Intellectual Property. (a) Schedule 4.09(a) sets forth a true and complete list of all (i) Registered Intellectual Property included in the Owned Intellectual Property, indicating for each item the registration or application number, the registration or application date, and the applicable filing jurisdiction and (ii) Owned Intellectual Property that is not registered but that is material to the operation of the Business. Sellers exclusively own all, right, title and interest in all Owned Intellectual Property, free and clear of all Encumbrances (other than Permitted Encumbrances). Sellers are not bound by any outstanding judgment, injunction, order or decree or any contractual obligation materially restricting the use by a Seller of the Owned Intellectual Property, or materially restricting the licensing thereof to any Person. With respect to the Registered Intellectual Property included in the Owned Intellectual Property listed on Schedule 4.09(a), (i) all such Registered Intellectual Property is subsisting and, to Sellers’ Knowledge, valid and enforceable, (ii) a Seller is the owner of record, and (iii) all maintenance fees and filings that are required to be made to maintain such Registered Intellectual Property have been timely made (taking into account any applicable grace periods). (b) Schedule 4.09(b) sets forth, or at the Closing will set forth, a true and complete list of all Intellectual Property Licenses. Except as set forth on Schedule 4.09(b), Sellers have provided Buyer with true and complete copies of all such Intellectual Property Licenses. All such Intellectual Property Licenses are, to Sellers’ Knowledge, valid, binding and enforceable between the applicable Seller and the other parties thereto, and Seller and, to Sellers’ Knowledge, such other parties are in compliance with the material terms and conditions of such Intellectual Property Licenses. (c) To Sellers’ Knowledge, the conduct of the Business as currently conducted does not infringe, misappropriate, dilute or otherwise violate, and in the past three (3) years has not infringed, misappropriated or otherwise violated, any Intellectual Property rights of any Third Party. Sellers have not received any notice that Sellers’ use of the Transferred Intellectual Property in the conduct of the Business as currently conducted infringes, misappropriates, dilutes or otherwise violates, or in the past three (3) years has infringed, misappropriated or otherwise violated, any Intellectual Property Rights of any Third Party. No Proceedings are pending and no written notices have been received by Sellers during the past three (3) years (or earlier, if presently not resolved), in each case, alleging any infringement, misappropriation or other violation by Sellers of the Intellectual Property rights of any Third Party. Except as set forth in Schedule 4.09(c), to Sellers’ Knowledge, during the past three (3) years (or earlier, if presently not resolved) no Person has infringed, misappropriated, diluted or otherwise violated any of the Owned Intellectual Property or Transferred Technology, and no Seller has made or asserted any claim, demand or notice against any person or entity alleging any such infringement, misappropriation, dilution or other violation. There is no Proceeding pending or, to Sellers’ Knowledge, threatened, challenging a Seller’s ownership of any Owned Intellectual Property, or its right to use any Transferred Intellectual Property, or challenging the validity, registrability, or enforceability of any Registered Intellectual Property included in the Owned Intellectual Property. (d) Sellers represent that they are, each as applicable, the registrant of record of each domain name as set forth in Schedule 4.09(d) (collectively, the “Domain Names”). (e) Sellers have taken commercially reasonable measures to protect the confidentiality of all Trade Secrets included in the Owned Intellectual Property and no material Trade Secrets have been disclosed by Sellers to any Person except pursuant to written non-disclosure agreements or other obligations of confidentiality, and, to Sellers’ Knowledge, there has not been a breach of any such agreement or obligation by any such Person. (f) To Seller’s Knowledge, Sellers have obtained from each Person (including current and former employees and independent contractors) who has created or developed for or on behalf of Sellers any Owned Intellectual Property that is material to the Business a written, present and, valid assignment of such Intellectual Property to a Seller. (g) To Sellers’ Knowledge, in the past three (3) years, there has been no material unauthorized access to or material unauthorized use of any confidential or proprietary information or data that is both in Sellers’ possession or control and material to the Business. (h) With respect to any material Software included within the Transferred Intellectual Property, to Sellers’ Knowledge (i) such Software is free from any material bugs, viruses or other malicious code, (ii) the Source Code for such Software has not been disclosed to any Third Party, and (iii) such Software does not contain, derive from or link to any open source Software in a manner that requires the disclosure of any proprietary Source Code, limits the ability to charge fees, or grants any license to any Third Party to make derivative works. (i) Neither the execution, delivery or performance of this Agreement, nor the consummation of the transactions contemplated by the Ancillary Agreements will result in the material loss or impairment of any of the Owned Intellectual Property. (j) All third-party code that is incorporated into the proprietary Software included in the Transferred Intellectual Property and that is critical to the operation of such Software is commercially available (each a “Critical IP License” and collectively “Critical IP Licenses”), and following Closing, Buyer will be able to procure a license for all such third-party code for (i) an aggregate amount during the one-year period immediately following the Closing that shall not exceed the amount reflected for such third-party code in the Unaudited Financial Statements by more than $200,000, and (ii) an aggregate amount during the twelve (12) months period following the initial one-year period immediately following Closing that shall not exceed the amount reflected for such third-party code in the Unaudited Financial Statements by more than $200,000; provided that any increases in license fees resulting from a volume increase, additional licenses or other change in the operation of Business post Closing shall not be breaches of this representation. (k) Buyer and Sellers agree that the representations and warranties included in this Section 4.09 shall be the sole and exclusive representations and warranties of Sellers with respect to Intellectual Property matters in this Agreement.
Appears in 4 contracts
Samples: Purchase Agreement (Ribbon Communications Inc.), Purchase Agreement (American Virtual Cloud Technologies, Inc.), Purchase Agreement (American Virtual Cloud Technologies, Inc.)
Intellectual Property. (a) Part 4.17 of the Disclosure Schedule 4.09(a) sets forth a true an accurate and complete list of the material Intellectual Property. True and complete copies of all (i) Registered materials comprising such Intellectual Property included in the Owned Intellectual Property, indicating for each item the registration or application number, the registration or application date, and the applicable filing jurisdiction and (ii) Owned Intellectual Property that is not registered but that is material to the operation of the Business. Sellers exclusively own all, right, title and interest in all Owned Intellectual Property, free and clear of all Encumbrances (other than Permitted Encumbrances). Sellers are not bound standard, commercially available software developed or produced by any outstanding judgment, injunction, order or decree or any contractual obligation materially restricting the use by a Seller of the Owned Intellectual Property, or materially restricting the licensing thereof to any Person. With respect to the Registered Intellectual Property included in the Owned Intellectual Property listed on Schedule 4.09(a), (iothers) all such Registered Intellectual Property is subsisting and, to Sellers’ Knowledge, valid and enforceable, (ii) a Seller is the owner of record, and (iii) all maintenance fees and filings that are required to be made to maintain such Registered Intellectual Property have been timely provided or made (taking into account any applicable grace periods)available to Buyer.
(b) Schedule 4.09(b) sets forth, or at Seller and the Closing will set forth, a true and complete list of Subsidiary have the right to use all material Intellectual Property Licenses. Except as set forth on Schedule 4.09(b), Sellers have provided Buyer with true and complete copies of all (such Intellectual Property Licenses. All such Intellectual Property Licenses are, to Sellers’ Knowledge, valid, binding and enforceable between the applicable Seller and the other parties rights thereto, and Seller andincluding any rights to recovery for infringement, are collectively referred to Sellers’ Knowledge, such other parties in this Agreement as the "IP Rights"). There are in compliance no royalty agreements with the material terms and conditions of such Intellectual Property Licenses.
(c) To Sellers’ Knowledge, the conduct of the Business as currently conducted does not infringe, misappropriate, dilute or otherwise violate, and in the past three (3) years has not infringed, misappropriated or otherwise violated, any Intellectual Property rights Person with respect to commercialization of any Third Partyproducts presently sold or under development by Seller or the Subsidiary except license fees associated with commercially available items. Sellers have not received any notice that Sellers’ use of the Transferred Intellectual Property in the conduct of the Business as currently conducted infringes, misappropriates, dilutes Seller has taken all steps commercially reasonable or otherwise violates, or in the past three (3) years appropriate to maintain and fully protect all IP Rights. Seller has infringed, misappropriated or otherwise violated, any Intellectual Property Rights no Knowledge of any Third Party. No Proceedings are pending and no written notices have been received by Sellers during the past three (3) years (or earliermisuse, if presently not resolved), in each case, alleging any infringement, misappropriation or other violation by Sellers of the Intellectual Property rights of any Third PartyIP Rights of any other Person and Seller has no Knowledge of any actual, pending or threatened proceeding alleging any misuse, infringement, misappropriation or other violation of any IP Rights of any other Person. Except as set forth in Schedule 4.09(c)Part 4.13 of the Disclosure Schedule, neither Seller nor the Subsidiary has entered into any agreement, commitment or arrangement (whether written or oral) to Sellers’ Knowledge, during the past three (3) years (or earlier, if presently not resolved) no Person has infringed, misappropriated, diluted license or otherwise violated any of permit the Owned Intellectual Property use or Transferred Technology, and no Seller has made or asserted any claim, demand or notice against any person or entity alleging any such infringement, misappropriation, dilution or other violation. There is no Proceeding pending or, to Sellers’ Knowledge, threatened, challenging a Seller’s ownership exploitation of any Owned Intellectual PropertyIP Rights by any other Person (including that which would prevent, restrict or its right otherwise inhibit Buyer's freedom to use and exploit any Transferred Intellectual Property, or challenging the validity, registrability, or enforceability of any Registered Intellectual Property included in the Owned Intellectual Property.
(d) Sellers represent that they are, each as applicable, the registrant of record of each domain name as set forth in Schedule 4.09(d) (collectively, the “Domain Names”IP Rights).
(ec) Sellers have taken commercially reasonable measures to protect the confidentiality of all Trade Secrets included in the Owned Intellectual Property and no material Trade Secrets have been disclosed by Sellers to any Person except pursuant to written non-disclosure agreements or other obligations of confidentiality, and, to Sellers’ Knowledge, there has not been a breach of any such agreement or obligation by any such Person.
(f) To Seller’s Knowledge, Sellers have obtained from each Person (including current and former employees and independent contractors) who has created or developed for or on behalf of Sellers any Owned Intellectual Property that is material to the Business a written, present and, valid assignment of such Intellectual Property to a Seller.
(g) To Sellers’ Knowledge, in the past three (3) years, there has been no material unauthorized access to or material unauthorized use of any confidential or proprietary information or data that is both in Sellers’ possession or control and material to the Business.
(h) With respect to any material Software included within the Transferred Intellectual Property, to Sellers’ Knowledge (i) such Software is free from any material bugs, viruses or other malicious code, (ii) the Source Code for such Software has not been disclosed to any Third Party, and (iii) such Software does not contain, derive from or link to any open source Software in a manner that requires the disclosure of any proprietary Source Code, limits the ability to charge fees, or grants any license to any Third Party to make derivative works.
(i) Neither the The execution, delivery or and performance by Seller and Subsidiary of this Agreement, nor Agreement and the consummation of the transactions contemplated by the Ancillary Agreements hereby will result in not constitute a material breach of any instrument or agreement governing any IP Rights and will not (i) cause the material loss or impairment modification of any terms of any licenses or agreements relating to any IP Rights (including the modification of the Owned Intellectual Propertyeffective rate of any royalties or other payments provided for in any such license or agreement); (ii) cause the forfeiture or termination of any IP Rights; (iii) give rise to a right of forfeiture or termination of any IP Rights; or (iv) materially impair the right of Buyer to use, sell or license any IP Rights or portion thereof.
(jd) All third-party code that is incorporated into None of the proprietary Software included in manufacture, marketing, license, sale or intended use of any past or current product or technology licensed, sold or under development by the Transferred Intellectual Property and that is critical to Seller or the operation of such Software is commercially available (each a “Critical IP License” and collectively “Critical IP Licenses”), and following Closing, Buyer will be able to procure a license for all such third-party code for Subsidiary (i) an aggregate amount during violates any license or agreement between Seller or the one-year period immediately following the Closing that shall not exceed the amount reflected for such third-party code in the Unaudited Financial Statements by more than $200,000, Subsidiary and any other Person or (ii) an aggregate amount during to the twelve (12) months period following Knowledge of Seller, infringes any patents, trademarks, service marks, trade names, copyrights, logos, corporate names or identifying marks and styles of any other Person, or otherwise violates or infringes upon any intellectual property, trade secret or other confidential or proprietary information of any other Person. To the initial one-year period immediately following Closing that shall not exceed Knowledge of Seller, there is no pending or threatened claim or litigation contesting the amount reflected for such third-party code in validity, ownership or right to use, sell, license or dispose of any IP Rights of Seller, nor has Seller or the Unaudited Financial Statements by more than $200,000; provided Subsidiary received any notice asserting that any increases in IP Rights or the proposed use, sale, license fees resulting from a volume increase, additional licenses or other change in disposition thereof conflicts or will conflict with the operation rights of Business post Closing shall not be breaches of this representationany Person.
(ke) Buyer To the Knowledge of Seller, none of Seller's or the Subsidiary's employees or consultants with access to proprietary information of Seller and Sellers agree the Subsidiary, is obligated under any contract, covenant or other agreement or commitment of any nature, or subject to any judgment, decree or order of any Governmental Body that would (i) interfere with (A) the representations normal duties reasonably expected for the position held by that employee, or (B) such consultant's duties to Seller and warranties included the Subsidiary, or (ii) would conflict with Seller's or the Subsidiary's Business as presently conducted or as presently proposed to be conducted. Seller and the Subsidiary have not entered into agreements to indemnify any Person against any charge of infringement or misappropriation of any intellectual property, other than as set forth in this Section 4.09 shall be Part 4.17(e) of the sole Disclosure Schedule and exclusive representations in indemnification provisions contained in purchase orders or customer agreements arising in the ordinary course of business. All current and warranties former employees and consultants have signed written assignments to Seller or the Subsidiary of Sellers with respect any and all rights or claims in any intellectual property that any such employees or consultants have or may have by reason of any contribution, participation or other role in the development, conception, creation, reduction to Intellectual Property matters practice or authorship of any invention, innovation, development or work of authorship or any other intellectual property that is used in this Agreementthe Business, and Seller or the Subsidiary possesses original signed copies of all such written assignments in its files and has provided or made available copies of same to Buyer.
Appears in 4 contracts
Samples: Asset Purchase Agreement (Xyratex LTD), Asset Purchase Agreement (Xyratex LTD), Asset Purchase Agreement (Xyratex LTD)
Intellectual Property. (a) Schedule 4.09(a) sets forth a true and complete list of all (i) Registered Intellectual Property included in the Owned Intellectual Property, indicating for each item the registration or application number, the registration or application date, and the applicable filing jurisdiction and (ii) Owned Intellectual Property that is not registered but that is material to the operation of the Business. Sellers exclusively own all, right, title and interest in all Owned Intellectual Property, free and clear of all Encumbrances (other than Permitted Encumbrances). Sellers are not bound by any outstanding judgment, injunction, order or decree or any contractual obligation materially restricting the use by a Seller of the Owned Intellectual Property, or materially restricting the licensing thereof to any Person. With respect to the Registered Intellectual Property included in the Owned Intellectual Property listed on Schedule 4.09(a), (i) all such Registered Intellectual Property is subsisting and, to Sellers’ Knowledge, valid and enforceable, (ii) a Seller is the owner of record, and (iii) all maintenance fees and filings that are required to be made to maintain such Registered Intellectual Property have been timely made (taking into account any applicable grace periods).
(b) Schedule 4.09(b) sets forth, or at the Closing will set forth, a true and complete list of all Intellectual Property Licenses. Except as set forth on Schedule 4.09(b3.7(a)(i), Sellers have provided Buyer with true the Seller is the exclusive owner of all Intellectual Property, or has the rights to use all Intellectual Property, that is material or necessary to operate the Business as now conducted, free and clear of any Liens and Encumbrances (collectively such owned and licensed Intellectual Property is referred to herein as the “Seller Intellectual Property”) other than Permitted Encumbrances. Schedule 3.7(a)(ii) sets forth a true, complete copies and correct list of all such Seller Intellectual Property Licenses. All such Intellectual Property Licenses areProperty, to Sellers’ Knowledgeincluding, valid, binding and enforceable between without limitation formulas used in the applicable Seller and the other parties theretoBusiness, and Seller and, to Sellers’ Knowledge, such other parties are in compliance Intellectual Property that has been registered with the material terms United States Patent and conditions of Trademark Office or Copyright Office and pending applications for registration, in each case listing the title and current owner(s), the jurisdiction(s) in which such Seller Intellectual Property Licenseshas been issued or registered, and the application, serial or registration number, all of which will be transferred to the Buyer hereunder.
(cb) To Sellers’ KnowledgeExcept as set forth in Schedule 3.7(b), the conduct Seller has not received notice from any Person, nor has any knowledge of any valid basis for any Person to be, claiming that the operation of the Business as currently conducted does not infringe, misappropriate, dilute infringes or otherwise violate, and in the past three (3) years has not infringed, misappropriated or otherwise violated, any Intellectual Property rights of any Third Party. Sellers have not received any notice that Sellers’ use of the Transferred Intellectual Property in the conduct of the Business as currently conducted infringes, misappropriates, dilutes or otherwise violates, or in the past three (3) years has infringed, misappropriated or otherwise violated, any Intellectual Property Rights of any Third Party. No Proceedings are pending and no written notices have been received by Sellers during the past three (3) years (or earlier, if presently not resolved), in each case, alleging any infringement, misappropriation or other violation by Sellers of misappropriates the Intellectual Property rights of any Third PartyPerson or constitutes unfair competition or trade practices under the Laws of any jurisdiction. Except as set forth in Schedule 4.09(c)3.7(b) lists any complaint, to Sellers’ Knowledgeclaim, during or notice, or written threat thereof, received by the past three (3) years (Seller alleging any currently existing infringement, violation or earlier, if presently not resolved) no Person has infringed, misappropriated, diluted or otherwise violated any misappropriation of the Owned Intellectual Property or Transferred Technology, and no of any Person.
(c) With respect to each item of Seller Intellectual Property which is licensed to the Seller: (i) the Seller has made or asserted any claim, demand or notice against any person or entity alleging any such infringement, misappropriation, dilution or other violation. There is no Proceeding pending or, to Sellers’ Knowledge, threatened, challenging a Seller’s ownership of any Owned Intellectual Property, or its the valid right to use any Transferred such Intellectual Property, or challenging Property pursuant to a valid and enforceable license agreement; and (ii) the validity, registrability, or enforceability Seller is not in breach of any Registered Intellectual Property included applicable license agreement and is not aware of any party that is in breach of the applicable license agreement. Each license agreement to which the Seller is party will remain unchanged and unaffected by the Transactions and the consummation of the Transactions will not result in the Owned loss or impairment or termination of any Seller Intellectual Property.
(d) Sellers represent that they are, each as applicable, The Seller has taken all commercially reasonable steps necessary or required to insure the registrant privacy of record its databases and the security against breach of each domain name as set forth in Schedule 4.09(d) (collectively, the “Domain Names”)its computer systems by any unauthorized third party.
(e) Sellers have taken commercially reasonable measures to protect No Product provided or distributed by the confidentiality Seller in its conduct of all Trade Secrets included in the Owned Intellectual Property and no Business: (A) materially violates any Law; (B) includes any information or material Trade Secrets have been disclosed by Sellers to any Person except pursuant to written non-disclosure agreements or other obligations of confidentiality, andthat, to Sellers’ Knowledgethe Knowledge of the Seller, there has not been a breach is defamatory; or (C) to the Knowledge of the Seller, infringes any right of privacy of any Person. Each Person whose name, image, voice or likeness is incorporated into any Marketing Materials has executed a written release consenting to the Seller’s use of such agreement or obligation by Person’s name, image, voice and/or likeness (as applicable) and releasing the Seller from any claims with respect thereto, each of such releases are fully assignable to Buyer without further consent of any Person.
(f) To Seller’s Knowledge, Sellers have obtained from each Person (including current and former employees and independent contractors) who The Seller has created or developed for or on behalf of Sellers any Owned Intellectual Property that is material to operated the Business a writtenand provided all Products in material compliance with any posted privacy policies and all applicable Laws relating to privacy, present anddata protection, valid assignment of such Intellectual Property to a Seller.
anti-spam, telemarketing, personally identifiable information and similar consumer protection Laws (g) To Sellers’ Knowledge, in the past three (3) years, there “Information Privacy Laws”). The Seller has been no material unauthorized access to or material unauthorized use not received written notice of any confidential claims or proprietary information or data that been charged with violation of any Information Privacy Law. To the Knowledge of the Seller, the Seller is both in Sellers’ possession or control and material to the Business.
(h) With not under investigation with respect to any material Software included within the Transferred Intellectual Property, to Sellers’ Knowledge (i) such Software is free from any material bugs, viruses or other malicious code, (ii) the Source Code for such Software has not been disclosed to any Third Party, and (iii) such Software does not contain, derive from or link to any open source Software in a manner that requires the disclosure violation of any proprietary Source Code, limits the ability to charge fees, or grants any license to any Third Party to make derivative worksInformation Privacy Laws.
(i) Neither the execution, delivery or performance of this Agreement, nor the consummation of the transactions contemplated by the Ancillary Agreements will result in the material loss or impairment of any of the Owned Intellectual Property.
(j) All third-party code that is incorporated into the proprietary Software included in the Transferred Intellectual Property and that is critical to the operation of such Software is commercially available (each a “Critical IP License” and collectively “Critical IP Licenses”), and following Closing, Buyer will be able to procure a license for all such third-party code for (i) an aggregate amount during the one-year period immediately following the Closing that shall not exceed the amount reflected for such third-party code in the Unaudited Financial Statements by more than $200,000, and (ii) an aggregate amount during the twelve (12) months period following the initial one-year period immediately following Closing that shall not exceed the amount reflected for such third-party code in the Unaudited Financial Statements by more than $200,000; provided that any increases in license fees resulting from a volume increase, additional licenses or other change in the operation of Business post Closing shall not be breaches of this representation.
(k) Buyer and Sellers agree that the representations and warranties included in this Section 4.09 shall be the sole and exclusive representations and warranties of Sellers with respect to Intellectual Property matters in this Agreement.
Appears in 4 contracts
Samples: Asset Purchase Agreement (Synergy CHC Corp.), Asset Purchase Agreement (Synergy CHC Corp.), Asset Purchase Agreement (Synergy CHC Corp.)
Intellectual Property. (a) Schedule 4.09(a) sets forth a true and complete list of The Seller owns or has the right to use pursuant to license, sublicense, agreement, or permission all (i) Registered Intellectual Property included necessary for or currently used in the Owned Intellectual Property, indicating for each item the registration or application number, the registration or application date, and the applicable filing jurisdiction and (ii) Owned Intellectual Property that is not registered but that is material to the operation of the Businessbusiness of the Seller as presently conducted and as presently proposed to be conducted. Sellers exclusively own all, right, title and interest in all Owned Each item of Intellectual Property, free and clear of all Encumbrances (other than Permitted Encumbrances). Sellers are not bound Property owned or used by any outstanding judgment, injunction, order the Seller immediately prior to the Closing hereunder will be owned or decree or any contractual obligation materially restricting the available for use by a the Buyer on identical terms and conditions immediately subsequent to the Closing hereunder. The Seller has taken all necessary or desirable action to protect each item of the Owned Intellectual Property, Property that it owns or materially restricting the licensing thereof to any Personuses. With respect to the Registered such Intellectual Property included in the Owned Intellectual Property listed on Schedule 4.09(a), Property:
(i) all such Registered The Seller has not interfered with, infringed upon, misappropriated, or otherwise come into conflict with any Intellectual Property is subsisting andrights of third parties, to Sellers’ Knowledgeand the Seller has never received any charge, valid and enforceablecomplaint, claim, or notice alleging any such interference, infringement, misappropriation, or violation. To the Knowledge of the Seller, no third party has interfered with, infringed upon, misappropriated, or otherwise come into conflict with any Intellectual Property rights of the Seller.
(ii) a Section 2(j) of the Disclosure Schedule identifies each patent, trademark or copyright registration which has been issued to the Seller is with respect to any of its Intellectual Property and the owner call letters (current and past) of recordthe Stations, identifies each pending patent, trademark or copyright application for registration which the Seller has made with respect to any of its Intellectual Property, and (iii) all maintenance fees and filings that are required identifies each license, agreement, or other permission which the Seller has granted to be made any third party with respect to maintain such Registered any of its Intellectual Property have been timely made (taking into account together with any applicable grace periodsexceptions).
(b) Schedule 4.09(b) sets forth, or at . The Seller has delivered to the Closing will set forth, a true and complete list of all Intellectual Property Licenses. Except as set forth on Schedule 4.09(b), Sellers have provided Buyer with true correct and complete copies of all such patents, trademarks or copyright registrations, applications, licenses, agreements, and permissions (as amended to date) and has made available to the Buyer correct and complete copies of all other written documentation evidencing ownership and prosecution (if applicable) of each such item. With respect to each item of Intellectual Property Licenses. All such Intellectual Property Licenses arethat the Seller owns:
(A) the Seller possesses all right, title, and interest in and to the item and all registrations and applications are in full force and effect;
(B) the item is not subject to any outstanding judgment, order, decree, stipulation, injunction, or charge;
(C) no charge, complaint, action, suit, proceeding, hearing, investigation, claim, or demand is pending or, to Sellers’ Knowledgethe Knowledge of the Seller, validis threatened which challenges the legality, binding and enforceable between validity, enforceability, use, or ownership of the applicable Seller and the other parties thereto, and Seller item; and, to Sellers’ Knowledge, such other parties are in compliance with the material terms and conditions of such Intellectual Property Licenses.
(cD) To Sellers’ Knowledge, the conduct of the Business as currently conducted does not infringe, misappropriate, dilute or otherwise violate, and in the past three (3) years Seller has not infringed, misappropriated or otherwise violated, any Intellectual Property rights of any Third Party. Sellers have not received any notice that Sellers’ use of the Transferred Intellectual Property in the conduct of the Business as currently conducted infringes, misappropriates, dilutes or otherwise violates, or in the past three (3) years has infringed, misappropriated or otherwise violated, any Intellectual Property Rights of any Third Party. No Proceedings are pending and no written notices have been received by Sellers during the past three (3) years (or earlier, if presently not resolved), in each case, alleging any infringement, misappropriation or other violation by Sellers of the Intellectual Property rights of any Third Party. Except as set forth in Schedule 4.09(c), ever agreed to Sellers’ Knowledge, during the past three (3) years (or earlier, if presently not resolved) no Person has infringed, misappropriated, diluted or otherwise violated any of the Owned Intellectual Property or Transferred Technology, and no Seller has made or asserted any claim, demand or notice against indemnify any person or entity alleging for or against any such interference, infringement, misappropriation, dilution or other violationconflict with respect to the item.
(iii) Section 2(j) of the Disclosure Schedule also identifies each item of Intellectual Property that any third party owns and that the Seller uses pursuant to license, sublicense, agreement, or permission including, but not limited to the call letters of the Stations. There The Seller has supplied the Buyer with correct and complete copies of all such licenses, sublicenses, agreements, and permissions (as amended to date). With respect to each such item of used Intellectual Property:
(A) the license, sublicense, agreement, or permission covering the item is, and following the Closing will continue to be on identical terms, legal, valid, binding, enforceable, and in full force and effect;
(B) no party to the license, sublicense, agreement, or permission is in breach or default (or has repudiated any provision thereof), and no Proceeding pending event has occurred which with notice or lapse of time would constitute a breach or default or permit termination, modification, or acceleration thereunder;
(C) with respect to each sublicense, the representations and warranties set forth in subsections (A) and (B) above are true and correct with respect to the underlying license;
(D) the underlying item of Intellectual Property is not subject to any outstanding judgment, order, decree, stipulation, injunction, or charge;
(E) no charge, complaint, action, suit, proceeding, hearing, investigation, claim, or demand is pending, or, to Sellers’ Knowledgethe Knowledge of the Seller, threatenedis threatened which challenges the legality, challenging a Seller’s ownership of any Owned Intellectual Property, or its right to use any Transferred Intellectual Property, or challenging the validity, registrability, or enforceability of any Registered Intellectual Property included in the Owned underlying item of Intellectual Property;
(F) the Seller has not agreed to indemnify any person or entity for or against any interference, infringement, misappropriation, or other conflict with respect to the underlying item of Intellectual Property; and
(G) the Seller has not granted any sublicense or similar right with respect to the license, sublicense, agreement, or permission.
(div) Sellers represent The Seller has no Knowledge of any new products, inventions, procedures, or methods of processing that they are, each as applicable, the registrant of record of each domain name as set forth in Schedule 4.09(d) (collectively, the “Domain Names”).
(e) Sellers have taken commercially reasonable measures to protect the confidentiality of all Trade Secrets included in the Owned Intellectual Property and no material Trade Secrets have been disclosed by Sellers to any Person except pursuant to written non-disclosure agreements competitors or other obligations third parties have developed which reasonably could be expected to supersede or make obsolete any product or process of confidentiality, and, to Sellers’ Knowledge, there has not been a breach of any such agreement or obligation by any such Person.
(f) To Seller’s Knowledge, Sellers have obtained from each Person (including current and former employees and independent contractors) who has created or developed for or on behalf of Sellers any Owned Intellectual Property that is material to the Business a written, present and, valid assignment of such Intellectual Property to a Seller.
(g) To Sellers’ Knowledge, in the past three (3) years, there has been no material unauthorized access to or material unauthorized use of any confidential or proprietary information or data that is both in Sellers’ possession or control and material to the Business.
(h) With respect to any material Software included within the Transferred Intellectual Property, to Sellers’ Knowledge (i) such Software is free from any material bugs, viruses or other malicious code, (ii) the Source Code for such Software has not been disclosed to any Third Party, and (iii) such Software does not contain, derive from or link to any open source Software in a manner that requires the disclosure of any proprietary Source Code, limits the ability to charge fees, or grants any license to any Third Party to make derivative works.
(i) Neither the execution, delivery or performance of this Agreement, nor the consummation of the transactions contemplated by the Ancillary Agreements will result in the material loss or impairment of any of the Owned Intellectual Property.
(j) All third-party code that is incorporated into the proprietary Software included in the Transferred Intellectual Property and that is critical to the operation of such Software is commercially available (each a “Critical IP License” and collectively “Critical IP Licenses”), and following Closing, Buyer will be able to procure a license for all such third-party code for (i) an aggregate amount during the one-year period immediately following the Closing that shall not exceed the amount reflected for such third-party code in the Unaudited Financial Statements by more than $200,000, and (ii) an aggregate amount during the twelve (12) months period following the initial one-year period immediately following Closing that shall not exceed the amount reflected for such third-party code in the Unaudited Financial Statements by more than $200,000; provided that any increases in license fees resulting from a volume increase, additional licenses or other change in the operation of Business post Closing shall not be breaches of this representation.
(k) Buyer and Sellers agree that the representations and warranties included in this Section 4.09 shall be the sole and exclusive representations and warranties of Sellers with respect to Intellectual Property matters in this Agreement.
Appears in 4 contracts
Samples: Asset Purchase Agreement (Cumulus Media Inc), Asset Purchase Agreement (Cumulus Media Inc), Asset Purchase Agreement (Cumulus Media Inc)
Intellectual Property. (a) To the knowledge of GETCO, GETCO and its Subsidiaries own or have the right pursuant to written Contracts to use all Intellectual Property that is material to the conduct of the business of GETCO and its Subsidiaries.
(b) Section 3.16(b) of the GETCO Disclosure Schedule 4.09(a) sets forth a true and complete list of all (i) Registered currently registered and currently pending applications for registration of Intellectual Property included filed by or in the Owned Intellectual Propertyname of GETCO or any of its Subsidiaries in any jurisdiction, indicating for each item the registration jurisdiction, number and filing date. All of the rights of GETCO and its applicable Subsidiaries in the Intellectual Property identified on Section 3.16(b) of the GETCO Disclosure Schedule are, to the knowledge of GETCO, valid and enforceable. GETCO and its Subsidiaries have taken commercially reasonable actions to maintain and protect the Intellectual Property owned by GETCO or application numberits Subsidiaries (the “GETCO Intellectual Property”) and to protect the secrecy, the registration or application dateconfidentiality, and value of the applicable filing jurisdiction and (ii) Owned Intellectual Property trade secrets owned by GETCO or its Subsidiaries, in each case that is not registered but that is are material to the operation conduct of the Businessbusiness of GETCO and its Subsidiaries. Sellers GETCO exclusively own all, owns all right, title and interest in all Owned and to the GETCO Intellectual Property, free and clear of all Encumbrances (Liens, other than Permitted Encumbrances). Sellers are not bound by any outstanding judgment, injunction, order or decree or any contractual obligation materially restricting the use by a Seller of the Owned Intellectual Property, or materially restricting the licensing thereof to any Person. With respect to the Registered Intellectual Property included in the Owned Intellectual Property listed on Schedule 4.09(a), (i) all such Registered Intellectual Property is subsisting and, to Sellers’ Knowledge, valid and enforceable, (ii) a Seller is the owner of record, and (iii) all maintenance fees and filings that are required to be made to maintain such Registered Intellectual Property have been timely made (taking into account any applicable grace periods).
(b) Schedule 4.09(b) sets forth, or at the Closing will set forth, a true and complete list of all Intellectual Property Licenses. Except as set forth on Schedule 4.09(b), Sellers have provided Buyer with true and complete copies of all such Intellectual Property Licenses. All such Intellectual Property Licenses are, to Sellers’ Knowledge, valid, binding and enforceable between the applicable Seller and the other parties thereto, and Seller and, to Sellers’ Knowledge, such other parties are in compliance with the material terms and conditions of such Intellectual Property Licenses.
(c) To Sellers’ Knowledgethe knowledge of GETCO, the conduct operation of the Business as currently conducted business of GETCO and its Subsidiaries does not infringe, misappropriate, dilute infringe upon or otherwise violate, and in the past three (3) years has not infringed, misappropriated or otherwise violated, violate any Intellectual Property rights of others in any Third Party. Sellers have not received material respect.
(d) To the knowledge of GETCO, no Person is infringing upon or otherwise violating any notice that Sellers’ use of the Transferred GETCO Intellectual Property in any material respect.
(e) There are no unresolved claims pending or, to the conduct knowledge of the Business as currently conducted GETCO, threatened (i) alleging that GETCO or any of its Subsidiaries infringes, misappropriates, dilutes misappropriates or otherwise violates, or in the past three (3) years has infringed, misappropriated or otherwise violated, any Intellectual Property Rights of any Third Party. No Proceedings are pending and no written notices have been received by Sellers during the past three (3) years (or earlier, if presently not resolved), in each case, alleging any infringement, misappropriation or other violation by Sellers of the violates Intellectual Property rights of any Third Partythird Person in any material respect or (ii) opposing or attempting to cancel any rights of GETCO or any of its Subsidiaries in or to any material Intellectual Property. Except as set forth The consummation of the Mergers would not reasonably be expected to result in Schedule 4.09(c)the loss or impairment of or payment of any additional amounts with respect to, nor require the consent of any other Person in respect of, GETCO’s or any of its Subsidiaries’ right to Sellers’ Knowledgeown, during the past three (3) years (or earlieruse, if presently not resolved) no Person has infringedhold for use, misappropriated, diluted or otherwise violated exploit any Intellectual Property material to the conduct of the Owned Intellectual Property business of GETCO and its Subsidiaries, except as would not reasonably be expected to result in, individually or Transferred Technology, and no Seller has made or asserted any claim, demand or notice against any person or entity alleging any such infringement, misappropriation, dilution or other violation. There is no Proceeding pending or, to Sellers’ Knowledge, threatened, challenging a Seller’s ownership of any Owned Intellectual Property, or its right to use any Transferred Intellectual Property, or challenging the validity, registrability, or enforceability of any Registered Intellectual Property included in the Owned Intellectual Property.
(d) Sellers represent that they areaggregate, each as applicable, the registrant of record of each domain name as set forth in Schedule 4.09(d) (collectively, the “Domain Names”).
(e) Sellers have taken commercially reasonable measures to protect the confidentiality of all Trade Secrets included in the Owned Intellectual Property and no material Trade Secrets have been disclosed by Sellers to any Person except pursuant to written non-disclosure agreements or other obligations of confidentiality, and, to Sellers’ Knowledge, there has not been a breach of any such agreement or obligation by any such PersonMaterial Adverse Effect on GETCO.
(f) To Seller’s Knowledge, Sellers have obtained GETCO and each of its Subsidiaries has secured from each Person (including current and former of its employees and independent contractors) who has created or developed for or on behalf , as applicable, valid and binding assignments of Sellers any Owned all Intellectual Property rights developed by such employee or contractor that is material to the Business a written, present and, valid assignment of such Intellectual Property to a Seller.
(g) To Sellers’ Knowledge, in the past three (3) years, there has been no material unauthorized access to or material unauthorized use of any confidential or proprietary information or data that is both in Sellers’ possession or control and material to the Business.
(h) With respect to any material Software included within the Transferred Intellectual Property, to Sellers’ Knowledge (i) such Software is free from any material bugs, viruses or other malicious code, (ii) the Source Code for such Software has not been disclosed to any Third Party, and (iii) such Software does not contain, derive from or link to any open source Software in a manner that requires the disclosure of any proprietary Source Code, limits the ability to charge fees, or grants any license to any Third Party to make derivative works.
(i) Neither the execution, delivery or performance of this Agreement, nor the consummation of the transactions contemplated by the Ancillary Agreements will result in the material loss or impairment of comprise any of the Owned Intellectual Property.
(j) All third-party code that is incorporated into the proprietary Software included in the Transferred Intellectual Property and that is critical owned or purported to the operation of such Software is commercially available (each a “Critical IP License” and collectively “Critical IP Licenses”), and following Closing, Buyer will be able to procure a license for all such third-party code for (i) an aggregate amount during the one-year period immediately following the Closing that shall not exceed the amount reflected for such third-party code in the Unaudited Financial Statements owned by more than $200,000, and (ii) an aggregate amount during the twelve (12) months period following the initial one-year period immediately following Closing that shall not exceed the amount reflected for such third-party code in the Unaudited Financial Statements by more than $200,000; provided that any increases in license fees resulting from a volume increase, additional licenses GETCO or other change in the operation of Business post Closing shall not be breaches of this representationits Subsidiaries.
(k) Buyer and Sellers agree that the representations and warranties included in this Section 4.09 shall be the sole and exclusive representations and warranties of Sellers with respect to Intellectual Property matters in this Agreement.
Appears in 4 contracts
Samples: Agreement and Plan of Merger (KCG Holdings, Inc.), Agreement and Plan of Merger (Knight Capital Group, Inc.), Merger Agreement (Knight Capital Group, Inc.)
Intellectual Property. (a) Section 5.18(a) of the SpinCo Disclosure Schedule 4.09(a) sets forth a true and complete list of, as of the date hereof, all (i) Registered Intellectual Property included in the Owned Intellectual Property, indicating for each item the registration or application number, the registration or application date, and the applicable filing jurisdiction and (ii) SpinCo Owned Intellectual Property that is not the subject of any registration, issuance, or application for registration or issuance, with any Governmental Authority or Internet domain name registrar (specifying for each such item (i) the record owner (and, if different from the record owner, the beneficial owner), (ii) the jurisdiction in which such item has been issued, registered but or filed, (iii) the issuance, registration or application date and (iv) the issuance, registration or application number) (any Intellectual Property set forth or required to be set forth on Section 5.18(a) of the SpinCo Disclosure Schedule, collectively, the “SpinCo Registered Intellectual Property”).
(b) All SpinCo Registered Intellectual Property that is material to the operation SpinCo Business is subsisting, and, to the Knowledge of the BusinessSpinCo Group, valid and enforceable. Sellers Except as scheduled in Section 5.18(b) of the SpinCo Disclosure Schedule, to the Knowledge of the SpinCo Group, none of the SpinCo Registered Intellectual Property has been or is subject to any interference, derivation, reexamination, including ex parte reexamination, inter partes reexamination, inter partes review or post grant review, cancellation or opposition proceeding.
(c) SpinCo solely and exclusively own all, rightowns all rights, title and interest in all and to the SpinCo Owned Intellectual Property, in each case, free and clear of all Encumbrances Liens (other than Permitted EncumbrancesLiens and the license granted pursuant to Section 7.18(c). Sellers are not bound by any outstanding judgment, injunction, order or decree or any contractual obligation materially restricting ) and to the use by a Seller Knowledge of the Owned Intellectual PropertySpinCo Group, or materially restricting the licensing thereof SpinCo has valid and enforceable rights to any Person. With respect use and exploit, pursuant to the Registered a written SpinCo Contract, all other Intellectual Property included in the Owned Intellectual Property listed on Schedule 4.09(a), (i) all such Registered Intellectual Property is subsisting and, to Sellers’ Knowledge, valid and enforceable, (ii) a Seller is the owner of record, and (iii) all maintenance fees and filings that are required to be made to maintain such Registered Intellectual Property have been timely made (taking into account any applicable grace periods).
(b) Schedule 4.09(b) sets forth, or at the Closing will set forth, a true and complete list of all Intellectual Property Licenses. Except as set forth on Schedule 4.09(b), Sellers have provided Buyer with true and complete copies of all such Intellectual Property Licenses. All such Intellectual Property Licenses are, to Sellers’ Knowledge, valid, binding and enforceable between the applicable Seller and the other parties thereto, and Seller and, to Sellers’ Knowledge, except for such other parties are in compliance with the material terms and conditions of such Intellectual Property Licenses.
(c) To Sellers’ Knowledge, the conduct of the Business as currently conducted does not infringe, misappropriate, dilute or otherwise violate, and in the past three (3) years has not infringed, misappropriated or otherwise violated, any Intellectual Property rights of any Third Party. Sellers have not received any notice that Sellers’ use of the Transferred Intellectual Property in the public domain for which no license is necessary) used or practiced by the SpinCo Business that is material to the SpinCo Business. The SpinCo Intellectual Property constitutes all Intellectual Property (except for such other Intellectual Property in the public domain for which no license is necessary) used in, and necessary and sufficient for, the conduct and operation of the Business SpinCo Business, as currently conducted infringesconducted; provided, misappropriates, dilutes or otherwise violates, or that the foregoing representation shall not in the past three (3) years has infringed, misappropriated or otherwise violated, any Intellectual Property Rights way be construed as a representation of any Third Party. No Proceedings are pending and no written notices have been received by Sellers during the past three (3) years (or earlier, if presently not resolved), in each case, alleging any infringement, misappropriation non-infringement or other violation by Sellers of the Intellectual Property rights of any Third Party. Except as set forth in Schedule 4.09(c), to Sellers’ Knowledge, during the past three (3) years (or earlier, if presently not resolved) no Person has infringed, misappropriated, diluted or otherwise violated any of the Owned Intellectual Property or Transferred Technology, and no Seller has made or asserted any claim, demand or notice against any person or entity alleging any such infringement, misappropriation, dilution or other violation. There is no Proceeding pending or, to Sellers’ Knowledge, threatened, challenging a Seller’s ownership of any Owned Intellectual Property, or its right to use any Transferred Intellectual Property, or challenging the validity, registrability, or enforceability of any Registered Intellectual Property included in the Owned Intellectual PropertyPerson.
(d) Sellers represent that they are, each as applicable, To the registrant Knowledge of record of each domain name as set forth in Schedule 4.09(d) (collectively, the “Domain Names”).
(e) Sellers have taken commercially reasonable measures to protect the confidentiality of all Trade Secrets included in the Owned Intellectual Property and no material Trade Secrets have been disclosed by Sellers to any Person except pursuant to written non-disclosure agreements or other obligations of confidentiality, and, to Sellers’ Knowledge, there has not been a breach of any such agreement or obligation by any such Person.
(f) To Seller’s Knowledge, Sellers have obtained from each Person (including current and former employees and independent contractors) who has created or developed for or on behalf of Sellers any Owned Intellectual Property that is material to the Business a written, present and, valid assignment of such Intellectual Property to a Seller.
(g) To Sellers’ KnowledgeSpinCo Group, in the past three (3) years, there none of the Company or any of its Subsidiaries (excluding SpinCo) (in each case solely with respect to the SpinCo Business) or SpinCo, the conduct of the SpinCo Business, or any SpinCo Owned Intellectual Property has been no material unauthorized access to infringed, misappropriated (or material unauthorized use constituted or resulted from a misappropriation of), or otherwise violated, or is infringing, misappropriating (or constitutes or results from the misappropriation of), or otherwise violating any Intellectual Property of any confidential Person. To the Knowledge of the SpinCo Group, none of the Company or proprietary information any of its Subsidiaries (excluding SpinCo) (in each case solely with respect to the SpinCo Business) or data SpinCo has received from any Person in the past three (3) years any written notice charge, complaint, claim or other assertion: (i) of any infringement, misappropriation or other violation of any Intellectual Property of any Person or (ii) challenging the ownership, use, validity or enforceability of any SpinCo Owned Intellectual Property, in each case of clauses (i) and (ii) that is both in Sellers’ possession or control and material to the SpinCo Business as currently conducted.
(e) To the Knowledge of the SpinCo Group, no other Person has infringed, misappropriated, diluted or violated, or is infringing, misappropriating, diluting or violating, any SpinCo Owned Intellectual Property or any SpinCo Licensed Intellectual Property exclusively licensed to the Company or any of its Subsidiaries, in each case, that is material to the SpinCo Business. No such claims have been made in writing or, to the Knowledge of the SpinCo Group, otherwise made against any Person by the Company or any of its Subsidiaries (excluding SpinCo) (in each case solely with respect to the SpinCo Business) or SpinCo in the past three (3) years.
(f) To the Knowledge of the SpinCo Group, the Company and its Subsidiaries (excluding SpinCo) (in each case solely with respect to the SpinCo Business) and SpinCo have taken and currently take reasonably adequate and commercially reasonable steps to maintain the secrecy and confidentiality of all Trade Secrets included in the SpinCo Owned Intellectual Property and all Trade Secrets of any Person to whom, the Company or any of its Subsidiaries (excluding SpinCo) (in each case solely with respect to the SpinCo Business) or SpinCo, has a confidentiality obligation with respect to such Trade Secrets. No Trade Secret material to the SpinCo Business has been authorized by SpinCo, the Company or any of its Subsidiaries, to be disclosed (or, to the Knowledge of the SpinCo Group, has been disclosed) to any Person other than (i) pursuant to a written agreement reasonably restricting the disclosure and use of such Trade Secret or (ii) to a Person who otherwise has a duty to protect such Trade Secret.
(g) Each of the past and present employees of, and individuals acting on a consultant or independent contractor basis for, SpinCo, the Company or any of its Subsidiaries who has been or is engaged in inventing, creating, conceiving or developing any Intellectual Property that is material to the SpinCo Business as currently conducted for the Company or any of its Subsidiaries (excluding SpinCo) (in each case solely with respect to the SpinCo Business) or SpinCo, has executed and delivered to the Company or such Subsidiary or SpinCo, as applicable, a written agreement, pursuant to which such Person (x) agreed to hold all confidential information of the SpinCo Business in confidence both during and after such Person’s employment or retention, as applicable, and (y) assigned to SpinCo, the Company or such Subsidiary, as applicable, all of such Person’s rights, title and interest in and to all Intellectual Property invented, created, conceived or developed in the course of such Person’s employment or engagement thereby (each, a “Personnel IP Contract”). To the Knowledge of the SpinCo Group, there is no uncured breach by any such Person with respect to any Intellectual Property that is material to the SpinCo Business as currently conducted under any such Personnel IP Contract.
(h) With respect No funding, facilities or personnel of any Governmental Authority or any university, college, research institute or other educational institution has been or is being used to invent, create, conceive or develop, in whole or in part, (i) any SpinCo Owned Intellectual Property or (ii) to the Knowledge of the SpinCo Group, any SpinCo Licensed Intellectual Property exclusively licensed to SpinCo, the Company or any of its Subsidiaries, in each case of clauses (i) and (ii), that is material Software included within to the Transferred SpinCo Business as currently conducted, except for any such funding or use of facilities or personnel that (A) does not result in such Governmental Authority, university, college, research institute or other educational institution obtaining or retaining, or having the right to obtain or retain ownership of, or use rights to (except for use rights during the term of the applicable SpinCo Contract with such Governmental Authority, university, college, research institute or other educational institution), any SpinCo Owned Intellectual Property, or (B) does not require or otherwise obligate SpinCo, the Company or any of its Subsidiaries to Sellers’ Knowledge (i) such Software is free from grant or offer to any material bugsGovernmental Authority, viruses university, college, research institute or other malicious code, (ii) the Source Code for such Software has not been disclosed to educational institution any Third Party, and (iii) such Software does not contain, derive from license or link to any open source Software in a manner that requires the disclosure of any proprietary Source Code, limits the ability to charge feesother right to, or grants covenant not to assert with respect to, any license to any Third Party to make derivative worksSpinCo Owned Intellectual Property (except for use rights during the term of the applicable SpinCo Contract with such Governmental Authority, university, college, research institute or other educational institution).
(i) Neither the execution, delivery or performance execution of this Agreement, Agreement or any of the other Transaction Documents nor the consummation of the transactions contemplated by the Ancillary Agreements Transactions will result in the material loss or impairment of, or any Lien on, the payment of any additional consideration, or the reduction of the Owned any amount(s) payable in connection with, any material SpinCo Intellectual Property.
(j) All third-party code that is incorporated into the proprietary Software included in the Transferred Intellectual Property and that is critical to the operation of such Software is commercially available (each a “Critical IP License” and collectively “Critical IP Licenses”), and following Closing, Buyer will be able to procure a license for all such third-party code for (i) an aggregate amount during the one-year period immediately following the Closing that shall not exceed the amount reflected for such third-party code in the Unaudited Financial Statements by more than $200,000, and (ii) an aggregate amount during the twelve (12) months period following the initial one-year period immediately following Closing that shall not exceed the amount reflected for such third-party code in the Unaudited Financial Statements by more than $200,000; provided that any increases in license fees resulting from a volume increase, additional licenses or other change in the operation of Business post Closing shall not be breaches of this representation.
(k) Buyer and Sellers agree that the representations and warranties included in this Section 4.09 shall be the sole and exclusive representations and warranties of Sellers with respect to Intellectual Property matters in this Agreement.
Appears in 4 contracts
Samples: Merger Agreement (Citius Pharmaceuticals, Inc.), Merger Agreement (10XYZ Holdings LP), Merger Agreement (TenX Keane Acquisition)
Intellectual Property. (a) Schedule 4.09(a) Section 4.19 of the XXX Disclosure Letter sets forth a true and complete list of all (i) Registered Intellectual Property included patents and pending patent applications, trademark registrations and pending trademark applications, copyright registrations and domain name registrations, in each case which are owned by XXX or a Subsidiary of XXX as of the Owned Intellectual Propertydate hereof. XXX or a Subsidiary of XXX owns, indicating for each item or is licensed or otherwise has the registration or application numberright to use, the registration or application date, and the applicable filing jurisdiction and (ii) Owned all Intellectual Property that is not registered but that is used in and material to the operation conduct of the Business. Sellers exclusively own all, right, title business of XXX and interest in all Owned Intellectual Property, free and clear of all Encumbrances (other than Permitted Encumbrances). Sellers are not bound by any outstanding judgment, injunction, order or decree or any contractual obligation materially restricting the use by a Seller of the Owned Intellectual Property, or materially restricting the licensing thereof to any Person. With respect to the Registered Intellectual Property included in the Owned Intellectual Property listed on Schedule 4.09(a), (i) all such Registered Intellectual Property is subsisting and, to Sellers’ Knowledge, valid and enforceable, (ii) a Seller is the owner of record, and (iii) all maintenance fees and filings that are required to be made to maintain such Registered Intellectual Property have been timely made (taking into account any applicable grace periods)its Subsidiaries as presently conducted.
