section 6.2 7.3 of the Security Credit Agreement. 6.2 Any money damages awarded or received by the Grantors on account of such suit (or the threat of such suit) shall constitute IP Collateral. 6.3 Following the occurrence of any Event of Default, the Collateral Agent, by notice to the Grantors may terminate or limit the Grantors' ’ rights under this Section 6.. SECTION 7

Grantors’ Rights To Enforce Intellectual Property. Prior to the Collateral Agent's ’s giving of notice to the Grantors (i) following the occurrence of an Event of Default or (ii) pursuant to Section 6.1 below, the Grantors shall have the exclusive right to sue sxx for past, present and future infringement of the Intellectual Propxxxy Property including the right to seek injunctions and/or money damages, in an effort by the Grantors to protect the Intellectual Property against encroachment by third parties, provided, however: 6.1 The Grantors shall first provide the Collateral Agent with prior written notice of the Grantors' ’ intention to so sue sxx for enforcement of any Intellectual Property. If, in the reasonablx xpinion reasonable opinion of the Collateral Agent, the Grantors have failed to take appropriate action within sixty (60) days after such notice is given to Collateral Agent, upon notice to the Grantors, the Collateral Agent may (but shall not be required to) itself take such action in the name of the Grantors, with any damages recovered in such action, net of costs and attorneys' ’ fees reasonably incurred, to be applied as provided in Section 6.2 of the Security Agreement. 6.2 Any money damages awarded or received by the Grantors on account of such suit (or the threat of such suit) shall constitute IP Collateral. 6.3 Following the occurrence of any Event of Default, the Collateral Agent, by notice to the Grantors may terminate or limit the Grantors' ’ rights under this Section 6.