(b) Schedule 4.09(b) sets forthTo the Knowledge of XXX, the conduct of the business of XXX and its Subsidiaries does not and, since December 31, 2018, did not infringe, misappropriate or at the Closing will set forth, a true and complete list of all otherwise violate any Intellectual Property Licenses. Except rights of any Person, and, as set forth on Schedule 4.09(b)of the date hereof, Sellers have provided Buyer with true and complete copies there is no Action pending or, to the Knowledge of all such XXX, threatened in writing that XXX or any of its Subsidiaries is infringing, misappropriating or otherwise violating the Intellectual Property Licensesrights of any Person. All such To the Knowledge of XXX, no Person is infringing any Intellectual Property Licenses are, to Sellers’ Knowledge, valid, binding and enforceable between the applicable Seller and the other parties thereto, and Seller and, to Sellers’ Knowledge, such other parties are in compliance with the material terms and conditions rights owned by XXX or a Subsidiary of such Intellectual Property LicensesXXX.
(c) To Sellers’ Knowledgethe Knowledge of XXX, none of the Software owned by XXX or any of its Subsidiaries that is used in and material to the conduct of the Business business of XXX and its Subsidiaries as currently presently conducted does not infringeincludes any “open source” or “copyleft” software that would require, misappropriatebased on the use of such software as used prior to the date hereof, dilute any material components of such software to be licensed, disclosed or otherwise violatedistributed to any non-Affiliated Person under any terms, including making the source code publicly available.
(d) At all times since December 31, 2018, XXX and its Subsidiaries have taken reasonable steps, including implementing administrative, technical, and physical security measures, to protect Personal Data and confidential information in the past three (3) years has not infringedtheir possession or control against damage, misappropriated loss, and against unauthorized access, acquisition, use, modification, disclosure or otherwise violatedother misuse, including any Intellectual Property rights of any Third Party. Sellers have not received any notice that Sellers’ use of the Transferred Intellectual Property in the conduct of the Business as currently conducted infringesforegoing required by any applicable Privacy and Data Security Laws, misappropriates, dilutes or otherwise violates, or in the past three (3) years has infringed, misappropriated or otherwise violated, any Intellectual Property Rights of any Third Party. No Proceedings are pending Privacy Agreements and no written notices have been received by Sellers during the past three (3) years (or earlier, if presently not resolved), in each case, alleging any infringement, misappropriation or other violation by Sellers of the Intellectual Property rights of any Third Partyits Privacy and Data Security Policies. Except as set forth in Schedule 4.09(c)Section 4.19(d) of the XXX Disclosure Letter, to Sellers’ Knowledgesince December 31, during 2018, there has been no unauthorized access, use, or disclosure of Personal Data or confidential information in the past three (3) years (possession or earliercontrol of XXX, if presently not resolved) no Person has infringed, misappropriated, diluted or otherwise violated its Subsidiaries and any of the Owned Intellectual Property their contractors with regard to any Personal Data and confidential information obtained from or Transferred Technology, and no Seller has made or asserted any claim, demand or notice against any person or entity alleging any such infringement, misappropriation, dilution or other violation. There is no Proceeding pending or, to Sellers’ Knowledge, threatened, challenging a Seller’s ownership on behalf of any Owned Intellectual Property, XXX or its right to use any Transferred Intellectual Property, or challenging the validity, registrability, or enforceability of any Registered Intellectual Property included in the Owned Intellectual Property.
(d) Sellers represent that they are, each as applicable, the registrant of record of each domain name as set forth in Schedule 4.09(d) (collectively, the “Domain Names”)Subsidiaries.
(e) Sellers have taken commercially reasonable measures to protect the confidentiality of XXX and its Subsidiaries have, and since December 31, 2018 had, fully implemented written Privacy and Data Security Policies. XXX and its Subsidiaries are, and at all Trade Secrets included in the Owned Intellectual Property and no material Trade Secrets times since December 31, 2018 have been disclosed by Sellers to any Person except pursuant to written non-disclosure agreements or other obligations of confidentiality, and, to Sellers’ Knowledge, there has not been a breach of any such agreement or obligation by any such Person.
(f) To Seller’s Knowledge, Sellers have obtained from each Person (including current and former employees and independent contractors) who has created or developed for or on behalf of Sellers any Owned Intellectual Property that is in compliance in all material to the Business a written, present and, valid assignment of such Intellectual Property to a Seller.
(g) To Sellers’ Knowledge, in the past three (3) years, there has been no material unauthorized access to or material unauthorized use of any confidential or proprietary information or data that is both in Sellers’ possession or control and material to the Business.
(h) With respect to any material Software included within the Transferred Intellectual Property, to Sellers’ Knowledge respects with (i) such Software is free from any material bugs, viruses or other malicious codeall Privacy and Data Security Laws, (ii) the Source Code for such Software has not been disclosed to any Third Party, all Privacy Agreements and (iii) such Software does not contain, derive from or link to any open source Software in a manner that requires the disclosure of any proprietary Source Code, limits the ability to charge fees, or grants any license to any Third Party to make derivative works.
(i) their Privacy and Data Security Policies. Neither the execution, delivery delivery, or performance of this Agreement, nor the consummation of any of the transactions contemplated under this Agreement, nor LMHC’s or its Subsidiaries’ possession or Processing of Personal Data consistent with XXX and its Subsidiaries’ current operations will violate any of the Privacy Agreements, its Privacy and Data Security Policies, or any applicable Privacy and Data Security Laws.
(f) There is no pending, nor since December 31, 2018 has there ever been any, complaint, audit, proceeding, investigation, or claim against XXX or its Subsidiaries initiated by the Ancillary Agreements will result any Person or any Governmental Authority alleging that any Processing of Personal Data by XXX or its Subsidiaries (i) is in the material loss or impairment violation of any applicable Privacy and Data Security Laws, (ii) is in violation of any Privacy Agreements, (iii) is in violation of any of the Owned Intellectual Propertytheir Privacy and Data Security Policies or (iv) otherwise constitutes an unfair, deceptive, misleading, or abusive trade practice.
(jg) All third-party code that is incorporated into the proprietary Software included XXX and its Subsidiaries have in the Transferred Intellectual Property and that is critical place commercially reasonable procedures to the operation of such Software is commercially available (each a “Critical IP License” and collectively “Critical IP Licenses”)contractually require all third parties, including vendors, Affiliates, and following Closingother Persons providing services to XXX or its Subsidiaries that have access to or receive Personal Data from or on behalf of XXX or its Subsidiaries to comply with all applicable Privacy and Data Security Laws, Buyer will be able to procure have a license for all such third-party code for (i) an aggregate amount during the one-year period immediately following the Closing that shall not exceed the amount reflected for such third-party code in the Unaudited Financial Statements by more than $200,000written contract requiring compliance with applicable Privacy and Data Security Laws, and (ii) an aggregate amount during the twelve (12) months period following the initial one-year period immediately following Closing to take reasonable steps to ensure that shall not exceed the amount reflected for all Personal Data and confidential information in such third-party code in the Unaudited Financial Statements by more than $200,000; provided that any increases in license fees resulting from a volume increasethird parties’ possession or control is protected against damage, additional licenses loss, and against unauthorized access, acquisition, use, modification, disclosure or other change in the operation of Business post Closing shall not be breaches of this representationmisuse.
(k) Buyer and Sellers agree that the representations and warranties included in this Section 4.09 shall be the sole and exclusive representations and warranties of Sellers with respect to Intellectual Property matters in this Agreement.
Appears in 3 contracts
Samples: Merger Agreement (State Auto Financial CORP), Merger Agreement, Merger Agreement
Intellectual Property. (a) Except as set forth in Schedule 4.09(a) sets forth a true 2.7(a): Seller owns all rights, title and complete list of all (i) Registered Intellectual Property included interest in and to the Owned Intellectual Property, indicating for each item the registration or application number, the registration or application date, and the applicable filing jurisdiction conduct of the activities of the Business currently and (ii) Owned in the past does not conflict with and has not conflicted with Intellectual Property that rights of others. All Intellectual Property used or held for use in the conduct of the activities of the Business owned by Seller is so owned free and clear of all Liens (other than as set forth on Schedule 2.7)and no other person, including without limitation any present or former employee, officer or director of Seller, has any right whatsoever therein. Neither Seller, nor to Seller's knowledge, any present or former employee thereof, has violated or, by conducting the activities of the Business in the ordinary course consistent with past practice would violate, any intellectual property rights whatsoever of any other person or entity. Seller does not registered but that is material have any obligation to compensate any person or entity for the use of any Intellectual Property relating to the operation Seller Assets. Except for License Agreements granted in the ordinary course of business, Seller has not granted to any person or entity any license, option or other rights to use in any manner any Intellectual Property whether requiring the Business. Sellers exclusively own all, payment of royalties or not.
(b) Except as set forth on Schedule 2.10(b): Seller owns all right, title and interest in all Owned Intellectual Propertyand to the Software. No person or entity other than Seller owns any right, free and clear of all Encumbrances title or interest in the Software including, without limitation, any right to manufacture, use, copy, distribute or sublicense any object code or source code thereof. The Software is (i) not subject to any Liens (other than Permitted Encumbrances). Sellers are not bound by any outstanding judgment, injunction, order or decree or any contractual obligation materially restricting the use by a Seller of the Owned Intellectual Property, or materially restricting the licensing thereof to any Person. With respect to the Registered Intellectual Property included in the Owned Intellectual Property listed as set forth on Schedule 4.09(a), (i2.7) all such Registered Intellectual Property is subsisting and, to Sellers’ Knowledge, valid and enforceable, (ii) a not subject to any pending or, to Seller's best knowledge, threatened challenge of infringement of the rights of others, nor to the best knowledge of Seller is the owner there any basis for a challenge of recordinfringement of any such rights of others, and (iii) all maintenance fees freely transferable and filings that are required assignable to be made to maintain such Registered Intellectual Property have been timely made (taking into account any applicable grace periods)Buyer.
(b) Schedule 4.09(b) sets forth, or at the Closing will set forth, a true and complete list of all Intellectual Property Licenses. Except as set forth on Schedule 4.09(b), Sellers have provided Buyer with true and complete copies of all such Intellectual Property Licenses. All such Intellectual Property Licenses are, to Sellers’ Knowledge, valid, binding and enforceable between the applicable Seller and the other parties thereto, and Seller and, to Sellers’ Knowledge, such other parties are in compliance with the material terms and conditions of such Intellectual Property Licenses.
(c) To Sellers’ Knowledge, the conduct of the Business as currently conducted does not infringe, misappropriate, dilute or otherwise violate, and in the past three (3) years has not infringed, misappropriated or otherwise violated, any Intellectual Property rights of any Third Party. Sellers have not received any notice that Sellers’ use of the Transferred Intellectual Property in the conduct of the Business as currently conducted infringes, misappropriates, dilutes or otherwise violates, or in the past three (3) years has infringed, misappropriated or otherwise violated, any Intellectual Property Rights of any Third Party. No Proceedings are pending and no written notices have been received by Sellers during the past three (3) years (or earlier, if presently not resolved), in each case, alleging any infringement, misappropriation or other violation by Sellers of the Intellectual Property rights of any Third Party. Except as set forth in Schedule 4.09(c), to Sellers’ Knowledge, during the past three (3) years (or earlier, if presently not resolved) no Person has infringed, misappropriated, diluted or otherwise violated any of the Owned Intellectual Property or Transferred Technology, and no Seller has made or asserted any claim, demand or notice against any person or entity alleging any such infringement, misappropriation, dilution or other violation. There is no Proceeding pending or, to Sellers’ Knowledge, threatened, challenging a Seller’s ownership of any Owned Intellectual Property, or its right to use any Transferred Intellectual Property, or challenging the validity, registrability, or enforceability of any Registered Intellectual Property included in the Owned Intellectual Property.
(d) Sellers represent that they are, each as applicable, the registrant of record of each domain name as set forth in Schedule 4.09(d) (collectively, the “Domain Names”).
(e) Sellers have taken commercially reasonable measures to protect the confidentiality of all Trade Secrets included in the Owned Intellectual Property and no material Trade Secrets have been disclosed by Sellers to any Person except pursuant to written non-disclosure agreements or other obligations of confidentiality, and, to Sellers’ Knowledge, there has not been a breach of any such agreement or obligation by any such Person.
(f) To Seller’s Knowledge, Sellers have obtained from each Person (including current and former employees and independent contractors) who has created or developed for or on behalf of Sellers any Owned Intellectual Property that is material to the Business a written, present and, valid assignment of such Intellectual Property to a Seller.
(g) To Sellers’ Knowledge, in the past three (3) years, there has been no material unauthorized access to or material unauthorized use of any confidential or proprietary information or data that is both in Sellers’ possession or control and material to the Business.
(h) With respect to any material Software included within the Transferred Intellectual Property, to Sellers’ Knowledge (i) such Software is free from any material bugs, viruses or other malicious code, (ii) the Source Code for such Software has not been disclosed to any Third Party, and (iii) such Software does not contain, derive from or link to any open source Software in a manner that requires the disclosure of any proprietary Source Code, limits the ability to charge fees, or grants any license to any Third Party to make derivative works.
(i) Neither the execution, delivery or performance of this Agreement, nor the consummation of the transactions contemplated by the Ancillary Agreements will result in the material loss or impairment of any of the Owned Intellectual Property.
(j) All third-party code that is incorporated into the proprietary Software included in the Transferred Intellectual Property and that is critical to the operation of such Software is commercially available (each a “Critical IP License” and collectively “Critical IP Licenses”), and following Closing, Buyer will be able to procure a license for all such third-party code for (i) an aggregate amount during the one-year period immediately following the Closing that shall not exceed the amount reflected for such third-party code in the Unaudited Financial Statements by more than $200,000, and (ii) an aggregate amount during the twelve (12) months period following the initial one-year period immediately following Closing that shall not exceed the amount reflected for such third-party code in the Unaudited Financial Statements by more than $200,000; provided that any increases in license fees resulting from a volume increase, additional licenses or other change in the operation of Business post Closing shall not be breaches of this representation.
(k) Buyer and Sellers agree that the representations and warranties included in this Section 4.09 shall be the sole and exclusive representations and warranties of Sellers with respect to Intellectual Property matters in this Agreement.
Appears in 3 contracts
Samples: Asset Purchase Agreement (Powercerv Corp), Asset Purchase Agreement (Asa International LTD), Asset Purchase Agreement (Powercerv Corp)
Intellectual Property. (7.1. The Parties hereby recognize and agree that all rights in XYO reside with Perpetual and that Perpetual has valuable rights in and to XYO. Nothing in this Agreement shall be construed as granting Customer any ownership rights in and to XYO. The Parties agree that any enhancements, improvements, modifications to XYO, or inventions related to XYO, during the course of this Agreement or following termination shall belong to Perpetual and be deemed to form part of XYO as defined herein. Customer hereby irrevocably assigns to Perpetual any and all rights which it may hereafter acquire in and related to XYO. For greater certainty:
a) Schedule 4.09(a) sets forth a true Customer shall, at Perpetual’s request and complete list of all (i) Registered Intellectual Property included expense, apply for letters patent either in the Owned Intellectual Property, indicating for each item the registration Customer’s name or application number, the registration or application dateotherwise as Perpetual shall direct, and the applicable filing jurisdiction Customer agrees to assign and (ii) Owned Intellectual Property that is not registered but that is material does assign to the operation Perpetual all of the Business. Sellers exclusively own all, Customer’s right, title and interest in and to such enhancements, improvements, modifications to XYO, or inventions related to XYO, all Owned Intellectual Propertyof the foregoing without royalty or any other consideration to Customer, free and clear of all Encumbrances (other than Permitted Encumbrances). Sellers are not bound as specifically provided for in this Agreement.
b) Customer agrees that should any right, title or interest in or to any enhancements, improvements, modifications to XYO, or inventions related to XYO, become vested in Customer by operation of law or otherwise, Customer shall hold the same in trust from Perpetual and at the request of Perpetual shall immediately and unconditionally assign any outstanding judgmentsuch right, injunctiontitle or interest to Perpetual.
c) Customer further agrees with Perpetual to execute and deliver such further and other documents and do and perform and cause to be done and performed such further or other acts and things as may be necessary or desirable in the opinion of Perpetual to give full effect to this Agreement, order or decree or any contractual obligation materially restricting including without limiting the use by a Seller generality of the Owned Intellectual Propertyforegoing, such documents, acts and things as may in the opinion of Perpetual be necessary or desirable to obtain and maintain patents, copyrights and/or industrial designs in respect of enhancements, improvements, modifications to XYO, or materially restricting inventions related to XYO, and to vest the licensing thereof entire right, title and interest in and to patents, copyrights and/or industrial designs in respect of such in Perpetual.
7.2. Perpetual may, in its sole discretion, but shall not be obliged to, take all reasonably necessary steps to protect XYO by way of patent protection in any Person. With respect part of the worldwide market in which such protection has not yet been obtained, including but not limited to patent applications specifically describing the application of XYO to the Registered Intellectual Property included in the Owned Intellectual Property listed on Schedule 4.09(a), (i) all Products. All costs associated with obtaining such Registered Intellectual Property is subsisting and, to Sellers’ Knowledge, valid and enforceable, (ii) a Seller is the owner of recordpatent protection, and (iii) all maintenance fees and filings that are required payable in respect thereof, shall be borne by Perpetual. Should Perpetual choose not to be made to maintain pursue such Registered Intellectual Property patent protection, then Customer shall have been timely made (taking into account any applicable grace periods).
(b) Schedule 4.09(b) sets forththe option, or at the Closing will set forth, a true and complete list of all Intellectual Property Licenses. Except as set forth on Schedule 4.09(b), Sellers have provided Buyer with true and complete copies of all such Intellectual Property Licenses. All such Intellectual Property Licenses are, to Sellers’ Knowledge, valid, binding and enforceable between the applicable Seller and the other parties thereto, and Seller and, to Sellers’ Knowledge, such other parties are in compliance with the material terms specific written consent of Perpetual, of pursuing this same patent protection and conditions of shall pay all costs associated with obtaining such Intellectual Property Licenses.
(c) To Sellers’ Knowledge, the conduct of the Business as currently conducted does not infringe, misappropriate, dilute or otherwise violate, patent protection and in the past three (3) years has not infringed, misappropriated or otherwise violated, any Intellectual Property rights of any Third Partyall maintenance fees payable thereon. Sellers have not received any notice that Sellers’ use of the Transferred Intellectual Property in the conduct of the Business as currently conducted infringes, misappropriates, dilutes or otherwise violates, or in the past three (3) years has infringed, misappropriated or otherwise violated, any Intellectual Property Rights of any Third Party. No Proceedings are pending and no written notices have been received by Sellers during the past three (3) years (or earlier, if presently not resolved), in each case, alleging any infringement, misappropriation or other violation by Sellers of the Intellectual Property rights of any Third Party. Except as set forth in Schedule 4.09(c), to Sellers’ Knowledge, during the past three (3) years (or earlier, if presently not resolved) no Person has infringed, misappropriated, diluted or otherwise violated any of the Owned Intellectual Property or Transferred Technology, and no Seller has made or asserted any claim, demand or notice against any person or entity alleging Customer must name Perpetual on any such infringement, misappropriation, dilution or other violation. There is no Proceeding pending or, to Sellers’ Knowledge, threatened, challenging patent and patent application and shall grant Perpetual a Seller’s ownership of any Owned Intellectual Property, or its royalty-free right to use any Transferred Intellectual Property, the said patent and patent application.
7.3. Customer shall not directly or challenging the validity, registrability, indirectly contest ownership or enforceability validity of any Registered Intellectual Property included aspect of XYO, either during the term of this Agreement or at any time thereafter, nor shall it voluntarily assist in the Owned Intellectual Propertyany action taken by any third party, an object of which action is to contest said ownership or validity.
(d) Sellers represent 7.4. Customer shall adhere to any reasonable quality standards that they are, each as applicable, may be set by Perpetual from time to time and of which Customer has notice relating to the registrant use of record of each domain name as set forth in Schedule 4.09(d) (collectively, the “Domain Names”)XYO.
(e) Sellers have taken commercially reasonable measures to protect the confidentiality of all Trade Secrets included in the Owned Intellectual Property and no material Trade Secrets have been disclosed by Sellers to 7.5. Notwithstanding any Person except pursuant to written non-disclosure agreements or other obligations of confidentiality, and, to Sellers’ Knowledge, there has not been a breach of any such agreement or obligation by any such Person.
(f) To Seller’s Knowledge, Sellers have obtained from each Person (including current and former employees and independent contractors) who has created or developed for or on behalf of Sellers any Owned Intellectual Property that is material to the Business a written, present and, valid assignment of such Intellectual Property to a Seller.
(g) To Sellers’ Knowledge, in the past three (3) years, there has been no material unauthorized access to or material unauthorized use of any confidential or proprietary information or data that is both in Sellers’ possession or control and material to the Business.
(h) With respect to any material Software included within the Transferred Intellectual Property, to Sellers’ Knowledge (i) such Software is free from any material bugs, viruses or other malicious code, (ii) the Source Code for such Software has not been disclosed to any Third Party, and (iii) such Software does not contain, derive from or link to any open source Software in a manner that requires the disclosure of any proprietary Source Code, limits the ability to charge fees, or grants any license to any Third Party to make derivative works.
(i) Neither the execution, delivery or performance provision of this Agreement, nor Customer shall be solely responsible for the consummation observance of any and all standards of quality, safety and effectiveness that may be set by law from time to time by any government or government agency relating to the manufacture of embodiments incorporating XYO, including but not limited to regulations relating to the designation and markings of trademarks and patents on the Products.
7.6. If either Customer or Perpetual shall have knowledge that XYO is being infringed, such knowledge shall be promptly conveyed to the other Party. Perpetual may, but shall not be obliged to, enter suit to prevent infringement or further infringement and to prosecute the suit. Customer agrees to provide such reasonable assistance as may be required by Perpetual for the purpose of such suit and may, at its own expense, be represented by counsel of its own choosing. Subject to the terms of an order of a court of competent jurisdiction, the costs of the transactions contemplated suit (other than the costs of Customer's own counsel) shall be borne by Perpetual and Perpetual shall be solely entitled to the Ancillary Agreements will recovery of any damages or settlement monies. In the event that Perpetual refuses to prosecute the suit or to continue the prosecution of the suit to judgment or settlement, then Customer may, upon the giving of notice to Perpetual, bear the costs of prosecuting or continuing the suit, as the case may be, and shall be entitled to retain all damages or settlement monies recovered as a result of the suit.
7.7. Notice of the license granted herein may be filed in the material loss or impairment any Patent Office by either Party hereto, in respect of any of the Owned Intellectual PropertyXYO Patents. Said Notice shall have the form required by the laws of the jurisdiction in which it is being filed, and shall be executed by the Parties upon the request of either Party.
(j) All third-7.8. Customer agrees that it shall not disclose to any third party code any Confidential Information of Perpetual except as is necessary for Customer to exercise any right under this Agreement or with the written consent of Perpetual. In the event of such permitted disclosure, Customer shall make said disclosure conditional on the recipient's acceptance of the terms of a confidentiality agreement, the terms of which to be acceptable to Perpetual, not to disclose any Confidential Information of Perpetual to any other party.
7.9. Customer agrees not to use XYO, as defined herein, in conjunction with any automatic balancing device or technology, for any purpose outside the term and terms of this Agreement. For greater certainty, this restriction applies to all devices identical to, similar to, or in competition with any aspect of XYO, without regard to ownership or patentability of such devices or technology.
7.10. If Customer desires to carry out any action, whether written or oral, relating to or referring to XYO or any material marked confidential by Perpetual then Customer agrees to seek Perpetual’s approval and to promptly make full disclosure in writing to Perpetual providing full details of such desired action before such action is to be carried out. In particular, but without limiting the generality of the foregoing, Customer shall not make any patent applications relating to or referring to XYO or any material marked confidential by Perpetual without the specific written consent of Perpetual, which consent shall be granted at the sole discretion of Perpetual.
7.11. Customer agrees that is incorporated into Perpetual may be irreparably injured by a breach of this Agreement by Customer, which breach may not be adequately compensated for by damages, and Perpetual shall be entitled to equitable relief, including injunctive relief and specific performance, without the proprietary Software included need to prove irreparable harm and without the necessity of posting a bond in the Transferred Intellectual Property and that is critical to the operation event of such Software is commercially available (each a “Critical IP License” and collectively “Critical IP Licenses”), and following Closing, Buyer will be able to procure a license for all such third-party code for (i) an aggregate amount during the one-year period immediately following the Closing that shall not exceed the amount reflected for such third-party code in the Unaudited Financial Statements by more than $200,000, and (ii) an aggregate amount during the twelve (12) months period following the initial one-year period immediately following Closing that shall not exceed the amount reflected for such third-party code in the Unaudited Financial Statements by more than $200,000; provided that breach of any increases in license fees resulting from a volume increase, additional licenses or other change in the operation provisions of Business post Closing this Agreement. Such remedies shall not be breaches deemed to be exclusive remedies for breach of this representationAgreement, but shall be in addition to all other remedies available at law.
(k) Buyer 7.12. In the event of breach of this Agreement by Customer, Customer agrees to pay Perpetual’s actual costs and Sellers agree that expenses in enforcing the representations terms of this Agreement including, without limitation, any court costs, fees between a solicitor and warranties included the solicitor’s own client, and all disbursements. In the event of breach of section 7.9 of this Agreement by Customer, Customer agrees to immediately assign to Perpetual Customer’s rights, interest, and benefits derived from Customer’s actions as defined in section 7.9. This assignment shall not be deemed to be an exclusive remedy for the said breach of this Section 4.09 Agreement, but shall be in addition to all other remedies available at law.
7.13. If, during the sole term of this Agreement, Customer develops or invents any improvements to XYO, it shall promptly make full disclosure in writing to Perpetual and exclusive representations assign its rights in said improvements to Perpetual. In return for the assignment of rights to Perpetual, Perpetual agrees to grant a royalty-free license to Customer for the use of said improvements, to manufacture and warranties use in the Products.
7.14. Customer recognizes that in order to take full advantage of Sellers the benefits afforded by the use of XYO, some modification to its existing or future products may be required and/or necessary. Failure to correctly implement such modifications may have an adverse effect on the functioning of XYO and dramatically affect the performance of XYO.
7.15. Customer agrees to provide its best efforts in cooperating with respect Perpetual to Intellectual Property matters incorporate XYO into the Products. Specifically, Customer agrees to provide Perpetual with all information, access to personnel, and components required by Perpetual in a timely manner, as well as including Perpetual in design, manufacturing, and planning discussions. Customer understands that Perpetual is primarily a licensor and not primarily a manufacturer of products, and therefore, it is essential that Customer cooperate with Perpetual by providing the said information, access, components, and discussions in order for XYO to be successfully optimized and implemented into Customer’s Products under the terms of this Agreement.
7.16. The parties mutually agree that all promises, conduct, and statements made in the course of reaching this Agreement, including the fact of Agreement, are confidential and will not be disclosed voluntarily to the extent permitted by law, and without the specific written consent of both parties. Without limiting the generality of the foregoing, the specific information contained within section 6.1 of this Agreement shall be kept confidential.
7.17. The Parties acknowledge and agree that they have entered into a Nondisclosure and Noncircumvention Agreement (the “NDA”) that governs the disclosure of Confidential Information as defined in the NDA, which definition is enlarged by this Agreement, and that this Agreement supersedes without nullifying the NDA.
Appears in 3 contracts
Samples: Licensing Agreement, Licensing Agreement (Perpetual Industries Inc.), Licensing Agreement (Perpetual Industries Inc.)
Intellectual Property. (ai) Schedule 4.09(aSCHEDULE 4.1(N)(I) sets forth a true and complete list of (A) all (i) Registered Intellectual Property Patents, Trademarks, Copyrights and Software included in the Owned Intellectual Property, indicating for each item the registration or application number, the registration or application date(B) all MailKey IP Agreements, and (C) all other Owned Intellectual Property material to the applicable filing jurisdiction and business of MailKey or the Subsidiaries.
(ii) The operation of MailKey and the Subsidiaries as currently conducted or as contemplated to be conducted and the use of the Owned Intellectual Property that is and Licensed Intellectual Property in connection therewith do not registered but that is material conflict with, infringe, misappropriate or otherwise violate the intellectual property or other proprietary rights, including rights of privacy, publicity and endorsement, of any third party, and no actions, suits, proceedings, investigations or claims are pending or, to the operation Knowledge of MailKey, threatened against MailKey alleging any of the Business. Sellers exclusively own all, foregoing.
(iii) MailKey is the exclusive owner of the entire and unencumbered right, title and interest in all and to the Owned Intellectual PropertyProperty and the MailKey IP Agreements, free and clear MailKey and the Subsidiaries have a valid right to use the Owned Intellectual Property and Licensed Intellectual Property in the ordinary course of all Encumbrances its business as presently conducted or as contemplated to be conducted.
(other than Permitted Encumbrances). Sellers are not bound by any outstanding judgment, injunction, order or decree or any contractual obligation materially restricting the use by a Seller of the iv) No Owned Intellectual Property, or materially to the Knowledge of MailKey, any Licensed Intellectual Property, is subject to any outstanding decree, order, injunction, judgment or ruling restricting the licensing thereof to any Person. With respect to the Registered use of such Intellectual Property included in or that would impair the validity or enforceability of such Intellectual Property.
(v) The Owned Intellectual Property listed on Schedule 4.09(a), (i) all such Registered and the Licensed Intellectual Property is subsisting include all of the Intellectual Property used in the ordinary day-to-day conduct of the business of MailKey and its Subsidiaries, and there are no other items of Intellectual Property that are material to the ordinary day-to-day conduct of such business. The Owned Intellectual Property and, to Sellers’ Knowledgethe Knowledge of MailKey, the Licensed Intellectual Property, are subsisting, valid and enforceable, (ii) a Seller is the owner of record, and (iii) all maintenance fees and filings that are required to be made to maintain such Registered Intellectual Property have not been timely made (taking into account any applicable grace periods)adjudged invalid or unenforceable in whole or part.
(bvi) Schedule 4.09(b) sets forth, No actions or at the Closing will set forth, a true and complete list of all Intellectual Property Licenses. Except as set forth on Schedule 4.09(b), Sellers claims have provided Buyer with true and complete copies of all such Intellectual Property Licenses. All such Intellectual Property Licenses arebeen asserted or are pending or, to Sellers’ Knowledgethe Knowledge of MailKey, valid, binding and enforceable between threatened against MailKey or any Subsidiary (A) based upon or challenging or seeking to deny or restrict the applicable Seller and the other parties thereto, and Seller and, to Sellers’ Knowledge, such other parties are in compliance with the material terms and conditions use by MailKey or any Subsidiary of such Intellectual Property Licenses.
(c) To Sellers’ Knowledge, the conduct of the Business as currently conducted does not infringe, misappropriate, dilute or otherwise violate, and in the past three (3) years has not infringed, misappropriated or otherwise violated, any Intellectual Property rights of any Third Party. Sellers have not received any notice that Sellers’ use of the Transferred Intellectual Property in the conduct of the Business as currently conducted infringes, misappropriates, dilutes or otherwise violates, or in the past three (3) years has infringed, misappropriated or otherwise violated, any Intellectual Property Rights of any Third Party. No Proceedings are pending and no written notices have been received by Sellers during the past three (3) years (or earlier, if presently not resolved), in each case, alleging any infringement, misappropriation or other violation by Sellers of the Intellectual Property rights of any Third Party. Except as set forth in Schedule 4.09(c), to Sellers’ Knowledge, during the past three (3) years (or earlier, if presently not resolved) no Person has infringed, misappropriated, diluted or otherwise violated any of the Owned Intellectual Property or Transferred Technology, and no Seller has made or asserted any claim, demand or notice against any person or entity alleging any such infringement, misappropriation, dilution or other violation. There is no Proceeding pending or, to Sellers’ Knowledge, threatened, challenging a Seller’s ownership of any Owned Licensed Intellectual Property, or its right to use (B) alleging that any Transferred Intellectual Propertyservices provided by, processes used by, or challenging the validity, registrability, products manufactured or enforceability sold by MailKey or any Subsidiary infringe or misappropriate any Intellectual Property right of any Registered third party or (C) alleging that the Licensed Intellectual Property included is being licensed or sublicensed in conflict with the Owned Intellectual Propertyterms of any license or other agreement.
(dvii) Sellers represent that they are, each as applicable, the registrant of record of each domain name Except as set forth in Schedule 4.09(d) (collectivelySCHEDULE 4.1(N)(VII), the “Domain Names”).
(e) Sellers have taken commercially reasonable measures MailKey has not granted any license or other right to protect the confidentiality of all Trade Secrets included in any third party with respect to the Owned Intellectual Property and no material Trade Secrets have been disclosed by Sellers to any Person except pursuant to written non-disclosure agreements or other obligations of confidentiality, and, to Sellers’ Knowledge, there has not been a breach of any such agreement or obligation by any such Person.
(f) To Seller’s Knowledge, Sellers have obtained from each Person (including current and former employees and independent contractors) who has created or developed for or on behalf of Sellers any Owned Intellectual Property that is material to the Business a written, present and, valid assignment of such Intellectual Property to a Seller.
(g) To Sellers’ Knowledge, in the past three (3) years, there has been no material unauthorized access to or material unauthorized use of any confidential or proprietary information or data that is both in Sellers’ possession or control and material to the Business.
(h) With respect to any material Software included within the Transferred Licensed Intellectual Property, to Sellers’ Knowledge (i) such Software is free from any material bugs, viruses or other malicious code, (ii) the Source Code for such Software has not been disclosed to any Third Party, and (iii) such Software does not contain, derive from or link to any open source Software in a manner that requires the disclosure of any proprietary Source Code, limits the ability to charge fees, or grants any license to any Third Party to make derivative works.
(i) Neither the execution, delivery or performance of this Agreement, nor the . The consummation of the transactions contemplated by the Ancillary Agreements this Agreement will not result in the material loss termination or impairment of any of the Owned Intellectual Property.
(j) All third-party code that is incorporated into the proprietary Software included in the Transferred Intellectual Property and that is critical to the operation of such Software is commercially available (each a “Critical IP License” and collectively “Critical IP Licenses”), and following Closing, Buyer will be able to procure a license for all such third-party code for (i) an aggregate amount during the one-year period immediately following the Closing that shall not exceed the amount reflected for such third-party code in the Unaudited Financial Statements by more than $200,000, and (ii) an aggregate amount during the twelve (12) months period following the initial one-year period immediately following Closing that shall not exceed the amount reflected for such third-party code in the Unaudited Financial Statements by more than $200,000; provided that any increases in license fees resulting from a volume increase, additional licenses or other change in the operation of Business post Closing shall not be breaches of this representation.
(k) Buyer and Sellers agree that the representations and warranties included in this Section 4.09 shall be the sole and exclusive representations and warranties of Sellers with respect to Intellectual Property matters in this Agreement.
Appears in 3 contracts
Samples: Merger Agreement (IElement CORP), Merger Agreement (IElement CORP), Merger Agreement (Global Diversified Acquisition Corp)
Intellectual Property. (a) Schedule 4.09(aAll granted and issued patents, copyright registrations, and registered trademarks and service marks and all copyrights held by Seller are valid, enforceable and subsisting. Seller has the exclusive right to file, prosecute and maintain all applications and registrations with respect to the Intellectual Property.
(b) sets forth a true and complete list None of all (i) Registered the Intellectual Property included is subject to any Lien in favor of any third party other than Liens resulting from the Owned Intellectual Property, indicating for each item the registration or application number, the registration or application date, FNF Secured Loans and the applicable filing jurisdiction Homemark Secured Loans (which Liens shall be released at or prior to Closing) and (ii) Owned Intellectual Property that is not registered but that is material to the operation of the Business. Sellers exclusively own all, Seller owns all right, title and interest in all Owned Intellectual Property, free therein and clear of all Encumbrances (other than Permitted Encumbrances). Sellers are not bound by any outstanding judgment, injunction, order or decree or any contractual obligation materially restricting the use by a Seller of the Owned Intellectual Property, or materially restricting the licensing thereof to any Person. With respect to the Registered Intellectual Property included in the Owned Intellectual Property listed on Schedule 4.09(a), (i) all such Registered Intellectual Property is subsisting thereto and, to Sellers’ KnowledgeSeller's knowledge, valid and enforceableno other Person has any right, (ii) a Seller is title or interest in or to any of the owner Intellectual Property. None of record, and (iii) all maintenance fees and filings that are required Seller's rights in or to any of the Intellectual Property shall be made adversely affected by its execution or delivery of this Agreement or by the performance of its obligations hereunder. No claims with respect to maintain such Registered any Intellectual Property have been timely made (taking into account asserted or, to Seller's knowledge, threatened by any applicable grace periods).
(b) Schedule 4.09(b) sets forth, or at Person against Seller. No use of any of the Closing will set forth, a true and complete list of all Intellectual Property Licenses. Except as set forth on Schedule 4.09(b)by any Person (including Seller) constitutes or has constituted an unauthorized use, Sellers have provided Buyer with true and complete copies of all such Intellectual Property Licenses. All such Intellectual Property Licenses are, to Sellers’ Knowledge, valid, binding and enforceable between the applicable Seller and the other parties thereto, and Seller and, to Sellers’ Knowledge, such other parties are in compliance with the material terms and conditions of such Intellectual Property Licenses.
(c) To Sellers’ Knowledge, the conduct of the Business as currently conducted does not infringe, misappropriate, dilute or otherwise violate, and in the past three (3) years has not infringed, misappropriated or otherwise violated, any Intellectual Property rights of any Third Party. Sellers have not received any notice that Sellers’ use of the Transferred Intellectual Property in the conduct of the Business as currently conducted infringes, misappropriates, dilutes or otherwise violates, or in the past three (3) years has infringed, misappropriated or otherwise violated, any Intellectual Property Rights of any Third Party. No Proceedings are pending and no written notices have been received by Sellers during the past three (3) years (or earlier, if presently not resolved), in each case, alleging any infringement, misappropriation or other violation by Sellers of the Intellectual Property rights of any Third Partyother Person and no valid grounds exist for any claims against Seller or any such Person with respect to any Intellectual Property. Except as set forth in Schedule 4.09(c)Without limiting the generality of the foregoing, no Person ever employed or otherwise engaged by Seller has asserted or, to Sellers’ KnowledgeSeller's knowledge, during the past three (3) years (threatened any claim against Seller relating to any Intellectual Property. To Seller's knowledge, there has not been, nor is there presently, any unauthorized use, infringement, misappropriation or earlier, if presently not resolved) no Person has infringed, misappropriated, diluted or otherwise violated violation of any of the Owned Intellectual Property or Transferred Technology, and no by any Person. Seller has made the full and exclusive right to possess, use, copy, distribute, display, transfer and license all of the Intellectual Property.
(c) No Intellectual Property is subject to any outstanding order, award, decision, injunction, judgment, decree, stipulation or asserted agreement in any claimmanner restricting the transfer, demand use, enforcement or notice licensing thereof by Seller. Seller has not entered into any agreement to indemnify any other Person against any person or entity alleging any such infringement, misappropriation, dilution or other violation. There is no Proceeding pending or, to Sellers’ Knowledge, threatened, challenging a Seller’s ownership charge of infringement of any Owned Intellectual Property. Seller has not entered into any agreement granting any third party the right to bring infringement actions with respect to, or its right otherwise to use enforce rights with respect to, any Transferred Intellectual Property, or challenging of the validity, registrability, or enforceability of any Registered Intellectual Property included in the Owned Intellectual Property.
(d) Sellers represent that they areSeller has paid all material fees, each as applicable, annuities and all other payments which have heretofore become due to any Governmental Authority with respect to the registrant of record of each domain name as set forth in Schedule 4.09(d) (collectively, Intellectual Property and has taken all steps reasonable and necessary to prosecute and maintain the “Domain Names”)same.
(e) Sellers have taken commercially reasonable measures to protect the confidentiality of all Trade Secrets included Seller has not transferred its title in the Owned Intellectual Property and no material Trade Secrets have been disclosed by Sellers or to any Person except pursuant to written non-disclosure agreements or other obligations of confidentiality, and, to Sellers’ Knowledge, there Intellectual Property. Seller has not been a breach of permitted any such agreement or obligation by Person to utilize any such PersonIntellectual Property.
(f) To Seller’s Knowledge, Sellers have obtained from each Person (including current and former employees and independent contractors) who has created or developed for or on behalf 's use of Sellers any Owned the Intellectual Property that is material pursuant to valid and binding licenses and the Business a written, present and, valid assignment of such Intellectual Property to a Seller.
(g) To Sellers’ Knowledge, in the past three (3) years, there has been no material unauthorized access to or material unauthorized use of any confidential or proprietary information or data that is both in Sellers’ possession or control execution and material to the Business.
(h) With respect to any material Software included within the Transferred Intellectual Property, to Sellers’ Knowledge (i) such Software is free from any material bugs, viruses or other malicious code, (ii) the Source Code for such Software has not been disclosed to any Third Party, and (iii) such Software does not contain, derive from or link to any open source Software in a manner that requires the disclosure of any proprietary Source Code, limits the ability to charge fees, or grants any license to any Third Party to make derivative works.
(i) Neither the execution, delivery or performance by Seller of this Agreement, nor Agreement and the consummation of the transactions contemplated by hereby shall not alter or impair any such licenses. No Consent shall be required in connection with the Ancillary Agreements will result in the material loss or impairment of any of the Owned Intellectual Property.
(j) All third-party code that is incorporated into the proprietary Software included in the Transferred Intellectual Property and that is critical to the operation transfer of such Software is commercially available (each a “Critical IP License” and collectively “Critical IP Licenses”), and following Closing, licenses to Buyer will be able pursuant to procure a license for all such third-party code for (i) an aggregate amount during the one-year period immediately following the Closing that shall not exceed the amount reflected for such third-party code in the Unaudited Financial Statements by more than $200,000, and (ii) an aggregate amount during the twelve (12) months period following the initial one-year period immediately following Closing that shall not exceed the amount reflected for such third-party code in the Unaudited Financial Statements by more than $200,000; provided that any increases in license fees resulting from a volume increase, additional licenses or other change in the operation of Business post Closing shall not be breaches of this representation.
(k) Buyer and Sellers agree that the representations and warranties included in this Section 4.09 shall be the sole and exclusive representations and warranties of Sellers with respect to Intellectual Property matters in this Agreement.
Appears in 3 contracts
Samples: Asset Purchase Agreement (Homeseekers Com Inc), Asset Purchase Agreement (Fidelity National Information Solutions Inc), Asset Purchase Agreement (Fidelity National Financial Inc /De/)
Intellectual Property. To the knowledge and belief of Debtor, all Marks listed on Exhibit B for Debtor and all licenses held by such Debtor related to such Marks constitute all such rights that are required or reasonably necessary for the conduct of the business of Debtor as currently conducted. All such Marks (aand all applications and registrations therefor) Schedule 4.09(a) sets forth a true are currently in compliance in all material respects with all legal requirements (including, without limitation, timely filings, proofs and complete list payments of all (i) Registered Intellectual Property included in the Owned Intellectual Property, indicating for each item the registration or application number, the registration or application datefees), and are valid and enforceable, and are not subject to any filings, fees or other actions falling due within ninety (90) days after the applicable filing jurisdiction date hereof. Debtor owns or otherwise possesses adequate licenses or other valid rights to use, sell and (ii) Owned Intellectual Property that is not registered but that is material to the operation of the Business. Sellers exclusively own all, right, title and interest in all Owned Intellectual Propertylicense, free and clear of any and all Encumbrances adverse claims (other than Permitted Encumbrances). Sellers are not bound including by any outstanding judgment, injunction, order or decree or any contractual obligation materially restricting the use by a Seller of the Owned Intellectual Property, or materially restricting the licensing thereof to any Person. With respect to the Registered Intellectual Property included in the Owned Intellectual Property listed on Schedule 4.09(acurrent and former employees and contractors), (i) all such Registered Intellectual Property is subsisting andliens, restrictions or other obligation to Sellers’ Knowledgepay royalties, valid honoraria or other fees, any and enforceable, (ii) a Seller is the owner of record, and (iii) all maintenance fees and filings that are required to be made to maintain such Registered Intellectual Property have been timely made (taking into account any applicable grace periods).
(b) Schedule 4.09(b) sets forth, or at the Closing will set forth, a true and complete list of all Intellectual Property Licenses. Except as set forth on Schedule 4.09(b), Sellers have provided Buyer with true and complete copies of all such Intellectual Property Licenses. All such Intellectual Property Licenses are, to Sellers’ Knowledge, valid, binding and enforceable between (including without limitation the applicable Seller and the other parties thereto, and Seller and, to Sellers’ Knowledge, such other parties are Marks) used in compliance with the material terms and conditions of such Intellectual Property Licenses.
(c) To Sellers’ Knowledge, the conduct of the Business business of Debtor as currently conducted does not infringe, misappropriate, dilute or otherwise violate, and in proposed to be conducted. No Marks have been within the past preceding three (3) years or are now the subject of any claims or litigation and, to the knowledge of Debtor, no claims or litigation have been alleged or threatened. Debtor has taken all reasonable steps to maintain, police and protect the Marks owned or used in the operation of Debtor’s business. The conduct of Debtor’s business as currently conducted or planned to be conducted does not infringed, misappropriated infringe or otherwise violated, impair or conflict with any Intellectual Property or other proprietary or personal rights of any Third Partythird party, and, to the knowledge of Debtor, the Intellectual Property owned or licensed by Debtor is not being infringed by any third party. Sellers have not received There is no litigation or order pending or outstanding, or to the knowledge of Debtor, threatened, that seeks to limit or challenge or that concerns the ownership, use, validity or enforceability of any notice that Sellers’ use Marks or any Intellectual Property of Debtor. The consummation of the Transferred transactions contemplated hereby will not result in the alteration, loss or impairment of the validity, enforceability or Debtor’s right to own or use any of the Intellectual Property used in the conduct of the Business business of Debtor as currently conducted infringesor proposed to be conducted. Debtor has made available to Secured Party a list of all software (other than generally commercially available, misappropriatesnon-custom, dilutes off-the-shelf software application programs having a retail acquisition price of less than $5,000) that is owned or used by Debtor, and identified which software is owned, otherwise used and/or licensed or otherwise violates, or in the past three (3) years has infringed, misappropriated or otherwise violated, any Intellectual Property Rights of any Third Party. No Proceedings are pending and no written notices have been received distributed by Sellers during the past three (3) years (or earlier, if presently not resolved), in each case, alleging any infringement, misappropriation or other violation by Sellers of the Intellectual Property rights of any Third Party. Except as set forth in Schedule 4.09(c), to Sellers’ Knowledge, during the past three (3) years (or earlier, if presently not resolved) no Person has infringed, misappropriated, diluted or otherwise violated any of the Owned Intellectual Property or Transferred Technology, and no Seller has made or asserted any claim, demand or notice against any person or entity alleging any such infringement, misappropriation, dilution or other violation. There is no Proceeding pending or, to Sellers’ Knowledge, threatened, challenging a Seller’s ownership of any Owned Intellectual Property, or its right to use any Transferred Intellectual Property, or challenging the validity, registrability, or enforceability of any Registered Intellectual Property included in the Owned Intellectual Property.
(d) Sellers represent that they are, each as applicable, the registrant of record of each domain name as set forth in Schedule 4.09(d) (collectively, the “Domain Names”).
(e) Sellers have taken commercially reasonable measures to protect the confidentiality of all Trade Secrets included in the Owned Intellectual Property and no material Trade Secrets have been disclosed by Sellers Debtor to any Person except pursuant to written non-disclosure agreements or other obligations of confidentialitythird party, and, to Sellers’ Knowledge, there has not been a breach of any such agreement or obligation by any such Personas the case may be.
(f) To Seller’s Knowledge, Sellers have obtained from each Person (including current and former employees and independent contractors) who has created or developed for or on behalf of Sellers any Owned Intellectual Property that is material to the Business a written, present and, valid assignment of such Intellectual Property to a Seller.
(g) To Sellers’ Knowledge, in the past three (3) years, there has been no material unauthorized access to or material unauthorized use of any confidential or proprietary information or data that is both in Sellers’ possession or control and material to the Business.
(h) With respect to any material Software included within the Transferred Intellectual Property, to Sellers’ Knowledge (i) such Software is free from any material bugs, viruses or other malicious code, (ii) the Source Code for such Software has not been disclosed to any Third Party, and (iii) such Software does not contain, derive from or link to any open source Software in a manner that requires the disclosure of any proprietary Source Code, limits the ability to charge fees, or grants any license to any Third Party to make derivative works.
(i) Neither the execution, delivery or performance of this Agreement, nor the consummation of the transactions contemplated by the Ancillary Agreements will result in the material loss or impairment of any of the Owned Intellectual Property.
(j) All third-party code that is incorporated into the proprietary Software included in the Transferred Intellectual Property and that is critical to the operation of such Software is commercially available (each a “Critical IP License” and collectively “Critical IP Licenses”), and following Closing, Buyer will be able to procure a license for all such third-party code for (i) an aggregate amount during the one-year period immediately following the Closing that shall not exceed the amount reflected for such third-party code in the Unaudited Financial Statements by more than $200,000, and (ii) an aggregate amount during the twelve (12) months period following the initial one-year period immediately following Closing that shall not exceed the amount reflected for such third-party code in the Unaudited Financial Statements by more than $200,000; provided that any increases in license fees resulting from a volume increase, additional licenses or other change in the operation of Business post Closing shall not be breaches of this representation.
(k) Buyer and Sellers agree that the representations and warranties included in this Section 4.09 shall be the sole and exclusive representations and warranties of Sellers with respect to Intellectual Property matters in this Agreement.
Appears in 3 contracts
Samples: Pledge and Security Agreement (Innovative Food Holdings Inc), Pledge and Security Agreement (Innovative Food Holdings Inc), Pledge and Security Agreement (Innovative Food Holdings Inc)
Intellectual Property. (a) Schedule 4.09(a) Section 5.21 of the STFC Disclosure Letter sets forth a true and complete list of all (i) Registered Intellectual Property included patents and pending patent applications, trademark registrations and pending trademark applications, copyright registrations and domain name registrations, in each case which are owned by STFC or a Subsidiary of STFC as of the Owned Intellectual Propertydate hereof. STFC or a Subsidiary of STFC owns, indicating for each item or is licensed or otherwise has the registration or application numberright to use, the registration or application date, and the applicable filing jurisdiction and (ii) Owned all Intellectual Property that is not registered but that is used in and material to the operation conduct of the Business. Sellers exclusively own all, right, title business of STFC and interest in all Owned Intellectual Property, free and clear of all Encumbrances (other than Permitted Encumbrances). Sellers are not bound by any outstanding judgment, injunction, order or decree or any contractual obligation materially restricting the use by a Seller of the Owned Intellectual Property, or materially restricting the licensing thereof to any Person. With respect to the Registered Intellectual Property included in the Owned Intellectual Property listed on Schedule 4.09(a), (i) all such Registered Intellectual Property is subsisting and, to Sellers’ Knowledge, valid and enforceable, (ii) a Seller is the owner of record, and (iii) all maintenance fees and filings that are required to be made to maintain such Registered Intellectual Property have been timely made (taking into account any applicable grace periods)its Subsidiaries as presently conducted.
(b) Schedule 4.09(b) sets forthTo the Knowledge of STFC, the conduct of the business of STFC and its Subsidiaries does not and, since December 31, 2018, did not infringe, misappropriate or at the Closing will set forth, a true and complete list of all otherwise violate any Intellectual Property Licenses. Except rights of any Person, and, as set forth on Schedule 4.09(b)of the date hereof, Sellers have provided Buyer with true and complete copies there is no Action pending or, to the Knowledge of all such STFC, threatened in writing that STFC or any of its Subsidiaries is infringing, misappropriating or otherwise violating the Intellectual Property Licensesrights of any Person. All such To the Knowledge of STFC, no Person is infringing any Intellectual Property Licenses are, to Sellers’ Knowledge, valid, binding and enforceable between the applicable Seller and the other parties thereto, and Seller and, to Sellers’ Knowledge, such other parties are in compliance with the material terms and conditions rights owned by STFC or a Subsidiary of such Intellectual Property LicensesSTFC.
(c) To Sellers’ Knowledgethe Knowledge of STFC, none of the Software owned by STFC or any of its Subsidiaries that is used in and material to the conduct of the Business business of STFC and its Subsidiaries as currently presently conducted does not infringeincludes any “open source” or “copyleft” software that would require, misappropriatebased on the use of such software as used prior to the date hereof, dilute any material components of such software to be licensed, disclosed or otherwise violatedistributed to any non-Affiliated Person under any terms, including making the source code publicly available.
(d) At all times since December 31, 2018, STFC and its Subsidiaries have taken reasonable steps, including implementing administrative, technical, and physical security measures, to protect Personal Data and confidential information in the past three (3) years has not infringedtheir possession or control against damage, misappropriated loss, and against unauthorized access, acquisition, use, modification, disclosure or otherwise violatedother misuse, including any Intellectual Property rights of any Third Party. Sellers have not received any notice that Sellers’ use of the Transferred Intellectual Property in the conduct of the Business as currently conducted infringesforegoing required by any applicable Privacy and Data Security Laws, misappropriates, dilutes or otherwise violates, or in the past three (3) years has infringed, misappropriated or otherwise violated, any Intellectual Property Rights of any Third Party. No Proceedings are pending Privacy Agreements and no written notices have been received by Sellers during the past three (3) years (or earlier, if presently not resolved), in each case, alleging any infringement, misappropriation or other violation by Sellers of the Intellectual Property rights of any Third Partyits Privacy and Data Security Policies. Except as set forth in Schedule 4.09(c)Section 5.21(d) of the STFC Disclosure Letter, to Sellers’ Knowledgesince December 31, during 2018, there has been no unauthorized access, use, or disclosure of Personal Data or confidential information in the past three (3) years (possession or earliercontrol of STFC, if presently not resolved) no Person has infringed, misappropriated, diluted or otherwise violated its Subsidiaries and any of the Owned Intellectual Property their contractors with regard to any Personal Data and confidential information obtained from or Transferred Technology, and no Seller has made or asserted any claim, demand or notice against any person or entity alleging any such infringement, misappropriation, dilution or other violation. There is no Proceeding pending or, to Sellers’ Knowledge, threatened, challenging a Seller’s ownership on behalf of any Owned Intellectual Property, STFC or its right to use any Transferred Intellectual Property, or challenging the validity, registrability, or enforceability of any Registered Intellectual Property included in the Owned Intellectual Property.
(d) Sellers represent that they are, each as applicable, the registrant of record of each domain name as set forth in Schedule 4.09(d) (collectively, the “Domain Names”)Subsidiaries.
(e) Sellers have taken commercially reasonable measures to protect the confidentiality of STFC and its Subsidiaries have, and since December 31, 2018 had, fully implemented written Privacy and Data Security Policies. STFC and its Subsidiaries are, and at all Trade Secrets included in the Owned Intellectual Property and no material Trade Secrets times since December 31, 2018 have been disclosed by Sellers to any Person except pursuant to written non-disclosure agreements or other obligations of confidentiality, and, to Sellers’ Knowledge, there has not been a breach of any such agreement or obligation by any such Person.
(f) To Seller’s Knowledge, Sellers have obtained from each Person (including current and former employees and independent contractors) who has created or developed for or on behalf of Sellers any Owned Intellectual Property that is in compliance in all material to the Business a written, present and, valid assignment of such Intellectual Property to a Seller.
(g) To Sellers’ Knowledge, in the past three (3) years, there has been no material unauthorized access to or material unauthorized use of any confidential or proprietary information or data that is both in Sellers’ possession or control and material to the Business.
(h) With respect to any material Software included within the Transferred Intellectual Property, to Sellers’ Knowledge respects with (i) such Software is free from any material bugs, viruses or other malicious codeall Privacy and Data Security Laws, (ii) the Source Code for such Software has not been disclosed to any Third Party, all Privacy Agreements and (iii) such Software does not contain, derive from or link to any open source Software in a manner that requires the disclosure of any proprietary Source Code, limits the ability to charge fees, or grants any license to any Third Party to make derivative works.
(i) their Privacy and Data Security Policies. Neither the execution, delivery delivery, or performance of this Agreement, nor the consummation of any of the transactions contemplated under this Agreement, nor LMHC’s or its Subsidiaries’ possession or Processing of Personal Data consistent with STFC and its Subsidiaries’ current operations will violate any of the Privacy Agreements, its Privacy and Data Security Policies, or any applicable Privacy and Data Security Laws.
(f) There is no pending, nor since December 31, 2018 has there ever been any, complaint, audit, proceeding, investigation, or claim against STFC or its Subsidiaries initiated by the Ancillary Agreements will result any Person or any Governmental Authority alleging that any Processing of Personal Data by STFC or its Subsidiaries (i) is in the material loss or impairment violation of any applicable Privacy and Data Security Laws, (ii) is in violation of any Privacy Agreements, (iii) is in violation of any of the Owned Intellectual Propertytheir Privacy and Data Security Policies or (iv) otherwise constitutes an unfair, deceptive, misleading, or abusive trade practice.
(jg) All third-party code that is incorporated into the proprietary Software included STFC and its Subsidiaries have in the Transferred Intellectual Property and that is critical place commercially reasonable procedures to the operation of such Software is commercially available (each a “Critical IP License” and collectively “Critical IP Licenses”)contractually require all third parties, including vendors, Affiliates, and following Closingother Persons providing services to STFC or its Subsidiaries that have access to or receive Personal Data from or on behalf of STFC or its Subsidiaries to comply with all applicable Privacy and Data Security Laws, Buyer will be able to procure have a license for all such third-party code for (i) an aggregate amount during the one-year period immediately following the Closing that shall not exceed the amount reflected for such third-party code in the Unaudited Financial Statements by more than $200,000written contract requiring compliance with applicable Privacy and Data Security Laws, and (ii) an aggregate amount during the twelve (12) months period following the initial one-year period immediately following Closing to take reasonable steps to ensure that shall not exceed the amount reflected for all Personal Data and confidential information in such third-party code in the Unaudited Financial Statements by more than $200,000; provided that any increases in license fees resulting from a volume increasethird parties’ possession or control is protected against damage, additional licenses loss, and against unauthorized access, acquisition, use, modification, disclosure or other change in the operation of Business post Closing shall not be breaches of this representationmisuse.
(k) Buyer and Sellers agree that the representations and warranties included in this Section 4.09 shall be the sole and exclusive representations and warranties of Sellers with respect to Intellectual Property matters in this Agreement.
Appears in 3 contracts
Samples: Merger Agreement (State Auto Financial CORP), Merger Agreement, Merger Agreement
Intellectual Property. (a) Section 9.15 of the Disclosure Schedule 4.09(a) sets forth contains a true and complete list of all (i) Registered Intellectual Property included patents, trademarks, trade names, service marks, copyrights and licenses thereof relating to the Business and all pending applications and applications to be filed therefor used in the Owned Intellectual Property, indicating for each item the registration or application number, the registration or application date, and the applicable filing jurisdiction and (ii) Owned Intellectual Property that is not registered but that is material to the operation of the Business, specifying whether such intellectual property rights are owned, controlled, used or held (under license or otherwise) by either or both of the Sellers, and also indicating which of such intellectual property rights are registered. Except as set forth in Section 9.15 of the Disclosure Schedule, all intellectual property shown as registered in Section 9.15 of the Disclosure Schedule has been properly registered, all pending registrations and applications have been properly made and filed and all annuity, maintenance, renewal and other fees relating to registrations or applications are current. Except as set forth in Section 9.15 of the Disclosure Schedule, (a) the Sellers exclusively and/or the Subsidiaries own allor otherwise have the right to use all intellectual property rights which are material to the conduct of the Business, rightas it is currently being conducted and (b) to the Sellers’ knowledge, title and interest neither the Sellers nor any Subsidiary is infringing any intellectual property rights of any third party in all Owned the operation of the Business, nor is any other person infringing the Intellectual Property, free and clear of all Encumbrances (other than Permitted Encumbrances). Sellers are not bound by any outstanding judgment, injunction, order or decree or any contractual obligation materially restricting the use by a Seller Except as set forth in Section 9.15 of the Owned Intellectual PropertyDisclosure Schedule, (x) neither of the Sellers nor any Subsidiary has granted any license or materially restricting made any assignment of any of the licensing thereof to any Person. With respect to the Registered Intellectual Property included in the Owned Intellectual Property intellectual property rights listed on Schedule 4.09(a), (i) all such Registered Intellectual Property is subsisting and, to Sellers’ Knowledge, valid and enforceable, (ii) a Seller is Section 9.15 of the owner of recordDisclosure Schedule, and (iiiy) all maintenance fees and filings that are required to be made the knowledge of the Sellers, no other person has any right to maintain use any of such Registered Intellectual Property have been timely made (taking into account any applicable grace periods).
(b) Schedule 4.09(b) sets forth, or at the Closing will set forth, a true and complete list of all Intellectual Property Licensesintellectual property rights. Except as set forth on Schedule 4.09(b)Section 9.15 of the Disclosure Schedule, neither of the Sellers have provided Buyer with true and complete copies nor any Subsidiary pays any royalties or other consideration in excess of all such Intellectual Property Licenses. All such Intellectual Property Licenses are, $100,000 per year for the right to Sellers’ Knowledge, valid, binding and enforceable between the applicable Seller and the other parties thereto, and Seller and, to Sellers’ Knowledge, such other parties are use any intellectual property rights of others in compliance connection with the material terms and conditions of such Intellectual Property Licenses.
Business (c) To Sellers’ Knowledge, the conduct of the Business as currently conducted does not infringe, misappropriate, dilute or otherwise violate, and in the past three (3) years has not infringed, misappropriated or otherwise violated, any Intellectual Property rights of any Third Party. Sellers have not received any notice that Sellers’ use of the Transferred Intellectual Property in the conduct of the Business as currently conducted infringes, misappropriates, dilutes or otherwise violates, or in the past three (3) years has infringed, misappropriated or otherwise violated, any Intellectual Property Rights of any Third Party. No Proceedings are pending and no written notices have been received by Sellers during the past three (3) years (or earlier, if presently not resolvedother than “shrink wrap” software), in each case, alleging any infringement, misappropriation or other violation by Sellers of the Intellectual Property rights of any Third Party. Except as set forth in Schedule 4.09(c), to Sellers’ Knowledge, during the past three (3) years (or earlier, if presently not resolved) no Person has infringed, misappropriated, diluted or otherwise violated any Section 9.15 of the Owned Intellectual Property or Transferred TechnologyDisclosure Schedule, and no Seller has made or asserted any claim, demand or notice against any person or entity alleging any such infringement, misappropriation, dilution or other violation. There there is no Proceeding litigation pending or, to the knowledge of the Sellers, threatened to challenge the Sellers’ Knowledgeor the Subsidiaries’ right, threatened, challenging a Seller’s ownership of any Owned Intellectual Property, or title and interest with respect to its continued use and right to use any Transferred Intellectual Property, or challenging the validity, registrability, or enforceability of any Registered Intellectual Property included in the Owned Intellectual Property.
(d) Sellers represent that they are, each as applicable, the registrant of record of each domain name as set forth in Schedule 4.09(d) (collectively, the “Domain Names”).
(e) Sellers have taken commercially reasonable measures to protect the confidentiality of all Trade Secrets included in the Owned Intellectual Property and no material Trade Secrets have been disclosed by Sellers to any Person except pursuant to written non-disclosure agreements or other obligations of confidentiality, and, to Sellers’ Knowledge, there has not been a breach of any such agreement or obligation by any such Person.
(f) To Seller’s Knowledge, Sellers have obtained preclude others from each Person (including current and former employees and independent contractors) who has created or developed for or on behalf of Sellers any Owned Intellectual Property that is material to the Business a written, present and, valid assignment of such Intellectual Property to a Seller.
(g) To Sellers’ Knowledge, in the past three (3) years, there has been no material unauthorized access to or material unauthorized use of any confidential or proprietary information or data that is both in Sellers’ possession or control and material to the Business.
(h) With respect to any material Software included within the Transferred Intellectual Property, to Sellers’ Knowledge (i) such Software is free from any material bugs, viruses or other malicious code, (ii) the Source Code for such Software has not been disclosed to any Third Party, and (iii) such Software does not contain, derive from or link to any open source Software in a manner that requires the disclosure of any proprietary Source Code, limits the ability to charge fees, or grants any license to any Third Party to make derivative works.
(i) Neither the execution, delivery or performance of this Agreement, nor the consummation of the transactions contemplated by the Ancillary Agreements will result in the material loss or impairment of using any of the Owned Intellectual Propertyintellectual property rights identified in Section 9.15 of the Disclosure Schedule.
(j) All third-party code that is incorporated into the proprietary Software included in the Transferred Intellectual Property and that is critical to the operation of such Software is commercially available (each a “Critical IP License” and collectively “Critical IP Licenses”), and following Closing, Buyer will be able to procure a license for all such third-party code for (i) an aggregate amount during the one-year period immediately following the Closing that shall not exceed the amount reflected for such third-party code in the Unaudited Financial Statements by more than $200,000, and (ii) an aggregate amount during the twelve (12) months period following the initial one-year period immediately following Closing that shall not exceed the amount reflected for such third-party code in the Unaudited Financial Statements by more than $200,000; provided that any increases in license fees resulting from a volume increase, additional licenses or other change in the operation of Business post Closing shall not be breaches of this representation.
(k) Buyer and Sellers agree that the representations and warranties included in this Section 4.09 shall be the sole and exclusive representations and warranties of Sellers with respect to Intellectual Property matters in this Agreement.
Appears in 3 contracts
Samples: Asset and Equity Interest Purchase Agreement (Johnsondiversey Holdings Inc), Asset and Equity Interest Purchase Agreement (Johnsondiversey Inc), Asset and Equity Interest Purchase Agreement (Johnsondiversey Inc)
Intellectual Property. CFC and the CFC Subsidiaries exclusively own, or have a valid license or other valid right to use, all Intellectual Property as used in their business as presently conducted; it being understood that the foregoing shall not be construed to expand or diminish the scope of the non-infringement representations and warranties that follow in this Section 3.14. No Actions, suits or other proceedings are pending or, to the Knowledge of CFC, threatened that CFC or any of the CFC Subsidiaries is infringing, misappropriating or otherwise violating the rights of any Person with regard to any Intellectual Property. To the Knowledge of CFC, no Person is infringing, misappropriating or otherwise violating the rights of CFC or any of the CFC Subsidiaries with respect to any Intellectual Property owned or purported to be owned by CFC or any of the CFC Subsidiaries (collectively the “CFC-Owned Intellectual Property”). To the Knowledge of CFC: (a) Schedule 4.09(a) sets forth a true and complete list of all no circumstances exist which could reasonably be expected to give rise to any (i) Registered Action that challenges the rights of CFC or any of the CFC Subsidiaries with respect to the validity or enforceability of the CFC-Owned Intellectual Property included in the Owned Intellectual Property, indicating for each item the registration or application number, the registration or application date, and the applicable filing jurisdiction and (ii) Owned Intellectual Property that is not registered but that is material to the operation claim of the Business. Sellers exclusively own allinfringement, right, title and interest in all Owned Intellectual Property, free and clear of all Encumbrances (other than Permitted Encumbrances). Sellers are not bound by any outstanding judgment, injunction, order or decree or any contractual obligation materially restricting the use by a Seller of the Owned Intellectual Propertymisappropriation, or materially restricting the licensing thereof to any Person. With respect to the Registered Intellectual Property included in the Owned Intellectual Property listed on Schedule 4.09(a), (i) all such Registered Intellectual Property is subsisting and, to Sellers’ Knowledge, valid and enforceable, (ii) a Seller is the owner of record, and (iii) all maintenance fees and filings that are required to be made to maintain such Registered Intellectual Property have been timely made (taking into account any applicable grace periods).
(b) Schedule 4.09(b) sets forth, or at the Closing will set forth, a true and complete list of all Intellectual Property Licenses. Except as set forth on Schedule 4.09(b), Sellers have provided Buyer with true and complete copies of all such Intellectual Property Licenses. All such Intellectual Property Licenses are, to Sellers’ Knowledge, valid, binding and enforceable between the applicable Seller and the other parties thereto, and Seller and, to Sellers’ Knowledge, such other parties are in compliance with the material terms and conditions of such Intellectual Property Licenses.
(c) To Sellers’ Knowledge, the conduct of the Business as currently conducted does not infringe, misappropriate, dilute or otherwise violate, and in the past three (3) years has not infringed, misappropriated or otherwise violated, any Intellectual Property rights of any Third Party. Sellers have not received any notice that Sellers’ use of the Transferred Intellectual Property in the conduct of the Business as currently conducted infringes, misappropriates, dilutes or otherwise violates, or in the past three (3) years has infringed, misappropriated or otherwise violated, any Intellectual Property Rights of any Third Party. No Proceedings are pending and no written notices have been received by Sellers during the past three (3) years (or earlier, if presently not resolved), in each case, alleging any infringement, misappropriation or other violation by Sellers of the Intellectual Property rights of any Third Party. Except as set forth in Schedule 4.09(c), to Sellers’ Knowledge, during the past three (3) years (or earlier, if presently not resolved) no Person has infringed, misappropriated, diluted or otherwise violated any of the Owned Intellectual Property or Transferred Technology, and no Seller has made or asserted any claim, demand or notice against any person or entity alleging any such infringement, misappropriation, dilution or other violation. There is no Proceeding pending or, to Sellers’ Knowledge, threatened, challenging a Seller’s ownership of any Owned Intellectual Property, or its right to use any Transferred Intellectual Property, or challenging the validity, registrability, or enforceability of any Registered Intellectual Property included in the Owned Intellectual Property.
(d) Sellers represent that they are, each as applicable, the registrant of record of each domain name as set forth in Schedule 4.09(d) (collectively, the “Domain Names”).
(e) Sellers have taken commercially reasonable measures to protect the confidentiality of all Trade Secrets included in the Owned Intellectual Property and no material Trade Secrets have been disclosed by Sellers to any Person except pursuant to written non-disclosure agreements or other obligations of confidentiality, and, to Sellers’ Knowledge, there has not been a breach of any such agreement or obligation by any such Person.
(f) To Seller’s Knowledge, Sellers have obtained from each Person (including current and former employees and independent contractors) who has created or developed for or on behalf of Sellers any Owned Intellectual Property that is material to the Business a written, present and, valid assignment of such Intellectual Property to a Seller.
(g) To Sellers’ Knowledge, in the past three (3) years, there has been no material unauthorized access to or material unauthorized use of any confidential or proprietary information or data that is both in Sellers’ possession or control and material to the Business.
(h) With respect to any material Software included within the Transferred Intellectual Property, to Sellers’ Knowledge (i) such Software is free from any material bugs, viruses or other malicious code, (ii) the Source Code for such Software has not been disclosed to any Third Party, and (iiib) such Software does not contain, derive from or link to any open source Software in a manner that requires the disclosure of any proprietary Source Code, limits the ability to charge fees, or grants any license to any Third Party to make derivative works.
(i) Neither the execution, delivery or performance of this Agreement, nor the consummation of the transactions contemplated by the Ancillary Agreements this Agreement will result in the material loss not give rise to any claim by any Person to a right to own, purchase, transfer, use, alter, impair, extinguish or impairment of restrict any of the CFC-Owned Intellectual Property.
(j) All third-party code that is incorporated into the proprietary Software included in the Transferred Property or Intellectual Property and that is critical licensed to the operation of such Software is commercially available (each a “Critical IP License” and collectively “Critical IP Licenses”), and following Closing, Buyer will be able to procure a license for all such third-party code for (i) an aggregate amount during the one-year period immediately following the Closing that shall not exceed the amount reflected for such third-party code in the Unaudited Financial Statements by more than $200,000, and (ii) an aggregate amount during the twelve (12) months period following the initial one-year period immediately following Closing that shall not exceed the amount reflected for such third-party code in the Unaudited Financial Statements by more than $200,000; provided that CFC or any increases in license fees resulting from a volume increase, additional licenses or other change in the operation of Business post Closing shall not be breaches of this representationCFC Subsidiary.
(k) Buyer and Sellers agree that the representations and warranties included in this Section 4.09 shall be the sole and exclusive representations and warranties of Sellers with respect to Intellectual Property matters in this Agreement.
Appears in 3 contracts
Samples: Merger Agreement (Carolina Financial Corp), Merger Agreement (United Bankshares Inc/Wv), Merger Agreement (Carolina Financial Corp)
Intellectual Property. (a) Schedule 4.09(aSection 5.13(a) of the Seller Schedules sets forth a true and complete list of all (i) Registered Seller Intellectual Property included in the Owned Intellectual Property, indicating for each item the registration or application number, the registration or application date, and the applicable filing jurisdiction and (ii) Owned material Licensed Intellectual Property that is not registered but or for which an application for registration has been filed, in each case under the authority of any Governmental Authority (collectively, the “Registered Intellectual Property”), including (i) the jurisdiction in which such item of Registered Intellectual Property has been registered or filed and the applicable registration or serial number; (ii) the current owner thereof; and (iii) the applicable application, registration or serial number and the expiration date thereof.
(b) To the Knowledge of Seller, the Intellectual Property includes all intellectual property that exclusively relates to, and all material intellectual property that is material to necessary to, the operation of the Business. Sellers Business as conducted on the date of this Agreement, and includes all patent applications and patents including claims that exclusively own allCover the Product or the Development Product; provided, that this Section 5.13(b) shall not be deemed to be breached (i) as a result of any action for which Buyer has provided its consent in writing (including pursuant to Section 7.1), or (ii) in the event that Seller does not take action as a result of Buyer not providing consent following the written request of Seller therefor pursuant to Section 7.1.
(c) Seller solely and exclusively owns all right, title and interest in all Owned the Seller Intellectual Property, and Seller Controls all other Intellectual Property, in each case, free and clear of all Encumbrances (other than Permitted Encumbrances). Sellers are not bound by any outstanding judgment, injunction, order or decree or any contractual obligation materially restricting the use by a Seller As of the Owned date hereof, to the Knowledge of Seller, the Seller Intellectual Property and material Licensed Intellectual Property, or materially restricting the licensing thereof to any Person. With respect to the Registered Intellectual Property included in the Owned Intellectual Property listed on Schedule 4.09(a), (i) all such Registered Intellectual Property is subsisting and, to Sellers’ Knowledge, valid and enforceable, (ii) a Seller is the owner of record, and (iii) all maintenance fees and filings that are required to be made to maintain such Registered Intellectual Property have been timely made (taking into account any applicable grace periods).
(b) Schedule 4.09(b) sets forth, or at the Closing will set forth, a true and complete list of all Intellectual Property Licenses. Except as set forth on Schedule 4.09(b)in Section 5.13(c) of the Seller Schedules, Sellers have provided Buyer with true and complete copies neither Seller nor any of all such its Affiliates has abandoned, canceled or forfeited any Intellectual Property Licenses. All such Intellectual Property Licenses are, (including by failing to Sellers’ Knowledge, valid, binding and enforceable between the applicable Seller and the other parties theretopay any filing or renewals fees), and Seller and, to Sellers’ Knowledge, such other parties are in compliance with the material terms and conditions of such Intellectual Property Licenseshas not taken any actions that would render a Patent invalid or unenforceable.
(cd) Seller has the full and legal right and authority to grant Buyer a license under the Seller Licensed Intellectual Property.
(e) To Sellers’ Knowledgethe Knowledge of Seller, Seller has accurately and completely disclosed to the conduct US Patent and Trademark Office all references or other evidence that Seller is obligated to disclose to comply with the duty of candor.
(f) Other than in the PIV Challenge, no Third Party, except a patent examiner or patent authority in the ordinary course of patent prosecution, has notified Seller in writing, or to the Knowledge of Seller, otherwise alleged, that any claim of a Patent is invalid, unpatentable, or unenforceable. Seller has not received any written notice (or, to the Knowledge of Seller, oral notice) from any Third Party challenging the validity, enforceability or ownership of any of the Business as currently conducted does not infringeIntellectual Property.
(g) As of the date hereof, misappropriate, dilute or otherwise violatethere is no, and in for the past three (3) years there has not infringedbeen no, misappropriated material judicial, administrative or otherwise violatedarbitral action, suit, hearing, inquiry, investigation or other Proceeding (public or private) before any Intellectual Property rights of any Third Party. Sellers have not received any notice Governmental Authority alleging that Sellers’ use the development, manufacture, sale or commercialization of the Transferred Intellectual Property in Product, or the conduct development of the Business as currently conducted infringesDevelopment Product, misappropriates, dilutes or otherwise violates, or in the past three (3) years has infringed, misappropriated or otherwise violated, any Intellectual Property Rights of any Third Party. No Proceedings are pending and no written notices have been received by Sellers during the past three (3) years (or earlier, if presently not resolved), in each case, alleging any constitutes infringement, misappropriation or other violation by Sellers of the Intellectual Property rights any intellectual property of any Third Party. Except as set forth in Schedule 4.09(c)Section 5.13(g) of the Seller Schedules, (i) to the Knowledge of Seller, there is no reasonable basis for any such allegation of infringement, misappropriation or violation; (ii) Seller has not received any written notice (or, to Sellers’ Knowledgethe Knowledge of Seller, during oral notice) from any Third Party making any such allegation, and (iii) to the past three (3) years (Knowledge of Seller, no Third Party is infringing, misappropriating or earlierotherwise violating any of the Intellectual Property and to the Knowledge of Seller, if presently not resolved) no Person Third Party has infringed, misappropriated, diluted misappropriated or otherwise violated any of the Owned Intellectual Property or Transferred Technology, and no Seller has made or asserted any claim, demand or notice against any person or entity alleging any such infringement, misappropriation, dilution or other violation. There is no Proceeding pending or, to Sellers’ Knowledge, threatened, challenging a Seller’s ownership of any Owned Intellectual Property, or its right to use any Transferred Intellectual Property, or challenging the validity, registrability, or enforceability of any Registered Intellectual Property included in the Owned Intellectual Property.
(d) Sellers represent that they are, each as applicable, the registrant of record of each domain name as set forth in Schedule 4.09(d) (collectively, the “Domain Names”).
(e) Sellers have taken commercially reasonable measures to protect the confidentiality of all Trade Secrets included in the Owned Intellectual Property and no material Trade Secrets have been disclosed by Sellers to any Person except pursuant to written non-disclosure agreements or other obligations of confidentiality, and, to Sellers’ Knowledge, there has not been a breach of any such agreement or obligation by any such Person.
(f) To Seller’s Knowledge, Sellers have obtained from each Person (including current and former employees and independent contractors) who has created or developed for or on behalf of Sellers any Owned Intellectual Property that is material to the Business a written, present and, valid assignment of such Intellectual Property to a Seller.
(g) To Sellers’ Knowledge, in the past three (3) years, there has been no material unauthorized access to or material unauthorized use of any confidential or proprietary information or data that is both in Sellers’ possession or control and material to the Business..
(h) With respect to Other than as set forth on Section 5.13(h) of the Seller Schedules, none of Seller or any material Software included within of its Affiliates has granted any outbound licenses under the Transferred Seller Intellectual Property, other than non-exclusive licenses granted to Sellers’ Knowledge (i) such Software is free from any material bugsmanufacturers, viruses suppliers, distributors or other malicious codePersons performing manufacturing, (ii) supply, marketing or other services on behalf of Seller or any of its Affiliates, in each case to the Source Code for extent necessary to perform such Software has not been disclosed to any Third Party, and (iii) such Software does not contain, derive from or link to any open source Software services in a manner that requires the disclosure Ordinary Course of any proprietary Source Code, limits the ability to charge fees, or grants any license to any Third Party to make derivative worksBusiness.
(i) Neither the execution, delivery or performance of this Agreement, nor the consummation Except as set forth on Section 5.13(i) of the transactions contemplated by the Ancillary Agreements will result Seller Schedules, all Persons named as inventors on any Patents included in the material loss or impairment of any of the Owned Seller Intellectual Property, or who should have been listed as such in accordance with applicable Law, have executed and delivered to Seller or its Affiliate, as applicable, a Contract providing for the present assignment by such Person to Seller or its Affiliate, as applicable, of all rights in such Patents.
(j) All third-party code Notwithstanding anything to the contrary, Buyer acknowledges and agrees that is incorporated into the proprietary Software included only representations and warranties given in relation to matters relating to the Transferred Intellectual Property and that is critical to the operation of such Software is commercially available (each a “Critical IP License” and collectively “Critical IP Licenses”)specifically addressed in this Section 5.13, are those set out in this Section 5.13, and following Closing, Buyer will be able no other representation or warranty is given in relation to procure a license for all such third-party code for (i) an aggregate amount during the one-year period immediately following the Closing that shall not exceed the amount reflected for such third-party code in the Unaudited Financial Statements by more than $200,000, and (ii) an aggregate amount during the twelve (12) months period following the initial one-year period immediately following Closing that shall not exceed the amount reflected for such third-party code in the Unaudited Financial Statements by more than $200,000; provided that any increases in license fees resulting from a volume increase, additional licenses or other change in the operation of Business post Closing shall not be breaches of this representationmatters.
(k) Buyer and Sellers agree Seller does not Control any trademarks, trademark applications, service marks, trade names, certification marks, service names, industrial designs, brand marks, trade dress rights, identifying symbols, logos, emblems, signs, insignia or domain names, or any registrations for any of the foregoing, other than those set forth in Exhibit F, that are exclusively related to the representations and warranties included in this Section 4.09 shall be Business, the sole and exclusive representations and warranties Product or the Development Product as of Sellers with respect to Intellectual Property matters in this Agreementthe Closing Date.
Appears in 3 contracts
Samples: Asset Purchase Agreement (Journey Medical Corp), Asset Purchase Agreement (Journey Medical Corp), Asset Purchase Agreement (Fortress Biotech, Inc.)
Intellectual Property. (a) Schedule 4.09(a) sets forth a true and complete list of all (i) Registered Schedule 5.1(q)(i) lists the Intellectual Property included in the Owned for products developed by Schelfhout. The Intellectual Property, indicating and all registrations of the Intellectual Property, are valid and subsisting. All of the registrations and applications for each item registration of the Intellectual Property are in good standing and are recorded in the name of Schelfhout. No application for registration or application number, of any of the registration or application date, and the applicable filing jurisdiction and Intellectual Property has been rejected.
(ii) Owned Schelfhout is the first and only owner of the Intellectual Property that and is not registered but that is material entitled to the operation uninterrupted use of the BusinessIntellectual Property without payment of any royalty or other fees. Sellers exclusively own all, No Person has any right, title and or interest in any of the Intellectual Property and all Owned such persons have waived their moral rights in any copyright works within the Intellectual Property. Schelfhout has diligently protected its legal rights to the exclusive use of the Intellectual Property.
(iii) There is no current litigation pending or threatened against or relating to the Intellectual Property.
(iv) Schelfhout has not permitted or licensed any Person to use any of the Intellectual Property, free and clear except for Schelfhout's customers.
(v) No Person has challenged the validity of all Encumbrances (other than Permitted Encumbrances). Sellers are not bound by any outstanding judgment, injunction, order registrations for the Intellectual Property or decree or the rights of Schelfhout to any contractual obligation materially restricting the use by a Seller of the Owned Intellectual Property, or materially restricting except for the licensing thereof to any Personlitigation Xxxxxxx x. Xxxxxxxxxx XX in which Xxxxxxx finally has withdrawn its suit (art. With respect to the Registered Intellectual Property included in the Owned Intellectual Property listed on Schedule 4.09(a), (i) all such Registered Intellectual Property is subsisting and, to Sellers’ Knowledge, valid and enforceable, (ii) a Seller is the owner of record, and (iii) all maintenance fees and filings that are required to be made to maintain such Registered Intellectual Property have been timely made (taking into account any applicable grace periods4.1 f).
(bvi) Schedule 4.09(b) sets forthTo the best of the knowledge of the Vendors, or at neither the Closing will set forth, a true and complete list use of all the Intellectual Property Licenses. Except as set forth on Schedule 4.09(b)(which includes products, Sellers have provided Buyer with true processes, methods, substances, parts and complete copies of all such Intellectual Property Licenses. All such Intellectual Property Licenses are, to Sellers’ Knowledge, valid, binding and enforceable between the applicable Seller and the other parties thereto, and Seller and, to Sellers’ Knowledge, such other parties are materials presently sold by or used by Schelfhout in compliance connection with the material terms and conditions of such Intellectual Property Licenses.
(cBusiness) To Sellers’ Knowledge, nor the conduct of the Business as has infringed or currently conducted does not infringe, misappropriate, dilute infringes upon the industrial or otherwise violate, and in the past three (3) years has not infringed, misappropriated or otherwise violated, any Intellectual Property intellectual property rights of any Third Party. Sellers have not received any notice that Sellers’ use other Person.
(vii) To the best of the Transferred Intellectual Property in the conduct knowledge of the Business as currently conducted infringesVendors, misappropriates, dilutes or otherwise violates, or in the past three (3) years has infringed, misappropriated or otherwise violated, any Intellectual Property Rights of any Third Party. No Proceedings are pending and no written notices have been received by Sellers during the past three (3) years (or earlier, if presently not resolved), in each case, alleging any infringement, misappropriation or other violation by Sellers of the Intellectual Property rights of any Third Party. Except as set forth in Schedule 4.09(c), to Sellers’ Knowledge, during the past three (3) years (or earlier, if presently not resolved) no Person has infringed, misappropriated, diluted or otherwise violated any of infringed the Owned Intellectual Property or Transferred Technology, and no Seller has made or asserted any claim, demand or notice against any person or entity alleging any such infringement, misappropriation, dilution or other violation. There is no Proceeding pending or, Schelfhout rights to Sellers’ Knowledge, threatened, challenging a Seller’s ownership of any Owned Intellectual Property, or its right to use any Transferred Intellectual Property, or challenging the validity, registrability, or enforceability of any Registered Intellectual Property included in the Owned Intellectual Property.
(dviii) Sellers represent that they are, each as applicable, There is no governmental prohibition or restriction on the registrant of record of each domain name as set forth in Schedule 4.09(d) (collectively, the “Domain Names”).
(e) Sellers have taken commercially reasonable measures to protect the confidentiality of all Trade Secrets included in the Owned Intellectual Property and no material Trade Secrets have been disclosed by Sellers to any Person except pursuant to written non-disclosure agreements or other obligations of confidentiality, and, to Sellers’ Knowledge, there has not been a breach of any such agreement or obligation by any such Person.
(f) To Seller’s Knowledge, Sellers have obtained from each Person (including current and former employees and independent contractors) who has created or developed for or on behalf of Sellers any Owned Intellectual Property that is material to the Business a written, present and, valid assignment of such Intellectual Property to a Seller.
(g) To Sellers’ Knowledge, in the past three (3) years, there has been no material unauthorized access to or material unauthorized use of any confidential or proprietary information or data that is both in Sellers’ possession or control and material to the Business.
(h) With respect to any material Software included within the Transferred Intellectual Property, to Sellers’ Knowledge (i) such Software is free from any material bugs, viruses or other malicious code, (ii) the Source Code for such Software has not been disclosed to any Third Party, and (iii) such Software does not contain, derive from or link to any open source Software in a manner that requires the disclosure of any proprietary Source Code, limits the ability to charge fees, or grants any license to any Third Party to make derivative works.
(i) Neither the execution, delivery or performance of this Agreement, nor the consummation of the transactions contemplated by the Ancillary Agreements will result in the material loss or impairment of any of the Owned Intellectual Property.
(j) All third-party code that is incorporated into the proprietary Software included in the Transferred Intellectual Property and that is critical to the operation of such Software is commercially available (each a “Critical IP License” and collectively “Critical IP Licenses”), and following Closing, Buyer will be able to procure a license for all such third-party code for (i) an aggregate amount during the one-year period immediately following the Closing that shall not exceed the amount reflected for such third-party code in the Unaudited Financial Statements by more than $200,000, and (ii) an aggregate amount during the twelve (12) months period following the initial one-year period immediately following Closing that shall not exceed the amount reflected for such third-party code in the Unaudited Financial Statements by more than $200,000; provided that any increases in license fees resulting from a volume increase, additional licenses or other change in the operation of Business post Closing shall not be breaches of this representation.
(k) Buyer and Sellers agree that the representations and warranties included in this Section 4.09 shall be the sole and exclusive representations and warranties of Sellers with respect to Intellectual Property matters in this Agreement.
Appears in 3 contracts
Samples: Share Purchase Agreement (E Auction Global Trading Inc), Share Purchase Agreement (E Auction Global Trading Inc), Share Purchase Agreement (E Auction Global Trading Inc)
Intellectual Property. (a) Schedule 4.09(a) sets forth a true and complete list of all (i) Registered Intellectual Property included in the Owned Intellectual Property, indicating for each item the registration or application number, the registration or application date, and the applicable filing jurisdiction and (ii) Owned Intellectual Property that SCHEDULE 4.9 is not registered but that is material to the operation of the Business. Sellers exclusively own all, right, title and interest in all Owned Intellectual Property, free and clear of all Encumbrances (other than Permitted Encumbrances). Sellers are not bound by any outstanding judgment, injunction, order or decree or any contractual obligation materially restricting the use by a Seller of the Owned Intellectual Property, or materially restricting the licensing thereof to any Person. With respect to the Registered Intellectual Property included in the Owned Intellectual Property listed on Schedule 4.09(a), (i) all such Registered Intellectual Property is subsisting and, to Sellers’ Knowledge, valid and enforceable, (ii) a Seller is the owner of record, and (iii) all maintenance fees and filings that are required to be made to maintain such Registered Intellectual Property have been timely made (taking into account any applicable grace periods).
(b) Schedule 4.09(b) sets forth, or at the Closing will set forth, a true and complete list of all Intellectual Property Licensesused by Target in the conduct of its business. Except as disclosed on SCHEDULE 4.9:
(a) all of the Intellectual Property as set forth on Schedule 4.09(b)SCHEDULE 4.9 is owned by Target or licensed on a perpetual, Sellers have provided Buyer exclusive basis with true and complete copies royalties as set forth on SCHEDULE 4.9;
(b) none of all such the Intellectual Property Licenses. All such Intellectual Property Licenses areas set forth on SCHEDULE 4.9 is the subject of any pending or, to Sellers’ Knowledgethe Knowledge of Target, validthreatened, binding and enforceable between the applicable Seller and the other parties thereto, and Seller and, to Sellers’ Knowledge, such other parties are in compliance with the material terms and conditions litigation or claim of such Intellectual Property Licenses.infringement;
(c) To Sellers’ Knowledgeno license or royalty agreement as set forth on SCHEDULE 4.9 to which Target is a party is in breach or default by Target or, to the Knowledge of Target, any other party thereto; and no license or royalty agreement as set forth on SCHEDULE 4.9 is the subject of any notice of termination given or threatened in writing;
(d) to the Knowledge of Target, the conduct of the Business as products and services being offered or developed by Target do not and currently conducted does will not infringe, misappropriate, dilute or otherwise violate, and in the past three (3) years has not infringed, misappropriated or otherwise violated, infringe any Intellectual Property rights of any Third Party. Sellers have another; and Target has not received any notice that Sellers’ use of the Transferred Intellectual Property in the conduct of the Business as currently conducted infringes, misappropriates, dilutes or otherwise violates, or in the past three (3) years has infringed, misappropriated or otherwise violated, any Intellectual Property Rights of any Third Party. No Proceedings are pending and no written notices have been received by Sellers during the past three (3) years (or earlier, if presently not resolved), in each case, alleging any infringement, misappropriation or other violation by Sellers of the Intellectual Property rights of any Third Party. Except as set forth in Schedule 4.09(c), to Sellers’ Knowledge, during the past three (3) years (or earlier, if presently not resolved) no Person has infringed, misappropriated, diluted or otherwise violated any of the Owned Intellectual Property or Transferred Technology, and no Seller has made or asserted any claim, demand or notice against any person or entity alleging any such infringement, misappropriation, dilution or other violation. There is no Proceeding pending or, to Sellers’ Knowledge, threatened, challenging a Seller’s ownership of any Owned Intellectual Property, or contesting its right to use any Transferred Intellectual Property, or challenging the validity, registrability, or enforceability of any Registered Intellectual Property included in the Owned Intellectual Property.
(d) Sellers represent that they are, each as applicable, the registrant of record of each domain name as set forth in Schedule 4.09(d) (collectively, the “Domain Names”).on SCHEDULE 4.9;
(e) Sellers have taken commercially reasonable measures to protect the confidentiality of all Trade Secrets included in the Owned Intellectual Property and no material Trade Secrets have been disclosed by Sellers to any Person except pursuant to written non-disclosure agreements or other obligations of confidentiality, and, to Sellers’ Knowledge, there Target has not been a breach granted any license or agreed to pay or receive any royalty in respect of any such agreement or obligation by any such Person.Intellectual Property; and
(f) To Seller’s Knowledge, Sellers have obtained from each Person (including current Target possesses adequate rights as owner or licensee in and former employees and independent contractors) who has created or developed for or on behalf of Sellers any Owned to all Intellectual Property that is material necessary to the Business a written, present and, valid assignment of such Intellectual Property to a Sellerconduct its business as currently conducted.
(g) To Sellers’ KnowledgeTarget has no Knowledge which, directly or indirectly, indicates a material infirmity in any United States and foreign Intellectual Property set forth on SCHEDULE 4.9, or any basis for invalidity or unenforceability of any rights claimed by Target in the past three (3) years, there has been no material unauthorized access to or material unauthorized use of any confidential or proprietary information or data that is both in Sellers’ possession or control and material to the BusinessIntellectual Property set forth on SCHEDULE 4.9.
(h) With respect to any material Software included within Target has no Knowledge which, directly or indirectly, indicates that the Transferred Intellectual Property, to Sellers’ Knowledge (i) such Software is free from any material bugs, viruses or other malicious code, (ii) the Source Code for such Software licensor in each license agreement under which Target has not been disclosed to any Third Party, and (iii) such Software granted rights set forth on SCHEDULE 4.9 does not containown the entire unencumbered right, derive from or link title and interest in and to any open source Software in a manner that requires the disclosure Intellectual Property set forth on SCHEDULE 4.9 which is the subject of any proprietary Source Code, limits the ability to charge fees, or grants any license to any Third Party to make derivative workslicense.
(i) Neither Target has delivered to Orion for inspection and copying a true copy of each document in Target’s possession relating to each item of Target Intellectual Property set forth on SCHEDULE 4.9, including each license agreement, relating to Target’s present and intended business activities, and has disclosed to Orion each and all facts, test results and other information known to Target which has, or to its Knowledge may have, any negative impact upon the execution, delivery or performance of this Agreement, nor the consummation of the transactions contemplated by the Ancillary Agreements will result in the material loss or impairment efficacy of any of the Owned Intellectual Property.
(j) All third-party code that is incorporated into the proprietary Software included in the Transferred Target Intellectual Property and that is critical to the operation of such Software is commercially available (each a “Critical IP License” and collectively “Critical IP Licenses”), and following Closing, Buyer will be able to procure a license for all such third-party code for (i) an aggregate amount during the one-year period immediately following the Closing that shall not exceed the amount reflected for such third-party code in the Unaudited Financial Statements by more than $200,000, and (ii) an aggregate amount during the twelve (12) months period following the initial one-year period immediately following Closing that shall not exceed the amount reflected for such third-party code in the Unaudited Financial Statements by more than $200,000; provided that any increases in license fees resulting from a volume increase, additional licenses or other change in the operation of Business post Closing shall not be breaches of this representationset forth on SCHEDULE 4.9.
(k) Buyer and Sellers agree that the representations and warranties included in this Section 4.09 shall be the sole and exclusive representations and warranties of Sellers with respect to Intellectual Property matters in this Agreement.
Appears in 3 contracts
Samples: Merger Agreement (Orion Acquisition Corp Ii), Merger Agreement (Selena Pharmeceuticals Inc), Merger Agreement (Orion Acquisition Corp Ii)
Intellectual Property. Contractor represents and warrants that it has the full legal power and authority to grant any and all licenses of materials used by the Contractor for this Agreement and hereby grants to the Village any and all such licenses and unrestricted use thereof. The Village shall own, without restriction or limitation, all text, graphics, designs, renderings, images, logos, social media posts, audio visual materials, tag lines, processes, ideas and any and all other content in any and all formats (a) Schedule 4.09(a) sets forth a true and complete list of all (i) Registered Intellectual Property included in the Owned collectively “Intellectual Property”) created by or provided by Contractor, indicating Contractor’s employees or Contractor’s independent contractors for each item purposes of fulfilling the registration or application number, the registration or application date, and the applicable filing jurisdiction and (ii) Owned Intellectual Property terms of this Agreement. Contractor will ensure that is not registered but all independent contractors have written agreements in place that is material to the operation of the Business. Sellers exclusively own all, right, title and interest in all Owned Intellectual Property, free and clear of all Encumbrances (other than Permitted Encumbrances). Sellers are not bound by any outstanding judgment, injunction, order or decree or any contractual obligation materially restricting the use by a Seller of the Owned Intellectual Property, or materially restricting the licensing thereof to any Person. With respect to the Registered Intellectual Property included in the Owned Intellectual Property listed on Schedule 4.09(a), (i) all such Registered Intellectual Property is subsisting and, to Sellers’ Knowledge, valid and enforceable, (ii) a Seller is the owner of record, and (iii) all maintenance fees and filings that are required to be made to maintain such Registered Intellectual Property have been timely made (taking into account any applicable grace periods).
(b) Schedule 4.09(b) sets forth, or at the Closing will set forth, a true and complete list transfers ownership of all Intellectual Property Licensescreated by them or provided by them to the Village, without restriction or limitation. Except as set forth on Schedule 4.09(b), Sellers have provided Buyer with true Contractor represents and complete copies of warrants that all such Intellectual Property Licensesprovided to the Village by Contractor will not infringe on any copyrights, trademark rights, patent rights, trade secrets or other rights of any third-party. All Contractor agrees to indemnify, defend and hold Village harmless from and against any loss, cost, damage, liability, or expense (including attorney’s fees and other reasonable litigation expenses) suffered or incurred by Village in connection with any such Intellectual Property Licenses areinfringement claim by any third-party. If a claim is made or an action brought that the materials provided (or any component thereof) to the Village, to Sellers’ Knowledgeinfringes a third-party patent, validcopyright, binding or trademark, or misappropriates any trade secret or other intellectual property right, then Contractor will defend Village from, in the manner and enforceable between form determined in the applicable Seller and sole discretion of the other parties theretoVillage, and Seller and, to Sellers’ Knowledgeindemnify and hold harmless Village against, such other parties are in compliance with the material terms claim and conditions any resulting costs, damages and attorneys’ fees arising out of or incurred as a result of such Intellectual Property Licenses.
(c) To Sellers’ Knowledgeclaim, the conduct together with all amounts finally awarded or agreed to in settlement. The Village shall have sole control of the Business as currently conducted does not infringedefense and all related settlement negotiations at the Contractor’s expense. Contractor agrees to cooperate fully in any investigation, misappropriate, dilute defense or otherwise violate, and in settlement of such claim or action. If the past three (3) years has not infringed, misappropriated or otherwise violated, Village is enjoined from using any Intellectual Property rights due to an actual or claimed infringement of any Third Partypatent, trademark, or copyright or other property right or for any other reason, then at Contractor’s option, Contractor shall promptly either: (i) procure for the Village, at Contractor’s expense, the right to continue using the Intellectual Property; or (ii) replace or modify the Intellectual Property, at Contractor’s expense, so that the Intellectual Property become non-infringing. Sellers have not received any notice that Sellers’ use Contractor shall assist the Village in protecting its ownership of the Transferred Intellectual Property Property. Such assistance shall include, without limitation, providing such assistance as may be necessary for the Village to obtain registrations for its rights in the conduct of the Business as currently conducted infringes, misappropriates, dilutes or otherwise violates, or in the past three (3) years has infringed, misappropriated or otherwise violated, and to any Intellectual Property Rights solely in the name of any Third PartyVillage and to enforce its rights in such Intellectual Property. No Proceedings are pending and no written notices have been received by Sellers during the past three (3) years (or earlier, if presently not resolved), in each case, alleging any infringement, misappropriation or other violation by Sellers of the These Intellectual Property rights of any Third Party. Except as set forth in Schedule 4.09(c)rights, to Sellers’ Knowledgerepresentations, during warrants and protections will survive the past three (3) years (termination or earlier, if presently not resolved) no Person has infringed, misappropriated, diluted or otherwise violated any of the Owned Intellectual Property or Transferred Technology, and no Seller has made or asserted any claim, demand or notice against any person or entity alleging any such infringement, misappropriation, dilution or other violation. There is no Proceeding pending or, to Sellers’ Knowledge, threatened, challenging a Seller’s ownership of any Owned Intellectual Property, or its right to use any Transferred Intellectual Property, or challenging the validity, registrability, or enforceability of any Registered Intellectual Property included in the Owned Intellectual Property.
(d) Sellers represent that they are, each as applicable, the registrant of record of each domain name as set forth in Schedule 4.09(d) (collectively, the “Domain Names”).
(e) Sellers have taken commercially reasonable measures to protect the confidentiality of all Trade Secrets included in the Owned Intellectual Property and no material Trade Secrets have been disclosed by Sellers to any Person except pursuant to written non-disclosure agreements or other obligations of confidentiality, and, to Sellers’ Knowledge, there has not been a breach of any such agreement or obligation by any such Person.
(f) To Seller’s Knowledge, Sellers have obtained from each Person (including current and former employees and independent contractors) who has created or developed for or on behalf of Sellers any Owned Intellectual Property that is material to the Business a written, present and, valid assignment of such Intellectual Property to a Seller.
(g) To Sellers’ Knowledge, in the past three (3) years, there has been no material unauthorized access to or material unauthorized use of any confidential or proprietary information or data that is both in Sellers’ possession or control and material to the Business.
(h) With respect to any material Software included within the Transferred Intellectual Property, to Sellers’ Knowledge (i) such Software is free from any material bugs, viruses or other malicious code, (ii) the Source Code for such Software has not been disclosed to any Third Party, and (iii) such Software does not contain, derive from or link to any open source Software in a manner that requires the disclosure of any proprietary Source Code, limits the ability to charge fees, or grants any license to any Third Party to make derivative works.
(i) Neither the execution, delivery or performance expiration of this Agreement, nor the consummation whether by lapse of the transactions contemplated by the Ancillary Agreements will result in the material loss time or impairment of any of the Owned Intellectual Propertyotherwise.
(j) All third-party code that is incorporated into the proprietary Software included in the Transferred Intellectual Property and that is critical to the operation of such Software is commercially available (each a “Critical IP License” and collectively “Critical IP Licenses”), and following Closing, Buyer will be able to procure a license for all such third-party code for (i) an aggregate amount during the one-year period immediately following the Closing that shall not exceed the amount reflected for such third-party code in the Unaudited Financial Statements by more than $200,000, and (ii) an aggregate amount during the twelve (12) months period following the initial one-year period immediately following Closing that shall not exceed the amount reflected for such third-party code in the Unaudited Financial Statements by more than $200,000; provided that any increases in license fees resulting from a volume increase, additional licenses or other change in the operation of Business post Closing shall not be breaches of this representation.
(k) Buyer and Sellers agree that the representations and warranties included in this Section 4.09 shall be the sole and exclusive representations and warranties of Sellers with respect to Intellectual Property matters in this Agreement.
Appears in 3 contracts
Samples: Contract for Holiday Decorations and Installation, Contract for Outfitting, Holiday Décor Installation and Takedown Agreement
Intellectual Property. (a) Seller own, free and clear from all Liens, or otherwise possesses legally enforceable rights to use all of the Intellectual Property reasonably necessary to conduct the Business as presently conducted. The Intellectual Property owned or purported to be owned by Seller (“Owned Intellectual Property”) and the Intellectual Property licensed to Seller under the Intellectual Property Licenses comprise all of the Intellectual Property that is used in the Business by Seller or reasonably required for the continued conduct of the Business. Seller is the sole owners of all rights title and interest in the Owned Intellectual Property free and clear of all Liens other than Permitted Liens. Following Closing, all Owned Intellectual Property will be fully transferrable, alienable and licensable by Purchaser without restriction and without payment of any kind or obligation to any third party.
(b) Section 2.11(b)(i) of the Disclosure Schedule 4.09(a) sets forth a true true, correct, and complete list of all (i) Registered Owned Intellectual Property included in the Owned Intellectual Property, indicating for each item the which a registration or application numberhas been filed with a Governmental Body, the registration or application dateincluding patents, trademarks, service marks, and copyrights, issued by or registered with, or for which any application for issuance or registration thereof has been filed with, any Governmental Body. Section 2.11(b)(ii) of the applicable filing jurisdiction Disclosure Schedule sets forth a true, correct, and (ii) complete list of all trademarks, service marks and other trade designations as well as all software programs that are Owned Intellectual Property that is and not registered but that is material otherwise identified in Section 2.11(b)(i) of the Disclosure Schedule. All required filings and fees related to the operation of the Business. Sellers exclusively own all, right, title and interest in all Owned Intellectual Property, free and clear of all Encumbrances (other than Permitted Encumbrances). Sellers are not bound by any outstanding judgment, injunction, order or decree or any contractual obligation materially restricting the use by a Seller of the Owned Intellectual Property, or materially restricting the licensing thereof to any Person. With respect to the Registered Intellectual Property included in the Owned Intellectual Property listed on Schedule 4.09(a), (i) all such Registered Intellectual Property is subsisting and, to Sellers’ Knowledge, valid and enforceable, (ii) a Seller is the owner of record, and (iii) all maintenance fees and filings that are required to be made to maintain such Registered Intellectual Property have been timely made (taking into account filed with and paid to the relevant Governmental Body and authorized registrars, are not in any applicable grace periods).
(bor surcharge period and all Owned Intellectual Property is otherwise valid and in good standing. Section 2.11(b)(iii) of the Disclosure Schedule 4.09(b) sets forthforth a true, or at the Closing will set forthcorrect, a true and complete list of all written or oral licenses and arrangements (other than Ordinary Course licenses of commercially available and unmodified software): (A) pursuant to which Seller permits any Person to use any Owned Intellectual Property; or (B) pursuant to which any Person permits any Seller to use any Intellectual Property used in the Business; or (B) pursuant to which the use by Seller of Intellectual Property is permitted by any Person (collectively, the “Intellectual Property Licenses”). Except as set forth on Schedule 4.09(b), Sellers have provided Buyer with true and complete copies of all such Intellectual Property Licenses. All such The Intellectual Property Licenses are, to Sellers’ Knowledge, are valid, binding binding, and enforceable between the applicable Seller and the other parties thereto and are in full force and effect. There is no material Breach of any Intellectual Property License by Seller or, to the Knowledge of Seller, by any other party thereto. No party to any Intellectual Property License has given written notice to Seller of such party’s intention to cancel, terminate or non-renew such agreement. All software used by any Seller is licensed from third parties and used pursuant to, and Seller andwithin the scope of, to Sellers’ Knowledge, such a valid license or other parties are in compliance with enforceable right (including the material terms appropriate number of seats being used) and conditions of such Intellectual Property Licensesis not a “bootleg” or otherwise unauthorized version or copy.
(c) To Sellers’ Knowledge, The use of the conduct Owned Intellectual Property used in the Business and the continued operation of the Business as currently presently conducted does not infringeis not, misappropriateto the Knowledge of Seller, dilute or otherwise violatesubject to any third party objection that it interferes with, and in the past three (3) years has not infringed, misappropriated or otherwise violated, any Intellectual Property rights of any Third Party. Sellers have not received any notice that Sellers’ use of the Transferred Intellectual Property in the conduct of the Business as currently conducted infringesinfringes upon, misappropriates, dilutes or otherwise violates, or in the past three (3) years has infringed, misappropriated or otherwise violatedcomes into conflict with, any Intellectual Property Rights of third parties or constitutes unfair competition in any Third Partyjurisdiction in which Seller currently does business. No Proceedings are pending and no written notices have been Seller has not received by Sellers during the past three (3) years (or earlier, if presently not resolved), in each case, any notice alleging its infringement upon any infringement, misappropriation or other violation by Sellers of the Intellectual Property rights Rights of any Third Party. Except as set forth in Schedule 4.09(c), to Sellers’ Knowledge, during third parties or the past three (3) years (invalidity or earlier, if presently not resolved) no Person has infringed, misappropriated, diluted or otherwise violated any of the Owned Intellectual Property or Transferred Technology, and no Seller has made or asserted any claim, demand or notice against any person or entity alleging any such infringement, misappropriation, dilution or other violation. There is no Proceeding pending or, to Sellers’ Knowledge, threatened, challenging a Seller’s ownership unenforceability of any Owned Intellectual Property, and to the Knowledge of Seller, there are no bona fide grounds for any such claim. To Seller’s Knowledge, no Person has infringed or its right to use is infringing any Transferred Intellectual Property, or challenging the validity, registrability, or enforceability Property Rights of any Registered Intellectual Property included in the Seller or has otherwise misappropriated or is otherwise misappropriating any Owned Intellectual Property.
(d) Sellers represent that they areNo current or former employee, each as applicableconsultant, the registrant of record of each domain name as set forth in Schedule 4.09(d) (collectively, the “Domain Names”).
(e) Sellers have taken commercially reasonable measures to protect the confidentiality of all Trade Secrets included in the Owned Intellectual Property and no material Trade Secrets have been disclosed by Sellers to any Person except pursuant to written non-disclosure agreements or other obligations of confidentiality, and, to Sellers’ Knowledge, there has not been a breach of any such agreement or obligation by any such Person.
(f) To Seller’s Knowledge, Sellers have obtained from each Person (including current and former employees and independent contractors) who has created or developed for or on behalf of Sellers any Owned Intellectual Property that is material to the Business a written, present and, valid assignment of such Intellectual Property to a Seller.
(g) To Sellers’ Knowledge, in the past three (3) years, there has been no material unauthorized access to or material unauthorized use of any confidential or proprietary information or data that is both in Sellers’ possession or control and material to the Business.
(h) With respect to any material Software included within the Transferred Intellectual Property, to Sellers’ Knowledge (i) such Software is free from any material bugs, viruses or other malicious code, (ii) the Source Code for such Software has not been disclosed to any Third Party, and (iii) such Software does not contain, derive from or link to any open source Software in a manner that requires the disclosure of any proprietary Source Code, limits the ability to charge feescontractor, or grants any license other Person has any right, claim, or interest to any Third Party to make derivative works.
(i) Neither the execution, delivery or performance of this Agreement, nor the consummation of the transactions contemplated by the Ancillary Agreements will result in the material loss or impairment of any of the Owned Intellectual Property. To the Knowledge of Seller, no employee, consultant, or contractor of Seller has been, is, or will be performing services for the Business in Breach of any term of any employment, invention disclosure or assignment, confidentiality, or noncompetition agreement or other restrictive covenant or any Order as a result of such employee’s employment in, or such consultant’s or contractor’s engagement to provide services with respect to, the Business.
(je) All third-party code There are no actions that is incorporated into must be taken by Purchaser within one hundred eighty (180) days after the proprietary Software included date of this Agreement, including the payment of any registration, maintenance, or renewal fees or the filing of any documents, applications, or certificates for the purposes of maintaining, perfecting, or preserving or renewing any right in any Owned Intellectual Property. Section 2.11(e) of the Disclosure Schedule lists the status of any proceedings or actions pending or, to the Knowledge of Seller, threatened before any Governmental Body anywhere in the Transferred world related to any of the Owned Intellectual Property and or any Intellectual Property License, including the due date for any outstanding response by Seller in such proceedings. Seller has not taken any action or failed to take any action that is critical to the operation of such Software is commercially available (each a “Critical IP License” and collectively “Critical IP Licenses”), and following Closing, Buyer will be able to procure a license for all such third-party code for (i) an aggregate amount during the one-year period immediately following the Closing that shall not exceed the amount reflected for such third-party code could result in the Unaudited Financial Statements by more than $200,000abandonment, and (ii) an aggregate amount during the twelve (12) months period following the initial one-year period immediately following Closing that shall not exceed the amount reflected for such third-party code in the Unaudited Financial Statements by more than $200,000; provided that cancellation, forfeiture, relinquishment, invalidation, waiver, or unenforceability of any increases in license fees resulting from a volume increase, additional licenses or other change in the operation of Business post Closing shall not be breaches of this representationOwned Intellectual Property.
(k) Buyer and Sellers agree that the representations and warranties included in this Section 4.09 shall be the sole and exclusive representations and warranties of Sellers with respect to Intellectual Property matters in this Agreement.
Appears in 3 contracts
Samples: Asset Purchase Agreement (Ranger Energy Services, Inc.), Asset Purchase Agreement (Ranger Energy Services, Inc.), Asset Purchase Agreement (Ranger Energy Services, Inc.)
Intellectual Property. (a) Schedule 4.09(a) sets forth a true The Borrower and complete list of its Subsidiaries shall, at their sole expense, prepare, execute, deliver and file any and all agreements, documents or instruments which are necessary or desirable to (i) Registered use commercially reasonable efforts to prosecute and maintain the material Intellectual Property included in the Owned Intellectual Property, indicating for each item the registration or application number, the registration or application date, and the applicable filing jurisdiction (including Patents therein); and (ii) Owned use commercially reasonable efforts to defend or assert such material Intellectual Property that is not registered but that is material to against commercially significant infringement or interference by any other Persons, and against any claims of invalidity or unenforceability, in any jurisdiction (including by bringing any legal action for infringement or defending any counterclaim of invalidity or action of a Third Party for declaratory judgment of non-infringement or non-interference) in the operation of Exploitation Territory. The Borrower shall keep the Business. Sellers exclusively own all, right, title and interest in all Owned Intellectual Property, free and clear Lender informed of all Encumbrances (other than Permitted Encumbrances). Sellers are not bound by any outstanding judgment, injunction, order or decree or any contractual obligation materially restricting of such actions and the use by a Seller of Lender shall have the Owned Intellectual Property, or materially restricting opportunity to participate and meaningfully consult with the licensing thereof to any Person. With Borrower with respect to the Registered direction thereof and the Borrower shall consider all of the Lender's comments in good faith. This subsection (a) shall apply only with respect to material Intellectual Property included in owned by the Owned Intellectual Property listed on Schedule 4.09(a), (i) all such Registered Intellectual Property is subsisting andBorrower or its Subsidiaries or, to Sellers’ Knowledgethe extent that the Borrower or any Subsidiary has prosecution, valid and enforceablemaintenance and/or enforcement rights with respect thereto, (ii) a Seller is licensed by the owner of record, and (iii) all maintenance fees and filings that are required to be made to maintain such Registered Intellectual Property have been timely made (taking into account any applicable grace periods)Borrower or its Subsidiaries.
(b) Schedule 4.09(b) sets forth, or at The Borrower and its Subsidiaries shall use commercially reasonable efforts to prosecute all pending Patent applications within the Closing will set forth, a true and complete list of all material Intellectual Property Licenses. Except as set forth on Schedule 4.09(b), Sellers have provided Buyer in the Exploitation Territory for which it is an owner (or otherwise has rights to prosecute such Patents) consistent with true and complete copies of all such Intellectual Property Licenses. All such Intellectual Property Licenses are, to Sellers’ Knowledge, valid, binding and enforceable between standards in the applicable Seller and the other parties thereto, and Seller and, to Sellers’ Knowledge, such other parties are in compliance with the material terms and conditions of such Intellectual Property Licensespharmaceutical industry for similarly situated entities.
(c) To Sellers’ Knowledge, the conduct of the Business as currently conducted does not infringe, misappropriate, dilute or otherwise violateThe Borrower shall, and in shall cause each Subsidiary to: [*****] Raptor Pharmaceutical Corp. has requested confidential treatment of certain portions of this agreement which have been omitted and filed separately with the past three U.S. Securities and Exchange Commission pursuant to Rule 24b-2 under the Securities Exchange Act of 1934.
(3i) years has not infringed, misappropriated or otherwise violated, any take reasonable measures to protect the proprietary nature of material Intellectual Property rights and to maintain in confidence all trade secrets and confidential information compromising a part thereof;
(ii) not disclose and use commercially reasonable efforts to prevent any distribution or disclosure by others (including their employees and contractors) of any Third Party. Sellers have not received any notice item that Sellers’ use of the Transferred contains or embodies material Intellectual Property in the conduct of the Business as currently conducted infringes, misappropriates, dilutes or otherwise violates, or in the past three Property; and
(3iii) years has infringed, misappropriated or otherwise violated, any Intellectual Property Rights take reasonable physical and electronic security measures to prevent disclosure of any Third Party. No Proceedings are pending and no written notices have been received by Sellers during the past three (3) years (item that contains or earlier, if presently not resolved), in each case, alleging any infringement, misappropriation or other violation by Sellers of the Intellectual Property rights of any Third Party. Except as set forth in Schedule 4.09(c), to Sellers’ Knowledge, during the past three (3) years (or earlier, if presently not resolved) no Person has infringed, misappropriated, diluted or otherwise violated any of the Owned Intellectual Property or Transferred Technology, and no Seller has made or asserted any claim, demand or notice against any person or entity alleging any such infringement, misappropriation, dilution or other violation. There is no Proceeding pending or, to Sellers’ Knowledge, threatened, challenging a Seller’s ownership of any Owned Intellectual Property, or its right to use any Transferred Intellectual Property, or challenging the validity, registrability, or enforceability of any Registered Intellectual Property included in the Owned embodies material Intellectual Property.
(d) Sellers represent that they areThe Borrower and its Subsidiaries shall use commercially reasonable efforts to cause each individual associated with the filing and prosecution of the Patents material to the conduct of the business of the Borrower and its Subsidiaries to comply in all material respects with all applicable duties of candor and good faith in dealing with any Patent Office, each as applicable, the registrant of record including any duty to disclose to any Patent Office all information known by such individual to be material to patentability of each domain name as set forth such Patent, in Schedule 4.09(d) (collectively, the “Domain Names”)those jurisdictions where such duties exist.
(e) Sellers have taken commercially The Borrower shall furnish the Lender from time to time upon Lender's reasonable measures to protect written request therefor reasonably detailed statements and schedules further identifying and describing the confidentiality of all Trade Secrets included in the Owned Intellectual Property and no material Trade Secrets have been disclosed by Sellers such other materials evidencing or reports pertaining to any Person except pursuant to written non-disclosure agreements or other obligations of confidentiality, and, to Sellers’ Knowledge, there has not been a breach of any such agreement or obligation by any such Person.
(f) To Seller’s Knowledge, Sellers have obtained from each Person (including current and former employees and independent contractors) who has created or developed for or on behalf of Sellers any Owned Intellectual Property that is material to as the Business a written, present and, valid assignment of such Intellectual Property to a SellerLender may reasonably request.
(g) To Sellers’ Knowledge, in the past three (3) years, there has been no material unauthorized access to or material unauthorized use of any confidential or proprietary information or data that is both in Sellers’ possession or control and material to the Business.
(h) With respect to any material Software included within the Transferred Intellectual Property, to Sellers’ Knowledge (i) such Software is free from any material bugs, viruses or other malicious code, (ii) the Source Code for such Software has not been disclosed to any Third Party, and (iii) such Software does not contain, derive from or link to any open source Software in a manner that requires the disclosure of any proprietary Source Code, limits the ability to charge fees, or grants any license to any Third Party to make derivative works.
(i) Neither the execution, delivery or performance of this Agreement, nor the consummation of the transactions contemplated by the Ancillary Agreements will result in the material loss or impairment of any of the Owned Intellectual Property.
(j) All third-party code that is incorporated into the proprietary Software included in the Transferred Intellectual Property and that is critical to the operation of such Software is commercially available (each a “Critical IP License” and collectively “Critical IP Licenses”), and following Closing, Buyer will be able to procure a license for all such third-party code for (i) an aggregate amount during the one-year period immediately following the Closing that shall not exceed the amount reflected for such third-party code in the Unaudited Financial Statements by more than $200,000, and (ii) an aggregate amount during the twelve (12) months period following the initial one-year period immediately following Closing that shall not exceed the amount reflected for such third-party code in the Unaudited Financial Statements by more than $200,000; provided that any increases in license fees resulting from a volume increase, additional licenses or other change in the operation of Business post Closing shall not be breaches of this representation.
(k) Buyer and Sellers agree that the representations and warranties included in this Section 4.09 shall be the sole and exclusive representations and warranties of Sellers with respect to Intellectual Property matters in this Agreement.
Appears in 3 contracts
Samples: Loan Agreement (Raptor Pharmaceutical Corp), Loan Agreement (Raptor Pharmaceutical Corp), Loan Agreement (Raptor Pharmaceutical Corp)
Intellectual Property. (a) Schedule 4.09(aSubject to Sections 3.5(b) sets forth a true and complete list of 3.5(f), Sellers exclusively own, or validly Control, all (i) Registered Business Intellectual Property included in the Owned Intellectual Property, indicating for each item the registration or application number, the registration or application date, and the applicable filing jurisdiction and (ii) Owned including all Intellectual Property that is not registered but that is material to the operation of the Business. Sellers exclusively own allRights set forth on Schedule 2.2(a)(iii)), right, title and interest in all Owned Intellectual Property, each case free and clear of all Encumbrances Liens (other than Permitted EncumbrancesLiens). All Business Intellectual Property will, immediately subsequent to the Closing, be transferred to, and Controlled by, Buyer on substantially the same terms with which Sellers, immediately prior to the Closing, Controlled such Business Intellectual Property. For the avoidance of doubt, this Section 3.5(a) does not constitute a representation or warranty of Sellers are not bound by any outstanding judgmentrelating to infringement, injunction, order misappropriation or decree or any contractual obligation materially restricting the use by a Seller other violation of the Owned Intellectual Property, or materially restricting the licensing thereof to Property Rights of any Person. With respect to the Registered Intellectual Property included in the Owned Intellectual Property listed on Schedule 4.09(a).
(b) To Sellers’ Knowledge, (i) all such Registered no Seller has infringed, misappropriated or otherwise violated and (ii) no Seller is infringing, misappropriating or otherwise violating (including with respect to the discovery, development, clinical testing, manufacture, distribution, advertising, use, Exploitation or sale by any Seller of a Product or the Compound) the rights of any other Person with regard to any Seller’s possession or use of any Business Intellectual Property for the Business as presently conducted. To Sellers’ Knowledge, no other Person or Persons has infringed, misappropriated or otherwise violated or is subsisting andor are infringing, misappropriating or otherwise violating the Business Intellectual Property.
(c) No claims against any Seller are pending or, to Sellers’ Knowledge, valid and enforceable, threatened with regard to (i) the Control or use of any Business Intellectual Property; (ii) a Seller is the owner any actual or potential infringement, misappropriation or unauthorized use of record, and Business Intellectual Property; (iii) all maintenance fees and filings that are required to be made to maintain such Registered any actual or potential infringement, misappropriation or unauthorized use of any Third Party’s Intellectual Property Rights with respect to any Business Intellectual Property or the Business; or (iv) the validity or enforceability of any Business Intellectual Property. Sellers have been timely made the right to bring actions for infringement, including all rights to recover damages for past infringement (taking into account any to the extent permitted by applicable grace periodsLaw), of all Business Intellectual Property.
(bd) Schedule 4.09(b2.2(a)(iii) sets forth, or at as of the Closing will set forthdate hereof, a true complete and complete accurate list of all Intellectual Property Licenses. Except as set forth on Schedule 4.09(bpatents and applications therefor, registered trademarks and applications therefor (if any), domain name registrations (if any), copyright registrations (if any) and all invention disclosures, that, in each case, are Controlled by any Seller and related to the Business, a Product or the Compound. The patent applications listed in Schedule 2.2(a)(iii) that are owned by any Seller are (and such applications that are otherwise Controlled by Sellers have provided Buyer with true and complete copies of all such Intellectual Property Licenses. All such Intellectual Property Licenses are, to Sellers’ Knowledge) pending and have not been abandoned and have been and continue to be timely prosecuted. All patents, validregistered trademarks and applications therefor owned by Sellers that are related to the Business, binding a Product or the Compound have been (and enforceable between all such patents, registered trademarks and applications otherwise Controlled by Sellers have been, to Sellers’ Knowledge) duly registered or filed with or issued by each appropriate Governmental Authority in the applicable Seller and the other parties theretojurisdiction indicated in Schedule 2.2(a)(iii), all related necessary affidavits of continuing use have been (or, with respect to licenses, to Sellers’ Knowledge have been) timely filed, and Seller all related necessary maintenance fees have been (or, with respect to licenses, to Sellers’ Knowledge have been) timely paid to continue all such rights in effect. None of the patents listed in Schedule 2.2(a)(iii) that are owned by Sellers have (and no such patents that are otherwise Controlled by Sellers have, to Sellers’ Knowledge) expired, been disclaimed, in whole or in part, been declared invalid, in whole or in part, or held to be unenforceable by any Governmental Authority. None of the trademarks or trademark applications listed in Schedule 2.2(a)(iii) that are owned by Sellers are (and no such trademarks or trademark applications that are otherwise Controlled by Sellers are, to Sellers’ Knowledge) involved in or the subject of any ongoing oppositions, cancellations or other proceedings. None of the patents or patent applications listed in Schedule 2.2(a)(iii) that are owned by Sellers are (and no such patents or patent applications that are otherwise Controlled by Sellers are, to Sellers’ Knowledge) involved in or the subject of any material ongoing interferences, oppositions, reissues, reexaminations or other proceedings, including ex parte (other than ex parte proceedings in connection with such patent applications) and post-grant proceedings, in the United States Patent and Trademark Office or in any foreign patent office or similar administrative agency. Each of the patents and patent applications listed in Schedule 2.2(a)(iii) that are owned by Sellers properly identifies (and, to Sellers’ Knowledge, such other parties are patents and applications otherwise Controlled by Sellers properly identify) each and every inventor of the claims thereof as determined in compliance accordance with the material terms and conditions of such Intellectual Property Licenses.
(c) To Sellers’ Knowledge, the conduct Laws of the Business as currently conducted does not infringe, misappropriate, dilute jurisdiction in which such patent is issued or otherwise violate, such patent application is pending. Each inventor named on the patents and patent applications listed in the past three (3Schedule 2.2(a)(iii) years has not infringed, misappropriated or otherwise violated, any Intellectual Property rights of any Third Party. Sellers have not received any notice that Sellers’ use of the Transferred Intellectual Property in the conduct of the Business as currently conducted infringes, misappropriates, dilutes or otherwise violates, or in the past three (3) years has infringed, misappropriated or otherwise violated, any Intellectual Property Rights of any Third Party. No Proceedings are pending and no written notices have been received owned by Sellers during the past three has executed (3) years (or earlier, if presently not resolved), in each case, alleging any infringement, misappropriation or other violation by Sellers of the Intellectual Property rights of any Third Party. Except as set forth in Schedule 4.09(c)and, to Sellers’ Knowledge, during such inventors named on such patents and applications that are otherwise Controlled by Sellers and material to the past three (3Business, a Product or the Compound have executed) years (an agreement assigning his, her or earlierits entire right, if presently not resolved) title and interest in and to such patent or patent application, and the inventions embodied and claimed therein, to Sellers, or in the case of licensed Patents, to the appropriate owners. To Sellers’ Knowledge, no Person such inventor has infringed, misappropriated, diluted any contractual or other obligation that would preclude any such assignment or otherwise violated conflict with the obligations of such inventor to Sellers under such agreement with any Seller.
(e) No current or former director, officer, employee, contractor or consultant of any Seller owns any rights in or to any Business Intellectual Property. All current and former directors, officers, employees, contractors and consultants of any Seller who contributed to the Owned discovery, creation or development of any Business Intellectual Property did so (i) within the scope of his or Transferred Technologyher employment such that it constituted a work made for hire and all Business Intellectual Property arising therefrom became the exclusive property of Sellers or (ii) pursuant to a written agreement assigning all of his or her rights in Business Intellectual Property to Sellers. No current or former directors, and no officers, employees, contractors or consultants of any Seller has made or asserted any claim, demand or notice against any person or entity alleging any such infringement, misappropriation, dilution or other violation. There is no Proceeding pending or, to Sellers’ Knowledge, threatened, challenging a Seller’s ownership threatened to make any claim or challenge against any Seller or any Affiliates of any Owned Intellectual PropertySeller in connection with their contribution to the discovery, creation or its right to use any Transferred Intellectual Property, or challenging the validity, registrability, or enforceability development of any Registered Intellectual Property included in the Owned Business Intellectual Property.
(df) Sellers represent that they areSchedule 3.5(f) sets forth a complete and accurate list as of the date hereof of all options, each as applicablerights, licenses or interests of any kind relating to any Business Intellectual Property (i) granted to any Seller by any other Person (other than software licenses for commercially available off the registrant shelf software and except pursuant to employee proprietary inventions agreements (or similar employee agreements)), or (ii) granted by any Seller to any other Person (including any obligations of record such other Person to make any fixed or contingent payments, including royalty payments). All material obligations for payment of each domain name as set forth monies currently due and payable by any Seller and other material obligations in Schedule 4.09(d) (collectivelyconnection with such options, the “Domain Names”)rights, licenses or interests have been satisfied in a timely manner.
(eg) Sellers have used reasonable efforts to make all filings with Governmental Authorities and obtain all grants and registrations as may be reasonably necessary or appropriate to preserve and protect the Business Intellectual Property.
(h) Sellers have used reasonable efforts and taken commercially reasonable measures steps designed to protect the confidentiality of all maintain in confidence its Trade Secrets included and other confidential information acquired, conceived, developed, collected, compiled, generated, reduced to practice or otherwise made or used in connection with the Owned Intellectual Property Business or related to a Product or the Compound, including through the development of a policy for the protection of intellectual property and no material periodic training for all employees of each Seller on the implementation of such policy; requiring all employees of each Seller to execute confidentiality agreements with respect to intellectual property developed for or obtained from Sellers; and entering into licenses and Contracts that generally require licensees, contractors and other Third Parties with access to the Trade Secrets have been disclosed by Sellers to any Person except pursuant to written non-disclosure agreements or other obligations of confidentiality, and, confidential information to Sellers’ Knowledge, there has not been a breach of any keep such agreement Trade Secrets or obligation by any such Personother confidential information confidential.
(fi) To Seller’s KnowledgeThe execution and delivery of this Agreement and the Related Documents by Sellers do not, and the consummation of the Contemplated Transactions and compliance by Sellers have obtained from each Person with the provisions of this Agreement and any Related Document will not, conflict with, or result in any violation or breach of, or default (including current and former employees and independent contractorswith or without notice or lapse of time, or both) who has created under, or developed for give rise to a right of, or on behalf result in, termination, cancellation or acceleration of Sellers any Owned right or obligation or to the loss of a benefit under, or result in the creation of any Lien in or upon or the transfer of, any Business Intellectual Property that is material to the Business Compound, a written, present and, valid assignment of such Intellectual Property to a Seller.
(g) To Sellers’ Knowledge, in the past three (3) years, there has been no material unauthorized access to Product or material unauthorized use of any confidential or proprietary information or data that is both in Sellers’ possession or control and material to the Business.
(h) With respect to any material Software included within the Transferred Intellectual Property, to Sellers’ Knowledge (i) such Software is free from any material bugs, viruses or other malicious code, (ii) the Source Code for such Software has not been disclosed to any Third Party, and (iii) such Software does not contain, derive from or link to any open source Software in a manner that requires the disclosure of any proprietary Source Code, limits the ability to charge fees, or grants any license to any Third Party to make derivative works.
(i) Neither the execution, delivery or performance of this Agreement, nor the consummation of the transactions contemplated by the Ancillary Agreements will result in the material loss or impairment of any of the Owned Intellectual Property.
(j) All third-party code that is incorporated into the proprietary Software included in the Transferred Intellectual Property and that is critical to the operation of such Software is commercially available (each a “Critical IP License” and collectively “Critical IP Licenses”), and following Closing, Buyer will be able to procure a license for all such third-party code for (i) an aggregate amount during the one-year period immediately following the Closing that shall not exceed the amount reflected for such third-party code in the Unaudited Financial Statements by more than $200,000, and (ii) an aggregate amount during the twelve (12) months period following the initial one-year period immediately following Closing that shall not exceed the amount reflected for such third-party code in the Unaudited Financial Statements by more than $200,000; provided that any increases in license fees resulting from a volume increase, additional licenses or other change in the operation of Business post Closing shall not be breaches of this representation.
(k) Buyer and Sellers agree that the representations and warranties included in this Section 4.09 shall be the sole and exclusive representations and warranties of Sellers with respect to Intellectual Property matters in this Agreement.
Appears in 3 contracts
Samples: Asset Purchase Agreement (Avadel Pharmaceuticals PLC), Asset Purchase Agreement (Cerecor Inc.), Asset Purchase Agreement (Cerecor Inc.)
Intellectual Property. Buyer and the Buyer Subsidiaries exclusively own, or have a valid license or other valid right to use, all material Intellectual Property as used in their business as presently conducted; it being understood that the foregoing shall not be construed to expand or diminish the scope of the non-infringement representations and warranties that follow in this Section 4.14. No Actions, suits or other proceedings are pending or, to the Knowledge of Buyer, threatened that Buyer or any of the Buyer Subsidiaries is infringing, misappropriating or otherwise violating the rights of any Person with regard to any Intellectual Property. To the Knowledge of Buyer, no Person is infringing, misappropriating or otherwise violating the rights of Buyer or any of the Buyer Subsidiaries with respect to any Intellectual Property owned or purported to be owned by Buyer or any of the Buyer Subsidiaries (collectively the “Buyer-Owned Intellectual Property”). To the Knowledge of Buyer: (a) Schedule 4.09(a) sets forth a true and complete list of all no circumstances exist which could reasonably be expected to give rise to any (i) Registered Action that challenges the rights of Buyer or any of the Buyer Subsidiaries with respect to the validity or enforceability of the Buyer-Owned Intellectual Property included in the Owned Intellectual Property, indicating for each item the registration or application number, the registration or application date, and the applicable filing jurisdiction and (ii) Owned Intellectual Property that is not registered but that is material to the operation claim of the Business. Sellers exclusively own allinfringement, right, title and interest in all Owned Intellectual Property, free and clear of all Encumbrances (other than Permitted Encumbrances). Sellers are not bound by any outstanding judgment, injunction, order or decree or any contractual obligation materially restricting the use by a Seller of the Owned Intellectual Propertymisappropriation, or materially restricting the licensing thereof to any Person. With respect to the Registered Intellectual Property included in the Owned Intellectual Property listed on Schedule 4.09(a), (i) all such Registered Intellectual Property is subsisting and, to Sellers’ Knowledge, valid and enforceable, (ii) a Seller is the owner of record, and (iii) all maintenance fees and filings that are required to be made to maintain such Registered Intellectual Property have been timely made (taking into account any applicable grace periods).
(b) Schedule 4.09(b) sets forth, or at the Closing will set forth, a true and complete list of all Intellectual Property Licenses. Except as set forth on Schedule 4.09(b), Sellers have provided Buyer with true and complete copies of all such Intellectual Property Licenses. All such Intellectual Property Licenses are, to Sellers’ Knowledge, valid, binding and enforceable between the applicable Seller and the other parties thereto, and Seller and, to Sellers’ Knowledge, such other parties are in compliance with the material terms and conditions of such Intellectual Property Licenses.
(c) To Sellers’ Knowledge, the conduct of the Business as currently conducted does not infringe, misappropriate, dilute or otherwise violate, and in the past three (3) years has not infringed, misappropriated or otherwise violated, any Intellectual Property rights of any Third Party. Sellers have not received any notice that Sellers’ use of the Transferred Intellectual Property in the conduct of the Business as currently conducted infringes, misappropriates, dilutes or otherwise violates, or in the past three (3) years has infringed, misappropriated or otherwise violated, any Intellectual Property Rights of any Third Party. No Proceedings are pending and no written notices have been received by Sellers during the past three (3) years (or earlier, if presently not resolved), in each case, alleging any infringement, misappropriation or other violation by Sellers of the Intellectual Property rights of any Third Party. Except as set forth in Schedule 4.09(c), to Sellers’ Knowledge, during the past three (3) years (or earlier, if presently not resolved) no Person has infringed, misappropriated, diluted or otherwise violated any of the Owned Intellectual Property or Transferred Technology, and no Seller has made or asserted any claim, demand or notice against any person or entity alleging any such infringement, misappropriation, dilution or other violation. There is no Proceeding pending or, to Sellers’ Knowledge, threatened, challenging a Seller’s ownership of any Owned Intellectual Property, or its right to use any Transferred Intellectual Property, or challenging the validity, registrability, or enforceability of any Registered Intellectual Property included in the Owned Intellectual Property.
(d) Sellers represent that they are, each as applicable, the registrant of record of each domain name as set forth in Schedule 4.09(d) (collectively, the “Domain Names”).
(e) Sellers have taken commercially reasonable measures to protect the confidentiality of all Trade Secrets included in the Owned Intellectual Property and no material Trade Secrets have been disclosed by Sellers to any Person except pursuant to written non-disclosure agreements or other obligations of confidentiality, and, to Sellers’ Knowledge, there has not been a breach of any such agreement or obligation by any such Person.
(f) To Seller’s Knowledge, Sellers have obtained from each Person (including current and former employees and independent contractors) who has created or developed for or on behalf of Sellers any Owned Intellectual Property that is material to the Business a written, present and, valid assignment of such Intellectual Property to a Seller.
(g) To Sellers’ Knowledge, in the past three (3) years, there has been no material unauthorized access to or material unauthorized use of any confidential or proprietary information or data that is both in Sellers’ possession or control and material to the Business.
(h) With respect to any material Software included within the Transferred Intellectual Property, to Sellers’ Knowledge (i) such Software is free from any material bugs, viruses or other malicious code, (ii) the Source Code for such Software has not been disclosed to any Third Party, ; and (iiib) such Software does not contain, derive from or link to any open source Software in a manner that requires the disclosure of any proprietary Source Code, limits the ability to charge fees, or grants any license to any Third Party to make derivative works.
(i) Neither the execution, delivery or performance of this Agreement, nor the consummation of the transactions contemplated by the Ancillary Agreements this Agreement will result in the material loss not give rise to any claim by any Person to a right to own, purchase, transfer, use, alter, impair, extinguish or impairment of restrict any of the Buyer-Owned Intellectual Property.
(j) All third-party code that is incorporated into the proprietary Software included in the Transferred Property or Intellectual Property and that is critical licensed to the operation of such Software is commercially available (each a “Critical IP License” and collectively “Critical IP Licenses”), and following Closing, Buyer will be able to procure a license for all such third-party code for (i) an aggregate amount during the one-year period immediately following the Closing that shall not exceed the amount reflected for such third-party code in the Unaudited Financial Statements by more than $200,000, and (ii) an aggregate amount during the twelve (12) months period following the initial one-year period immediately following Closing that shall not exceed the amount reflected for such third-party code in the Unaudited Financial Statements by more than $200,000; provided that or any increases in license fees resulting from a volume increase, additional licenses or other change in the operation of Business post Closing shall not be breaches of this representationBuyer Subsidiary.
(k) Buyer and Sellers agree that the representations and warranties included in this Section 4.09 shall be the sole and exclusive representations and warranties of Sellers with respect to Intellectual Property matters in this Agreement.
Appears in 3 contracts
Samples: Merger Agreement (Carolina Financial Corp), Merger Agreement (Carolina Financial Corp), Merger Agreement (United Bankshares Inc/Wv)
Intellectual Property. (a) Schedule 4.09(aNone of the Seller Owned Intellectual Property has been registered or filed with the U.S. Patent and Trademark Office or the U.S. Copyright Office.
(b) Schedules 1.01(m) and 1.01(n) set forth a complete and accurate list and description (showing in each case any owner, licensor or licensee) of all Software owned by, licensed to or used by either Seller in the conduct of the Master Servicing Business, except for such mass market Software that is commercially available and subject to “shrink-wrap” or “click-through” license agreements.
(c) Section 4.09(c) of the Seller Disclosure Schedules sets forth a true complete and complete accurate list and description of all (i) Registered material Assumed Contracts that relate to any Seller Intellectual Property included used in the Owned Intellectual Property, indicating for each item the registration or application number, the registration or application date, and the applicable filing jurisdiction and (ii) Owned Intellectual Property that is not registered but that is material to the operation conduct of the Master Servicing Business. .
(d) The Sellers exclusively own all, the entire right, title and interest in all Owned Intellectual Property, free and clear to each item of all Encumbrances (other than Permitted Encumbrances). Sellers are not bound by any outstanding judgment, injunction, order or decree or any contractual obligation materially restricting the use by a Seller of the Owned Intellectual Property, or materially restricting the licensing thereof to any Person. With respect to the Registered Intellectual Property included in the Owned Intellectual Property listed on Schedule 4.09(a), (i) all such Registered Intellectual Property is subsisting and, to Sellers’ Knowledge, valid and enforceable, (ii) a Seller is the owner of record, and (iii) all maintenance fees and filings that are required to be made to maintain such Registered Intellectual Property have been timely made (taking into account any applicable grace periods).
(b) Schedule 4.09(b) sets forth, or at the Closing will set forth, a true and complete list of all Intellectual Property Licenses. Except as set forth on Schedule 4.09(b), Sellers have provided Buyer with true and complete copies of all such Intellectual Property Licenses. All such Intellectual Property Licenses are, to Sellers’ Knowledge, valid, binding and enforceable between the applicable Seller and the other parties thereto, and Seller and, to Sellers’ Knowledge, such other parties are in compliance with the material terms and conditions of such Intellectual Property Licenses.
(c) To Sellers’ Knowledge, the conduct of the Business as currently conducted does not infringe, misappropriate, dilute or otherwise violate, and in the past three (3) years has not infringed, misappropriated or otherwise violated, any Intellectual Property rights of any Third Party. Sellers have not received any notice that Sellers’ use of the Transferred Intellectual Property in the conduct of the Business as currently conducted infringes, misappropriates, dilutes or otherwise violates, or in the past three (3) years has infringed, misappropriated or otherwise violated, any Intellectual Property Rights of any Third Party. No Proceedings are pending and no written notices have been received by Sellers during the past three (3) years (or earlier, if presently not resolved), in each case, alleging any infringement, misappropriation or other violation by Sellers of the Intellectual Property rights of any Third Party. Except as set forth in Schedule 4.09(c), to Sellers’ Knowledge, during the past three (3) years (or earlier, if presently not resolved) no Person has infringed, misappropriated, diluted or otherwise violated any of the Owned Intellectual Property or Transferred Technology, and no Seller has made or asserted any claim, demand or notice against any person or entity alleging any such infringement, misappropriation, dilution or other violation. There is no Proceeding pending or, to Sellers’ Knowledge, threatened, challenging a Seller’s ownership of any Owned Intellectual Property, or its right to use any Transferred Intellectual Property, or challenging the validity, registrability, or enforceability of any Registered Intellectual Property included in the Owned Intellectual Property.
(d) Sellers represent that they are, each as applicable, the registrant of record of each domain name as set forth in Schedule 4.09(d) (collectively, the “Domain Names”).
(e) Sellers have taken commercially reasonable measures to protect the confidentiality of all Trade Secrets included in the Owned Intellectual Property and no material Trade Secrets have been disclosed by Sellers to any Person except pursuant to written non-disclosure agreements or other obligations of confidentiality, and, to Sellers’ Knowledge, there has not been a breach of any such agreement or obligation by any such Person.
(f) To Seller’s Knowledge, Sellers have obtained from each Person (including current and former employees and independent contractors) who has created or developed for or on behalf of Sellers any Owned Intellectual Property that is material to the Master Servicing Business as presently conducted, free and clear of all Liens. The Sellers have a written, present and, valid assignment of such right to use the Seller Licensed Intellectual Property in the conduct of the Master Servicing Business. To the Sellers’ Knowledge, the ownership and use of the Seller Owned Intellectual Property by the Sellers and the operation of the Master Servicing Business, including their provision of products and services, does not infringe, dilute, misappropriate or otherwise violate the Intellectual Property rights of any other Person, nor has any Seller received any written communications alleging that it has infringed, diluted, misappropriated or violated the Intellectual Property rights of any other Person. Upon consummation of the Transactions, Purchaser will be entitled to a Sellercontinue to use all Seller Intellectual Property consistent with the Sellers’ current practice without the payment of any fees, licenses or other payments (other than ongoing payments required under any Contract for such Seller Intellectual Property and described on Section 4.09(d) of the Seller Disclosure Schedules).
(ge) To Sellers’ Knowledge, in no other Person is infringing, diluting, misappropriating or violating, nor has any Seller sent any communications alleging that any Person has infringed, diluted, misappropriated or violated, any Intellectual Property rights of the past three (3) years, there has been no material unauthorized access to or material unauthorized use of any confidential or proprietary information or data that is both in Sellers’ possession or control and material to the Business.
(hf) With respect The Sellers have taken all reasonable actions to any material Software included within the Transferred Intellectual Property, to Sellers’ Knowledge protect and maintain (i) such Software is free from any material bugs, viruses or other malicious code, all Seller Owned Intellectual Property and (ii) the Source Code for such Software has not been disclosed to any Third Partysecurity and integrity of the IT Platform, and (iii) such Software does not contain, derive from or link to any open source Software in a manner that requires the disclosure case of any proprietary Source Code, limits the ability to charge fees, or grants any license to any Third Party to make derivative works.
each of clauses (i) Neither the execution, delivery or performance of this Agreement, nor the consummation of the transactions contemplated by the Ancillary Agreements will result in the material loss or impairment of any of the Owned Intellectual Property.
(j) All third-party code that is incorporated into the proprietary Software included in the Transferred Intellectual Property and that is critical to the operation of such Software is commercially available (each a “Critical IP License” and collectively “Critical IP Licenses”), and following Closing, Buyer will be able to procure a license for all such third-party code for (i) an aggregate amount during the one-year period immediately following the Closing that shall not exceed the amount reflected for such third-party code in the Unaudited Financial Statements by more than $200,000, and (ii) an aggregate amount during to protect the twelve (12) months period following same against unauthorized use, modification, or access thereto, or the initial one-year period immediately following Closing that shall not exceed the amount reflected for such third-party code in the Unaudited Financial Statements by more than $200,000; provided that introduction of any increases in license fees resulting from a volume increase, additional licenses viruses or other change unauthorized or damaging or corrupting code or elements. The IT Platform operates and performs in all material respects in accordance with its applicable specifications and documentation and as required by the operation of Sellers in connection with the Master Servicing Business post Closing shall not be breaches of this representationas presently conducted. Each Seller has implemented reasonable backup and disaster recovery technology consistent with industry standard practices.
(k) Buyer and Sellers agree that the representations and warranties included in this Section 4.09 shall be the sole and exclusive representations and warranties of Sellers with respect to Intellectual Property matters in this Agreement.
Appears in 3 contracts
Samples: Asset Purchase Agreement, Residential Servicing Asset Purchase Agreement (Nationstar Mortgage Holdings Inc.), Residential Servicing Asset Purchase Agreement (Nationstar Mortgage LLC)
Intellectual Property. (a) Section 3.10(a) of the Schedule 4.09(a) of Exceptions sets forth a true complete and complete accurate list of all Intellectual Property owned by the Company as of the date hereof that is registered, recorded or filed in the name of the Company with a Governmental Authority and all applications therefor, and all material unregistered trademarks or service marks owned by the Company and used by the Company in the operation of the Business (“Company Registered IP”). Each item of Company Registered IP is (i) Registered Intellectual Property included in the Owned Intellectual Propertycompliance with all applicable legal requirements and is current with its filing, indicating for each item the registration or application numberand maintenance requirements, the registration or application date, and the applicable filing jurisdiction and (ii) Owned to the knowledge of the Sellers, valid and enforceable.
(b) The Company either exclusively owns, free and clear of all Liens (other than Permitted Liens), or has permission to use pursuant to a valid written agreement or, to the knowledge of the Sellers, has other valid rights to use, all Intellectual Property used or held for use in the operation of the Business as presently conducted (collectively, “Company IP Rights”). The Company IP Rights comprise all of the Intellectual Property that is not registered but that is material to used in or necessary for the operation of the BusinessBusiness as currently conducted. Sellers exclusively own allNo Person has asserted or, to the knowledge of the Sellers, threatened to assert any claims (i) contesting the right of the Company to use, transfer or license any Company IP Rights or any products, processes, services or materials covered thereby in any manner, or (ii) challenging the ownership, validity or enforceability of any Company IP Rights.
(c) To the knowledge of the Sellers, the operation of the Business has not and does not infringe or misappropriate any Intellectual Property of any Person, and has not and does not violate the rights of any Person (including the right to privacy or publicity) or constitute unfair competition or trade practices under any Laws. To the knowledge of the Sellers, no Person has infringed or misappropriated or is infringing or misappropriating any Company IP Rights.
(d) Following the Closing, the Company will be permitted to exercise all of the rights under the Company IP Rights to the same extent the Company would have been able to had the transactions contemplated by this Agreement not occurred. All Company IP Rights are, and immediately after the Closing Date, will be, fully transferable, alienable or licensable by the Company without restriction and without payment of any kind to any Person, except as a result of any independent agreements or obligations of Purchaser. The Company has not granted any exclusive licenses or rights of any kind in the Company IP Rights to any Person, and the Company does not hold any rights to Company IP Rights jointly with any third Person.
(e) The Company has not entered into any Contract to settle or resolve any action, claim or dispute with respect to any Intellectual Property. No Company IP Right is subject to any proceeding or outstanding decree, Order, judgment, Contract or stipulation that restricts in any manner the use, transfer or licensing thereof by the Company.
(f) The Company has taken all actions reasonably necessary to maintain and protect all Company IP Rights, including all confidential and proprietary information and trade secrets pertaining thereto. All agents, employees and independent consultants of the Company employed or engaged in the five (5) years prior to the date hereof who have participated in or contributed to the development of any Intellectual Property for the Company have executed and delivered to the Company a written assignment agreement that vests in the Company exclusive ownership of all right, title and interest in all Owned and to any such Intellectual Property, free and clear of all Encumbrances (other than Permitted Encumbrances). Sellers are not bound by any outstanding judgment, injunction, order or decree or any contractual obligation materially restricting the use by a Seller of the Owned Intellectual Property, or materially restricting the licensing thereof to any Person. With respect to the Registered Intellectual Property included in the Owned Intellectual Property listed on Schedule 4.09(a), (i) all such Registered Intellectual Property is subsisting and, to Sellers’ Knowledge, valid and enforceable, (ii) a Seller is the owner of record, and (iii) all maintenance fees and filings that are required to be made to maintain such Registered Intellectual Property have been timely made (taking into account any applicable grace periods).
(bg) Schedule 4.09(b) sets forth, or at The information technology systems used by the Closing will set forth, a true and complete list of all Intellectual Property Licenses. Except as set forth on Schedule 4.09(b), Sellers have provided Buyer with true and complete copies of all such Intellectual Property Licenses. All such Intellectual Property Licenses are, to Sellers’ Knowledge, valid, binding and enforceable between the applicable Seller and the other parties thereto, and Seller and, to Sellers’ Knowledge, such other parties are Company in compliance connection with the operation of the Business (“IT Systems”) as a whole, are adequate and sufficient in all material terms and conditions of such Intellectual Property Licenses.
(c) To Sellers’ Knowledge, respects for the conduct of the Business as currently conducted does not infringe, misappropriate, dilute or otherwise violate, and in the past three (3) years conducted. The Company has not infringed, misappropriated or otherwise violated, any Intellectual Property rights of any Third Party. Sellers have not received any notice that Sellers’ use of the Transferred Intellectual Property in the conduct of the Business as currently conducted infringes, misappropriates, dilutes or otherwise violates, or in the past three (3) years has infringed, misappropriated or otherwise violated, any Intellectual Property Rights of any Third Party. No Proceedings are pending and no written notices have been received by Sellers during the past three (3) years (or earlier, if presently not resolved), in each case, alleging any infringement, misappropriation or other violation by Sellers of the Intellectual Property rights of any Third Party. Except as set forth in Schedule 4.09(c), to Sellers’ Knowledge, during the past three (3) years (or earlier, if presently not resolved) no Person has infringed, misappropriated, diluted or otherwise violated any of the Owned Intellectual Property or Transferred Technology, and no Seller has made or asserted any claim, demand or notice against any person or entity alleging any such infringement, misappropriation, dilution or other violation. There is no Proceeding pending or, to Sellers’ Knowledge, threatened, challenging a Seller’s ownership of any Owned Intellectual Property, or its right to use any Transferred Intellectual Property, or challenging the validity, registrability, or enforceability of any Registered Intellectual Property included in the Owned Intellectual Property.
(d) Sellers represent that they are, each as applicable, the registrant of record of each domain name as set forth in Schedule 4.09(d) (collectively, the “Domain Names”).
(e) Sellers have taken commercially reasonable measures steps consistent with industry practice to protect the confidentiality of IT Systems from unauthorized access, use and damage. The IT Systems have not suffered any material failures or defects and have functioned consistently and accurately in all Trade Secrets included in the Owned Intellectual Property and no material Trade Secrets have been disclosed by Sellers to any Person except pursuant to written non-disclosure agreements or other obligations of confidentiality, and, to Sellers’ Knowledge, there has not been a breach of any such agreement or obligation by any such Person.
(f) To Seller’s Knowledge, Sellers have obtained from each Person (including current and former employees and independent contractors) who has created or developed for or on behalf of Sellers any Owned Intellectual Property that is material to the Business a written, present and, valid assignment of such Intellectual Property to a Seller.
(g) To Sellers’ Knowledge, in the past three (3) years, there has been no material unauthorized access to or material unauthorized use of any confidential or proprietary information or data that is both in Sellers’ possession or control and material to the Businessrespects.
(h) With respect to No software owned by the Company incorporates any material Software included within the Transferred Intellectual PropertyPublic Software. For purposes of this Agreement, to Sellers’ Knowledge “Public Software” means any software that contains, or is derived in any manner from, in whole or in part, any software that is distributed as freeware, shareware, open source software (e.g., Linux) or similar licensing or distribution models that (i) such Software is free from any material bugs, viruses requires the licensing or other malicious codedistribution of source code to licensees, (ii) prohibits or limits the Source Code for such Software has not been disclosed to receipt of consideration in connection with sublicensing or distributing any Third Partysoftware, and (iii) such Software does not containexcept as specifically required to be permitted by applicable Law, derive from allows any Person to decompile, disassemble or link otherwise reverse-engineer any software, or (iv) requires the licensing of any software to any open other Person for the purpose of making derivative works. No software owned by the Company has been provided or disclosed in source Software in a manner that requires the disclosure of any proprietary Source Code, limits the ability to charge fees, or grants any license code form to any Third Party to make derivative works.
Person (i) Neither the executionincluding without limitation, delivery or performance of this Agreementany escrow agents, nor the consummation employees and officers of the transactions contemplated by Company). To the Ancillary Agreements will result in extent the material loss Company has provided or impairment of disclosed any of the Owned Intellectual Property.
(j) All third-party code that is incorporated into such source code, such provision or disclosure has been pursuant to a written confidentiality agreement adequate to protect the proprietary Software included in the Transferred Intellectual Property and that is critical to the operation confidential nature of such Software is commercially available (each a “Critical IP License” and collectively “Critical IP Licenses”), and following Closing, Buyer will be able to procure a license for all such third-party code for (i) an aggregate amount during the one-year period immediately following the Closing that shall not exceed the amount reflected for such third-party code in the Unaudited Financial Statements by more than $200,000, and (ii) an aggregate amount during the twelve (12) months period following the initial one-year period immediately following Closing that shall not exceed the amount reflected for such third-party code in the Unaudited Financial Statements by more than $200,000; provided that any increases in license fees resulting from a volume increase, additional licenses or other change in the operation of Business post Closing shall not be breaches of this representationsource code.
(k) Buyer and Sellers agree that the representations and warranties included in this Section 4.09 shall be the sole and exclusive representations and warranties of Sellers with respect to Intellectual Property matters in this Agreement.
Appears in 3 contracts
Samples: Stock Purchase Agreement (Intercloud Systems, Inc.), Stock Purchase Agreement (Genesis Group Holdings Inc), Stock Purchase Agreement (Genesis Group Holdings Inc)
Intellectual Property. (a) Other than commercially available off-the-shelf software, Schedule 4.09(a2.18(a) sets forth a true and complete list of all (i) Registered Intellectual Property included in the Owned Intellectual Property, indicating for each item the registration or application number, the registration or application date, and the applicable filing jurisdiction and (ii) Owned Intellectual Property that is not registered but that is material to licensed by the operation Company and used in the conduct of the BusinessBusiness (the “Licensed Intellectual Property”) and the names of the licensors of such Licensed Intellectual Property. Sellers exclusively own allExcept as set forth in Schedule 2.18(a), rightthe Company has no obligation to compensate any Person for the license of any Licensed Intellectual Property. The Company has not granted to any Person any license, title option or other rights to use any of the Licensed Intellectual Property, whether or not requiring the payment of royalties. No license for any Licensed Intellectual Property will terminate by reason of the execution, delivery and interest in all Owned performance of this Agreement or any Operative Agreement or the consummation of the transactions contemplated hereby and thereby. The Company has such rights to use the Licensed Intellectual Property, free and clear of all Encumbrances (other than Permitted Encumbrances). Sellers Liens, as are not bound by any outstanding judgment, injunction, order or decree or any contractual obligation materially restricting necessary in connection with the use by a Seller conduct of the Owned Intellectual Property, or materially restricting the licensing thereof to any Person. With respect to the Registered Intellectual Property included Business in the Owned Intellectual Property listed on Schedule 4.09(a), (i) all such Registered Intellectual Property is subsisting and, to Sellers’ Knowledge, valid and enforceable, (ii) a Seller is the owner of record, and (iii) all maintenance fees and filings that are required to be made to maintain such Registered Intellectual Property have been timely made (taking into account any applicable grace periods)ordinary course consistent with past practice.
(b) Schedule 4.09(b2.18(b) sets forth, or at the Closing will set forth, a true and complete list of forth (i) all material Intellectual Property Licensesowned by the Company and used in the conduct of the Business (the “Owned Intellectual Property”) and (ii) the Company’s existing registrations, and applications for registration, for or with respect to any of the Owned Intellectual Property. The Company has taken reasonable steps to maintain its confidential information. To the Knowledge of the Seller Group, the use by the Company of its Owned Intellectual Property does not infringe upon or otherwise violate the rights of any other Person in or to such Owned Intellectual Property. The Company has not granted to any Person any license, option or other rights to use any Owned Intellectual Property, whether or not requiring the payment of royalties.
(c) Except as set forth on Schedule 4.09(b2.18(c), Sellers have provided Buyer with true and complete copies there are no pending or, to the Knowledge of all such the Seller Group, threatened Actions by any Person (i) relating to the Company’s use of any Licensed Intellectual Property Licenses. All such or Owned Intellectual Property Licenses areor (ii) claiming that such Person has any ownership of, right to Sellers’ Knowledge, valid, binding and enforceable between the applicable Seller use or other rights with respect to any Licensed Intellectual Property or Owned Intellectual Property. The Licensed Intellectual Property and the other parties thereto, and Seller and, to Sellers’ Knowledge, such other parties are in compliance with the material terms and conditions of such Owned Intellectual Property Licenses.
(c) To Sellers’ Knowledge, constitute all of the Intellectual Property necessary for the conduct of the Business as currently conducted does not infringe, misappropriate, dilute or otherwise violate, and in the ordinary course consistent with past three (3) years has not infringed, misappropriated or otherwise violated, any Intellectual Property rights of any Third Party. Sellers have not received any notice that Sellers’ use of the Transferred Intellectual Property in the conduct of the Business as currently conducted infringes, misappropriates, dilutes or otherwise violates, or in the past three (3) years has infringed, misappropriated or otherwise violated, any Intellectual Property Rights of any Third Party. No Proceedings are pending and no written notices have been received by Sellers during the past three (3) years (or earlier, if presently not resolved), in each case, alleging any infringement, misappropriation or other violation by Sellers of the Intellectual Property rights of any Third Party. Except as set forth in Schedule 4.09(c), to Sellers’ Knowledge, during the past three (3) years (or earlier, if presently not resolved) no Person has infringed, misappropriated, diluted or otherwise violated any of the Owned Intellectual Property or Transferred Technology, and no Seller has made or asserted any claim, demand or notice against any person or entity alleging any such infringement, misappropriation, dilution or other violation. There is no Proceeding pending or, to Sellers’ Knowledge, threatened, challenging a Seller’s ownership of any Owned Intellectual Property, or its right to use any Transferred Intellectual Property, or challenging the validity, registrability, or enforceability of any Registered Intellectual Property included in the Owned Intellectual Propertypractice.
(d) Sellers represent that they are, each as applicable, the registrant of record of each domain name as set forth in Schedule 4.09(d) (collectively, the “Domain Names”).
(e) Sellers have taken commercially reasonable measures to protect the confidentiality of all Trade Secrets included in the Owned Intellectual Property and no material Trade Secrets have been disclosed by Sellers to any Person except pursuant to written non-disclosure agreements or other obligations of confidentiality, and, to Sellers’ Knowledge, there has not been a breach of any such agreement or obligation by any such Person.
(f) To Seller’s Knowledge, Sellers have obtained from each Person (including current and former employees and independent contractors) who has created or developed for or on behalf of Sellers any Owned Intellectual Property that is material to the Business a written, present and, valid assignment of such Intellectual Property to a Seller.
(g) To Sellers’ Knowledge, in the past three (3) years, there has been no material unauthorized access to or material unauthorized use of any confidential or proprietary information or data that is both in Sellers’ possession or control and material to the Business.
(h) With respect to any material Software included within the Transferred Intellectual Property, to Sellers’ Knowledge (i) such Software is free from any material bugs, viruses or other malicious code, (ii) the Source Code for such Software has not been disclosed to any Third Party, and (iii) such Software does not contain, derive from or link to any open source Software in a manner that requires the disclosure of any proprietary Source Code, limits the ability to charge fees, or grants any license to any Third Party to make derivative works.
(i) Neither the execution, delivery or performance of this Agreement, nor the consummation of the transactions contemplated by the Ancillary Agreements will result in the material loss or impairment of any of the Owned Intellectual Property.
(j) All third-party code that is incorporated into the proprietary Software included in the Transferred Intellectual Property and that is critical to the operation of such Software is commercially available (each a “Critical IP License” and collectively “Critical IP Licenses”), and following Closing, Buyer will be able to procure a license for all such third-party code for (i) an aggregate amount during the one-year period immediately following the Closing that shall not exceed the amount reflected for such third-party code in the Unaudited Financial Statements by more than $200,000, and (ii) an aggregate amount during the twelve (12) months period following the initial one-year period immediately following Closing that shall not exceed the amount reflected for such third-party code in the Unaudited Financial Statements by more than $200,000; provided that any increases in license fees resulting from a volume increase, additional licenses or other change in the operation of Business post Closing shall not be breaches of this representation.
(k) Buyer and Sellers agree that the representations and warranties included in this Section 4.09 shall be the sole and exclusive representations and warranties of Sellers with respect to Intellectual Property matters in this Agreement.
Appears in 3 contracts
Samples: Asset Purchase Agreement (EnviroStar, Inc.), Asset Purchase Agreement (EnviroStar, Inc.), Asset Purchase Agreement (EnviroStar, Inc.)
Intellectual Property. (a) Schedule 4.09(a) sets forth Except as could not reasonably be expected, individually or in the aggregate, to prevent or materially delay consummation of any of the Transactions or otherwise prevent or materially delay Parent from performing its obligations under this Agreement and could not reasonably be expected, individually or in the aggregate, to have a true and complete list of all Parent Material Adverse Effect:
(i) Registered to the knowledge of Parent, Parent and the Parent Subsidiaries own or are licensed to use all Intellectual Property included used in or necessary for the conduct of their respective businesses as currently conducted;
(ii) to the knowledge of Parent, the conduct of the business of Parent and the Parent Subsidiaries as currently conducted does not infringe upon or misappropriate the Intellectual Property rights of any third party;
(iii) there are no claims or suits pending or, to the knowledge of the Parent and except as set forth in Section 4.13(a)(iii) of the Parent Disclosure Schedule, threatened against Parent or any Parent Subsidiary (A) alleging that the conduct of the business of Parent or any Parent Subsidiary as currently conducted infringes upon or misappropriates the Intellectual Property rights of any third party or (B) challenging the ownership, use, validity or enforceability of any item of Intellectual Property owned by Parent or a Parent Subsidiary (“Parent Owned Intellectual Property”);
(iv) with respect to Parent Owned Intellectual Property, indicating for each item Parent or a Parent Subsidiary is the registration or application number, the registration or application date, and the applicable filing jurisdiction and (ii) Owned Intellectual Property that is not registered but that is material to the operation owner of the Business. Sellers exclusively own all, entire right, title and interest in all and to such Parent Owned Intellectual Property, free and clear of all Encumbrances (liens, encumbrances and other than Permitted Encumbrances). Sellers are not bound by any outstanding judgmentrestrictions, injunction, order or decree or any contractual obligation materially restricting the and is entitled to use by a Seller of the Owned Intellectual Property, or materially restricting the licensing thereof to any Person. With respect to the Registered Intellectual Property included in the such Parent Owned Intellectual Property listed on Schedule 4.09(a), (i) all such Registered Intellectual Property is subsisting and, to Sellers’ Knowledge, valid and enforceable, (ii) a Seller is in the owner continued operation of record, and (iii) all maintenance fees and filings that are required to be made to maintain such Registered Intellectual Property have been timely made (taking into account any applicable grace periods).its respective business;
(bv) Schedule 4.09(bthere are no settlements, forbearances to sxx, consents, judgments, orders or similar obligations which (A) sets forth, restrict the business of Parent or at the Closing will set forth, a true and complete list of all Intellectual Property Licenses. Except as set forth on Schedule 4.09(b), Sellers have provided Buyer with true and complete copies of all such Intellectual Property Licenses. All such Intellectual Property Licenses are, to Sellers’ Knowledge, valid, binding and enforceable between the applicable Seller and the other parties thereto, and Seller and, to Sellers’ Knowledge, such other parties are any Parent Subsidiary in compliance with the material terms and conditions of such Intellectual Property Licenses.
(c) To Sellers’ Knowledge, the conduct of the Business as currently conducted does not infringe, misappropriate, dilute or otherwise violate, and in the past three (3) years has not infringed, misappropriated or otherwise violated, under any Intellectual Property rights of any Third Party. Sellers have not received third party; or (B) permit any notice that Sellers’ third party to use any Parent Owned Intellectual Property;
(vi) Section 4.13(a)(vi) of the Transferred Parent Disclosure Schedule sets forth each item of material Intellectual Property licensed to Parent or a Parent Subsidiary (“Parent Licensed Intellectual Property”), and Parent or a Parent Subsidiary has the right to use such Parent Licensed Intellectual Property in the conduct continued operation of its respective business in accordance with the terms of the Business license agreement governing such Parent Licensed Intellectual Property and Parent and the Parent Subsidiaries have used such Parent Licensed Intellectual Property in accordance with the terms of such license agreement;
(vii) to the knowledge of Parent, the Parent Owned Intellectual Property is valid and enforceable, and has not been adjudged invalid or unenforceable in whole or in part;
(viii) to the knowledge of Parent, no person is engaging in any activity that infringes upon or misappropriates the Parent Owned Intellectual Property;
(ix) to the knowledge of Parent, each license of the Parent Licensed Intellectual Property is valid and enforceable, is binding on all parties to such license, and is in full force and effect;
(x) to the knowledge of Parent, no party to any license of the Parent Licensed Intellectual Property is in breach thereof or default thereunder; and
(xi) neither the execution of this Agreement nor the consummation of any Transaction will adversely affect any of Parent’s or Parent Subsidiaries’ rights with respect to the Parent Owned Intellectual Property or the Parent Licensed Intellectual Property.
(b) Except as currently conducted infringescould not reasonably be expected, misappropriatesindividually or in the aggregate, dilutes to have a Parent Material Adverse Effect, Parent and the Parent Subsidiaries have taken commercially reasonable actions to protect each item of Parent Owned Intellectual Property. Parent and the Parent Subsidiaries have policies of (i) obtaining assignments from all technical employees and consultants, who are involved in any way in the research, development or otherwise violatesinvention of technology, of all of their rights in the technology created by them within the scope of their employment during such employment and (ii) requiring all directors who are involved in an executive capacity with Parent or a Parent Subsidiary, officers, management employees, and technical and professional employees of Parent and the Parent Subsidiaries to enter into written agreements with Parent or the Parent Subsidiaries to maintain in confidence all confidential or proprietary information acquired by them in the course of their employment. Parent and the Parent Subsidiaries enforce the foregoing policies in a manner consistent with industry standard practices and neither Parent nor the Parent Subsidiaries are aware of any violations of the foregoing policies.
(c) Parent or any Parent Subsidiary has not agreed to indemnify any third party for or against any infringement or misappropriation with respect to any third party Intellectual Property other than in the ordinary course of business.
(d) The consummation of the Transactions will not result in Parent or any Parent Subsidiary being bound by any non-compete or other restriction on the operation of any business of Parent or any Parent Subsidiary, or in the past three (3) years has infringed, misappropriated grant by Parent or otherwise violated, any Intellectual Property Rights Parent Subsidiary of any Third Party. No Proceedings are pending and no written notices have been received by Sellers during the past three (3) years (rights or earlier, if presently not resolved), in each case, alleging licenses to any infringement, misappropriation or other violation by Sellers of the Intellectual Property rights of any Third Party. Except as set forth in Schedule 4.09(c), to Sellers’ Knowledge, during the past three (3) years (or earlier, if presently not resolved) no Person has infringed, misappropriated, diluted or otherwise violated any of the Owned Intellectual Property or Transferred Technology, and no Seller has made or asserted any claim, demand or notice against any person or entity alleging any such infringement, misappropriation, dilution or other violation. There is no Proceeding pending or, to Sellers’ Knowledge, threatened, challenging a Seller’s ownership of any Owned Intellectual Property, or its right to use any Transferred Intellectual Property, or challenging the validity, registrability, or enforceability of any Registered Intellectual Property included in the Parent Owned Intellectual Property.
(d) Sellers represent that they are, each as applicable, the registrant of record of each domain name as set forth in Schedule 4.09(d) (collectively, the “Domain Names”).
(e) Sellers have taken commercially reasonable measures to protect the confidentiality of all Trade Secrets included in the Parent or any Parent Subsidiary has not licensed any Parent Owned Intellectual Property and no material Trade Secrets have been disclosed by Sellers to any Person except pursuant third party other than in the ordinary course of business. SECTION 4.14. Taxes. Parent and the Parent Subsidiaries have filed all material Tax Returns required to written non-disclosure agreements be filed by them and have paid and discharged all material Taxes required to be paid or discharged, other obligations of confidentialitythan such payments as are being contested in good faith by appropriate proceedings. All Tax Returns are true, andaccurate and complete in all material respects. No taxing authority or agency is now asserting or, to Sellers’ Knowledgethe knowledge of Parent, there threatening to assert, against Parent or any Parent Subsidiary any material deficiency or claim for any Taxes or interest thereon or penalties in connection therewith. Neither Parent nor any Parent Subsidiary has not been a breach granted any waiver of any statute of limitations with respect to, or any extension of a period for the assessment of, any Tax. The accruals and reserves for Taxes reflected in the consolidated balance sheet of Parent and the consolidated Parent Subsidiaries as at September 30, 2003 are adequate to cover all Taxes accruable through such agreement or obligation by any such Person.
(f) To Seller’s Knowledge, Sellers have obtained from each Person date (including current interest and former employees and independent contractorspenalties, if any, thereon) who has created in accordance with GAAP. There are no Tax liens upon any property or developed for assets of Parent or on behalf of Sellers any Owned Intellectual Property that is material to the Business a written, present and, valid assignment of such Intellectual Property to a Seller.
(g) To Sellers’ Knowledge, in the past three (3) years, there has been no material unauthorized access to or material unauthorized use of any confidential or proprietary information or data that is both in Sellers’ possession or control and material to the Business.
(h) With respect to any material Software included within the Transferred Intellectual Property, to Sellers’ Knowledge (i) such Software is free from any material bugs, viruses or other malicious code, (ii) the Source Code for such Software has not been disclosed to any Third Party, and (iii) such Software does not contain, derive from or link to any open source Software in a manner that requires the disclosure of any proprietary Source Code, limits the ability to charge fees, or grants any license to any Third Party to make derivative works.
(i) Neither the execution, delivery or performance of this Agreement, nor the consummation of the transactions contemplated by the Ancillary Agreements will result in the material loss or impairment of any of the Owned Intellectual Property.
Parent Subsidiaries except liens for current Taxes not yet due. To the knowledge of Parent, neither Parent nor any of its affiliates has taken or agreed to take any action that would prevent the Merger from qualifying as a reorganization within the meaning of Section 368(a) of the Code (jdetermined without the application of Section 367 of the Code) All third-party code that is incorporated into or the proprietary Software included in the Transferred Intellectual Property and that is critical exchange by Eligible Company Stockholders of Company Shares for Parent ADSs pursuant to the operation Merger from satisfying the requirements of such Software Section 1.367(a)-3(c) of the Regulations other than subsection (3)(C) thereof. Parent is commercially available (each a “Critical IP License” and collectively “Critical IP Licenses”)not aware of any agreement, and following Closing, Buyer will be able to procure a license for all such third-party code for (i) an aggregate amount during the one-year period immediately following the Closing that shall not exceed the amount reflected for such third-party code in the Unaudited Financial Statements by more than $200,000, and (ii) an aggregate amount during the twelve (12) months period following the initial one-year period immediately following Closing that shall not exceed the amount reflected for such third-party code in the Unaudited Financial Statements by more than $200,000; provided that any increases in license fees resulting from a volume increase, additional licenses plan or other change in circumstance that would prevent the operation Merger from qualifying as a reorganization within the meaning of Business post Closing shall not be breaches Section 368(a) of this representationthe Code (determined without the application of Section 367 of the Code) or the exchange by Eligible Company Stockholders of Company Shares for Parent ADSs pursuant to the Merger from satisfying the requirements of Section 1.367(a)-3(c) of the Regulations other than subsection (3)(C) thereof.
(k) Buyer and Sellers agree that the representations and warranties included in this Section 4.09 shall be the sole and exclusive representations and warranties of Sellers with respect to Intellectual Property matters in this Agreement.
Appears in 3 contracts
Samples: Agreement and Plan of Merger and Reorganization (Temasek Holdings LTD), Merger Agreement (Chippac Inc), Merger Agreement (Chippac Inc)
Intellectual Property. (ai) Schedule 4.09(aSection 3.01(q)(i) of the Seller Disclosure Letter sets forth a true and complete list of all (i) Registered registered Intellectual Property included in the Owned MCC IP (the “MCC Registered IP”) and all other material Intellectual PropertyProperty owned by the Non-MCC Entities that is necessary to the conduct of the MCC Business. As of the date of this Agreement, indicating for each item all required filings and fees related to the registration MCC Registered IP have been timely filed and paid. All MCC Registered IP is subsisting in all material respects, and, in the jurisdiction(s) where such MCC Registered IP is issued or application numberregistered, the registration or application date, is valid and enforceable.
(ii) The Non-MCC Entities and the applicable filing jurisdiction Transferred Entities (i) have not granted any license with respect to any MCC IP, and (ii) Owned have not received any license with respect to material Intellectual Property that is not registered but that is material necessary to the operation conduct of the MCC Business. Sellers exclusively own all, rightother than non-exclusive licenses for commercial, title and interest in all Owned off-the-shelf Intellectual Property.
(iii) The Non-MCC Entities (solely with respect to the MCC Business) and the Transferred Entities own, or have sufficient rights to use, all MCC IP, free and clear of all Encumbrances Liens, except for Permitted Liens.
(other than Permitted Encumbrances). Sellers are not bound by any outstanding judgment, injunction, order or decree or any contractual obligation materially restricting the use by a Seller of the Owned Intellectual Property, or materially restricting the licensing thereof to any Person. With iv) (A) The Non-MCC Entities (solely with respect to the Registered Intellectual Property included in the Owned Intellectual Property listed on Schedule 4.09(a), (iMCC Business) all such Registered Intellectual Property is subsisting and, to Sellers’ Knowledge, valid and enforceable, (ii) a Seller is the owner of record, and (iii) all maintenance fees and filings that are required to be made to maintain such Registered Intellectual Property have been timely made (taking into account any applicable grace periods).
(b) Schedule 4.09(b) sets forth, or at the Closing will set forth, a true and complete list of all Intellectual Property Licenses. Except as set forth on Schedule 4.09(b), Sellers have provided Buyer with true and complete copies of all such Intellectual Property Licenses. All such Intellectual Property Licenses are, to Sellers’ Knowledge, valid, binding and enforceable between the applicable Seller and the other parties thereto, and Seller and, to Sellers’ Knowledge, such other parties are in compliance with the material terms and conditions of such Intellectual Property Licenses.
(c) To Sellers’ Knowledge, the conduct of the Business as currently conducted does Transferred Entities have not infringe, misappropriate, dilute or otherwise violate, and in the past three (3) years has not materially infringed, misappropriated or otherwise violated, any Intellectual Property rights of any Third Party. Sellers have not received any notice that Sellers’ use of the Transferred Intellectual Property in the conduct of the Business as currently conducted infringes, misappropriates, dilutes or otherwise violates, or in the past three (3) years has infringed, misappropriated or otherwise violated, any Intellectual Property Rights of any Third Party. No Proceedings are pending and no written notices have been received by Sellers during the past three (3) years (or earlier, if presently not resolved), in each case, alleging any infringement, misappropriation or other violation by Sellers of violated the Intellectual Property rights of any Third Party. Except as set forth in Schedule 4.09(c), to Sellers’ Knowledge, during the past three (3) years (or earlier, if presently third party and have not resolved) no Person has infringed, misappropriated, diluted or otherwise violated received any of the Owned Intellectual Property or Transferred Technology, and no Seller has made or asserted any claim, demand or notice against any person or entity alleging any such infringement, misappropriationmisappropriation or violation, dilution and there are no pending proceedings, administrative claims, litigation, suits, actions or other violation. There investigations alleging the same, and (B) to the Knowledge of the Seller, no third party is no Proceeding pending orinfringing, misappropriating or otherwise violating any MCC IP.
(v) The Non-MCC Entities (solely with respect to Sellers’ Knowledge, threatened, challenging a Seller’s ownership the MCC Business) and the Transferred Entities have with respect to the MCC Business taken commercially reasonable steps to maintain the MCC Registered IP and to protect and preserve the confidentiality of any Owned Intellectual Property, or its right to use any Transferred Intellectual Property, or challenging the validity, registrability, or enforceability of any Registered Intellectual Property all trade secrets included in the Owned Intellectual PropertyMCC IP. To the Knowledge of the Seller, no trade secrets included in the MCC IP have been used or disclosed without authorization.
(dvi) Sellers represent that they are, each as applicableTo the Knowledge of the Seller, the registrant Information Technology Systems included in the IT Assets are reasonably sufficient for the present and immediate future needs of record the MCC Business and have not suffered a material malfunction or failure. To the Knowledge of each domain name as set forth in Schedule 4.09(d) (collectivelythe Seller, the “Domain Names”).
Non-MCC Entities (esolely with respect to the MCC Business) Sellers and the Transferred Entities have taken commercially reasonable measures efforts to protect the secrecy, confidentiality and value of all Trade Secrets the confidential and proprietary information included in the Owned Intellectual Property and no material Trade Secrets have been disclosed by Sellers to any Person except pursuant to written non-disclosure agreements or other obligations of confidentiality, and, to Sellers’ Knowledge, there has not been a breach of any such agreement or obligation by any such PersonMCC IP.
(fvii) To the Knowledge of the Seller’s Knowledge, Sellers have obtained from each Person : (including current and former employees and independent contractorsA) who has created or developed for or on behalf of Sellers any Owned Intellectual Property that is material the Non-MCC Entities (solely with respect to the Business a writtenMCC Business) and the Transferred Entities have implemented commercially reasonable backup, present andsecurity and disaster recovery technology and procedures, valid assignment (B) the Non-MCC Entities (solely with respect to the MCC Business) and the Transferred Entities are in all material respects in compliance with applicable Laws and Orders regarding the privacy and security of such Intellectual Property to a Seller.
customer, employee and other Personal Data and are compliant in all material respects with their respective privacy policies, (gC) To Sellers’ Knowledgethere have not been any incidents of, in the past three (3) yearsor third party claims related to, there has been no material any unauthorized access to or material unauthorized use of any confidential or proprietary information or data that is both in Sellers’ possession or control and material to the Business.
(h) With respect to any material Software included within the Transferred Intellectual Property, to Sellers’ Knowledge (i) such Software is free from any material bugs, viruses or other malicious code, (ii) the Source Code for such Software has not been disclosed to any Third Party, and (iii) such Software does not contain, derive from or link to any open source Software in a manner that requires the disclosure of any proprietary Source Code, limits the ability to charge feesto, or grants unauthorized disclosure or use of, any license to any Third Party to make derivative works.
(i) Neither the execution, delivery or performance of this Agreement, nor the consummation of the transactions contemplated by the Ancillary Agreements will result Personal Data in the material loss or impairment of any of the Owned Intellectual Property.
Non-MCC Entities’ (j) All third-party code that is incorporated into the proprietary Software included in the Transferred Intellectual Property and that is critical to the operation of such Software is commercially available (each a “Critical IP License” and collectively “Critical IP Licenses”), and following Closing, Buyer will be able to procure a license for all such third-party code for (i) an aggregate amount during the one-year period immediately following the Closing that shall not exceed the amount reflected for such third-party code in the Unaudited Financial Statements by more than $200,000, and (ii) an aggregate amount during the twelve (12) months period following the initial one-year period immediately following Closing that shall not exceed the amount reflected for such third-party code in the Unaudited Financial Statements by more than $200,000; provided that any increases in license fees resulting from a volume increase, additional licenses or other change in the operation of Business post Closing shall not be breaches of this representation.
(k) Buyer and Sellers agree that the representations and warranties included in this Section 4.09 shall be the sole and exclusive representations and warranties of Sellers solely with respect to Intellectual Property matters in this Agreementthe MCC Business) or any of the Transferred Entities’ possession and (D) no Non-MCC Entity (solely with respect to the MCC Business) or Transferred Entity has received any written notice of any material claims, investigations (including investigations by any Governmental Entity), or alleged violations of any Laws and Orders with respect to Personal Data possessed by the Seller or any of its Subsidiaries.
Appears in 2 contracts
Samples: Stock and Asset Purchase Agreement (Magellan Health Inc), Stock and Asset Purchase Agreement (Molina Healthcare, Inc.)
Intellectual Property. (a) Schedule 4.09(a) sets forth a true and complete list of all (i) Registered Intellectual Property included in the Owned Intellectual Property, indicating for each item the registration or application number, the registration or application date, and the applicable filing jurisdiction and (ii) Owned Intellectual Property that is not registered but that is material to the operation of the Business. Sellers exclusively own all, right, title and interest in all Owned Intellectual Property, free and clear of all Encumbrances (other than Permitted Encumbrances). Sellers are not bound by any outstanding judgment, injunction, order or decree or any contractual obligation materially restricting the use by a Seller of the Owned Intellectual Property, or materially restricting the licensing thereof to any Person. With respect to the Registered Intellectual Property included in the Owned Intellectual Property listed on Schedule 4.09(a), (i) all such Registered Intellectual Property is subsisting and, to Sellers’ Knowledge, valid and enforceable, (ii) a Seller is the owner of record, and (iii) all maintenance fees and filings that are required to be made to maintain such Registered Intellectual Property have been timely made (taking into account any applicable grace periods).
(b) Schedule 4.09(b) sets forth, or at the Closing will set forth, a true and complete list of all Intellectual Property Licenses. Except as set forth on Schedule 4.09(b), Sellers have provided Buyer with true and complete copies of all such Intellectual Property Licenses. All such Intellectual Property Licenses are, to Sellers’ Knowledge, valid, binding and enforceable between the applicable Seller and the other parties thereto, and Seller and, to Sellers’ Knowledge, such other parties are in compliance with the material terms and conditions of such Intellectual Property Licenses.
(c) To Sellers’ Knowledge, the conduct of the Business as currently conducted does not infringe, misappropriate, dilute or otherwise violate, and in the past three (3) years has not infringed, misappropriated or otherwise violated, any Intellectual Property rights of any Third Party. Sellers have not received any notice that Sellers’ use of the Transferred Intellectual Property in the conduct of the Business as currently conducted infringes, misappropriates, dilutes or otherwise violates, or in the past three (3) years has infringed, misappropriated or otherwise violated, any Intellectual Property Rights of any Third Party. No Proceedings are pending and no written notices have been received by Sellers during the past three (3) years (or earlier, if presently not resolved), in each case, alleging any infringement, misappropriation or other violation by Sellers of the Intellectual Property rights of any Third Party. Except as set forth in Schedule 4.09(c), to Sellers’ Knowledge, during the past three (3) years (or earlier, if presently not resolved) no Person has infringed, misappropriated, diluted or otherwise violated any of the Owned Intellectual Property or Transferred Technology, and no Seller has made or asserted any claim, demand or notice against any person or entity alleging any such infringement, misappropriation, dilution or other violation. There is no Proceeding pending or, to Sellers’ Knowledge, threatened, challenging a Seller’s ownership of any Owned Intellectual Property, or its right to use any Transferred Intellectual Property, or challenging the validity, registrability, or enforceability of any Registered Intellectual Property included in the Owned Intellectual Property.
(d) Sellers represent that they are, each as applicable, the registrant of record of each domain name as set forth in Schedule 4.09(d) (collectively, the “Domain Names”).
(e) Sellers have taken commercially reasonable measures to protect the confidentiality of all Trade Secrets included in the Owned Intellectual Property and no material Trade Secrets have been disclosed by Sellers to any Person except pursuant to written non-disclosure agreements or other obligations of confidentiality, and, to Sellers’ Knowledge, there has not been a breach of any such agreement or obligation by any such Person.
(f) To Seller’s Knowledge, Sellers have obtained from each Person (including current and former employees and independent contractors) who has created or developed for or on behalf of Sellers any Owned Intellectual Property that is material to the Business a written, present and, valid assignment of such Intellectual Property to a Seller.
(g) To Sellers’ Knowledge, in the past three (3) years, there has been no material unauthorized access to or material unauthorized use of any confidential or proprietary information or data that is both in Sellers’ possession or control and material to the Business.
(h) With respect to any material Software included within the Transferred Intellectual Property, to Sellers’ Knowledge (i) such Software is free from any material bugs, viruses or other malicious code, (ii) the Source Code for such Software has not been disclosed to any Third Party, and (iii) such Software does not contain, derive from or link to any open source Software in a manner that requires the disclosure of any proprietary Source Code, limits the ability to charge fees, or grants any license to any Third Party to make derivative works.
(i) Neither the execution, delivery or performance of this Agreement, nor the The consummation of the transactions contemplated by the Ancillary Agreements hereby will not result in the material loss or impairment of any of the Owned Intellectual PropertyProperty rights included in Purchased Assets.
(jb) All third-party code that To the Knowledge of Seller or any of the Principals, no Person has infringed, misappropriated or violated, or is incorporated into currently infringing, misappropriating or otherwise violating, any of the proprietary Software Intellectual Property rights included in the Transferred Purchased Assets.
(c) Seller and Principals have not received from any Person any written notification of alleged infringement, misappropriation or other violation of any Intellectual Property and that is critical Rights of any Person arising from the Seller’s development or use of any Purchased Assets or any Intellectual Property rights included in the Purchased Assets.
(d) Seller’s development or use, prior to the operation Closing Date, of such Software is commercially available any Purchased Assets or of any Intellectual Property rights included in the Purchased Assets did not constitute infringement, misappropriation or other violation of any valid and enforceable Intellectual Property rights of any Person or unfair competition or trade practices under the laws of any jurisdiction.
(each a “Critical IP License” and collectively “Critical IP Licenses”), and following Closing, Buyer will be able to procure a license for all such third-party code for e) The Purchased Assets (i) an aggregate amount during have not been the one-year period immediately following subject of any prior Action; (ii) are not the Closing subject of any pending Action; (iii) are not the subject of any claim for which Seller or any Principal has received written notification; and (iii) are not the subject of any threatened claim of which Seller or any Principal has Knowledge.
(f) To the extent that shall not exceed any Purchased Asset is subject to any third party rights or restrictions: (i) Seller has a written agreement with such third party or parties with respect thereto, pursuant to which Seller has obtained the amount reflected for right to use such third-party code in the Unaudited Financial Statements Purchased Asset by more than $200,000valid assignment, license or otherwise and (ii) an aggregate amount during the twelve (12) months period following transfers, assignments and conveyance of the initial one-year period immediately following Closing that shall Purchased Assets from Seller to Buyer hereunder will not exceed violate or cause any adverse consequences under any such third Party agreements. Seller has not transferred ownership of, or granted any license of or right to use, or authorized the amount reflected for such third-party code in retention of any rights to use, any of the Unaudited Financial Statements by more than $200,000; provided that Purchased Assets to any increases in license fees resulting from a volume increase, additional licenses or other change in the operation of Business post Closing shall not be breaches of this representationPerson.
(kg) The possession, use and operation of the Purchased Assets by Buyer immediately after Closing do not and Sellers agree will not: (i) infringe or misappropriate the Intellectual Property rights of any Person, (ii) violate the rights of any Person (including rights to privacy or publicity), or (iii) constitute unfair competition or trade practices under the laws of any jurisdiction, and there is no basis for any such claims. Seller has not received notice from any Person claiming that the representations pre-closing Purchased Assets infringe or misappropriate the Intellectual Property rights of any Person or constitute unfair competition or trade practices under the laws of any jurisdiction
(h) Seller has taken reasonable steps to protect Seller’s rights, under Florida’s Trade Secrets Act (Fla. Stat. §§ 688.001 et seq.) (“FTSA”), Ohio’s Trade Secrets Act (Ohio Revised Code §§ 1333.61 et seq.) (“OTSA”), the common law of the State of New York, or other applicable laws, as the case may be, in any confidential information and warranties trade secrets of Seller included in, associated with, or related to the Purchased Assets, and is not aware of any violation of the foregoing laws or other similar applicable laws by any third party arising from any misappropriation, acquisition, or disclosure of such confidential information or trade secrets through improper or illicit means. No employee or other Person who has been involved in this Section 4.09 shall be the sole and exclusive representations and warranties creation, invention or development of Sellers any of the Purchased Assets for or on behalf of Seller owns or has any rights in any of such Purchased Assets, nor has any such employee or other Person made any assertions with respect to Intellectual Property matters in this Agreementany alleged ownership or rights, nor to the Knowledge of Seller threatened any such assertion.
Appears in 2 contracts
Samples: Asset Purchase Agreement (Cellular Biomedicine Group, Inc.), Asset Purchase Agreement (Cellular Biomedicine Group, Inc.)
Intellectual Property. (a) Except as set forth on Schedule 4.09(a3.3(a) sets and Schedule 3.3(d), the Adhera License Agreement is in full force and effect. Except as set forth on Schedule 3.3(a), the Company possesses legally enforceable rights pursuant to a true valid and complete list enforceable written license, sublicense, agreement, or permission to use the Licensed Intellectual Property. Except as set forth on Schedule 3.3(a), the Company is the valid licensee of all (i) Registered Intellectual Property included in the Owned Intellectual Property, indicating for each item the registration or application number, the registration or application date, and the applicable filing jurisdiction and (ii) Owned Intellectual Property that is not registered but that is material to the operation of the Business. Sellers exclusively own all, right, title and interest in all Owned Licensed Intellectual Property, free and clear of any and all Encumbrances (other than Permitted Encumbrances). Sellers are not bound by any outstanding judgment, injunction, order or decree or any contractual obligation materially restricting Assuming the use by a Seller execution and delivery of the Owned Intellectual PropertyTermination Agreement and Biodexa License Agreement contemplated hereby, or materially restricting the licensing thereof to any Person. With respect to the Registered Intellectual Property included in the Owned Intellectual Property listed on Schedule 4.09(a), (i) all such Registered Intellectual Property is subsisting and, to Sellers’ Knowledge, valid and enforceable, (ii) a Seller is the owner of record, and (iii) all maintenance fees and filings that are required to be made to maintain such Registered Intellectual Property have been timely made (taking into account any applicable grace periods).
(b) Schedule 4.09(b) sets forth, or at the Closing will set forth, a true and complete list of all Intellectual Property Licenses. Except as set forth on Schedule 4.09(b), Sellers have provided Buyer with true and complete copies of all such Intellectual Property Licenses. All such Intellectual Property Licenses are, to Sellers’ Knowledge, valid, binding and enforceable between the applicable Seller and the other parties thereto, and Seller and, to Sellers’ Knowledge, such other parties are in compliance with the material terms and conditions of such Intellectual Property Licenses.
(c) To Sellers’ Knowledge, the conduct of the Business as currently conducted does not infringe, misappropriate, dilute or otherwise violate, and in the past three (3) years has not infringed, misappropriated or otherwise violated, any Intellectual Property rights of any Third Party. Sellers have not received any notice that Sellers’ use of the Transferred Intellectual Property in the conduct of the Business as currently conducted infringes, misappropriates, dilutes or otherwise violates, or in the past three (3) years has infringed, misappropriated or otherwise violated, any Intellectual Property Rights of any Third Party. No Proceedings are pending and no written notices have been received by Sellers during the past three (3) years (or earlier, if presently not resolved), in each case, alleging any infringement, misappropriation or other violation by Sellers of the Intellectual Property rights of any Third Party. Except as set forth in Schedule 4.09(c), to Sellers’ Knowledge, during the past three (3) years (or earlier, if presently not resolved) no Person has infringed, misappropriated, diluted or otherwise violated any of the Owned Intellectual Property or Transferred Technology, and no Seller has made or asserted any claim, demand or notice against any person or entity alleging any such infringement, misappropriation, dilution or other violation. There is no Proceeding pending or, to Sellers’ Knowledge, threatened, challenging a Seller’s ownership of any Owned Intellectual Property, or its right to use any Transferred Intellectual Property, or challenging the validity, registrability, or enforceability of any Registered Intellectual Property included in the Owned Intellectual Property.
(d) Sellers represent that they are, each as applicable, the registrant of record of each domain name as set forth in Schedule 4.09(d) (collectively, the “Domain Names”).
(e) Sellers have taken commercially reasonable measures to protect the confidentiality of all Trade Secrets included in the Owned Intellectual Property and no material Trade Secrets have been disclosed by Sellers to any Person except pursuant to written non-disclosure agreements or other obligations of confidentiality, and, to Sellers’ Knowledge, there has not been a breach of any such agreement or obligation by any such Person.
(f) To Seller’s Knowledge, Sellers have obtained from each Person (including current and former employees and independent contractors) who has created or developed for or on behalf of Sellers any Owned Intellectual Property that is material to the Business a written, present and, valid assignment of such Intellectual Property to a Seller.
(g) To Sellers’ Knowledge, in the past three (3) years, there has been no material unauthorized access to or material unauthorized use of any confidential or proprietary information or data that is both in Sellers’ possession or control and material to the Business.
(h) With respect to any material Software included within the Transferred Intellectual Property, to Sellers’ Knowledge (i) such Software is free from any material bugs, viruses or other malicious code, (ii) the Source Code for such Software has not been disclosed to any Third Party, and (iii) such Software does not contain, derive from or link to any open source Software in a manner that requires the disclosure of any proprietary Source Code, limits the ability to charge fees, or grants any license to any Third Party to make derivative works.
(i) Neither neither the execution, delivery delivery, or performance of this Agreement, nor the consummation of the transactions contemplated by the Ancillary Agreements hereunder, will result in the material loss or impairment of or payment of any additional amounts other than as provided for in the Adhera License Agreement, with respect to, or require the consent of any other Person in respect of, the right to own or use any Licensed Intellectual Property. Other than the Adhera License Agreement, there are no other royalty or licensing agreements relating to the Company or, to the Company’s Knowledge, any other party with respect to the Licensed Intellectual Property or other arrangements or amounts owed to any parties with respect or relating thereto, whether conditioned on the achievement of milestones, passage of time or otherwise. Except as set forth on Schedule 3.3(a), no amounts are owed under the Adhera License Agreement other than as provided therein. The Termination Agreement and the assignment of the Owned License Rights to Buyer, pursuant to the terms and conditions set forth herein, do not conflict with or violate the Adhera License Agreement and comply in all respects with the Adhera License Agreement.
(b) The Company has taken commercially reasonable steps to protect and preserve the confidentiality of all confidential Licensed Intellectual Property.
(jc) All third-To the Company’s Knowledge, the Company has complied with and is presently in compliance in all material respects, with all foreign, federal, state, local, governmental, administrative, or regulatory Laws applicable to any Licensed Intellectual Property, and the Company shall take all steps necessary to ensure such compliance until Closing.
(d) Except as disclosed on Schedule 3.3(d), there are no licenses, settlement agreements, covenants not to sue or other agreements in which the Company or any Company predecessor has granted any rights or interest in or to, or permitted use of, any material Licensed Intellectual Property by any third party code that is incorporated into or Affiliate. To the proprietary Software included Company’s Knowledge, other than the Adhera License Agreement, there are no licenses, settlement agreements, covenants not to sue or other agreements in which Melior or any predecessor of Melior has granted any rights or interest in or to, or permitted use of, any material Licensed Intellectual Property by any third party or Affiliate.
(e) The Company has not made a previous assignment, transfer, or agreement in conflict herewith or constituting a present or future assignment of or encumbrance of the Transferred Adhera License Agreement or any of the Licensed Intellectual Property and that is critical has not granted any license or sublicense of any material rights under or with respect to the operation of such Software is commercially available (each a “Critical IP License” and collectively “Critical IP Licenses”), and following Closing, Buyer will be able to procure a license for all such third-party code for (i) an aggregate amount during the one-year period immediately following the Closing that shall not exceed the amount reflected for such third-party code in the Unaudited Financial Statements by more than $200,000, and (ii) an aggregate amount during the twelve (12) months period following the initial one-year period immediately following Closing that shall not exceed the amount reflected for such third-party code in the Unaudited Financial Statements by more than $200,000; provided that Adhera License Agreement or any increases in license fees resulting from a volume increase, additional licenses or other change in the operation of Business post Closing shall not be breaches of this representationLicensed Intellectual Property.
(kf) Buyer By executing and Sellers agree that the representations and warranties included in this Section 4.09 shall be the sole and exclusive representations and warranties of Sellers with respect to Intellectual Property matters in performing its obligations under this Agreement, the Company is not in violation of any agreement between the Company and any third party relating to any of the Licensed Intellectual Property.
(g) Except as set forth on Schedule 3.3(a), the Company is not in breach of or default under, and neither has provided nor received any notice of any intention to terminate, the Adhera License Agreement, and to the Company’s Knowledge, no event or circumstance has occurred that, with notice or lapse of time or both, would constitute an event of default under the Adhera License Agreement or result in a termination or cancelation thereof or would cause or permit the acceleration or other changes of any right or obligation or the loss of any benefit thereunder.
Appears in 2 contracts
Samples: Assignment and Exchange Agreement (Adhera Therapeutics, Inc.), Assignment and Exchange Agreement (Biodexa Pharmaceuticals PLC)
Intellectual Property. (a) Schedule 4.09(a1.1(a)(i) sets and (ii) collectively set forth a true and complete list of all Patents and Trademarks primarily related to the MedLaunch Implant Program and owned by Seller, specifying as applicable: (i) Registered Intellectual Property included in the Owned Intellectual Propertytitle thereof, indicating for each item if any; (ii) the registration or application numbernumber thereof, the registration or application date, and the applicable filing jurisdiction and (ii) Owned Intellectual Property that is not registered but that is material to the operation of the Business. Sellers exclusively own all, right, title and interest in all Owned Intellectual Property, free and clear of all Encumbrances (other than Permitted Encumbrances). Sellers are not bound by any outstanding judgment, injunction, order or decree or any contractual obligation materially restricting the use by a Seller of the Owned Intellectual Property, or materially restricting the licensing thereof to any Person. With respect to the Registered Intellectual Property included in the Owned Intellectual Property listed on Schedule 4.09(a), (i) all such Registered Intellectual Property is subsisting and, to Sellers’ Knowledge, valid and enforceable, (ii) a Seller is the owner of record, if any; and (iii) all maintenance fees and filings that the jurisdiction in which such item exists or is registered. There are required no agreements to be made which Seller is a party pursuant to maintain such Registered Intellectual Property have been timely made (taking into account which Seller permits any applicable grace periods)other Person to use any Purchased IP.
(b) Schedule 4.09(b) sets forth, or at the Closing will set forth, a true and complete list of all Intellectual Property Licenses. Except as set forth on Schedule 4.09(b), Sellers have provided Buyer with true and complete copies of all such Intellectual Property Licenses. All such Intellectual Property Licenses areThere are no claims pending or, to Sellers’ Knowledgethe Knowledge of Seller, validthreatened in writing by or against Seller or before any Governmental Authority, binding and enforceable between challenging the applicable Seller and the other parties thereto, and Seller and, to Sellers’ Knowledge, such other parties are in compliance with the material terms and conditions validity of such Intellectual Property Licensesany Purchased IP.
(c) To Sellers’ Knowledge, the conduct The consummation of the Business as currently conducted does transactions contemplated hereby will not infringealter or impair any of Seller’s right, misappropriate, dilute title or otherwise violateinterest in or to all Purchased TP, and Seller is not a licensor or licensee in the past three (3) years has not infringed, misappropriated or otherwise violated, any Intellectual Property rights respect of any Third Party. Sellers have not received any notice that Sellers’ use of the Transferred Intellectual Property in the conduct of the Business as currently conducted infringes, misappropriates, dilutes or otherwise violates, or in the past three (3) years has infringed, misappropriated or otherwise violated, any Intellectual Property Rights of any Third Party. No Proceedings are pending and no written notices have been received by Sellers during the past three (3) years (or earlier, if presently not resolved), in each case, alleging any infringement, misappropriation or other violation by Sellers of the Intellectual Property rights of any Third Party. Except as set forth in Schedule 4.09(c), to Sellers’ Knowledge, during the past three (3) years (or earlier, if presently not resolved) no Person has infringed, misappropriated, diluted or otherwise violated any of the Owned Intellectual Property Purchased IP, does not pay any royalty to or Transferred Technologyreceive any royalty from any Person with respect thereto, and no Seller has made not granted any rights to or asserted received any claim, demand or notice against rights from any person or entity alleging any such infringement, misappropriation, dilution or other violation. There is no Proceeding pending or, to Sellers’ Knowledge, threatened, challenging a Seller’s ownership of any Owned Intellectual Property, or its right to use any Transferred Intellectual Property, or challenging the validity, registrability, or enforceability of any Registered Intellectual Property included in the Owned Intellectual PropertyPerson with respect thereto.
(d) Sellers represent that they areTo Seller’s Knowledge, each as applicablePerson who is or was an employee, officer or contractor of Seller or its Affiliates who contributed in any material respect to the registrant creation or development of record the Purchased IP has signed an agreement containing obligations of each domain name as set forth confidentiality and an assignment to Seller or its Affiliates of all Intellectual Property Rights in Schedule 4.09(d) (collectively, such individual’s or entity’s contribution to the “Domain Names”)Purchased IP.
(e) Sellers To Seller’s Knowledge, Seller has paid all filing fees, issue fees, annuities and other fees and charges applicable to the Purchased IP, including those required for the issuance, registration, maintenance, filing and prosecution of the Purchased IP, except as would not have taken commercially reasonable measures a Material Adverse Effect. No Purchased IP is the subject of any pending, or to protect Seller’s Knowledge threatened, interference, opposition, cancellation, protest, litigation or other challenge or Action, except as set forth on Section 2.6(e) of the confidentiality Seller Disclosure Schedule. To Seller’s Knowledge, Seller and its patent counsel have satisfied statutory requirements with respect to the filing, prosecution, and maintenance of all Trade Secrets included in the Owned Intellectual Property and no material Trade Secrets registered Purchased IP, except as would not reasonably be expected to have been disclosed by Sellers to any Person except pursuant to written non-disclosure agreements or other obligations of confidentiality, and, to Sellers’ Knowledge, there has not been a breach of any such agreement or obligation by any such PersonMaterial Adverse Effect.
(f) To Seller’s Knowledge, Sellers have obtained from each Person (including current and former employees and independent contractors) who no Governmental Authority has created or developed for or on behalf of Sellers any Owned Intellectual Property that is material to rights in the Business a written, present and, valid assignment of such Intellectual Property to a SellerPurchased IP.
(g) To Sellers’ Seller’s Knowledge, in no Person has infringed, misappropriated, or otherwise violated, and no Person is currently infringing, misappropriating, or otherwise violating, any claim of an issued (granted) and unexpired Patent within the past three (3) years, there has been no material unauthorized access to or material unauthorized use of any confidential or proprietary information or data that is both in Sellers’ possession or control and material to the BusinessPurchased IP.
(h) With To Seller’s Knowledge, no Action has been instituted or is pending against Seller or has been threatened in writing that challenges the right of Seller with respect to any material Software included within its use or ownership of the Transferred Intellectual Property, to Sellers’ Knowledge (i) such Software is free from any material bugs, viruses or other malicious code, (ii) the Source Code for such Software has not been disclosed to any Third Party, and (iii) such Software does not contain, derive from or link to any open source Software in a manner that requires the disclosure of any proprietary Source Code, limits the ability to charge fees, or grants any license to any Third Party to make derivative worksPurchased IP.
(i) Neither the execution, delivery delivery, or performance of this Agreement, Agreement nor the consummation of the transactions contemplated by the Ancillary Agreements will result in the material loss or impairment of any of the Owned Intellectual Property.
(j) All third-party code that is incorporated into transactions or agreements contemplated by this Agreement will, CERTAIN CONFIDENTIAL PORTIONS OF THIS EXHIBIT WERE OMITTED AND REPLACED WITH “[***]”. A COMPLETE VERSION OF THIS EXHIBIT HAS BEEN FILED SEPARATELY WITH THE SECRETARY OF THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO AN APPLICATION REQUESTING CONFIDENTIAL TREATMENT PURSUANT TO RULE 24B-2 PROMULGATED UNDER THE SECURITIES EXCHANGE ACT OF 1934, AS AMENDED. with or without notice or the proprietary Software included in lapse of time, result in, or give any other Person the Transferred Intellectual Property and that is critical right to the operation of such Software is commercially available (each a “Critical IP License” and collectively “Critical IP Licenses”)cause, and following Closing, Buyer will be able to procure a license for all such third-party code for (i) an aggregate amount during the one-year period immediately following the Closing that shall not exceed the amount reflected for such third-party code in the Unaudited Financial Statements by more than $200,000a loss of, and or Lien on, any Purchased IP; (ii) an aggregate amount during the twelve (12) months period following the initial one-year period immediately following Closing that shall not exceed the amount reflected for such third-party code in the Unaudited Financial Statements release, disclosure, or delivery of any Purchased IP by more than $200,000; provided that or to any increases in license fees resulting from a volume increase, additional licenses escrow agent or other change Person; or (iii) the grant, assignment, or transfer to any other Person of any license or other material right or interest under, to, or in any of the operation of Business post Closing shall not be breaches of this representationPurchased IP.
(k) Buyer and Sellers agree that the representations and warranties included in this Section 4.09 shall be the sole and exclusive representations and warranties of Sellers with respect to Intellectual Property matters in this Agreement.
Appears in 2 contracts
Samples: Asset Purchase and Sale Agreement (Braeburn Pharmaceuticals, Inc.), Asset Purchase and Sale Agreement (Braeburn Pharmaceuticals, Inc.)
Intellectual Property. (a) Schedule 4.09(a) sets forth a true The Assigned Intellectual Property, the Licensed Intellectual Property and complete list the Intellectual Property licensed to the Sellers and/or their Affiliates under the Inbound License Agreements and the Patent Cross Licenses include all the material Intellectual Property that, as of all (i) Registered the date hereof, is used in connection with the conduct and operation of the Business, except with respect to any Intellectual Property included in Overhead and Shared Services.
(b) A list of all the Owned Assigned Intellectual Property registered in the name of the Sellers is set forth in Section 4.5(b) of the Sellers Disclosure Schedule (such listed Intellectual Property, indicating for each item the registration or application number“Business Registered IP”). To the Knowledge of the Sellers, the registration Business Registered IP is subsisting and in full force and effect. The foregoing will not be construed as a warranty that any Patent or Trademark will issue or be registered based on any application date, and pending as of the applicable filing jurisdiction and Closing.
(iic) Owned The Assigned Intellectual Property that is not registered but that is material subject to the operation of the Businessany Liens other than Seller Encumbrances and licenses entered into prior to Closing. The Sellers exclusively own all, all right, title and interest in all Owned Intellectual Property, free and clear to each such item of all Encumbrances (other than Permitted Encumbrances). Sellers are not bound by any outstanding judgment, injunction, order or decree or any contractual obligation materially restricting the use by a Seller of the Owned Intellectual Property, or materially restricting the licensing thereof to any Person. With respect to the Registered Intellectual Property included in the Owned Intellectual Property listed on Schedule 4.09(a), (i) all such Registered Intellectual Property is subsisting and, to Sellers’ Knowledge, valid and enforceable, (ii) a Seller is the owner of record, and (iii) all maintenance fees and filings that are required to be made to maintain such Registered Intellectual Property have been timely made (taking into account any applicable grace periods).
(b) Schedule 4.09(b) sets forth, or at the Closing will set forth, a true and complete list of all Intellectual Property Licenses. Except as set forth on Schedule 4.09(b), Sellers have provided Buyer with true and complete copies of all such Intellectual Property Licenses. All such Intellectual Property Licenses are, to Sellers’ Knowledge, valid, binding and enforceable between the applicable Seller and the other parties thereto, and Seller and, to Sellers’ Knowledge, such other parties are in compliance with the material terms and conditions of such Intellectual Property Licenses.
(c) To Sellers’ Knowledge, the conduct of the Business as currently conducted does not infringe, misappropriate, dilute or otherwise violate, and in the past three (3) years has not infringed, misappropriated or otherwise violated, any Intellectual Property rights of any Third Party. Sellers have not received any notice that Sellers’ use of the Transferred Intellectual Property in the conduct of the Business as currently conducted infringes, misappropriates, dilutes or otherwise violates, or in the past three (3) years has infringed, misappropriated or otherwise violated, any Intellectual Property Rights of any Third Party. No Proceedings are pending and no written notices have been received by Sellers during the past three (3) years (or earlier, if presently not resolved), in each case, alleging any infringement, misappropriation or other violation by Sellers of the Intellectual Property rights of any Third Party. Except as set forth in Schedule 4.09(c), to Sellers’ Knowledge, during the past three (3) years (or earlier, if presently not resolved) no Person has infringed, misappropriated, diluted or otherwise violated any of the Owned Intellectual Property or Transferred Technology, and no Seller has made or asserted any claim, demand or notice against any person or entity alleging any such infringement, misappropriation, dilution or other violation. There is no Proceeding pending or, to Sellers’ Knowledge, threatened, challenging a Seller’s ownership of any Owned Intellectual Property, or its right to use any Transferred Intellectual Property, or challenging the validity, registrability, or enforceability of any Registered Intellectual Property included in the Owned Assigned Intellectual Property.
(d) Sellers represent that they are, each as applicable, the registrant of record of each domain name Except as set forth in Section 4.5(d) of the Sellers Disclosure Schedule, to the Knowledge of the Sellers, no Seller has received any written assertions during the two (2) years prior to the date hereof that (i) any Seller’s operations of the Business, including such Seller’s use, performance, licensing, copying, distribution, sale, offer for sale, lease, manufacture, having made, importation, or any other exploitation of the Products sold by the Business or of the CDMA Services rendered by the Business infringes, misappropriates or violates any Intellectual Property right of any Third Party; or (ii) the use or exploitation of any of the Assigned Intellectual Property infringes or violates any Intellectual Property of or was misappropriated from a Third Party.
(e) To the Knowledge of the Sellers, as of the date hereof, there has been no assertion or claim made in writing to Sellers during the two (2) years prior to the date hereof asserting invalidity, misuse or unenforceability of any Assigned Intellectual Property or challenging the Sellers’ right to use, right to transfer, or ownership of the Assigned Intellectual Property.
(f) Section 4.5(f)(i) of the Sellers Disclosure Schedule 4.09(dsets forth a list of Patent Cross Licenses, indicating for each Patent Cross License, the title and the parties thereto, except to the extent a Patent Cross License prohibits disclosure of its existence without consent of the relevant Third Party, which consent the Sellers were unable to reasonably obtain, in which case such Patent Cross License has been omitted from Section 4.5(f)(i) of the Sellers Disclosure Schedule. Section 4.5(f)(ii) of the Sellers Disclosure Schedule sets forth a list of all material Contracts granting to the Sellers or any of their Affiliates any license under or to any Intellectual Property owned by a Third Party that is, as of the date hereof, incorporated in or used in connection with the design, development, testing, manufacturing, sale, distribution, support or servicing of any products and services within the Business (collectively, the “Domain NamesInbound License Agreements”).
(e, indicating for each Inbound License Agreement, the title and the parties thereto, except to the extent an Inbound License Agreement prohibits disclosure of its existence without consent of the relevant Third Party, which consent the Sellers were unable to reasonably obtain, in which case such agreement has been omitted from Section 4.5(f)(ii) of the Sellers Disclosure Schedule, but the number of such Inbound License Agreements that have taken commercially been omitted is set out in Section 4.5(f)(ii) of the Sellers Disclosure Schedule and the Sellers shall use reasonable measures efforts to protect provide such other information as reasonably requested by the confidentiality Purchaser regarding such Inbound License Agreements, the disclosure of which does not breach such prohibition. Section 4.5(f)(iii) of the Sellers Disclosure Schedule sets forth a list of all Trade Secrets included material Contracts (other than Patent Cross Licenses) under which the Sellers grant a license to a Third Party under Assigned Patents where the predominant purpose of the Contract is the grant of a Patent license (collectively, the “Outbound License Agreements”), indicating for each Outbound License Agreement the title and the parties thereto, except to the extent an Outbound License Agreement prohibits disclosure of its existence without consent of the relevant Third Party, which consent the Sellers were unable to reasonably obtain, in which case such agreement has been omitted from Section 4.5(f)(iii) of the Owned Intellectual Property and no material Trade Secrets Sellers Disclosure Schedule, but the number of such Outbound License Agreements that have been disclosed omitted is set out in Section 4.5(f)(iii) of the Sellers Disclosure Schedule and the Sellers shall use reasonable efforts to provide such other information as reasonably requested by Sellers to any Person except pursuant to written non-the Purchaser regarding such Outbound License Agreements, the disclosure agreements or other obligations of confidentiality, and, to Sellers’ Knowledge, there has which does not been a breach of any such agreement or obligation by any such Person.
(f) To Seller’s Knowledge, Sellers have obtained from each Person (including current and former employees and independent contractors) who has created or developed for or on behalf of Sellers any Owned Intellectual Property that is material to the Business a written, present and, valid assignment of such Intellectual Property to a Sellerprohibition.
(g) To the Knowledge of the Sellers’ Knowledge, in Section 4.5(g) of the past three (3) years, there has been no material unauthorized access to or material unauthorized use Sellers Disclosure Schedule sets forth a list of any confidential Open Source Software incorporated into any of the Products and, whenever possible, describes (i) the specific Open Source Software used; (ii) the specific Open Source Software version; (iii) the licensor(s) of the specific Open Source Software; and (iv) the Products or proprietary information or data that portions thereof into which such Open Source Software is both in Sellers’ possession or control and material to the Businessincorporated.
(h) With respect Notwithstanding any provision herein to any material Software included within the Transferred Intellectual Propertycontrary, to Sellers’ Knowledge (i) such Software is free from any material bugs, viruses or other malicious code, (ii) the Source Code for such Software has not been disclosed to any Third Party, and (iii) such Software does not contain, derive from or link to any open source Software in a manner that requires the disclosure of any proprietary Source Code, limits the ability to charge fees, or grants any license to any Third Party to make derivative works.
(i) Neither the execution, delivery or performance of this Agreement, nor the consummation Section 4.5 consists of the transactions contemplated by the Ancillary Agreements will result sole representation and warranty in the material loss or impairment this Agreement regarding non-infringement, non-violation and non-misappropriation of any of the Owned Intellectual Property.
(j) All third-party code that is incorporated into the proprietary Software included in the Transferred Intellectual Property and that is critical to the operation of such Software is commercially available (each a “Critical IP License” and collectively “Critical IP Licenses”), and following Closing, Buyer will be able to procure a license for all such third-party code for (i) an aggregate amount during the one-year period immediately following the Closing that shall not exceed the amount reflected for such third-party code in the Unaudited Financial Statements by more than $200,000, and (ii) an aggregate amount during the twelve (12) months period following the initial one-year period immediately following Closing that shall not exceed the amount reflected for such third-party code in the Unaudited Financial Statements by more than $200,000; provided that any increases in license fees resulting from a volume increase, additional licenses or other change in the operation of Business post Closing shall not be breaches of this representation.
(k) Buyer and Sellers agree that the representations and warranties included in this Section 4.09 shall be the sole and exclusive representations and warranties of Sellers with respect to Intellectual Property matters in this Agreement.
Appears in 2 contracts
Samples: Asset Sale Agreement (Nortel Networks LTD), Asset Sale Agreement (Nortel Networks LTD)
Intellectual Property. (a) Schedule 4.09(a) Section 3.13 of the Seller Disclosure Letter sets forth a true and complete list of all (i) Registered Intellectual Property registered and material unregistered Marks, issued Patents and registered Copyrights included in the Owned Transferred Intellectual Property, indicating including any pending applications to register any of the foregoing, identifying for each item the registration whether it is owned by or application number, the registration exclusively or application date, and the applicable filing jurisdiction and (ii) Owned Intellectual Property that is not registered but that is material non-exclusively licensed to the operation Seller.
(b) No registered Xxxx identified on Section 3.13 of the BusinessSeller Disclosure Letter has been during the last three years or is now involved in any opposition or cancellation proceeding and, to the Knowledge of the Seller, no such proceeding is or during the last three years has been threatened with respect to any of such Marks. Sellers No Patent identified on Section 3.13 of the Seller Disclosure Letter has been or is now involved in any interference, reissue or reexamination proceeding and, to the Knowledge of the Seller, no such proceeding is or has been threatened with respect thereto any of such Patents.
(c) The Seller exclusively own all, right, title and interest in all Owned Intellectual Propertyowns, free and clear of any and all Encumbrances (other than Permitted Encumbrances). Sellers are not bound by any outstanding judgment, injunction, order or decree or any contractual obligation materially restricting the use by a Seller all Transferred Intellectual Property identified on Section 3.13 of the Owned Seller Disclosure Letter and all other Transferred Intellectual Property, except for Transferred Intellectual Property that is licensed to the Seller by a third-party licensor pursuant to a written license agreement that remains in effect. The Seller has not received any notice or materially restricting claim challenging its ownership of any of the licensing thereof Transferred Intellectual Property owned (in whole or in part) by the Seller, nor to the Knowledge of the Seller is there a reasonable basis for any claim that it does not so own any of such Transferred Intellectual Property.
(d) The Seller has taken all reasonable steps in accordance with standard industry practices to protect its rights in the Transferred Intellectual Property and has taken all reasonable steps to maintain the confidentiality of all information that constitutes or constituted a Trade Secret included therein. No present or former employee, officer or director of the Seller, or agent, outside contractor or consultant of the Seller, holds any right, title or interest, directly or indirectly, in whole or in part, in or to any Person. With respect to Transferred Intellectual Property.
(e) All registered Marks, issued Patents and registered Copyrights identified on Section 3.13 of the Seller Disclosure Letter (“Seller Registered Intellectual Property included in the Owned Intellectual Property listed on Schedule 4.09(a), (iIP”) all such Registered Intellectual Property is are valid and subsisting and, to Sellers’ Knowledgethe Knowledge of the Seller, valid and enforceable, and the Seller has not received any notice or claim challenging the validity or enforceability of any Seller Registered IP or alleging any misuse of such Seller Registered IP. The Seller has not taken any action or failed to take any action and, to the Knowledge of the Seller, there are no facts or circumstances, that could reasonably be expected to result in the abandonment, cancellation, forfeiture, relinquishment, invalidation or unenforceability of any of the Seller Registered IP (ii) a Seller is including the owner failure to pay any filing, examination, issuance, post registration and maintenance fees, annuities and the like and fraud or the failure to disclose any known material prior art or other material facts in connection with the prosecution of record, and (iii) all maintenance fees and filings that are required to be made to maintain such Registered Intellectual Property have been timely made (taking into account any applicable grace periodspatent applications).
(bf) Schedule 4.09(b) sets forthThe development, manufacture, sale, distribution or at other commercial exploitation of products, and the Closing will set forthprovision of any services, a true by or on behalf of the Business or the Seller in connection with the Business, and complete list all of all the other activities or operations of the Business or the Seller in connection with the Business, have not infringed upon, misappropriated, violated, diluted or constituted the unauthorized use of, any Intellectual Property Licensesof any third-party, and the Seller has not received any notice or claim asserting or suggesting that any such infringement, misappropriation, violation, dilution or unauthorized use is or may be occurring or has or may have occurred, nor to the Knowledge of the Seller, is there a reasonable basis therefor. Except as set forth on Schedule 4.09(b)Section 3.13 of the Seller Disclosure Letter, Sellers have provided Buyer with true and complete copies of all such no Transferred Intellectual Property Licensesis subject to any outstanding order, judgment, decree, stipulation or agreement restricting the use or licensing thereof by the Seller or the Business. All such To the Knowledge of the Seller, no third-party is misappropriating, infringing, diluting or violating any Transferred Intellectual Property Licenses are, to Sellers’ Knowledge, valid, binding and enforceable between the applicable Seller and the other parties thereto, and Seller and, to Sellers’ Knowledge, such other parties are in compliance with the a material terms and conditions of such Intellectual Property Licensesrespect.
(cg) To Sellers’ KnowledgeThe Seller has not transferred ownership of, or granted any exclusive license with respect to, any Transferred Intellectual Property. Upon the consummation of the Closing, the Buyer shall succeed to all of the Seller’s rights and interest in or under all Transferred Intellectual Property and all other Intellectual Property used or held for use by the Seller in connection with the conduct of the Business that is necessary for the conduct of the Business as currently conducted does not infringe, misappropriate, dilute or otherwise violateconducted, and in all of the past three (3) years has not infringed, misappropriated or otherwise violated, any Seller’s rights under all Transferred Intellectual Property rights and all such other Intellectual Property shall be exercisable by the Buyer in all material respects to the same extent as by the Seller prior to the Closing. Except as listed on Section 3.13 of the Seller Disclosure Letter, no loss or expiration of any Third Party. Sellers have not received any notice that Sellers’ use of the Transferred Intellectual Property or any other Intellectual Property used or held for use by the Seller in connection with the conduct of the Business is threatened, pending or reasonably foreseeable.
(h) The Excluded Intellectual Property set forth on Section 2.2(c) of the Seller Disclosure Letter (the “Licensed Excluded IP”) constitutes the sole Excluded Intellectual Property that is or may be necessary to the conduct of the Business as currently conducted. The Seller exclusively owns, free and clear of any Encumbrances, the Licensed Excluded IP, and has the full and unrestricted right and authority to grant the licenses set forth in Section 5.22 hereunder. The Seller has not granted any license, covenant, option or other right to any third-party under any of the Licensed Excluded IP, nor is the use or exploitation of any Licensed Excluded IP (either by the Seller or any licensee of the Seller) restricted by the terms of any settlement agreement or other Contract. Neither (i) the Licensed Excluded IP, (ii) the license grant by the Seller to the Buyer of the Licensed Excluded IP as set forth in Section 5.22 hereunder, nor (iii) the use, development, sale or other exploitation of the Licensed Excluded IP in the conduct of the Business as currently conducted conducted, conflicts with, infringes, misappropriates, dilutes violates or otherwise violatesconstitutes unauthorized use of or will conflict with, or in the past three (3) years has infringedinfringe, misappropriated misappropriate, violate or otherwise violated, constitute unauthorized use of any Intellectual Property Rights or other proprietary right of any Third Party. No Proceedings are pending third-party.
(i) The Seller (i) takes reasonable measures, directly or indirectly, to ensure the confidentiality, privacy and no written notices have been received by Sellers security of customer, employee and other confidential information in connection with the Business and (ii) complies and has during the past three (3) years (or earliercomplied in all material respects with applicable data protection, if presently not resolved)privacy and similar Laws, directives and codes of practice in each case, alleging any infringement, misappropriation or other violation by Sellers of the Intellectual Property rights of any Third Party. Except as set forth in Schedule 4.09(c), to Sellers’ Knowledge, during the past three (3) years (or earlier, if presently not resolved) no Person has infringed, misappropriated, diluted or otherwise violated any of the Owned Intellectual Property or Transferred Technology, and no Seller has made or asserted any claim, demand or notice against any person or entity alleging any such infringement, misappropriation, dilution or other violation. There is no Proceeding pending or, to Sellers’ Knowledge, threatened, challenging a Seller’s ownership of any Owned Intellectual Property, or its right to use any Transferred Intellectual Property, or challenging the validity, registrability, or enforceability of any Registered Intellectual Property included in the Owned Intellectual Property.
(d) Sellers represent that they are, each as applicable, the registrant of record of each domain name as set forth in Schedule 4.09(d) (collectively, the “Domain Names”).
(e) Sellers have taken commercially reasonable measures to protect the confidentiality of all Trade Secrets included in the Owned Intellectual Property and no material Trade Secrets have been disclosed by Sellers jurisdiction relating to any Person except pursuant to written non-disclosure agreements or other obligations of confidentiality, and, to Sellers’ Knowledge, there has not been a breach of any such agreement or obligation data processed by any such Person.
(f) To Seller’s Knowledge, Sellers have obtained from each Person (including current and former employees and independent contractors) who has created or developed for or on behalf of Sellers any Owned Intellectual Property that is material to the Business a written, present and, valid assignment of such Intellectual Property to a Seller.
(g) To Sellers’ Knowledge, in the past three (3) years, there has been no material unauthorized access to or material unauthorized use of any confidential or proprietary information or data that is both in Sellers’ possession or control and material to the Business.
(hj) With respect to any The IT Assets owned, used or held for use by the Seller and included in the Purchased Assets operate and perform in all material Software included within respects in accordance with their documentation and functional specifications and otherwise as required by the Transferred Intellectual PropertySeller in connection with the Business. To the Knowledge of the Seller, to Sellers’ Knowledge (i) such Software is IT Assets are free from any material bugs, viruses software defects and do not contain any material “back door,” “time bomb,” “Trojan horse,” “worm,” “virus” or other malicious codesoftware routine or hardware component that causes the software or any portion thereof to be erased, (ii) inoperable or otherwise incapable of being used, either automatically, with the Source Code for such Software passage of time or upon command by any Person. The Seller has not been disclosed to any Third Party, implemented commercially reasonable backup and (iii) such Software does not contain, derive from or link to any open source Software in a manner that requires the disclosure of any proprietary Source Code, limits the ability to charge fees, or grants any license to any Third Party to make derivative worksdisaster recovery technology.
(i) Neither the execution, delivery or performance of this Agreement, nor the consummation of the transactions contemplated by the Ancillary Agreements will result in the material loss or impairment of any of the Owned Intellectual Property.
(j) All third-party code that is incorporated into the proprietary Software included in the Transferred Intellectual Property and that is critical to the operation of such Software is commercially available (each a “Critical IP License” and collectively “Critical IP Licenses”), and following Closing, Buyer will be able to procure a license for all such third-party code for (i) an aggregate amount during the one-year period immediately following the Closing that shall not exceed the amount reflected for such third-party code in the Unaudited Financial Statements by more than $200,000, and (ii) an aggregate amount during the twelve (12) months period following the initial one-year period immediately following Closing that shall not exceed the amount reflected for such third-party code in the Unaudited Financial Statements by more than $200,000; provided that any increases in license fees resulting from a volume increase, additional licenses or other change in the operation of Business post Closing shall not be breaches of this representation.
(k) Buyer and Sellers agree that the representations and warranties included in this Section 4.09 shall be the sole and exclusive representations and warranties of Sellers with respect to Intellectual Property matters in this Agreement.
Appears in 2 contracts
Samples: Asset Purchase Agreement (BOVIE MEDICAL Corp), Asset Purchase Agreement (BOVIE MEDICAL Corp)
Intellectual Property. (a) Schedule 4.09(a) sets forth a true and complete list of all (i) Registered Intellectual Property included in the Owned Intellectual Property, indicating for each item the registration or application number, the registration or application date, and the applicable filing jurisdiction and (ii) Owned Intellectual Property that is not registered but that is material to the operation of the Business. Sellers exclusively own all, right, title and interest in all Owned Intellectual PropertyBullion owns, free and clear of all Encumbrances security interests, or has the valid right to use all Intellectual Property used by it in its business as currently conducted and as proposed to be conducted. Except as disclosed in Schedule 4.1(bb) of the Bullion Disclosure Letter, no other Person (other than Permitted Encumbrances). Sellers are not bound by any outstanding judgmentlicensors of software that is generally commercially available, injunction, order or decree or any contractual obligation materially restricting licensors of Intellectual Property under the use by a Seller agreements disclosed pursuant to paragraph (v) below and licensees of the Owned Intellectual PropertyProperty of Bullion disclosed pursuant to paragraph (iv) below) has any rights to any of the Intellectual Property owned or used by Bullion, and, to Bullion’s knowledge, no other Person is infringing, violating or materially restricting misappropriating any of the licensing thereof to Intellectual Property that Bullion owns.
(ii) To Bullion’s knowledge: (x) none of the activities or business conducted by Bullion or its Subsidiaries constitutes a misappropriation of (or in the past constituted a misappropriation of) any Intellectual Property of any other Person; and (y) none of the activities or business conducted by Bullion or its Subsidiaries infringes or violates (or in the past infringed or violated) any Intellectual Property of any Person. With respect to To Bullion’s knowledge, none of the Registered Intellectual Property included in the Owned Intellectual Property listed on Schedule 4.09(a), (i) all such Registered Intellectual Property is subsisting and, to Sellers’ Knowledge, valid and enforceable, (ii) a Seller is the owner of record, and (iii) all maintenance fees and filings that are required activities or business proposed to be made to maintain such Registered Intellectual Property have been timely made (taking into account any applicable grace periods).
(b) Schedule 4.09(b) sets forthconducted by Bullion or its Subsidiaries will infringe, violate, or at the Closing will set forth, constitute a true and complete list of all Intellectual Property Licenses. Except as set forth on Schedule 4.09(b), Sellers have provided Buyer with true and complete copies of all such Intellectual Property Licenses. All such Intellectual Property Licenses are, to Sellers’ Knowledge, valid, binding and enforceable between the applicable Seller and the other parties thereto, and Seller and, to Sellers’ Knowledge, such other parties are in compliance with the material terms and conditions of such Intellectual Property Licenses.
(c) To Sellers’ Knowledge, the conduct of the Business as currently conducted does not infringe, misappropriate, dilute or otherwise violate, and in the past three (3) years has not infringed, misappropriated or otherwise violatedmisappropriation of, any Intellectual Property rights of any Third Partyother Person. Sellers have not To Bullion’s knowledge, neither Bullion nor any of its Subsidiaries has received any complaint, claim or notice that Sellers’ use of the Transferred Intellectual Property in the conduct of the Business as currently conducted infringes, misappropriates, dilutes or otherwise violates, or in the past three (3) years has infringed, misappropriated or otherwise violated, any Intellectual Property Rights of any Third Party. No Proceedings are pending and no written notices have been received by Sellers during the past three (3) years (or earlier, if presently not resolved), in each case, alleging any infringement, violation or misappropriation of any Intellectual Property of any Person, and, to the knowledge of Bullion, there is no basis for any such complaint, claim or other violation by Sellers notice.
(iii) Neither Bullion nor any of its Subsidiaries has received any written communication (excluding communications from national or regional patent offices) challenging the inventorship, validity, enforceability or ownership of any Intellectual Property, and to Bullion’s knowledge, there is no reasonable basis for such challenge. To Bullion’s knowledge, all Intellectual Property identified on Schedule 4.1(bb) of the Bullion Disclosure Letter is valid and enforceable. Schedule 4.1(bb) of the Bullion Disclosure Letter identifies Intellectual Property rights owned by Bullion that was developed using any federal or university funding, resources or staff, and identifies Intellectual Property owned by Bullion to which any government entity or university has any rights.
(iv) Schedule 4.1(bb) of any Third Partythe Bullion Disclosure Letter identifies each patent, patent application, copyright registration, copyright application, trademark registration, and trademark application that is owned, free and clear of all security interests, by Bullion. Except as set forth in Schedule 4.09(c), to Sellers’ Knowledge, during the past three (34.1(bb) years (or earlier, if presently not resolved) no Person has infringed, misappropriated, diluted or otherwise violated any of the Owned Intellectual Property or Transferred TechnologyBullion Disclosure Letter, each patent, patent application, copyright registration, copyright application, trademark registration, and no Seller trademark application identified on Schedule 4.1(bb) of the Bullion Disclosure Letter is owned exclusively by Bullion. Schedule 4.1(bb) of the Bullion Disclosure Letter identifies each patent, patent application, copyright registration, copyright application, trademark registration, and trademark application that is exclusively licensed to Bullion. Schedule 4.1(bb) of the Bullion Disclosure Letter identifies each patent, patent application, copyright registration, copyright application, trademark registration, and trademark application, other than those identified in Schedules 4.1(bb) of the Bullion Disclosure Letter and hereto, in which Bullion has made or asserted any claimrights, demand or notice against any person or entity alleging any along with a description of such infringement, misappropriation, dilution rights. Schedule 4.1(bb) of the Bullion Disclosure Letter identifies each license or other violation. There is no Proceeding pending oragreements pursuant to which Bullion has granted any option, license or other rights to Sellers’ Knowledge, threatened, challenging a Seller’s ownership of any Owned Intellectual Property, or its right third party with respect to use any Transferred Intellectual Property, or challenging the validity, registrability, or enforceability of any Registered Intellectual Property included in the Owned Intellectual Property.
(dv) Sellers represent Schedule 4.1(bb) of the Bullion Disclosure Letter identifies each agreement with a third party pursuant to which Bullion obtains rights to Intellectual Property (other than software that they areis generally commercially available) that is owned by a party other than Bullion (“Third Party Agreements”). Bullion is in compliance, in all material respects, with all Third Party Agreements, each as applicableof which are valid and in full force and effect, and to Bullion’s knowledge, has not received any notice of breach or violation by Bullion of any terms of a Third Party Agreement, and to Bullion’s knowledge, there is no basis for any such notice. Bullion has met any milestone required to be met by Bullion in order for Bullion to maintain the registrant full benefit of record of each domain name its rights under any Third Party Agreement (with respect to those milestones with a deadline at or before the date hereof). Except as set forth in Schedule 4.09(d4.1(bb) (collectivelyof the Bullion Disclosure Letter, the “Domain Names”).
(e) Sellers have taken other than license fees for software that is generally commercially reasonable measures available, Bullion is not obligated to protect the confidentiality of all Trade Secrets included in the Owned Intellectual Property and no material Trade Secrets have been disclosed by Sellers pay any royalties or other compensation to any Person except pursuant to written non-disclosure agreements third party in respect of the ownership, use or other obligations of confidentiality, and, to Sellers’ Knowledge, there has not been a breach license of any such agreement or obligation by any such Person.
(f) To Seller’s Knowledge, Sellers have obtained from each Person (including current and former employees and independent contractors) who has created or developed for or on behalf of Sellers any Owned Intellectual Property that is material to the Business a written, present and, valid assignment of such Intellectual Property to a Seller.
(g) To Sellers’ Knowledge, in the past three (3) years, there has been no material unauthorized access to or material unauthorized use of any confidential or proprietary information or data that is both in Sellers’ possession or control and material to the Business.
(h) With respect to any material Software included within the Transferred Intellectual Property, to Sellers’ Knowledge (i) such Software is free from any material bugs, viruses or other malicious code, (ii) the Source Code for such Software has not been disclosed to any Third Party, and (iii) such Software does not contain, derive from or link to any open source Software in a manner that requires the disclosure of any proprietary Source Code, limits the ability to charge fees, or grants any license to any Third Party to make derivative works.
(i) Neither the execution, delivery or performance of this Agreement, nor the consummation of the transactions contemplated by the Ancillary Agreements will result in the material loss or impairment of any of the Owned Intellectual Property.
(jvi) All third-party code that is incorporated into the proprietary Software included Bullion has taken reasonable precautions (x) to protect its rights in the Transferred its Intellectual Property and that is critical (y) to maintain the operation confidentiality of such Software is commercially available (each a “Critical IP License” its trade secrets, know-how and collectively “Critical IP Licenses”)other confidential Intellectual Property, and following Closingthere have been no acts or omissions (other than those made based on reasonable, Buyer will good faith business decisions) by the officers, directors, shareholders and employees of Bullion the result of which would be able to procure a license materially compromise the rights of Bullion to apply for all such third-party code for (i) an aggregate amount during the one-year period immediately following the Closing that shall not exceed the amount reflected for such third-party code in the Unaudited Financial Statements by more than $200,000, and (ii) an aggregate amount during the twelve (12) months period following the initial one-year period immediately following Closing that shall not exceed the amount reflected for such third-party code in the Unaudited Financial Statements by more than $200,000; provided that or enforce appropriate legal protection of any increases in license fees resulting from a volume increase, additional licenses or other change in the operation Intellectual Property of Business post Closing shall not be breaches of this representationBullion.
(kvii) Buyer and Sellers agree that Except as set forth in Schedule 4.1(bb) of the representations and warranties included in this Section 4.09 shall be Bullion Disclosure Letter, all of the sole and exclusive representations and warranties of Sellers with respect to Intellectual Property matters purported to be developed and owned by Bullion has been created by employees or independent contractors of Bullion who have executed agreements expressly assigning all right, title and interest in this Agreementsuch Intellectual Property to Bullion. Except as set forth in Schedule 4.1(bb) of the Bullion Disclosure Letter, no portion of the Intellectual Property was jointly developed with any third party. Except as set forth in Schedule 4.1(bb) of the Bullion Disclosure Letter, no Bullion employee or consultant is subject to or otherwise restricted by any employment, nondisclosure, assignment of inventions, non- solicitation of employees, or non-competition agreement between such employee or consultant and a third party. Each former and current Bullion employee, and each former and current Bullion consultant, has executed written confidential information and invention assignment agreements containing appropriate confidentiality provisions, and invention assignment provisions assigning to Bullion all related Intellectual Property developed by them in the course of their employment or consultant relationship with Bullion.
Appears in 2 contracts
Samples: Merger Agreement (Eurasian Minerals Inc), Merger Agreement (Bullion Monarch Mining, Inc. (NEW))
Intellectual Property. (a) Schedule 4.09(aAll Patents or other Intellectual Property Rights that are material Registered Intellectual Property owned by or registered in the name of Parent or any of its Subsidiaries are owned or exclusively licensed by Parent or one or more of its Subsidiaries free and clear of any Liens (excluding any non-exclusive licenses entered into in the ordinary course of business). To the Knowledge of Parent, all material Parent Intellectual Property Rights are, and following the transactions contemplated hereby shall be, valid and enforceable and freely exercisable, transferable, licensable and alienable without the consent of, or notice or payment of any kind to any Governmental Authority or third party. Neither Parent nor any of its Subsidiaries knows of any third party who claims to own or exclusively license any Parent Intellectual Property Rights.
(b) sets forth To the Knowledge of Parent, neither Parent nor any of its Subsidiaries has, in the conduct of the business of Parent and its Subsidiaries as currently conducted infringed upon, violated or used without authorization or license, any material Intellectual Property Right owned by any third Person. To Parent’s Knowledge, Parent and its Subsidiaries have sufficient rights to all Intellectual Property Rights used in or necessary for the conduct of Parent’s and its Subsidiaries’ respective businesses as currently conducted and contemplated by Parent to be conducted. There is no pending or, to Parent’s Knowledge, threatened suit, arbitration or other adversarial proceeding before any court, government agency or arbitral tribunal, or in any jurisdiction, against Parent or any of its Subsidiaries, alleging that any activity, product or conduct of Parent’s or any of its Subsidiaries’ business infringes or will infringe upon, violate or constitute the unauthorized use of any Intellectual Property Right of any third Person, or challenging the ownership, validity, or enforceability of any Parent Intellectual Property Right. Neither Parent nor any of its Subsidiaries is party to any settlement, covenant not to xxx, consent, decree, stipulation, judgment, or order resulting from any suit, action or similar legal proceeding, or any other Contract, that (i) materially restricts Parent’s or any of its Subsidiaries’ rights to use, license or transfer any material Parent Intellectual Property Right, or (ii) compels or requires Parent or any of its Subsidiaries to license or transfer any material Parent Intellectual Property Right, except in the case of this clause (ii) as would not reasonably be expected to have, individually or in the aggregate, a true material and negative effect on Parent and its Subsidiaries, taken as a whole. Neither Parent nor any of its Subsidiaries knows of the infringement, misappropriation or violation of any Parent Intellectual Property Right.
(c) As of the date hereof, there is no pending claim, suit, arbitration or other adversarial proceeding before any court, Governmental Authority or arbitral tribunal brought by Parent or any of its Subsidiaries against any third party with respect to any Parent Intellectual Property Right, which remain unresolved as of the date hereof.
(d) Section 4.12(d) of the Parent Disclosure Letter contains a complete and accurate list of all Contracts currently in effect pursuant to which a third party has licensed to Parent or any of its Subsidiaries: (i) Registered exclusive rights to any Intellectual Property included in the Owned Intellectual PropertyRight, indicating for each item the registration or application number, the registration or application date, and the applicable filing jurisdiction and (ii) Owned non-exclusive rights to any Intellectual Property that is not registered but Right that is material to the operation business of the Business. Sellers exclusively own all, right, title and interest in all Owned Intellectual Property, free and clear Parent or any of all Encumbrances (its Subsidiaries other than Permitted Encumbrances). Sellers are not bound by any outstanding judgment, injunction, order or decree or any contractual obligation materially restricting the use by a Seller of the Owned Intellectual Property, or materially restricting the licensing thereof to any Person. With Contracts with respect to the Registered Intellectual Property included commercially available Technology (those Contracts listed in the Owned Intellectual Property listed on Schedule 4.09(a), (i) all such Registered Intellectual Property is subsisting and, to Sellers’ Knowledge, valid and enforceable, or (ii) a Seller is the owner of record, and (iii) all maintenance fees and filings that are required to be made to maintain such Registered Intellectual Property have been timely made (taking into account any applicable grace periods).
(b) Schedule 4.09(b) sets forth, or at the Closing will set forth, a true and complete list of all Intellectual Property Licenses. Except as set forth on Schedule 4.09(b), Sellers have provided Buyer with true and complete copies of all such Intellectual Property “Parent In Licenses. All such Intellectual Property Licenses are, to Sellers’ Knowledge, valid, binding and enforceable between the applicable Seller and the other parties thereto, and Seller and, to Sellers’ Knowledge, such other parties are in compliance with the material terms and conditions of such Intellectual Property Licenses.
(c) To Sellers’ Knowledge, the conduct of the Business as currently conducted does not infringe, misappropriate, dilute or otherwise violate, and in the past three (3) years has not infringed, misappropriated or otherwise violated, any Intellectual Property rights of any Third Party. Sellers have not received any notice that Sellers’ use of the Transferred Intellectual Property in the conduct of the Business as currently conducted infringes, misappropriates, dilutes or otherwise violates, or in the past three (3) years has infringed, misappropriated or otherwise violated, any Intellectual Property Rights of any Third Party. No Proceedings are pending and no written notices have been received by Sellers during the past three (3) years (or earlier, if presently not resolved), in each case, alleging any infringement, misappropriation or other violation by Sellers of the Intellectual Property rights of any Third Party. Except as set forth in Schedule 4.09(c), to Sellers’ Knowledge, during the past three (3) years (or earlier, if presently not resolved) no Person has infringed, misappropriated, diluted or otherwise violated any of the Owned Intellectual Property or Transferred Technology, and no Seller has made or asserted any claim, demand or notice against any person or entity alleging any such infringement, misappropriation, dilution or other violation. There is no Proceeding pending or, to Sellers’ Knowledge, threatened, challenging a Seller’s ownership of any Owned Intellectual Property, or its right to use any Transferred Intellectual Property, or challenging the validity, registrability, or enforceability of any Registered Intellectual Property included in the Owned Intellectual Property.
(d) Sellers represent that they are, each as applicable, the registrant of record of each domain name as set forth in Schedule 4.09(d) (collectively, the “Domain Names”).
(e) Sellers have taken commercially reasonable measures to protect Section 4.12(e) of the confidentiality Parent Disclosure Letter contains a complete and accurate list of all Trade Secrets included Contracts currently in effect pursuant to which Parent or any of its Subsidiaries has granted to a third Person or Affiliate: (i) any exclusive right or license to any Parent Intellectual Property Right, and (ii) any non-exclusive right or license to any material Parent Intellectual Property other than non-exclusive licenses granted in the Owned Intellectual Property ordinary course of business (those Contracts listed in (i) or (ii), “Parent Out Licenses,” and no material Trade Secrets have been disclosed by Sellers to any Person except pursuant to written non-disclosure agreements or other obligations of confidentialitytogether with the Parent In Licenses, and, to Sellers’ Knowledge, there has not been a breach of any such agreement or obligation by any such Personthe “Parent IP Licenses”).
(f) To Seller’s Knowledgethe Knowledge of Parent, Sellers have obtained from each Person (including current and former employees and independent contractors) who has created or developed for or on behalf neither Parent nor any of Sellers its Subsidiaries, nor any Owned Intellectual Property other party to a Parent IP License, is in material breach of any Parent IP License that is material to the Business business of Parent and its Subsidiaries, taken as a written, present and, valid assignment of such Intellectual Property to a Sellerwhole.
(g) To Sellers’ KnowledgeExcept as would not reasonably be expected to have, individually or in the past three aggregate, a material and negative effect on Parent and its Subsidiaries, taken as a whole, neither Parent nor any of its Subsidiaries has distributed any software under an Open Source License in a manner that would require any software that is owned by Parent or any Affiliate to (3i) yearsbe disclosed or distributed in source code form, there has been (ii) be licensed for the purpose of making derivative works, (iii) be redistributed, hosted or otherwise made available at no or minimal charge, or (iv) be licensed, sold or otherwise made available on terms that (A) limit in any manner the ability to charge license fees or otherwise seek compensation in connection with the marketing, licensing or distribution of that software or (B) grant the right to decompile, disassemble, reverse engineer or otherwise derive the source code or underlying structure of that software. Parent and its Subsidiaries are in compliance in all material unauthorized access respects with all Open Source Licenses to or material unauthorized use which they are subject (other than inadvertent omission of any confidential applicable copyright notice, warranty obligation or proprietary information or data that is both in Sellers’ possession or control and material to the Businessattribution requirement).
(h) With respect to any material Software included within Section 4.12(h) of the Transferred Intellectual PropertyParent Disclosure Letter contains a complete and correct list of each standards setting organization, to Sellers’ Knowledge (i) such Software is free from any material bugsuniversity or industry body, viruses consortium, or other malicious code, (ii) the Source Code for such Software has not been disclosed to multi-party special interest group in which Parent or any Third Party, and (iii) such Software does not contain, derive from or link to any open source Software in a manner that requires the disclosure of any proprietary Source Code, limits the ability to charge feesits Subsidiaries is currently participating, or grants in which Parent or any license to any Third Party to make derivative works.
(i) Neither the execution, delivery or performance of this Agreement, nor the consummation of the transactions contemplated by the Ancillary Agreements will result its Subsidiaries has participated in the material loss or impairment of past, including any of the Owned Intellectual Property.
foregoing that may be organized, funded, sponsored, formed or operated, in whole or in part, by any Governmental Authority (j) All third-party code each, a “Parent SIG”). Neither Parent nor any of its Subsidiaries has made any submission to, nor is subject to any agreement with, any Parent SIG that is incorporated into the proprietary Software included in the Transferred would obligate Parent or any of its Subsidiaries to grant exclusive licenses to or otherwise materially impair or materially limit its control of any material Parent Intellectual Property and that is critical to the operation of such Software is commercially available (each a “Critical IP License” and collectively “Critical IP Licenses”), and following Closing, Buyer will be able to procure a license for all such third-party code for (i) an aggregate amount during the one-year period immediately following the Closing that shall not exceed the amount reflected for such third-party code in the Unaudited Financial Statements by more than $200,000, and (ii) an aggregate amount during the twelve (12) months period following the initial one-year period immediately following Closing that shall not exceed the amount reflected for such third-party code in the Unaudited Financial Statements by more than $200,000; provided that any increases in license fees resulting from a volume increase, additional licenses or other change in the operation of Business post Closing shall not be breaches of this representationRight.
(k) Buyer and Sellers agree that the representations and warranties included in this Section 4.09 shall be the sole and exclusive representations and warranties of Sellers with respect to Intellectual Property matters in this Agreement.
Appears in 2 contracts
Samples: Merger Agreement (Entropic Communications Inc), Merger Agreement (Maxlinear Inc)
Intellectual Property. (a) Schedule 4.09(a3.17(a)(1) sets forth contains a true and complete list of all (i) Registered each of the registrations, applications and other material Intellectual Property included in the Owned Intellectual Property, indicating for each item the registration or application number, the registration or application date, and the applicable filing jurisdiction and (ii) Owned Intellectual Property that is not registered but that is material to the operation of the Business. Sellers exclusively own all, right, title and interest in all Owned Intellectual Property, free and clear of all Encumbrances (other than Permitted Encumbrances). Sellers are not bound by any outstanding judgment, injunction, order or decree or any contractual obligation materially restricting the use by a Seller of the Owned Intellectual Property, or materially restricting the licensing thereof to any Person. With respect to the Registered Intellectual Property Rights included in the Owned Intellectual Property listed on Rights. Schedule 4.09(a), (i3.17(a)(2) all such Registered Intellectual Property is subsisting and, to Sellers’ Knowledge, valid and enforceable, (ii) a Seller is the owner of record, and (iii) all maintenance fees and filings that are required to be made to maintain such Registered Intellectual Property have been timely made (taking into account any applicable grace periods).
(b) Schedule 4.09(b) sets forth, or at the Closing will set forth, contains a true and complete list of all the Licensed Intellectual Property LicensesRights reasonably necessary to conduct the Business as currently conducted.
(b) The Licensed Intellectual Property Rights and the Owned Intellectual Property Rights together constitute all the Intellectual Property Rights reasonably necessary to conduct the Business as currently conducted. Except as set forth on Schedule 4.09(b3.17(b)(1), Sellers have provided Buyer with true and complete copies there exist no restrictions on the disclosure, use or transfer of all such the Owned Intellectual Property Licenses. All such Intellectual Property Licenses are, to Sellers’ Knowledge, valid, binding and enforceable between the applicable Seller and the other parties thereto, and Seller and, to Sellers’ Knowledge, such other parties are in compliance with the material terms and conditions of such Intellectual Property Licenses.
(c) To Sellers’ Knowledge, the conduct of the Business as currently conducted does not infringe, misappropriate, dilute or otherwise violate, and in the past three (3) years has not infringed, misappropriated or otherwise violated, any Intellectual Property rights of any Third Party. Sellers have not received any notice that Sellers’ use of the Transferred Intellectual Property in the conduct of the Business as currently conducted infringes, misappropriates, dilutes or otherwise violates, or in the past three (3) years has infringed, misappropriated or otherwise violated, any Intellectual Property Rights of any Third Party. No Proceedings are pending and no written notices have been received by Sellers during the past three (3) years (or earlier, if presently not resolved), in each case, alleging any infringement, misappropriation or other violation by Sellers of the Intellectual Property rights of any Third PartyRights. Except as set forth in on Schedule 4.09(c3.17(b)(2), to Sellers’ Knowledge, during the past three (3) years (or earlier, if presently not resolved) no Person has infringed, misappropriated, diluted or otherwise violated any of the Owned Intellectual Property or Transferred Technology, and no Seller has made or asserted any claim, demand or notice against any person or entity alleging any such infringement, misappropriation, dilution or other violation. There is no Proceeding pending or, to Sellers’ Knowledge, threatened, challenging a Seller’s ownership of any Owned Intellectual Property, or its right to use any Transferred Intellectual Property, or challenging the validity, registrability, or enforceability of any Registered Intellectual Property included in the Owned Intellectual Property.
(d) Sellers represent that they are, each as applicable, the registrant of record of each domain name as set forth in Schedule 4.09(d) (collectively, the “Domain Names”).
(e) Sellers have taken commercially reasonable measures to protect the confidentiality of all Trade Secrets included in the Owned Intellectual Property and no material Trade Secrets have been disclosed by Sellers to any Person except pursuant to written non-disclosure agreements or other obligations of confidentiality, and, to Sellers’ Knowledge, there has not been a breach of any such agreement or obligation by any such Person.
(f) To Seller’s Knowledge, Sellers have obtained from each Person (including current and former employees and independent contractors) who has created or developed for or on behalf of Sellers any Owned Intellectual Property that is material to the Business a written, present and, valid assignment of such Intellectual Property to a Seller.
(g) To Sellers’ Knowledge, in the past three (3) years, there has been no material unauthorized access to or material unauthorized use of any confidential or proprietary information or data that is both in Sellers’ possession or control and material to the Business.
(h) With respect to any material Software included within the Transferred Intellectual Property, to Sellers’ Knowledge (i) such Software is free from any material bugs, viruses or other malicious code, (ii) the Source Code for such Software has not been disclosed to any Third Party, and (iii) such Software does not contain, derive from or link to any open source Software in a manner that requires the disclosure of any proprietary Source Code, limits the ability to charge fees, or grants any license to any Third Party to make derivative works.
(i) Neither the execution, delivery or performance of this Agreement, nor the consummation of the transactions contemplated by this Agreement will not alter, impair or extinguish any Owned Intellectual Property Rights or Licensed Intellectual Property Rights. Notwithstanding any disclosure on Schedule 3.17(b)(1), Seller and the Ancillary Agreements will result Members shall still be liable with respect to any claim that a Customer may bring in connection with any rights such Customer may have in the material loss Owned Intellectual Property Rights, such claim to be treated for all purposes under this Agreement as an Excluded Liability.
(c) None of Seller and any Affiliate of Seller has given to any Person an indemnity in connection with any Intellectual Property Right, other than indemnities that arise under a standard form sales contract used in the Business, a copy of which is attached in Schedule 3.17(c).
(d) The Purchased Assets do not infringe, misappropriate or impairment otherwise violate any Intellectual Property Right of any third person. There is no claim, action, suit, investigation or proceeding pending against, or, to the Knowledge of Seller, threatened against, Seller or any present or former officer, director or employee of Seller (i) based upon, or challenging or seeking to deny or restrict, the rights of Seller or any Affiliate of Seller in any of the Owned Intellectual PropertyProperty Rights and, to the actual Knowledge of Seller, the Licensed Intellectual Property Rights, (ii) alleging that the Use of the Owned Intellectual Property Rights misappropriates, infringes or otherwise violates any Intellectual Property Right of any third party or (iii) alleging that Seller or any Affiliate of Seller infringed, misappropriated or otherwise violated any Intellectual Property Right of any third party. Except as set forth in Section 3.17(d), none of Seller and any Affiliate of Seller has received from any third party an offer to license any Intellectual Property Rights of such third party for use in the Business.
(e) None of the Owned Intellectual Property Rights material to the operation of the Business has been adjudged invalid or unenforceable in whole or part, and, to the Knowledge of Seller, all such Owned Intellectual Property Rights are valid and enforceable.
(f) Seller or an Affiliate of Seller holds all right, title and interest in and to all Owned Intellectual Property Rights listed on Schedule 3.17(a)(1) free and clear of any Lien. In each case where a patent or patent application, trademark registration or trademark application, service xxxx registration or service xxxx application, or copyright registration or copyright application included in the Owned Intellectual Property is held by assignment, the assignment has been duly recorded with the governmental authority from which the patent or registration issued or before which the application or application for registration is pending. Seller or an Affiliate of Seller has taken all commercially reasonable actions necessary to maintain and protect the Owned Intellectual Property Rights and their rights in the Licensed Intellectual Property Rights, including payment of applicable maintenance fees and filing of applicable statements of use.
(g) To the Knowledge of Seller, no Person has infringed, misappropriated or otherwise violated any Owned Intellectual Property Right. Seller has taken reasonable steps in accordance with normal industry practice to maintain the confidentiality of all confidential Intellectual Property Rights. Except as described in Schedule 3.17(g), none of the Intellectual Property Rights that are material to Seller or the Business and the value of which to the Business is contingent upon maintaining the confidentiality thereof, has been disclosed other than to employees, representatives and agents of Seller or an Affiliate of Seller all of whom are bound by written confidentiality agreements substantially in the form previously disclosed to Buyer.
(h) Seller has taken reasonable steps in accordance with normal industry practice to preserve and maintain reasonably complete notes and records relating to the Owned Intellectual Property Rights.
(i) As of the Closing Date and to the Knowledge of Seller, with respect to pending applications and applications for registration of the Owned Intellectual Property Rights that are material to Seller or the Business, Seller is not aware of any reason that could reasonably be expected to prevent any such application or application for registration from being granted. To the Knowledge of Seller, none of the trademarks, service marks, applications for trademarks and applications for service marks included in the Owned Intellectual Property Rights that are material to the Business has been the subject of an opposition or cancellation procedure. To the Knowledge of Seller, none of the patents and patent applications included in the Owned Intellectual Property Rights that are material to the Business has been the subject of an interference, protest, public use proceeding or third party reexamination request.
(j) All third-party code that is incorporated into Products sold or provided by Seller or an Affiliate of Seller, or any licensee of Seller or an Affiliate of Seller, in connection with the proprietary Software Business and covered by a patent, trademark or copyright included in the Transferred Owned Intellectual Property and that is critical Rights have been marked with the notice (applicable as of the date hereof) of all nations requiring such notice in order to the operation of such Software is commercially available (each a “Critical IP License” and collectively “Critical IP Licenses”), and following Closing, Buyer will be able to procure a license for all such third-party code for (i) an aggregate amount during the one-year period immediately following the Closing that shall not exceed the amount reflected for such third-party code in the Unaudited Financial Statements by more than $200,000, and (ii) an aggregate amount during the twelve (12) months period following the initial one-year period immediately following Closing that shall not exceed the amount reflected for such third-party code in the Unaudited Financial Statements by more than $200,000; provided that any increases in license fees resulting from a volume increase, additional licenses or other change in the operation of Business post Closing shall not be breaches of this representationcollect damages.
(k) Buyer and Sellers agree that the representations and warranties included in this Section 4.09 shall be the sole and exclusive representations and warranties of Sellers with respect to Intellectual Property matters in this Agreement.
Appears in 2 contracts
Samples: Asset Purchase Agreement (Veramark Technologies Inc), Asset Purchase Agreement (Veramark Technologies Inc)
Intellectual Property. (a) Schedule 4.09(aSection 3.13(a) of the Seller Disclosure Letter sets forth a true complete and complete accurate list of all (i) Registered Intellectual Property included in the Owned Intellectual Propertyregistrations and applications constituting Transferred IP. Seller, indicating for each item the registration a Selling Subsidiary or application numbera Transferred Subsidiary, the registration or application dateas applicable, and the applicable filing jurisdiction and (ii) Owned Intellectual Property that is not registered but that is material to the operation of the Business. Sellers exclusively own all, right, title and interest in all Owned Intellectual Propertysolely owns, free and clear of all Encumbrances (other than Permitted Encumbrances). Sellers are not bound by any outstanding judgment, injunction, order or decree or any contractual obligation materially restricting the use by a Seller Encumbrances all of the Owned Transferred IP. Other than Seller, the Selling Subsidiaries and the Transferred Subsidiaries, no Affiliate of the Seller owns any Intellectual Property, or materially restricting the licensing thereof to any Person. With respect Property exclusively relating to the Registered Intellectual Property included Business. There is no Action pending or threatened in writing that challenges the Owned Intellectual Property listed on Schedule 4.09(a)validity, (i) all such Registered Intellectual Property is subsisting andenforceability, to Sellers’ Knowledgeregistration, valid and enforceable, (ii) a Seller is the owner ownership or use of record, and (iii) all maintenance fees and filings that are required to be made to maintain such Registered Intellectual Property have been timely made (taking into account any applicable grace periods)Transferred IP.
(b) Schedule 4.09(b) sets forth, or at To the Closing will set forth, a true and complete list Knowledge of all Intellectual Property Licenses. Except as set forth on Schedule 4.09(b), Sellers have provided Buyer with true and complete copies of all such Intellectual Property Licenses. All such Intellectual Property Licenses are, to Sellers’ Knowledge, valid, binding and enforceable between the applicable Seller and the other parties thereto, and Seller and, to Sellers’ Knowledge, such other parties are in compliance with the material terms and conditions of such Intellectual Property Licenses.
(c) To Sellers’ KnowledgeSeller, the conduct of the Business as currently conducted does not infringe, misappropriate, dilute or otherwise violate, and in the past three (3) years has not since June 30, 2015 infringed, misappropriated misappropriated, diluted or otherwise violated, any Intellectual Property rights of any Third PartyPerson. Sellers have not received Neither Seller nor any notice that Sellers’ use of the Selling Subsidiaries or the Transferred Intellectual Property Subsidiaries, is engaged in any outstanding dispute under which it is alleged that the conduct of the Business as currently conducted infringesinfringes the Intellectual Property of any Person. To the Knowledge of Seller, misappropriatesno Person is infringing, dilutes misappropriating, diluting or otherwise violatesviolating the Transferred IP in any material respect. All Transferred IP including, or in without limitation, the past three items on Section 3.13(a) of the Seller Disclosure Letter are subsisting and, to the Knowledge of Seller, valid and enforceable.
(3c) years has infringedThe Transferred IP and the Intellectual Property licensed under the Assumed Contracts to Seller, misappropriated or otherwise violatedthe Selling Subsidiaries and the Transferred Subsidiaries, along with any Intellectual Property Rights provided to Purchaser pursuant to the Transition Services Agreement or any other Closing Agreement, comprises all Intellectual Property necessary or used to operate and conduct the Business immediately following the Closing, in all material respects, as conducted in the ordinary course of business in the twelve-month period ended June 30, 2018 except as set forth on Section 3.13(c) of the Seller Disclosure Letter. None of Seller, the Selling Subsidiaries, or the Transferred Subsidiaries or, to the Knowledge of Seller, any other party to a Contract relating to the Business pursuant to which Intellectual Property is either (i) licensed to Seller, a Selling Subsidiary or a Transferred Subsidiary, or (ii) licensed by Seller, a Selling Subsidiary or a Transferred Subsidiary, is in breach of such Contract, and none of Seller, the Selling Subsidiaries or the Transferred Subsidiaries has notified any Person, and no Person has notified in writing Seller, the Selling Subsidiaries or the Transferred Subsidiaries of any Third Partysuch breach.
(d) Seller has taken, and has caused the Selling Subsidiaries and the Transferred Subsidiaries to take, measures consistent with good industry practice to protect the security, continuous operation and integrity of their material systems, networks and Software used in the Business. No Proceedings are pending and no Each item of Business IT is owned by, or validly used under a written notices have been received by Sellers during agreement with, Seller, the past three (3) years (or earlierSelling Subsidiaries and/or Transferred Subsidiaries. Each agreement relating to the Business IT is provided under a written Contract with the relevant Seller, if presently not resolved), in each case, alleging any infringement, misappropriation or other violation by Sellers of the Intellectual Property rights of any Third PartySelling Subsidiary and/or Transferred Subsidiary. Except as set forth in Schedule 4.09(c)the Closing Agreements, to Sellers’ Knowledgethe Business IT is in good working order (ordinary wear and tear excepted) in all material respects, during has been, and currently is, adequate for the past three current business and operations of the Business. The Business IT: (3i) years has not suffered any material failure since June 30, 2015; and (or earlierii) is reasonably secure against intrusion in all material respects. None of Seller, if presently not resolved) no Person has infringed, misappropriated, diluted or otherwise violated any of the Owned Intellectual Property Selling Subsidiaries or the Transferred TechnologySubsidiaries has since June 30, 2015 suffered any material security breaches or any unauthorized disclosures of data that have resulted in (i) a third-party obtaining access to any confidential information of Seller or any of the Selling Subsidiaries or the Transferred Subsidiaries or any of their respective customers or other third parties or (ii) an obligation to notify any Governmental Authority or any other Person, in each case, in connection with the Business. Seller has, and no Seller has made caused the Selling Subsidiaries and the Transferred Subsidiaries to have, implemented and maintained, consistent with good industry practice and its contractual obligations to third persons, (i) security and other measures to protect the Business IT from unauthorized access, use or asserted any claimmodification, demand or notice against any person or entity alleging any (ii) disaster recovery and back up procedures in relation to the Business IT and (iii) the carrying out of regular penetration testing on the Business IT and reasonable remediation of weaknesses detected by such infringement, misappropriation, dilution or other violation. There is no Proceeding pending or, to Sellers’ Knowledge, threatened, challenging a Seller’s ownership of any Owned Intellectual Property, or its right to use any Transferred Intellectual Property, or challenging the validity, registrability, or enforceability of any Registered Intellectual Property included in the Owned Intellectual Property.
(d) Sellers represent that they are, each as applicable, the registrant of record of each domain name as set forth in Schedule 4.09(d) (collectively, the “Domain Names”)testing.
(e) Sellers have taken commercially reasonable measures Seller and each of the relevant Selling Subsidiaries has the right to protect grant the confidentiality various licenses of all Trade Secrets included Intellectual Property to Purchaser as contained in the Owned Intellectual Property IP License Agreement, Software License Agreement and no material Trade Secrets have been disclosed by Sellers to any Person except pursuant to written non-disclosure agreements or other obligations of confidentiality, and, to Sellers’ Knowledge, there has not been a breach of any such agreement or obligation by any such PersonTrademark Transfer & License Agreement.
(f) To Seller’s KnowledgeNeither Seller nor the Selling Subsidiaries or the Transferred Subsidiaries use, Sellers nor have obtained from each used any “open source” Software or any modification or derivative thereof: (i) in a manner that would grant or purport to grant to any Person any rights to or immunities under any of the Transferred IP, or (including current and former employees and independent contractorsii) who has created under any license requiring the disclosure, distribution or developed reverse-engineering of the source code to any of the Software in the products of the Business, to license or provide such source code to any Person for the purpose of making derivative works, or on behalf of Sellers to make available for redistribution to any Owned Intellectual Property that is material to the Business a written, present and, valid assignment of Person such Intellectual Property to a Sellersource code at no or minimal charge.
(g) To Sellers’ KnowledgeSeller has taken, in and has caused the past three (3) yearsSelling Subsidiaries and the Transferred Subsidiaries to take, there has been no material unauthorized access commercially reasonable measures to or material unauthorized use of any confidential or proprietary information or data that is both in Sellers’ possession or control safeguard the Intellectual Property and material trade secrets owned by Seller, the Selling Subsidiaries and the Transferred Subsidiaries related to the Business. All Persons who have contributed, developed or conceived any Transferred IP have done so pursuant to a valid and enforceable agreement that protects the confidential information of the Business and assigns to Seller, the Selling Subsidiaries or the Transferred Subsidiaries, as applicable, exclusive ownership of the Person’s contribution, development or conception and none of Seller, nor any of the Selling Subsidiaries or the Transferred Subsidiaries, is engaged in any outstanding claims, and, to the Knowledge of Seller, there are no circumstances which exist that are likely to give rise to any claim, for any compensation or other payments such as royalties in relation to any Transferred IP that such Person has developed, created or invented. No employee, independent contractor or agent of Seller, the Selling Subsidiaries or the Transferred Subsidiaries has misappropriated any material trade secrets of Seller, any of the Selling Subsidiaries or the Transferred Subsidiaries in the course of his or her performance as an employee, independent contractor or agent, and no employee, independent contractor or agent of Seller, the Selling Subsidiaries or the Transferred Subsidiaries is in material default or material breach of any material term of any employment agreement, nondisclosure agreement, assignment of invention agreement or similar agreement or contract to the extent relating to the protection, ownership, development, use or transfer of Intellectual Property of Seller, the Selling Subsidiaries, or the Transferred Subsidiaries, in each case, in connection with the Business. None of Seller, the Selling Subsidiaries or the Transferred Subsidiaries (i) has disclosed any of the material trade secrets or material confidential information included in the Intellectual Property of Seller, the Selling Subsidiaries or the Transferred Subsidiaries related to the Business to any third-party other than pursuant to a written confidentiality agreement, nor (ii) has disclosed, delivered, licensed or otherwise made available, nor has a duty or obligation (whether present, contingent or otherwise) to disclose, deliver, license or otherwise make available, any source code for any proprietary Software of the Business to any Person.
(h) With respect to any material Software included within the Transferred Intellectual Property, to Sellers’ Knowledge (i) such Software is free from any material bugs, viruses or other malicious code, (ii) the Source Code for such Software has not been disclosed to any Third Party, and (iii) such Software does not contain, derive from or link to any open source Software in a manner that requires the disclosure of any proprietary Source Code, limits the ability to charge fees, or grants any license to any Third Party to make derivative works.
(i) Neither the The execution, delivery or performance of this Agreement, nor Agreement and the consummation of the transactions contemplated by the Ancillary Agreements herein will not contravene, conflict with or result in any limitation on Purchaser’s right, title or interest in or to the material loss Transferred IP.
(i) None of Seller, the Selling Subsidiaries or impairment of the Transferred Subsidiaries has received any written complaint or claim for compensation from any third-party, regarding (i) Seller’s, any of the Owned Intellectual PropertySelling Subsidiaries’ or the Transferred Subsidiaries’ failure or alleged failure to comply with any Data Security Requirements, or (ii) Seller’s, the Selling Subsidiaries’ or the Transferred Subsidiaries’ collection, use or disclosure of personally identifiable information and/or Personal Data, in each case, in connection with the Business.
(j) All third-party code that is incorporated into Seller, the proprietary Software included in Selling Subsidiaries and the Transferred Intellectual Property Subsidiaries are, and that is critical since June 30, 2015 have been, in material compliance with all Data Security Requirements pertaining to the operation of such Software is commercially available (each a “Critical IP License” and collectively “Critical IP Licenses”)processing, collection, storage, use, disclosure, and following Closingtransfer of personally identifiable information and/or Personal Data. None of Seller, Buyer will be able to procure the Selling Subsidiaries or the Transferred Subsidiaries uses any Personal Data it receives through any websites or otherwise in connection with the Business in a license for all such third-party code for (i) an aggregate amount during the one-year period immediately following the Closing manner that shall not exceed the amount reflected for such third-party code violates any Data Protection Legislation in the Unaudited Financial Statements by more than $200,000, and (ii) an aggregate amount during the twelve (12) months period following the initial one-year period immediately following Closing that shall not exceed the amount reflected for such third-party code in the Unaudited Financial Statements by more than $200,000; provided that any increases in license fees resulting from a volume increase, additional licenses or other change in the operation of Business post Closing shall not be breaches of this representationmaterial respect.
(k) Buyer and Sellers agree Since June 30, 2015, no Data Protection Authority has: (i) alleged in writing that Seller, the representations and warranties included Selling Subsidiaries or the Transferred Subsidiaries, has failed to comply with Data Protection Legislation, in this Section 4.09 shall be connection with the sole and exclusive representations and warranties Business; or (ii) threatened in writing to conduct an investigation into or take enforcement action against Seller, the Selling Subsidiaries, or the Transferred Subsidiaries, in connection with the Business.
(l) Since June 30, 2015, none of Sellers Seller, the Selling Subsidiaries, or the Transferred Subsidiaries, in connection with respect the Business, has suffered a personal data breach that required notification to Intellectual Property matters in this Agreementa Data Protection Authority.
Appears in 2 contracts
Samples: Stock and Asset Purchase Agreement, Stock and Asset Purchase Agreement (Eastman Kodak Co)
Intellectual Property. (a) Schedule 4.09(a) VII sets forth a true and complete list of all the following Intellectual Property constituting Collateral such Grantor owns, licenses or otherwise has the right to use: (i) Registered Intellectual Property included in the Owned that is registered or subject to applications for registration, (ii) Internet domain names and (iii) Intellectual PropertyProperty and material Computer Software, indicating separately identifying that owned and licensed to such Grantor and including for each of the foregoing items (A) the owner, (B) the title, (C) the jurisdiction in which such item the has been registered or otherwise arises or in which an application for registration or application numberhas been filed, (D) as applicable, the registration or application date, number and the applicable filing jurisdiction registration or application date and (iiE) Owned any licenses and sublicenses held by any Grantor as licensee pertaining to Intellectual Property that is not registered but that is material to of any other Person or other rights (including franchises) granted by the operation of the Business. Sellers exclusively own all, right, title and interest in all Owned Intellectual Property, free and clear of all Encumbrances (other than Permitted Encumbrances). Sellers are not bound by any outstanding judgment, injunction, order or decree or any contractual obligation materially restricting the use by a Seller of the Owned Intellectual Property, or materially restricting the licensing thereof to any Person. With Grantor with respect to the Registered Intellectual Property included in the Owned Intellectual Property listed on Schedule 4.09(a), (i) all such Registered Intellectual Property is subsisting and, to Sellers’ Knowledge, valid and enforceable, (ii) a Seller is the owner of record, and (iii) all maintenance fees and filings that are required to be made to maintain such Registered Intellectual Property have been timely made (taking into account any applicable grace periods)thereto.
(b) Schedule 4.09(b) sets forth, or at On the Closing will set forthDate, a true and complete list of all Intellectual Property Licenses. Except as set forth on Schedule 4.09(b)constituting Collateral owned by such Grantor is valid, Sellers have provided Buyer with true in full force and complete copies of all such effect, subsisting, unexpired and enforceable, and no Intellectual Property Licensesconstituting Collateral has been abandoned. All such No breach or default of any material license or sublicense held by any Grantor as licensee pertaining to Intellectual Property Licenses are, to Sellers’ Knowledge, valid, binding and enforceable between of any other Person or other right (including franchises) constituting Collateral shall be caused by any of the applicable Seller and the other parties theretofollowing, and Seller andnone of the following shall limit or impair the ownership, to Sellers’ Knowledgeuse, such other parties are in compliance with the material terms and conditions validity or enforceability of, or any rights of such Intellectual Property Licenses.
(c) To Sellers’ Knowledge, the conduct of the Business as currently conducted does not infringe, misappropriate, dilute or otherwise violate, and in the past three (3) years has not infringed, misappropriated or otherwise violatedGrantor in, any Intellectual Property rights of any Third Party. Sellers have not received any notice that Sellers’ use of the Transferred Intellectual Property in the conduct of the Business as currently conducted infringes, misappropriates, dilutes or otherwise violates, or in the past three (3) years has infringed, misappropriated or otherwise violated, any Intellectual Property Rights of any Third Party. No Proceedings are pending and no written notices have been received by Sellers during the past three (3) years (or earlier, if presently not resolved), in each case, alleging any infringement, misappropriation or other violation by Sellers of the Intellectual Property rights of any Third Party. Except as set forth in Schedule 4.09(c), to Sellers’ Knowledge, during the past three (3) years (or earlier, if presently not resolved) no Person has infringed, misappropriated, diluted or otherwise violated any of the Owned Intellectual Property or Transferred Technology, and no Seller has made or asserted any claim, demand or notice against any person or entity alleging any such infringement, misappropriation, dilution or other violation. There is no Proceeding pending or, to Sellers’ Knowledge, threatened, challenging a Seller’s ownership of any Owned Intellectual Property, or its right to use any Transferred Intellectual Property, or challenging the validity, registrability, or enforceability of any Registered Intellectual Property included in the Owned Intellectual Property.
(d) Sellers represent that they are, each as applicable, the registrant of record of each domain name as set forth in Schedule 4.09(d) (collectively, the “Domain Names”).
(e) Sellers have taken commercially reasonable measures to protect the confidentiality of all Trade Secrets included in the Owned Intellectual Property and no material Trade Secrets have been disclosed by Sellers to any Person except pursuant to written non-disclosure agreements or other obligations of confidentiality, and, to Sellers’ Knowledge, there has not been a breach of any such agreement or obligation by any such Person.
(f) To Seller’s Knowledge, Sellers have obtained from each Person (including current and former employees and independent contractors) who has created or developed for or on behalf of Sellers any Owned Intellectual Property that is material to the Business a written, present and, valid assignment of such Intellectual Property to a Seller.
(g) To Sellers’ Knowledge, in the past three (3) years, there has been no material unauthorized access to or material unauthorized use of any confidential or proprietary information or data that is both in Sellers’ possession or control and material to the Business.
(h) With respect to any material Software included within the Transferred Intellectual Property, to Sellers’ Knowledge constituting Collateral: (i) such Software is free from any material bugs, viruses or other malicious code, (ii) the Source Code for such Software has not been disclosed to any Third Party, and (iii) such Software does not contain, derive from or link to any open source Software in a manner that requires the disclosure of any proprietary Source Code, limits the ability to charge fees, or grants any license to any Third Party to make derivative works.
(i) Neither the execution, delivery or performance of this Agreement, nor the consummation of the transactions contemplated by the Ancillary Agreements will result in the material loss any Credit Document or impairment of any of the Owned Intellectual Property.
(j) All third-party code that is incorporated into the proprietary Software included in the Transferred Intellectual Property and that is critical to the operation of such Software is commercially available (each a “Critical IP License” and collectively “Critical IP Licenses”), and following Closing, Buyer will be able to procure a license for all such third-party code for (i) an aggregate amount during the one-year period immediately following the Closing that shall not exceed the amount reflected for such third-party code in the Unaudited Financial Statements by more than $200,000, and (ii) an aggregate amount during any holding, decision, judgment or order rendered by any Governmental Body. There are no pending (or, to the twelve (12Knowledge of such Grantor, threatened) months period following actions, investigations, suits, proceedings, audits, claims, demands, orders or disputes challenging the initial one-year period immediately following Closing that shall ownership, use, validity, enforceability of, or such Grantor’s rights in, any Intellectual Property constituting Collateral of such Grantor. To such Grantor’s Knowledge, no Person has been or is infringing, misappropriating, diluting, violating or otherwise impairing any Intellectual Property constituting Collateral of such Grantor. Such Grantor, and to such Grantor’s Knowledge each other party thereto, is not exceed the amount reflected for such third-party code in the Unaudited Financial Statements material breach or default of any material license or sublicense held by more than $200,000; provided that any increases in license fees resulting from a volume increase, additional licenses or other change in the operation of Business post Closing shall not be breaches of this representation.
(k) Buyer and Sellers agree that the representations and warranties included in this Section 4.09 shall be the sole and exclusive representations and warranties of Sellers with respect Grantor as licensee pertaining to Intellectual Property matters in this Agreementof any other Person or other right (including franchises) constituting Collateral.
Appears in 2 contracts
Samples: Security Agreement (Palm Harbor Homes Inc /Fl/), Security Agreement (Cavco Industries Inc)
Intellectual Property. (a) Schedule 4.09(a) sets forth a true and complete list of all (i) Registered Intellectual Property Schedule 3.1(m) contains a complete and accurate list of (A) all of the Patents included in within the Owned Intellectual Property, indicating for each item the registration or application number, the registration or application date, and the applicable filing jurisdiction Qsymia Patent Rights and (iiB) Owned Intellectual Property that is not registered but that is material to the operation all of the Business. Sellers exclusively own all, right, title and interest in all Owned Intellectual Property, free and clear of all Encumbrances (other than Permitted Encumbrances). Sellers are not bound by any outstanding judgment, injunction, order or decree or any contractual obligation materially restricting the use by a Seller of the Owned Intellectual Property, or materially restricting the licensing thereof to any Person. With respect to the Registered Intellectual Property included in the Owned Intellectual Property listed on Schedule 4.09(a), (i) all such Registered Intellectual Property is subsisting and, to Sellers’ Knowledge, valid and enforceable, (ii) a Seller is the owner of record, and (iii) all maintenance fees and filings that are required to be made to maintain such Registered Intellectual Property have been timely made (taking into account any applicable grace periods).
(b) Schedule 4.09(b) sets forth, or at the Closing will set forth, a true and complete list of all Intellectual Property LicensesQsymia Trademarks. Except as set forth on Schedule 4.09(b3.1(m), Sellers have provided Buyer with true and complete copies Seller is the registered owner of all of the Qsymia Patent Rights. Schedule 3.1(m) specifies as to each listed patent or patent application (A) the jurisdictions by or in which each such Intellectual Property Licenses. All such Intellectual Property Licenses areQsymia Patent Right has issued as a patent or a patent application has been filed, to Sellers’ Knowledge, valid, binding and enforceable between including the applicable Seller and the other parties theretorespective patent or application numbers, and Seller and(B) any other Person owning or having an interest in such Qsymia Patent Right, to Sellers’ Knowledge, such other parties are in compliance with including the material terms and conditions nature of such Intellectual Property Licensesinterest.
(cii) To Sellers’ KnowledgeThe Qsymia Patents Rights are the only Patents that are owned or controlled by Seller, or under which Seller is empowered to grant licenses, the conduct subject matter of which is necessary in the development, manufacture, use, marketing, promotion, sale or distribution of the Business as currently conducted does not infringe, misappropriate, dilute or otherwise violate, and in the past three Product.
(3iii) years has not infringed, misappropriated or otherwise violated, any Intellectual Property rights of any Third Party. Sellers have not received any notice that Sellers’ use of the Transferred Intellectual Property in the conduct of the Business as currently conducted infringes, misappropriates, dilutes or otherwise violates, or in the past three (3) years has infringed, misappropriated or otherwise violated, any Intellectual Property Rights of any Third Party. No Proceedings are pending and no written notices have been received by Sellers during the past three (3) years (or earlier, if presently not resolved), in each case, alleging any infringement, misappropriation or other violation by Sellers of the Intellectual Property rights of any Third Party. Except as set forth in Schedule 4.09(c3.1(m), Seller has not received written notice of, and is not a party to, any pending, and to Sellers’ Knowledgethe Knowledge of Seller there are no threatened, during the past three (3) years (litigations, interferences, reexaminations, oppositions or earlier, if presently not resolved) no Person has infringed, misappropriated, diluted or otherwise violated like procedures involving any of the Owned Intellectual Property or Transferred Technology, and no Seller has made or asserted any claim, demand or notice against any person or entity alleging any such infringement, misappropriation, dilution or other violation. There is no Proceeding pending or, to Sellers’ Knowledge, threatened, challenging a Seller’s ownership of any Owned Intellectual Property, or its right to use any Transferred Intellectual Property, or challenging the validity, registrability, or enforceability of any Registered Intellectual Property included in the Owned Intellectual PropertyQsymia Patent Rights.
(div) Sellers represent All of the issued Patents within the Qsymia Patent Rights are in full force and effect and have not lapsed, expired or otherwise terminated. Seller has not received any written notice relating to the lapse, expiration or other termination of any of the issued patents within the Qsymia Patent Rights, or alleging that, and Seller has not received any written legal opinion that they arealleges that, each as applicable, an issued patent within any of the registrant of record of each domain name as set forth in Schedule 4.09(d) (collectively, the “Domain Names”)Qsymia Patent Rights is invalid or unenforceable.
(ev) Sellers have taken commercially reasonable measures to protect the confidentiality of all Trade Secrets included in the Owned Intellectual Property and no material Trade Secrets have been disclosed by Sellers to Seller has not received any Person except pursuant to written non-disclosure agreements or other obligations of confidentialitynotice that there is any, and, to Sellers’ Knowledgethe Knowledge of Seller, there has is no, Person who is or claims to be an inventor under any of the Qsymia Patent Rights who is not been a breach of any such agreement or obligation by any such Personnamed inventor thereof.
(fvi) Seller has not and, to the Knowledge of Seller, no counterparty to an Existing In-License has received any written notice of any claim by any Person challenging inventorship or ownership of, the rights of Seller in and to, or the patentability, validity or enforceability of, any of the Qsymia Patent Rights, or asserting that the development, manufacture, importation, sale, offer for sale or use of the Product infringes or will infringe such Person’s patents or other intellectual property rights.
(vii) To the Knowledge of Seller, the discovery, development, manufacture, importation, sale, offer for sale or use of the Product, has not and will not, infringe, violate or misuse any patent or other intellectual property rights owned by any Third Person that is not licensed to the Seller under an Existing In-License Agreement. ***
(viii) Seller owns the entire right, title, and interest in, to and under the Qsymia Trademarks, including all goodwill pertaining thereto, the right to conduct business under the Qsymia Trademarks, the right to license others under the Qsymia Trademarks, and all rights to xxx, counterclaim and collect damages and payments for claims of past, present and future infringements, unfair competition or misappropriations thereof, and all income, royalties, damages and payments now or hereafter due or payable with respect to the Qsymia Trademarks.
(ix) The Qsymia Trademarks are not subject to any Encumbrance created by, through, or under Seller or any other Person, other than the Permitted Encumbrances.
(x) Seller has not purported to transfer or assign any of the Qsymia Trademarks to any Person, and Seller has not executed any agreement, document or other instrument in conflict herewith.
(xi) To Seller’s Knowledge, Sellers all Qsymia Trademarks that have obtained from each Person been registered with the PTO or other Governmental Authority are currently in compliance in all material respects with all Applicable Law (including current the timely post-registration filing of affidavits of use and former employees incontestability and independent contractors) who has created renewal applications or developed for or on behalf of Sellers any Owned Intellectual Property that is material to the Business a writtensimilar documents), present and, and are valid assignment of such Intellectual Property to a Sellerand enforceable.
(gxii) To Sellers’ the Knowledge of Seller, no Qsymia Trademark has been or is now involved in any opposition, invalidation or cancellation Proceeding and, to Seller’s Knowledge, in no such action is threatened with respect to any of the past three (3) years, there has been no material unauthorized access to or material unauthorized use of any confidential or proprietary information or data that is both in Sellers’ possession or control and material to the BusinessQsymia Trademarks.
(hxiii) With To the Knowledge of Seller, no Person has infringed or otherwise violated, or is infringing or otherwise violating, any of the Qsymia Patent Rights or the Qsymia Trademarks, except to the extent such violation or infringement does not or cannot, reasonably be expected to have a Material Adverse Effect.
(xiv) Seller, and to Seller’s Knowledge the counterparty to each In-License, has paid all maintenance fees, annuities and like payments required as of the date hereof with respect to any material Software included within the Transferred Intellectual Property, to Sellers’ Knowledge (i) such Software is free from any material bugs, viruses or other malicious code, (ii) the Source Code for such Software has not been disclosed to any Third Party, and (iii) such Software does not contain, derive from or link to any open source Software in a manner that requires the disclosure of any proprietary Source Code, limits the ability to charge fees, or grants any license to any Third Party to make derivative works.
(i) Neither the execution, delivery or performance of this Agreement, nor the consummation of the transactions contemplated by the Ancillary Agreements will result in the material loss or impairment of any of the Owned Intellectual PropertyQsymia Patent Rights.
(j) All third-party code that is incorporated into the proprietary Software included in the Transferred Intellectual Property and that is critical to the operation of such Software is commercially available (each a “Critical IP License” and collectively “Critical IP Licenses”), and following Closing, Buyer will be able to procure a license for all such third-party code for (i) an aggregate amount during the one-year period immediately following the Closing that shall not exceed the amount reflected for such third-party code in the Unaudited Financial Statements by more than $200,000, and (ii) an aggregate amount during the twelve (12) months period following the initial one-year period immediately following Closing that shall not exceed the amount reflected for such third-party code in the Unaudited Financial Statements by more than $200,000; provided that any increases in license fees resulting from a volume increase, additional licenses or other change in the operation of Business post Closing shall not be breaches of this representation.
(k) Buyer and Sellers agree that the representations and warranties included in this Section 4.09 shall be the sole and exclusive representations and warranties of Sellers with respect to Intellectual Property matters in this Agreement.
Appears in 2 contracts
Samples: Purchase and Sale Agreement (Vivus Inc), Purchase and Sale Agreement (Vivus Inc)
Intellectual Property. (a) Schedule 4.09(a) sets forth a true and complete list of all (i) Registered All registered Intellectual Property included Rights and applications therefor owned or purported to be owned by Parent or any of its Subsidiaries are subsisting and unexpired, and, to the Knowledge of Parent, valid and, to the Knowledge of Parent, enforceable. Parent and its Subsidiaries have taken with respect to all such registered Intellectual Property Rights all actions reasonably necessary to maintain such registered Intellectual Property Rights, including payment of applicable application, filing, registration and maintenance fees, filing of applicable statements of use, timely response to office actions, and disclosure of any required information, except as would not, individually or in the Owned aggregate, reasonably be expected to result in a Parent Material Adverse Effect. No such registered Intellectual PropertyProperty Right is involved in any interference, indicating for each item the registration reissue, re-examination or application numberopposition proceeding, the registration nor in any litigation to which Parent or application dateany of its Subsidiaries is a party, and the applicable filing jurisdiction and (ii) Owned no other Person has notified Parent or its Subsidiaries that any such proceeding or litigation involving any such registered Intellectual Property that Right is not registered but that is threatened.
(b) Parent and each of its Subsidiaries exclusively owns or controls all material Intellectual Property Rights owned or purported to the operation of the Business. Sellers exclusively own all, right, title and interest in all Owned Intellectual Propertybe owned by it, free and clear of any and all Encumbrances Liens (other than Permitted EncumbrancesLiens). Sellers are not bound by , including claims of current or former employees and contractors, and neither Parent nor any outstanding judgmentof its Subsidiaries has since the Applicable Date received any written claim from any other Person challenging the validity, injunctionenforceability, order use or decree or ownership of any contractual obligation materially restricting the use by a Seller of the Owned Intellectual Property, or materially restricting the licensing thereof to any Person. With respect to the Registered Intellectual Property included in the Owned Intellectual Property listed on Schedule 4.09(a), (i) all such Registered Intellectual Property is subsisting and, to Sellers’ Knowledge, valid and enforceable, (ii) a Seller is the owner of record, and (iii) all maintenance fees and filings that are required to be made to maintain such Registered Intellectual Property have been timely made (taking into account any applicable grace periods).
(b) Schedule 4.09(b) sets forth, or at the Closing will set forth, a true and complete list of all Intellectual Property Licenses. Except as set forth on Schedule 4.09(b), Sellers have provided Buyer with true and complete copies of all such Intellectual Property Licenses. All such Intellectual Property Licenses are, to Sellers’ Knowledge, valid, binding and enforceable between the applicable Seller and the other parties thereto, and Seller and, to Sellers’ Knowledge, such other parties are in compliance with the material terms and conditions of such Intellectual Property LicensesRights.
(c) To Sellers’ Knowledgethe Knowledge of Parent, (i) the conduct operation of the Business as currently conducted business of Parent and each of its Subsidiaries does not infringe, misappropriate, dilute misappropriate or otherwise violate, and in violate the past three (3) years has not infringed, misappropriated or otherwise violated, any Intellectual Property rights of any Third Party. Sellers have not received any notice that Sellers’ use of the Transferred Intellectual Property in the conduct of the Business as currently conducted infringes, misappropriates, dilutes or otherwise violates, or in the past three (3) years has infringed, misappropriated or otherwise violated, any Intellectual Property Rights of any Third Party. No Proceedings are pending other Person, and no written notices have been received by Sellers during (ii) since the past three (3) years (or earlierApplicable Date, if presently not resolved), in each case, alleging any infringement, misappropriation or other violation by Sellers of the Intellectual Property rights of any Third Party. Except as set forth in Schedule 4.09(c), to Sellers’ Knowledge, during the past three (3) years (or earlier, if presently not resolved) no Person has infringedclaimed the same in writing (including by a “cease and desist” letter or invitation to take a patent license). To the Knowledge of Parent, misappropriatedno Person is infringing, diluted misappropriating or otherwise violated violating any Intellectual Property Rights owned or purported to be owned by Parent or any of the Owned Intellectual Property or Transferred Technology, and no Seller has made or asserted any claim, demand or notice against any person or entity alleging any such infringement, misappropriation, dilution or other violation. There is no Proceeding pending or, to Sellers’ Knowledge, threatened, challenging a Seller’s ownership of any Owned Intellectual Property, or its right to use any Transferred Intellectual Property, or challenging the validity, registrability, or enforceability of any Registered Intellectual Property included in the Owned Intellectual PropertySubsidiaries.
(d) Sellers represent that they areParent and each of its Subsidiaries has taken all commercially reasonable actions and has implemented all commercially reasonable policies and procedures to protect (i) its material trade secrets and confidential information, each as applicable(ii) all Personal Data and all other personal, personally identifiable, sensitive or regulated information collected, stored, used, disclosed, transmitted, transferred, processed or disposed of by or on behalf of Parent or any of its Subsidiaries and (iii) the registrant integrity, continuous operation and security of record of each domain name as set forth the IT Assets used in Schedule 4.09(d) (collectively, the “Domain Names”)connection with its business.
(e) Sellers have taken commercially reasonable measures Since the Applicable Date, Parent and each of its Subsidiaries has complied in all material respects with all applicable Laws and all applicable contractual obligations relating to protect the confidentiality collection, storage, use, transfer and any other processing of all Trade Secrets included Personal Data collected or used by Parent or any of its Subsidiaries. Parent and its Subsidiaries have implemented backup, security and disaster recovery technology and procedures consistent with standard practices for the industries in the Owned Intellectual Property which Parent and no material Trade Secrets have been disclosed by Sellers to any Person except pursuant to written non-disclosure agreements or other obligations of confidentiality, and, to Sellers’ Knowledge, there has not been a breach of any such agreement or obligation by any such Person.
(f) To Seller’s Knowledge, Sellers have obtained from its Subsidiaries operate in each Person (including current and former employees and independent contractors) who has created or developed for or on behalf of Sellers any Owned Intellectual Property that is material to the Business a written, present and, valid assignment of such Intellectual Property to a Seller.
(g) To Sellers’ Knowledge, applicable jurisdiction in the past three (3) years, there which they do business. There has been no material unauthorized access to or material unauthorized use of any confidential or proprietary information or data that is both in Sellers’ possession or control and material to the Business.
(h) With respect to any material Software included within the Transferred Intellectual Property, to Sellers’ Knowledge (i) such Software is free from any material bugs, viruses or other malicious code, (ii) the Source Code for such Software has not been disclosed to any Third PartyPersonal Data, and (iii) such Software does not containno material breaches, derive from outages or link to any open source Software in a manner that requires the disclosure of any proprietary Source Code, limits the ability to charge fees, or grants any license to any Third Party to make derivative works.
(i) Neither the execution, delivery or performance of this Agreement, nor the consummation of the transactions contemplated by the Ancillary Agreements will result in the material loss or impairment violations of any of the Owned Intellectual Property.
(j) All third-party code that is incorporated into the proprietary Software included IT Assets used in the Transferred Intellectual Property and that business of Parent or any of its Subsidiaries. There is critical to the operation of such Software is commercially available no complaint to, or any audit, proceeding, investigation (each a “Critical IP License” and collectively “Critical IP Licenses”)formal or informal) or claim currently pending against, and following Closing, Buyer will be able to procure a license for all such third-Parent or its Subsidiaries by any private party code for (i) an aggregate amount during the one-year period immediately following the Closing that shall not exceed the amount reflected for such third-party code in the Unaudited Financial Statements by more than $200,000, and (ii) an aggregate amount during the twelve (12) months period following the initial one-year period immediately following Closing that shall not exceed the amount reflected for such third-party code in the Unaudited Financial Statements by more than $200,000; provided that or any increases in license fees resulting from a volume increase, additional licenses or other change in the operation of Business post Closing shall not be breaches of this representation.
(k) Buyer and Sellers agree that the representations and warranties included in this Section 4.09 shall be the sole and exclusive representations and warranties of Sellers Governmental Entity with respect to Intellectual Property matters in this Agreementthe collection, use, retention, disclosure, transfer, storage or disposal of Personal Data.
Appears in 2 contracts
Samples: Merger Agreement (NantKwest, Inc.), Merger Agreement (Cambridge Equities, LP)
Intellectual Property. (a) Schedule 4.09(a) 3.1.9 sets forth a true and complete list of all (i) Registered of the SELLER’s Intellectual Property. All Intellectual Property included in listed on Schedule 3.1.9, is valid, enforceable and subsisting. SELLER has the Owned exclusive right to file, prosecute and maintain all applications and registrations with respect to such Intellectual Property. Except as set forth in Schedule 3.1.9, indicating for each item none of the registration or application number, the registration or application date, and the applicable filing jurisdiction and (ii) Owned Intellectual Property that is not registered but that is material subject to the operation any Lien in favor of the Business. Sellers exclusively own all, any third party and SELLER owns all right, title and interest therein and no other Person has any right, title or interest in all Owned or to any of the Intellectual Property. Except as set forth in Schedule 3.1.9, free and clear none of all Encumbrances (other than Permitted Encumbrances). Sellers are not bound by SELLER’s rights in or to any outstanding judgment, injunction, order or decree or any contractual obligation materially restricting the use by a Seller of the Owned Intellectual Property, Property shall be adversely affected by its execution or materially restricting delivery of this Agreement or by the licensing thereof performance of its obligations hereunder. No claims with respect to any Person. With respect to the Registered Intellectual Property included in the Owned Intellectual Property listed on Schedule 4.09(a), (i) all such Registered Intellectual Property is subsisting and, to Sellers’ Knowledge, valid and enforceable, (ii) a Seller is the owner of record, and (iii) all maintenance fees and filings that are required to be made to maintain such Registered Intellectual Property have been timely made (taking asserted or threatened by any Person against VHI. No use of any of the Intellectual Property by SELLER constitutes or has constituted an unauthorized use, infringement, misappropriation or other violation of the Intellectual Property of any other Person and no valid grounds exist for any claims against SELLER with respect to any Intellectual Property. Without limiting the generality of the foregoing, no Person ever employed or otherwise engaged by SELLER has asserted or, to SELLER’s knowledge, threatened any claim against SELLER relating to any Intellectual Property. To SELLER’s knowledge, there has not been, nor is there presently, any unauthorized use, infringement, misappropriation or violation of any of the Intellectual Property by any Person. Except as set forth in Schedule 3.1.9, SELLER has the full and exclusive right to possess, use, copy, distribute, display, transfer and license all of the Intellectual Property. Except as set forth in Schedule 3.1.9, SELLER has not entered into account any applicable grace periods).
(b) Schedule 4.09(b) sets forthagreement to indemnify any other Person against any charge of infringement of any Intellectual Property. SELLER has not entered into any agreement granting any third party the right to bring infringement actions with respect to, or at otherwise to enforce rights with respect to, any of the Closing will set forthIntellectual Property. SELLER has paid all material fees, a true annuities and complete list of all other payments which have heretofore become due to any Governmental Authority with respect to the Intellectual Property Licensesand has taken all steps reasonable and necessary to prosecute and maintain the same. Except as set forth on Schedule 4.09(b)3.1.9, Sellers have provided Buyer with true and complete copies of all such Intellectual Property Licenses. All such Intellectual Property Licenses are, to Sellers’ Knowledge, valid, binding and enforceable between the applicable Seller and the other parties thereto, and Seller and, to Sellers’ Knowledge, such other parties are in compliance with the material terms and conditions of such Intellectual Property Licenses.
(c) To Sellers’ Knowledge, the conduct of the Business as currently conducted does not infringe, misappropriate, dilute or otherwise violate, and in the past three (3) years SELLER has not infringed, misappropriated transferred its title in or otherwise violated, to any ACCESSIBLE Intellectual Property rights of any Third Party. Sellers have not received any notice that Sellers’ use of the Transferred Intellectual Property in the conduct of the Business as currently conducted infringes, misappropriates, dilutes or otherwise violates, or in the past three (3) years has infringed, misappropriated or otherwise violated, any Intellectual Property Rights of any Third Party. No Proceedings are pending and no written notices have been received by Sellers during the past three (3) years (or earlier, if presently not resolved), in each case, alleging any infringement, misappropriation or other violation by Sellers of the Intellectual Property rights of any Third PartyProperty. Except as set forth in on Schedule 4.09(c)3.1.9, SELLER has not permitted any Person to Sellers’ Knowledge, during the past three (3) years (or earlier, if presently not resolved) no Person has infringed, misappropriated, diluted or otherwise violated utilize any of the Owned Intellectual Property or Transferred Technology, and no Seller has made or asserted any claim, demand or notice against any person or entity alleging any such infringement, misappropriation, dilution or other violation. There is no Proceeding pending or, to Sellers’ Knowledge, threatened, challenging a Seller’s ownership of any Owned Intellectual Property, or its right to use any Transferred Intellectual Property, or challenging the validity, registrability, or enforceability of any Registered Intellectual Property included in the Owned Intellectual Property.
(d) Sellers represent that they are, each as applicable, the registrant of record of each domain name as set forth in Schedule 4.09(d) (collectively, the “Domain Names”).
(e) Sellers have taken commercially reasonable measures to protect the confidentiality of all Trade Secrets included in the Owned Intellectual Property and no material Trade Secrets have been disclosed by Sellers to any Person except pursuant to written non-disclosure agreements or other obligations of confidentiality, and, to Sellers’ Knowledge, there has not been a breach of any such agreement or obligation by any such Person.
(f) To Seller’s Knowledge, Sellers have obtained from each Person (including current and former employees and independent contractors) who has created or developed for or on behalf of Sellers any Owned Intellectual Property that is material to the Business a written, present and, valid assignment of such Intellectual Property to a Seller.
(g) To Sellers’ Knowledge, in the past three (3) years, there has been no material unauthorized access to or material unauthorized use of any confidential or proprietary information or data that is both in Sellers’ possession or control and material to the Business.
(h) With respect to any material Software included within the Transferred Intellectual Property, to Sellers’ Knowledge (i) such Software is free from any material bugs, viruses or other malicious code, (ii) the Source Code for such Software has not been disclosed to any Third Party, and (iii) such Software does not contain, derive from or link to any open source Software in a manner that requires the disclosure of any proprietary Source Code, limits the ability to charge fees, or grants any license to any Third Party to make derivative works.
(i) Neither the execution, delivery or performance of this Agreement, nor the consummation of the transactions contemplated by the Ancillary Agreements will result in the material loss or impairment of any of the Owned Intellectual Property.
(j) All third-party code that is incorporated into the proprietary Software included in the Transferred Intellectual Property and that is critical to the operation of such Software is commercially available (each a “Critical IP License” and collectively “Critical IP Licenses”), and following Closing, Buyer will be able to procure a license for all such third-party code for (i) an aggregate amount during the one-year period immediately following the Closing that shall not exceed the amount reflected for such third-party code in the Unaudited Financial Statements by more than $200,000, and (ii) an aggregate amount during the twelve (12) months period following the initial one-year period immediately following Closing that shall not exceed the amount reflected for such third-party code in the Unaudited Financial Statements by more than $200,000; provided that any increases in license fees resulting from a volume increase, additional licenses or other change in the operation of Business post Closing shall not be breaches of this representation.
(k) Buyer and Sellers agree that the representations and warranties included in this Section 4.09 shall be the sole and exclusive representations and warranties of Sellers with respect to Intellectual Property matters in this Agreement.
Appears in 2 contracts
Samples: Asset Purchase Agreement (Valiant Health Care, Inc.), Asset Purchase Agreement (Willing Holding, Inc.)
Intellectual Property. (a) Schedule 4.09(a) sets forth a true and complete list of all (i) Registered None of the Accelerize Intellectual Property included is licensed to or by any Loan Party, other than Intellectual Property Collateral that is licensed between Loan Parties. Each Loan Party possesses or has the right to use all licenses, franchises, permits, registrations, patents, patent rights, trademarks, trademark rights, trade names, trade name rights, service marks, service xxxx rights, copyrights and other forms of intellectual property material to the conduct of its business, each of which is in the Owned Intellectual Property, indicating for each item the registration or application number, the registration or application dategood standing in all material respects, and has the applicable filing jurisdiction and right to use such intellectual property without violation of any material rights of others with respect thereto;
(ii) Owned All Accelerize Intellectual Property that is not registered but that fully transferable, alienable, licensable, usable and disclosable by the Loan Parties without restriction and without payment of any kind to any third party;
(iii) The Borrower is material to the operation sole and exclusive owners of the Business. Sellers exclusively own all, right, title and interest in all Owned Accelerize Intellectual Property, free and clear of all any Encumbrances (other than save and except for Permitted Encumbrances). Sellers are not bound by any outstanding judgment, injunction, order or decree or any contractual obligation materially restricting the use by a Seller of the Owned Intellectual Property, or materially restricting the licensing thereof to any Person. With respect to the Registered ;
(iv) The Accelerize Intellectual Property included in the Owned Intellectual Property listed on Schedule 4.09(a), (i) all such Registered Intellectual Property is subsisting and, to Sellers’ Knowledge, valid and enforceable, (ii) a Seller is the owner of record, and (iii) all maintenance fees and filings that are required to be made to maintain such Registered Intellectual Property have been timely made (taking into account any applicable grace periods).
(b) Schedule 4.09(b) sets forth, or at the Closing will set forth, a true and complete list of includes all Intellectual Property Licenses. Except as set forth on Schedule 4.09(b), Sellers have provided Buyer with true and complete copies of all such Intellectual Property Licenses. All such Intellectual Property Licenses are, Collateral that is used in or necessary to Sellers’ Knowledge, valid, binding and enforceable between the applicable Seller and the other parties thereto, and Seller and, to Sellers’ Knowledge, such other parties are in compliance with the material terms and conditions of such Intellectual Property Licenses.
(c) To Sellers’ Knowledge, the conduct of the Accelerize Group Business as it currently is conducted by the Loan Parties, including the design, development, manufacture, use, marketing, distribution, licencing out and sale of Accelerize Property;
(v) The operation of the Accelerize Group Business as it is currently conducted or is currently contemplated to be conducted by the Loan Parties, including the design, development, use, import, branding, advertising, promotion, marketing, manufacture, sale, and licencing out of any Accelerize Product does not infringe, misappropriate, dilute or otherwise violate, and in the past three (3) years has not infringed, misappropriated or otherwise violated, violate any Intellectual Property intellectual property rights of any Third PartyPerson, violate any right of any Person (including any right to privacy or publicity), or constitute unfair competition or trade practices under any Applicable Laws. Sellers The Loan Parties have not received notice from any notice Person claiming that Sellers’ use of the Transferred Intellectual Property in the conduct of the Business as currently conducted infringes, misappropriates, dilutes such operation or otherwise violatesany act, or in the past three (3) years has infringed, misappropriated any Accelerize Product infringes or otherwise violated, misappropriates any Intellectual Property Rights of any Third Party. No Proceedings are pending and no written notices have been received by Sellers during the past three (3) years (or earlier, if presently not resolved), in each case, alleging any infringement, misappropriation or other violation by Sellers of the Intellectual Property intellectual property rights of any Third PartyPerson or constitutes unfair competition or a violation of any Applicable Laws. Except as set forth in Schedule 4.09(c), to Sellers’ Knowledge, during the past three (3) years (or earlier, if presently not resolved) no Person has infringed, misappropriated, diluted or otherwise violated any None of the Owned Accelerize Intellectual Property or Transferred Technology, and no Seller has made or asserted any claim, demand or notice against any person or entity alleging any such infringement, misappropriation, dilution or other violation. There is no Proceeding pending or, to Sellers’ Knowledge, threatened, challenging a Seller’s ownership of any Owned Intellectual Property, or its right to use any Transferred Intellectual Property, or challenging the validity, registrability, or enforceability of any Registered Intellectual Property included in the Owned Intellectual Property.
(d) Sellers represent that they are, each as applicable, the registrant of record of each domain name as set forth in Schedule 4.09(d) (collectively, the “Domain Names”).
(e) Sellers have taken commercially reasonable measures to protect the confidentiality of all Trade Secrets included in the Owned Intellectual Property and no material Trade Secrets have been disclosed by Sellers to any Person except pursuant to written non-disclosure agreements or other obligations of confidentiality, and, to Sellers’ Knowledge, there has not been a breach of any such agreement or obligation by any such Person.
(f) To Seller’s Knowledge, Sellers have obtained from each Person (including current and former employees and independent contractors) who has created or developed for or on behalf of Sellers any Owned Intellectual Property that is material to the Business a written, present and, valid assignment of such Intellectual Property to a Seller.
(g) To Sellers’ Knowledge, in the past three (3) years, there has been no material unauthorized access to adjudged invalid or material unauthorized use of any confidential unenforceable in whole or proprietary information or data that is both in Sellers’ possession or control and material to the Businesspart.
(h) With respect to any material Software included within the Transferred Intellectual Property, to Sellers’ Knowledge (i) such Software is free from any material bugs, viruses or other malicious code, (ii) the Source Code for such Software has not been disclosed to any Third Party, and (iii) such Software does not contain, derive from or link to any open source Software in a manner that requires the disclosure of any proprietary Source Code, limits the ability to charge fees, or grants any license to any Third Party to make derivative works.
(i) Neither the execution, delivery or performance of this Agreement, nor the consummation of the transactions contemplated by the Ancillary Agreements will result in the material loss or impairment of any of the Owned Intellectual Property.
(j) All third-party code that is incorporated into the proprietary Software included in the Transferred Intellectual Property and that is critical to the operation of such Software is commercially available (each a “Critical IP License” and collectively “Critical IP Licenses”), and following Closing, Buyer will be able to procure a license for all such third-party code for (i) an aggregate amount during the one-year period immediately following the Closing that shall not exceed the amount reflected for such third-party code in the Unaudited Financial Statements by more than $200,000, and (ii) an aggregate amount during the twelve (12) months period following the initial one-year period immediately following Closing that shall not exceed the amount reflected for such third-party code in the Unaudited Financial Statements by more than $200,000; provided that any increases in license fees resulting from a volume increase, additional licenses or other change in the operation of Business post Closing shall not be breaches of this representation.
(k) Buyer and Sellers agree that the representations and warranties included in this Section 4.09 shall be the sole and exclusive representations and warranties of Sellers with respect to Intellectual Property matters in this Agreement.
Appears in 2 contracts
Samples: Credit Agreement, Credit Agreement (Accelerize Inc.)
Intellectual Property. (a) Section 3.11(a) of the Seller Disclosure Schedule 4.09(a) sets forth a true and complete list of all the material (i) Registered Intellectual Property included in the Owned Intellectual Property, indicating for each item the registration or application number, the registration or application date, patents and the applicable filing jurisdiction and (ii) Owned Intellectual Property that is not registered but that is material to the operation of the Business. Sellers exclusively own all, right, title and interest in all Owned Intellectual Property, free and clear of all Encumbrances (other than Permitted Encumbrances). Sellers are not bound by any outstanding judgment, injunction, order or decree or any contractual obligation materially restricting the use by a Seller of the Owned Intellectual Property, or materially restricting the licensing thereof to any Person. With respect to the Registered Intellectual Property included in the Owned Intellectual Property listed on Schedule 4.09(a), (i) all such Registered Intellectual Property is subsisting and, to Sellers’ Knowledge, valid and enforceablepatent applications, (ii) a Seller is the owner of recordtrademark registrations and applications, and (iii) all maintenance fees domain names and filings (iv) copyright registrations and applications that are required to be made to maintain owned by a Seller (with co-owned patents and patent applications denoted as such Registered Intellectual Property on such schedule). To the Knowledge of the Sellers, all such material issued patents and trademark and copyright registrations are subsisting and have not expired, lapsed or been timely made (taking into account any applicable grace periods)abandoned or cancelled.
(b) Schedule 4.09(b) sets forthTo the Knowledge of the Sellers, the Sellers own or at have a right to use the Closing will set forth, a true and complete list of all Intellectual Property Licensesused in the conduct of their business as currently conducted, except as would not, individually or in the aggregate, have a Material Adverse Effect. Except as set forth on Schedule 4.09(b)To the Knowledge of the Sellers, none of the Sellers have provided Buyer with true and complete copies of all such is infringing or misappropriating any Intellectual Property Licenses. All of any other Person, except for such infringements and misappropriations as would not, individually or in the aggregate, have a Material Adverse Effect, and there are no material Actions currently pending or, to the Knowledge of the Sellers, currently threatened against the Sellers with respect to Intellectual Property Licenses are, to Sellers’ Knowledge, valid, binding and enforceable between the applicable Seller and the other parties thereto, and Seller and, to Sellers’ Knowledge, of any such other parties are in compliance with the material terms and conditions of such Intellectual Property LicensesPerson.
(c) To Sellers’ Knowledge, the conduct Knowledge of the Business as currently conducted does not infringeSellers, misappropriate, dilute no Person is infringing or otherwise violate, and in the past three (3) years has not infringed, misappropriated or otherwise violated, misappropriating any Intellectual Property rights of any Third Party. Sellers have not received any notice that Sellers’ use of the Transferred Intellectual Property in the conduct of the Business as currently conducted infringes, misappropriates, dilutes or otherwise violates, or in the past three (3) years has infringed, misappropriated or otherwise violated, any Intellectual Property Rights of any Third Party. No Proceedings are pending and no written notices have been received by Sellers during the past three (3) years (or earlier, if presently not resolved), in each case, alleging any infringement, misappropriation or other violation by Sellers of the Intellectual Property rights of owned by or exclusively licensed to the Sellers, except for such infringements and misappropriations as would not, individually or in the aggregate, have a Material Adverse Effect, and there are no material Actions currently pending or threatened by the Sellers against any Third Party. Except as set forth in Schedule 4.09(c), Person with respect to Sellers’ Knowledge, during the past three (3) years (or earlier, if presently not resolved) no Person has infringed, misappropriated, diluted or otherwise violated any of the Owned Intellectual Property owned by or Transferred Technology, and no Seller has made or asserted any claim, demand or notice against any person or entity alleging any such infringement, misappropriation, dilution or other violation. There is no Proceeding pending or, exclusively licensed to the Sellers’ Knowledge, threatened, challenging a Seller’s ownership of any Owned Intellectual Property, or its right to use any Transferred Intellectual Property, or challenging the validity, registrability, or enforceability of any Registered Intellectual Property included in the Owned Intellectual Property.
(d) There are no material judicial consents, judgments or orders, or litigation settlements, with respect to Intellectual Property issued against the Sellers represent or, to the Knowledge of the Sellers, that they are, each as applicable, are otherwise binding on any Intellectual Property owned by or exclusively licensed to the registrant of record of each domain name as set forth in Schedule 4.09(d) (collectively, the “Domain Names”)Sellers.
(e) To the Knowledge of the Sellers, the Sellers have taken commercially reasonable measures to protect maintain the confidentiality of all Trade Secrets included trade secrets of the business of the Sellers that the Sellers intend to maintain as confidential, except as would not, individually or in the Owned Intellectual Property and no material Trade Secrets aggregate, have been disclosed by Sellers to any Person except pursuant to written non-disclosure agreements or other obligations of confidentiality, and, to Sellers’ Knowledge, there has not been a breach of any such agreement or obligation by any such PersonMaterial Adverse Effect.
(f) To Seller’s Knowledge, Sellers have obtained from each Person (including current and former employees and independent contractors) who has created or developed for or on behalf of Sellers any Owned Intellectual Property that is material to the Business a written, present and, valid assignment of such Intellectual Property to a Seller.
(g) To Sellers’ Knowledge, in the past three (3) years, there has been no material unauthorized access to or material unauthorized use of any confidential or proprietary information or data that is both in Sellers’ possession or control and material to the Business.
(h) With respect to any material Software included within the Transferred Intellectual Property, to Sellers’ Knowledge (i) such Software is free from any material bugs, viruses or other malicious code, (ii) the Source Code for such Software has not been disclosed to any Third Party, and (iii) such Software does not contain, derive from or link to any open source Software in a manner that requires the disclosure of any proprietary Source Code, limits the ability to charge fees, or grants any license to any Third Party to make derivative works.
(i) Neither the execution, delivery or performance of this Agreement, nor the consummation of the transactions contemplated by the Ancillary Agreements will result in the material loss or impairment of any of the Owned Intellectual Property.
(j) All third-party code that is incorporated into the proprietary Software included in the Transferred Intellectual Property and that is critical to the operation of such Software is commercially available (each a “Critical IP License” and collectively “Critical IP Licenses”), and following Closing, Buyer will be able to procure a license for all such third-party code for (i) an aggregate amount during the one-year period immediately following the Closing that shall not exceed the amount reflected for such third-party code in the Unaudited Financial Statements by more than $200,000, and (ii) an aggregate amount during the twelve (12) months period following the initial one-year period immediately following Closing that shall not exceed the amount reflected for such third-party code in the Unaudited Financial Statements by more than $200,000; provided that any increases in license fees resulting from a volume increase, additional licenses or other change in the operation of Business post Closing shall not be breaches of this representation.
(k) Buyer and Sellers agree that the representations and warranties included in this Section 4.09 shall be the sole and exclusive representations and warranties of Sellers with respect to Intellectual Property matters in this Agreement.
Appears in 2 contracts
Samples: Acquisition Agreement (Savient Pharmaceuticals Inc), Acquisition Agreement (Savient Pharmaceuticals Inc)
Intellectual Property. (a) Schedule 4.09(a) sets forth a true Sellers own or possess the right to use all of the Seller IP and complete list of all (i) Registered Intellectual Property included in Seller IPR. Sellers have the Owned Intellectual Property, indicating for each item the registration right to convey by sale or application number, the registration or application date, by license any such Seller IP and the applicable filing jurisdiction and (ii) Owned Intellectual Property Seller IPR that is not registered but that is material to the operation of the Business. Sellers exclusively own all, right, title and interest in all Owned Intellectual Property, free and clear of all Encumbrances (other than Permitted Encumbrances). Sellers are not bound by any outstanding judgment, injunction, order or decree or any contractual obligation materially restricting the use by a Seller of the Owned Intellectual Property, or materially restricting the licensing thereof to any Person. With respect to the Registered Intellectual Property included in the Owned Intellectual Property listed on Schedule 4.09(a), (i) all such Registered Intellectual Property is subsisting and, to Sellers’ Knowledge, valid and enforceable, (ii) a Seller is the owner of record, and (iii) all maintenance fees and filings that are required to be made to maintain such Registered Intellectual Property have been timely made (taking into account any applicable grace periods)so conveyed.
(b) Schedule 4.09(b) sets forth, Sellers have not granted any license to any Person to use any of the Seller IP or at Seller IPR other than in the Closing will set forth, a true and complete list ordinary course of all Intellectual Property Licensesbusiness. Except as set forth on Schedule 4.09(b)3.10, Sellers have provided Buyer with true and complete copies of all such Intellectual Property Licenses. All such Intellectual Property Licenses are(i) no Action is pending or, to Sellers’ ' Knowledge, validthreatened, binding and enforceable between against Sellers or any of their Affiliates where any of the applicable Seller and IP or Seller IPR is the other parties thereto, and basis for the Action; (ii) no Seller has received written notice that a Person has claimed and, to Sellers’ ' Knowledge no Person has alleged, any rights to the Seller IP or Seller IPR; (iii) to Sellers' Knowledge, such the conduct by Sellers of the Business, any process, method, part, design, material or other parties are in compliance with Seller IP or Seller IPR it employs, and the material terms marketing and conditions use by Sellers of such Intellectual Property LicensesBusiness and Seller IP or Seller IPR, in each case, does not infringe any IP or IPR of any other Person; (iv) Sellers are not obligated to pay any recurring royalties to any Person with respect to the use of any Seller IP or Seller IPR; and (v) to Sellers' Knowledge, no other Person has interfered with, infringed upon, or misappropriated, any Seller IP or Seller IPR.
(c) To Sellers’ KnowledgeUpon the applicable Staged Closing Date, the conduct Sellers will, subject to any third party rights therein, deliver to Buyers complete and correct copies of the Business as currently conducted does not infringesource code, misappropriate, dilute or otherwise violate, object code and in the past three (3) years has not infringed, misappropriated or otherwise violated, any Intellectual Property rights of any Third Party. Sellers have not received any notice that Sellers’ use of the Transferred Intellectual Property in the conduct of the Business as currently conducted infringes, misappropriates, dilutes or otherwise violates, or in the past three (3) years has infringed, misappropriated or otherwise violated, any Intellectual Property Rights of any Third Party. No Proceedings are pending user and no written notices have been received by Sellers during the past three (3) years (or earlier, if presently not resolved), in each case, alleging any infringement, misappropriation or other violation by Sellers of the Intellectual Property rights of any Third Party. Except as set forth in Schedule 4.09(c), to Sellers’ Knowledge, during the past three (3) years (or earlier, if presently not resolved) no Person has infringed, misappropriated, diluted or otherwise violated any of the Owned Intellectual Property or Transferred Technology, and no Seller has made or asserted any claim, demand or notice against any person or entity alleging any such infringement, misappropriation, dilution or other violation. There is no Proceeding pending or, to Sellers’ Knowledge, threatened, challenging a Seller’s ownership of any Owned Intellectual Property, or its right to use any Transferred Intellectual Property, or challenging the validity, registrability, or enforceability of any Registered Intellectual Property technical documentation for all computer software included in the Owned Intellectual PropertySeller IP and Seller IPR.
(d) Sellers represent that they are, each as applicable, the registrant of record of each domain name as set forth in Schedule 4.09(d) (collectively, the “Domain Names”).
(e) Sellers have taken commercially reasonable measures to protect the confidentiality of all Trade Secrets included in the Owned Intellectual Property and no material Trade Secrets have been disclosed by Sellers to any Person except pursuant to written non-disclosure agreements or other obligations of confidentiality, and, to Sellers’ Knowledge, there has not been a breach of any such agreement or obligation by any such Person.
(f) To Seller’s Knowledge, Sellers have obtained from each Person (including current and former employees and independent contractors) who has created or developed for or on behalf of Sellers any Owned Intellectual Property that is material to the Business a written, present and, valid assignment of such Intellectual Property to a Seller.
(g) To Sellers’ Knowledge, in the past three (3) years, there has been no material unauthorized access to or material unauthorized use of any confidential or proprietary information or data that is both in Sellers’ possession or control and material to the Business.
(h) With respect to any material Software included within the Transferred Intellectual Property, to Sellers’ Knowledge (i) such Software is free from any material bugs, viruses or other malicious code, (ii) the Source Code for such Software has not been disclosed to any Third Party, and (iii) such Software does not contain, derive from or link to any open source Software in a manner that requires the disclosure of any proprietary Source Code, limits the ability to charge fees, or grants any license to any Third Party to make derivative works.
(i) Neither the execution, delivery or performance of this Agreement, nor the consummation of the transactions contemplated by the Ancillary Agreements will result in the material loss or impairment of any of the Owned Intellectual Property.
(j) All third-party code that is incorporated into the proprietary Software included in the Transferred Intellectual Property and that is critical to the operation of such Software is commercially available (each a “Critical IP License” and collectively “Critical IP Licenses”), and following Closing, Buyer will be able to procure a license for all such third-party code for (i) an aggregate amount during the one-year period immediately following the Closing that shall not exceed the amount reflected for such third-party code in the Unaudited Financial Statements by more than $200,000, and (ii) an aggregate amount during the twelve (12) months period following the initial one-year period immediately following Closing that shall not exceed the amount reflected for such third-party code in the Unaudited Financial Statements by more than $200,000; provided that any increases in license fees resulting from a volume increase, additional licenses or other change in the operation of Business post Closing shall not be breaches of this representation.
(k) Buyer and Sellers agree that the representations and warranties included in this Section 4.09 shall be the sole and exclusive representations and warranties of Sellers with respect to Intellectual Property matters in this Agreement.
Appears in 2 contracts
Samples: Purchase and Sale Agreement (Corvis Corp), Purchase and Sale Agreement (Broadwing Inc)
Intellectual Property. (a) Schedule 4.09(a6.16(a) sets forth (i) a true true, correct and complete list and a brief description of all (i) Registered Intellectual Property included in the Owned Intellectual Property, indicating for each item the registration or application number, the registration or application date, and the applicable filing jurisdiction and (ii) Owned Intellectual Property that is not registered but that is material to the operation of the Business. Sellers exclusively own all, right, title and interest in all Owned Intellectual Property, free including a complete identification of each patent and clear of all Encumbrances (other than Permitted Encumbrances). Sellers are not bound by any outstanding judgment, injunction, order patent application and each registration or decree or any contractual obligation materially restricting the use by a Seller of the Owned Intellectual Property, or materially restricting the licensing thereof to any Person. With respect to the Registered Intellectual Property included in the Owned Intellectual Property listed on Schedule 4.09(a), (i) all such Registered Intellectual Property is subsisting and, to Sellers’ Knowledge, valid application for registration thereof; and enforceable, (ii) a true, correct and complete list and a brief description of all Licensed Intellectual Property, other than any software that is generally available on standard terms for less than US$1,000 per copy, seat, CPU or named user. The rights of the Company Representor or Seller is Representor in or to such Owned Intellectual Property and Licensed Intellectual Property do not conflict with or infringe on the owner rights of recordany other Person, and (iii) all maintenance fees and filings that are required none of any of the Company Representor or Seller Representor has received any claim or written notice from any Person to be made to maintain such Registered Intellectual Property have been timely made (taking into account any applicable grace periods)effect.
(b) Schedule 4.09(b) sets forthThe Company Representors have delivered to Purchaser true, or at the Closing will set forth, a true and complete list of all Intellectual Property Licenses. Except as set forth on Schedule 4.09(b), Sellers have provided Buyer with true correct and complete copies of all such the registrations for Owned Intellectual Property Licenses. All such and agreements pursuant to which the Licensed Intellectual Property Licenses are, identified on Schedule 6.16(a)(ii) have been licensed or sublicensed to Sellers’ Knowledge, valid, binding and enforceable between the applicable Company Representor or Seller and the other parties thereto, and Seller and, to Sellers’ Knowledge, such other parties are in compliance with the material terms and conditions of such Intellectual Property LicensesRepresentor.
(c) To Sellers’ KnowledgeThe Company Representor or Seller Representor owns all Owned Intellectual Property free and clear of any Encumbrance, other than any non-exclusive licenses granted by the conduct of the Business as currently conducted does not infringe, misappropriate, dilute Company Representor or otherwise violate, and Seller Representor in the past three (3) years ordinary course of business. The Company Representor or Seller Representor has not infringedthe right, misappropriated or otherwise violatedpursuant to valid and enforceable licenses, any Intellectual Property rights of any Third Party. Sellers have not received any notice that Sellers’ to use of the Transferred Licensed Intellectual Property in the conduct manner in which the Licensed Intellectual Property is currently being used. No Actions have been made or asserted or are pending (and, to the Knowledge of the Business as currently conducted infringesCompany Representor, misappropriates, dilutes no Action has been threatened) against the Company Representor or otherwise violates, Seller Representor either (i) based upon or in challenging or seeking to deny or restrict the past three (3) years has infringed, misappropriated use by the Company Representor or otherwise violated, any Intellectual Property Rights Seller Representor of any Third Party. No Proceedings are pending and no written notices have been received by Sellers during the past three (3) years (or earlier, if presently not resolved), in each case, alleging any infringement, misappropriation or other violation by Sellers of the Intellectual Property rights of any Third Party. Except as set forth in Schedule 4.09(c), to Sellers’ Knowledge, during the past three (3) years (or earlier, if presently not resolved) no Person has infringed, misappropriated, diluted or otherwise violated any of the Owned Intellectual Property or Transferred Technology, and no Seller has made the Licensed Intellectual Property; or asserted any claim, demand or notice against any person or entity (ii) alleging any such infringement, misappropriation, dilution or other violation. There is no Proceeding pending or, to Sellers’ Knowledge, threatened, challenging a Seller’s ownership of that any Owned Intellectual PropertyProperty or Licensed Intellectual Property is being licensed, sublicensed or its right to use used in violation of patents, copyrights or trademarks or any Transferred Intellectual Property, or challenging the validity, registrability, or enforceability other rights of any Registered Intellectual Property included in the Owned Intellectual Property.
(d) Sellers represent Person. No Person is using any patents, copyrights, trademarks, service marks, trade names, trade secrets or similar property that they are, each as applicable, the registrant of record of each domain name as set forth in Schedule 4.09(d) (collectively, the “Domain Names”).
(e) Sellers have taken commercially reasonable measures are confusingly similar to protect the confidentiality of all Trade Secrets included in the Owned Intellectual Property and no material Trade Secrets have been disclosed by Sellers to any Person except pursuant to written non-disclosure agreements or other obligations of confidentiality, and, to Sellers’ Knowledge, there has not been a breach of any such agreement or obligation by any such Person.
(f) To Seller’s Knowledge, Sellers have obtained from each Person (including current and former employees and independent contractors) who has created or developed for or on behalf of Sellers any Owned the Licensed Intellectual Property that is material exclusively licensed to the Business a written, present and, valid assignment of such Company Representor or Seller Representor or that infringe upon the Owned Intellectual Property to a Seller.
(g) To Sellers’ Knowledge, in or the past three (3) years, there has been no material unauthorized access to or material unauthorized use of any confidential or proprietary information or data Licensed Intellectual Property that is both in Sellers’ possession or control and material exclusively licensed to the Business.
(h) With respect to any material Software included within Company Representor or Seller Representor or upon the Transferred Intellectual Property, to Sellers’ Knowledge (i) such Software is free from any material bugs, viruses rights of the Company Representor or other malicious code, (ii) the Source Code for such Software has not been disclosed to any Third Party, and (iii) such Software does not contain, derive from or link to any open source Software in a manner that requires the disclosure of any proprietary Source Code, limits the ability to charge fees, or grants any license to any Third Party to make derivative works.
(i) Neither the execution, delivery or performance of this Agreement, nor the Seller Representor. The consummation of the transactions contemplated by the Ancillary Agreements this Agreement will not result in the material loss termination or impairment of any of the Owned Intellectual Property or Licensed Intellectual Property or any of the rights of the Company Representor or Seller Representor in any of the Owned Intellectual Property or Licensed Intellectual Property.
(jd) All third-party code that is incorporated into the proprietary Software included in the Transferred The Owned Intellectual Property and the Licensed Intellectual Property described in Schedule 6.16(a) constitute all of the Intellectual Property used or held or intended to be used by the Company Representor or Seller Representor, and there are no other items of Intellectual Property that is critical are material to the operation of such Software is commercially available (each a “Critical IP License” and collectively “Critical IP Licenses”), and following Closing, Buyer will be able to procure a license for all such third-party code for (i) an aggregate amount during the one-year period immediately following the Closing that shall not exceed the amount reflected for such third-party code in the Unaudited Financial Statements by more than $200,000, and (ii) an aggregate amount during the twelve (12) months period following the initial one-year period immediately following Closing that shall not exceed the amount reflected for such third-party code in the Unaudited Financial Statements by more than $200,000; provided that any increases in license fees resulting from a volume increase, additional licenses Company Representor or other change in the operation of Business post Closing shall not be breaches of this representationSeller Representor.
(ke) Buyer To the Knowledge of the Company Representor, there is no reason that would prevent any pending applications to register trademarks, service marks or copyrights or any pending patent applications from being granted.
(f) No product or service of the Company Representor or Seller Representor infringes or has infringed or otherwise violates or has violated the intellectual property rights of any other Person, and Sellers agree no Actions have been made or asserted or are pending (and, to the Knowledge of the Company Representor, no Action has been threatened) against the Company Representor or Seller Representor alleging that any product or service of the representations and warranties included in this Section 4.09 shall be Company Representor or Seller Representor infringes or violates the sole and exclusive representations and warranties intellectual property rights of Sellers with respect to Intellectual Property matters in this Agreementany other Person except as set forth on Schedule 6.16(f).
Appears in 2 contracts
Samples: Share Purchase Agreement, Share Purchase Agreement (Silicon Motion Technology CORP)
Intellectual Property. (a) Section 4.16(a) of the Sun Disclosure Schedule 4.09(a) sets forth a true true, correct and complete list of all (i) Registered Intellectual Property Patents; (ii) Mark registrations and pending applications for Mark registrations; and (iii) material unregistered Marks included in the Owned Intellectual PropertySun IP.
(b) Except as has not been and would not reasonably be expected to have a Material Adverse Effect with respect to Sun, indicating for each item the registration (i) Sun, or application number, the registration or application date, and the applicable filing jurisdiction Sun Subsidiary, is the sole and (ii) Owned Intellectual Property that is not registered but that is material to the operation exclusive owner of the Business. Sellers exclusively own all, all right, title and interest in all and to the Owned Intellectual PropertySun IP, free and clear of all Encumbrances Liens (other than Permitted EncumbrancesLiens). Sellers are not bound by any outstanding judgment, injunction, order or decree or any contractual obligation materially restricting the use by a Seller of the Owned Intellectual Property, or materially restricting the licensing thereof to any Person. With respect to the Registered Intellectual Property included in the Owned Intellectual Property listed on Schedule 4.09(a), (i) all such Registered Intellectual Property is subsisting and, to Sellers’ Knowledge, valid ; and enforceable, (ii) a Seller the material Sun Licensed IP is the owner of record, and (iii) all maintenance fees and filings that are required validly licensed to be made to maintain such Registered Intellectual Property have been timely made (taking into account any applicable grace periods).
(b) Schedule 4.09(b) sets forth, Sun or at the Closing will set forth, a true and complete list of all Intellectual Property Licenses. Except as set forth on Schedule 4.09(b), Sellers have provided Buyer with true and complete copies of all such Intellectual Property Licenses. All such Intellectual Property Licenses are, to Sellers’ Knowledge, valid, binding and enforceable between the applicable Seller Sun Subsidiary pursuant to written, valid agreements. Neither the execution and delivery of this Agreement nor the consummation of the Merger or the other parties thereto, and Seller and, transaction contemplated by this Agreement will result in the termination or invalidity of any agreements pursuant to Sellers’ Knowledge, such other parties are in compliance with which the material terms and conditions of such Intellectual Property LicensesSun Licensed IP is licensed to Sun or the applicable Sun Subsidiary.
(c) To Sellers’ Knowledge, the conduct of the Business as currently conducted does The Sun Offerings and Owned Sun IP do not infringe, misappropriate, dilute or otherwise violate, violate (and did not in the past three (3) years has not infringedinfringe, misappropriated misappropriate, dilute or otherwise violated, any Intellectual Property rights of any Third Party. Sellers have not received any notice that Sellers’ use of the Transferred Intellectual Property in the conduct of the Business as currently conducted infringes, misappropriates, dilutes or otherwise violates, or in the past three (3violate) years has infringed, misappropriated or otherwise violated, any Intellectual Property Rights of any Third PartyPerson, except as has not been and would not reasonably be expected to have a Material Adverse Effect. No Proceedings Neither Sun, nor any Sun Subsidiary, has received any written notice of and there are no proceedings pending and no written notices have been received by Sellers during the past three (3) years (or earlier, if presently not resolved), in each case, alleging any infringement, misappropriation or other violation by Sellers of the Intellectual Property rights of any Third Party. Except as set forth in Schedule 4.09(c)or, to Sellers’ Knowledgethe Knowledge of Sun, during the past three threatened that relate to (3i) years (or earlier, if presently not resolved) no Person has infringed, misappropriated, diluted or otherwise violated any alleged invalidity with respect to any of the Owned Sun IP; or (ii) any alleged infringement or misappropriation of any Intellectual Property or Transferred Technology, and no Seller has made or asserted any claim, demand or notice against any person or entity alleging any such infringement, misappropriation, dilution or other violation. There is no Proceeding pending or, to Sellers’ Knowledge, threatened, challenging a Seller’s ownership Rights of any Owned Intellectual Property, third party by Sun or its right to use any Transferred Intellectual Property, or challenging the validity, registrability, or enforceability of any Registered Intellectual Property included in the Owned Intellectual PropertySun Subsidiary.
(d) Sellers represent that they are, each as applicable, Sun and the registrant of record of each domain name as set forth in Schedule 4.09(d) (collectively, the “Domain Names”).
(e) Sellers Sun Subsidiaries have taken commercially reasonable measures to protect the confidentiality of any Owned Sun IP that Sun or the applicable Sun Subsidiary considers to be a material trade secret. No prior or current employee or officer or any prior or current consultant or contractor of Sun or any Sun Subsidiary has asserted, or to the Knowledge of Sun has claimed, any ownership in any Owned Sun IP.
(e) Section 4.16(e) of the Sun Disclosure Schedule lists all Trade Secrets included Contracts, licenses or other arrangements in effect as of the date of this Agreement under which Sun or a Sun Subsidiary has licensed, granted or conveyed to any third party any right, title or interest in or to any of Owned Sun IP (other than non-exclusive licenses granted to customers in the Owned Intellectual Property and no material Trade Secrets have been disclosed by Sellers ordinary course of business) to a competitor of Sun or any Person except pursuant to written non-disclosure agreements or other obligations of confidentiality, and, to Sellers’ Knowledge, there has not been a breach of any such agreement or obligation by any such PersonSun Subsidiary.
(f) To Seller’s KnowledgeExcept as set forth in Section 4.16(f), Sellers have obtained from each none of Sun nor any Sun Subsidiary is obligated to pay to any Person (including current and former employees and independent contractors) who has created any material royalties, fees, commissions or developed other amounts for the use by Sun or on behalf the Sun Subsidiaries of Sellers any Owned Intellectual Property that is material to the Business a written, present and, valid assignment of such Intellectual Property to a SellerRights.
(g) No Sun Intellectual Property Right is subject to any Contract containing any covenant or other provision that limits or restricts in any material manner, taken as a whole, the ability of Sun (i) to make, use, import, sell, offer for sale or promote any Sun offerings anywhere in the world; or (ii) to use, exploit, assert or enforce any of the material Sun Intellectual Property Rights anywhere in the world.
(h) To Sellers’ Knowledgethe Knowledge of Sun, no third party is challenging the right, title or interest of Sun or a Sun Subsidiary in, to or under, any Sun Intellectual Property Rights, or the validity, enforceability or claim construction of any Patent included in the Registered Sun Intellectual Property Rights. To the Knowledge of Sun, there is no undisclosed opposition, cancellation, proceeding, or objection involving a third party, pending with regard to any of the Registered Sun Intellectual Property Rights. Each of the officers, employees, contractors or consultants of Sun or the Sun Subsidiaries involved in the creation of their respective Intellectual Property Rights has executed and delivered to Sun or the applicable Sun Subsidiary an agreement regarding the protection of proprietary information. All current and former officers and employees of, and consultants and independent contractors to, Sun or the Sun Subsidiaries who have contributed to the creation or development of any material Sun Intellectual Property Rights has executed a valid and enforceable written agreement with the Sun or the applicable Sun Subsidiary that assigns to Sun or the applicable Sun Subsidiary all rights, title and interest in and to any and all such Intellectual Property Rights and, to the extent applicable, irrevocably waives such Person’s moral rights in such Intellectual Property Rights.
(i) The registration of any Registered Sun Intellectual Property Right is subsisting and in full force and effect, and all necessary registration, maintenance and renewal fees currently due in connection with the same have been made and to the Knowledge of Sun all necessary documents, recordations and certificates in connection with the same have been filed with the relevant patent, copyright, trademark or other authorities in the United States or other jurisdictions, as the case may be, for the purposes of maintaining and renewing such right, except where the failure to take any such action (i) was deemed unnecessary in the ordinary course of business; or (ii) would not be material to Sun’s business. No registration or application for any such Registered Sun Intellectual Property Right is subject to any payments, maintenance fees, or taxes or filings or actions falling due, including without limitation the filing of an affidavit of use, renewal, response to an official action, or other action required to maintain, perfect, preserve, or renew such Registered Sun Intellectual Property Rights which has not been made.
(j) Sun and the Sun Subsidiaries are in material compliance with the terms and conditions of all licenses for the Open Source Software. Except as set forth in Section 4.16(j) of the Sun Disclosure Schedule, Sun and the Sun Subsidiaries have not used Open Source Software in the Sun Offerings in a manner that requires, that other Software incorporated into, derived from or distributed with such Open Source Software be (1) disclosed or distributed in source code form, (2) be licensed for the purpose of making derivative works, or (3) be redistributable at no charge.
(k) Except as would not, individually or in the aggregate, reasonably be expected to have a Sun Material Adverse Effect, each of Sun and the Sun Subsidiaries is in compliance, and has for the past three (3) years complied, with all applicable Sun Data Protection Requirements. To the Knowledge of Sun, the information technology assets and equipment of each of Sun and the Sun Subsidiaries (collectively, “Sun IT Systems”) are adequate for, and operate and perform in all material respects as required in connection with the operation of the businesses of each of Sun and the Sun Subsidiaries as currently conducted. Each of Sun and the Sun Subsidiaries has, for the past three (3) years, taken commercially reasonable steps designed to ensure that all Personal Data, Sun Business Data, and Sun IT Systems maintained by or on behalf of each of Sun and the Sun Subsidiaries are protected against loss and unauthorized access, use, modification or disclosure, and, to the Knowledge of Sun, there has have been no material unauthorized access to or material unauthorized use incidents regarding the same that would require notification of any confidential or proprietary information or data that is both in Sellers’ possession or control and material to the Business.
(h) With respect to any material Software included within the Transferred Intellectual Propertyindividuals, to Sellers’ Knowledge (i) such Software is free from any material bugs, viruses or other malicious code, (ii) the Source Code for such Software has not been disclosed to any Third Party, and (iii) such Software does not contain, derive from or link to any open source Software in a manner that requires the disclosure of any proprietary Source Code, limits the ability to charge feeslaw enforcement, or grants any license Governmental Entity under any applicable Data Protection Law, or that would reasonably be expected to any Third Party to make derivative works.
(i) Neither the executionhave, delivery individually or performance of this Agreement, nor the consummation of the transactions contemplated by the Ancillary Agreements will result in the material loss or impairment of aggregate, a Sun Material Adverse Effect. In the past three (3) years, neither Sun nor any of the Owned Intellectual Property.
(j) All third-party code Sun Subsidiaries, has received written communication from any Governmental Entity that alleges that Sun or any of the Sun Subsidiaries is incorporated into the proprietary Software included not in compliance with any Data Protection Laws, except as would not reasonably be expected to have, individually or in the Transferred Intellectual Property and that is critical to the operation of such Software is commercially available (each aggregate, a “Critical IP License” and collectively “Critical IP Licenses”), and following Closing, Buyer will be able to procure a license for all such third-party code for (i) an aggregate amount during the one-year period immediately following the Closing that shall not exceed the amount reflected for such third-party code in the Unaudited Financial Statements by more than $200,000, and (ii) an aggregate amount during the twelve (12) months period following the initial one-year period immediately following Closing that shall not exceed the amount reflected for such third-party code in the Unaudited Financial Statements by more than $200,000; provided that any increases in license fees resulting from a volume increase, additional licenses or other change in the operation of Business post Closing shall not be breaches of this representationSun Material Adverse Effect.
(k) Buyer and Sellers agree that the representations and warranties included in this Section 4.09 shall be the sole and exclusive representations and warranties of Sellers with respect to Intellectual Property matters in this Agreement.
Appears in 2 contracts
Samples: Merger Agreement (Stratasys Ltd.), Merger Agreement (Desktop Metal, Inc.)
Intellectual Property. (a) Schedule 4.09(a) sets forth a true All trade names, inventions, discoveries, ideas, research, engineering, methods, practices, processes, systems, formulae, designs, drawings, products, projects, improvements, developments, know-how, and complete list of all (i) Registered Intellectual Property included trade secrets which are used in the Owned Intellectual Propertyconduct of CB's business, indicating for whether registered or unregistered (collectively the "Proprietary Rights") are owned by CB. To the knowledge of each item the registration Seller and CB, CB created or application numberdeveloped such Proprietary Rights and such Proprietary Rights are not subject to any restriction, the registration or application datelien, and the applicable filing jurisdiction and (ii) Owned Intellectual Property that is not registered but that is material to the operation of the Business. Sellers exclusively own allencumbrance, right, title and or interest in all Owned Intellectual Property, free and clear others. All of all Encumbrances (other than Permitted Encumbrances). Sellers the foregoing Proprietary Rights that are not bound by in the public domain stand solely in the name of CB and not in the name of any outstanding judgmentshareholder, injunctiondirector, order officer, agent, partner or decree employee or anyone else known to any contractual obligation materially restricting the use by a Seller or CB and none of the Owned Intellectual Propertysame have any right, title, interest, restriction, lien or materially restricting encumbrance therein or thereon or thereto. To the licensing thereof to any Person. With respect to the Registered Intellectual Property included in the Owned Intellectual Property listed on Schedule 4.09(a), (i) all such Registered Intellectual Property is subsisting and, to Sellers’ Knowledge, valid and enforceable, (ii) a Seller is the owner knowledge of record, and (iii) all maintenance fees and filings that are required to be made to maintain such Registered Intellectual Property have been timely made (taking into account any applicable grace periods).
(b) Schedule 4.09(b) sets forth, or at the Closing will set forth, a true and complete list of all Intellectual Property Licenses. Except as set forth on Schedule 4.09(b), Sellers have provided Buyer with true and complete copies of all such Intellectual Property Licenses. All such Intellectual Property Licenses are, to Sellers’ Knowledge, valid, binding and enforceable between the applicable each Seller and the other parties theretoCB, CB's ownership and Seller and, to Sellers’ Knowledge, such other parties are in compliance with the material terms and conditions of such Intellectual Property Licenses.
(c) To Sellers’ Knowledge, the conduct of the Business as currently conducted does not infringe, misappropriate, dilute or otherwise violate, and in the past three (3) years has not infringed, misappropriated or otherwise violated, any Intellectual Property rights of any Third Party. Sellers have not received any notice that Sellers’ use of the Transferred Intellectual Property Proprietary Rights do not and will not infringe upon, conflict with or violate in the conduct of the Business as currently conducted infringesany material respect any patent, misappropriatescopyright, dilutes trade secret or otherwise violates, or in the past three (3) years has infringed, misappropriated or otherwise violated, any Intellectual Property Rights other lawful proprietary right of any Third Party. No Proceedings are pending and no written notices have been received by Sellers during the past three (3) years (or earlier, if presently not resolved), in each case, alleging any infringement, misappropriation or other violation by Sellers of the Intellectual Property rights of any Third Party. Except as set forth in Schedule 4.09(c), to Sellers’ Knowledge, during the past three (3) years (or earlier, if presently not resolved) no Person has infringed, misappropriated, diluted or otherwise violated any of the Owned Intellectual Property or Transferred Technologyparty, and no Seller has made or asserted any claim, demand or notice against any person or entity alleging any such infringement, misappropriation, dilution or other violation. There claim is no Proceeding pending or, to Sellers’ Knowledge, threatened, challenging a Seller’s ownership the knowledge of any Owned Intellectual PropertySeller or CB, threatened to the effect that the operations of CB infringe upon or its right to use any Transferred Intellectual Property, or challenging conflict with the validity, registrability, or enforceability asserted rights of any Registered Intellectual Property included in the Owned Intellectual Property.
(d) Sellers represent that they are, each as applicable, the registrant of record of each domain name as set forth in Schedule 4.09(d) (collectively, the “Domain Names”).
(e) Sellers have taken commercially reasonable measures to protect the confidentiality of all Trade Secrets included in the Owned Intellectual Property and no material Trade Secrets have been disclosed by Sellers to any Person except pursuant to written non-disclosure agreements or other obligations of confidentiality, and, to Sellers’ Knowledge, there has not been a breach of any such agreement or obligation by any such Person.
(f) To Seller’s Knowledge, Sellers have obtained from each Person (including current and former employees and independent contractors) who has created or developed for or on behalf of Sellers any Owned Intellectual Property that is material to the Business a written, present and, valid assignment of such Intellectual Property to a Seller.
(g) To Sellers’ Knowledge, in the past three (3) years, there has been no material unauthorized access to or material unauthorized use of any confidential or proprietary information or data that is both in Sellers’ possession or control and material to the Business.
(h) With respect to any material Software included within the Transferred Intellectual Property, to Sellers’ Knowledge (i) such Software is free from any material bugs, viruses or other malicious code, (ii) the Source Code for such Software has not been disclosed to any Third Party, and (iii) such Software does not contain, derive from or link to any open source Software in a manner that requires the disclosure of any proprietary Source Code, limits the ability to charge fees, or grants any license to any Third Party to make derivative works.
(i) Neither the execution, delivery or performance of this Agreement, nor the consummation of the transactions contemplated by the Ancillary Agreements will result in the material loss or impairment of person under any of the Owned Intellectual Property.
(j) All third-party code that is incorporated into the proprietary Software included in the Transferred Intellectual Property Proprietary Rights, and that is critical to the operation knowledge of each Seller and CB there is no reasonable basis for any such Software claim (whether or not pending or threatened). No claim is commercially available (pending, or to the knowledge of each a “Critical IP License” Seller and collectively “Critical IP Licenses”)CB, and following Closing, Buyer will be able threatened to procure a license for all such third-party code for (i) an aggregate amount during the one-year period immediately following the Closing that shall not exceed the amount reflected for such third-party code in the Unaudited Financial Statements by more than $200,000, and (ii) an aggregate amount during the twelve (12) months period following the initial one-year period immediately following Closing that shall not exceed the amount reflected for such third-party code in the Unaudited Financial Statements by more than $200,000; provided effect that any increases in license fees resulting from a volume increasesuch Proprietary Rights owned or licensed by CB, additional licenses or which CB otherwise has the right to use, is invalid or unenforceable by CB and there is no reasonable basis for any such claim (whether or not pending or threatened). CB has not granted or assigned to any other change in person or entity any right to manufacture, have manufactured, assemble or sell the operation products or proposed products or to provide the services or proposed services of Business post Closing shall not be breaches of this representationSeller.
(k) Buyer and Sellers agree that the representations and warranties included in this Section 4.09 shall be the sole and exclusive representations and warranties of Sellers with respect to Intellectual Property matters in this Agreement.
Appears in 2 contracts
Samples: Agreement and Plan of Reorganization (Ohio & Southwestern Energy Co), Agreement and Plan of Reorganization (Ohio & Southwestern Energy Co)
Intellectual Property. (a) Schedule 4.09(a) sets forth a true and complete list Cortext has not interfered with, infringed upon, misappropriated or otherwise come into conflict in any material respect with any rights of all (i) Registered Intellectual Property included in the Owned third parties with respect to Cortext Intellectual Property, indicating for each item the registration and Cortext has not received any charge, complaint, claim, demand or application numbernotice alleging any such interference, the registration infringement, misappropriation or application dateconflict, and the applicable filing jurisdiction and no such claim is impliedly threatened by an offer to license from a third party under a claim of use;
(iib) Owned Intellectual Property that is not registered but that is material Subject to the operation of the Business. Sellers exclusively own allAssignment Agreement, Cortext owns all right, title and interest in and to all Owned of the Cortext Intellectual Property, free and clear of all Encumbrances Property (other than Permitted Encumbrances). Sellers are not bound by any outstanding judgment, injunction, order or decree or any contractual obligation materially restricting the use by a Seller of the Owned Licensed Intellectual Property, or materially restricting the licensing thereof to any Person. With respect to the Registered Intellectual Property included in the Owned Intellectual Property listed on Schedule 4.09(a), (i) all such Registered Intellectual Property is subsisting and, to Sellers’ Knowledge, valid and enforceable, (ii) a Seller is the owner of record, and (iii) all maintenance fees and filings that are required to be made to maintain such Registered Intellectual Property have been timely made (taking into account any applicable grace periods).
(b) Schedule 4.09(b) sets forth, or at the Closing will set forth, a true and complete list of all Intellectual Property Licenses. Except as set forth on Schedule 4.09(b), Sellers have provided Buyer with true and complete copies of all such Intellectual Property Licenses. All such Intellectual Property Licenses are, to Sellers’ Knowledge, valid, binding and enforceable between the applicable Seller and the other parties thereto, and Seller and, to Sellers’ Knowledge, such other parties are in compliance with the material terms and conditions of such Intellectual Property Licenses.;
(c) To Sellers’ KnowledgeSubject to the Assignment Agreement, Cortext has the right to use all Intellectual Property necessary or required for the conduct of the Business its business as currently conducted does not infringeor contemplated by this Agreement or the Exhibits hereto or for use by VCI pursuant to the Software License Agreement;
(d) There are no royalties, misappropriatehonoraria, dilute fees or otherwise violateother payments payable by Cortext to any Person by reason of the ownership, and use, license, sale or disposition of any Intellectual Property;
(e) No activity, service or procedure currently conducted or contemplated by this Agreement or the Exhibits hereto violates any agreement governing the use of Licensed Intellectual Property;
(f) Neither Planet nor any other third party participated in the past three (3) years has not infringed, misappropriated or otherwise violated, any Intellectual Property rights development of any Third Party. Sellers have not received any notice that Sellers’ use of the Transferred Intellectual Property in the conduct of the Business as currently conducted infringes, misappropriates, dilutes or otherwise violates, or in the past three (3) years has infringed, misappropriated or otherwise violated, any Intellectual Property Rights of any Third Party. No Proceedings are pending and no written notices have been received by Sellers during the past three (3) years (or earlier, if presently not resolved), in each case, alleging any infringement, misappropriation or other violation by Sellers of the Intellectual Property rights of any Third Party. Except as set forth in Schedule 4.09(c), to Sellers’ Knowledge, during the past three (3) years (or earlier, if presently not resolved) no Person has infringed, misappropriated, diluted or otherwise violated any of the Owned Cortext Intellectual Property or Transferred TechnologyProperty;
(g) Cortext has taken reasonable and practicable steps (including, without limitation, entering into confidentiality and nondisclosure agreements and proprietary rights agreements with all officers, directors and employees of, and no Seller consultants to, Cortext with access to or knowledge of the Cortext Intellectual Property) designed to safeguard and maintain the secrecy and confidentiality of, and its proprietary rights in, all Cortext Intellectual Property; and
(h) Cortext has made not sent to any third party or asserted otherwise communicated to another Person any charge, complaint, claim, demand or notice against asserting infringement or misappropriation of, or other conflict with, Cortext Intellectual Property by such other Person or any person or entity alleging acts of unfair competition by such other Person, nor, to the best knowledge of Cortext, is any such infringement, misappropriation, dilution conflict or other violation. There is no Proceeding pending or, to Sellers’ Knowledge, act of unfair competition occurring or threatened, challenging a Seller’s ownership of any Owned Intellectual Property, or its right to use any Transferred Intellectual Property, or challenging the validity, registrability, or enforceability of any Registered Intellectual Property included in the Owned Intellectual Property.
(d) Sellers represent that they are, each as applicable, the registrant of record of each domain name as set forth in Schedule 4.09(d) (collectively, the “Domain Names”).
(e) Sellers have taken commercially reasonable measures to protect the confidentiality of all Trade Secrets included in the Owned Intellectual Property and no material Trade Secrets have been disclosed by Sellers to any Person except pursuant to written non-disclosure agreements or other obligations of confidentiality, and, to Sellers’ Knowledge, there has not been a breach of any such agreement or obligation by any such Person.
(f) To Seller’s Knowledge, Sellers have obtained from each Person (including current and former employees and independent contractors) who has created or developed for or on behalf of Sellers any Owned Intellectual Property that is material to the Business a written, present and, valid assignment of such Intellectual Property to a Seller.
(g) To Sellers’ Knowledge, in the past three (3) years, there has been no material unauthorized access to or material unauthorized use of any confidential or proprietary information or data that is both in Sellers’ possession or control and material to the Business.
(h) With respect to any material Software included within the Transferred Intellectual Property, to Sellers’ Knowledge (i) such Software is free from any material bugs, viruses or other malicious code, (ii) the Source Code for such Software has not been disclosed to any Third Party, and (iii) such Software does not contain, derive from or link to any open source Software in a manner that requires the disclosure of any proprietary Source Code, limits the ability to charge fees, or grants any license to any Third Party to make derivative works.
(i) Neither the execution, delivery or performance of this Agreement, nor the consummation of the transactions contemplated by the Ancillary Agreements will result in the material loss or impairment of any of the Owned Intellectual Property.
(j) All third-party code that is incorporated into the proprietary Software included in the Transferred Intellectual Property and that is critical to the operation of such Software is commercially available (each a “Critical IP License” and collectively “Critical IP Licenses”), and following Closing, Buyer will be able to procure a license for all such third-party code for (i) an aggregate amount during the one-year period immediately following the Closing that shall not exceed the amount reflected for such third-party code in the Unaudited Financial Statements by more than $200,000, and (ii) an aggregate amount during the twelve (12) months period following the initial one-year period immediately following Closing that shall not exceed the amount reflected for such third-party code in the Unaudited Financial Statements by more than $200,000; provided that any increases in license fees resulting from a volume increase, additional licenses or other change in the operation of Business post Closing shall not be breaches of this representation.
(k) Buyer and Sellers agree that the representations and warranties included in this Section 4.09 shall be the sole and exclusive representations and warranties of Sellers with respect to Intellectual Property matters in this Agreement.
Appears in 2 contracts
Samples: Share Purchase Agreement (Virtual Communities Inc/De/), Share Purchase Agreement (Virtual Communities Inc/De/)
Intellectual Property. (a) Schedule 4.09(a) sets forth a true and complete list All of all (i) Registered the Intellectual Property included in the Owned Intellectual PropertyAssets are wholly and exclusively owned by, indicating for each item the registration or application numberduly and validly licensed to, the registration or application date, and the applicable filing jurisdiction and (ii) Owned Intellectual Property that is not registered but that is material to the operation of the Business. Sellers exclusively own all, right, title and interest in all Owned Intellectual Property, Seller free and clear of all Encumbrances (other than Permitted Encumbrances). Sellers are The Seller has not bound by transferred ownership of, granted any outstanding judgment, injunction, order exclusive license of or decree or any contractual obligation materially restricting the use by a Seller of the Owned Intellectual Propertyexclusive right to use, or materially restricting the licensing thereof granted any exclusive rights in or to joint ownership of, any Intellectual Property Assets to any other Person. With respect No person other than the Seller possesses any current or contingent rights of any kind to the Registered Intellectual Property any source code included in the Owned Intellectual Property listed on Schedule 4.09(a)Assets, (i) all such Registered and the Seller has not granted any current or contingent rights of any kind to any source code that is part of any Intellectual Property is subsisting andAsset. All Intellectual Property Assets are fully transferable, alienable or licensable by the Seller without restriction and without payment of any kind to Sellers’ Knowledge, valid and enforceable, any Person (ii) a Seller is the owner of record, and (iii) all maintenance fees and filings that are excluding payments required to be made to maintain such Registered record transfer with the United States Patent and Trademark Office or the Canadian Intellectual Property have been timely made (taking into account any applicable grace periodsOffice).
(b) Schedule 4.09(bThere are no Contracts to which the either Seller Party is a party with respect to (i) sets forththe license of any third-party Intellectual Property by the Seller excluding commercially available off-the-shelf software, or at (ii) the Closing will set forth, a true and complete list license of all any Intellectual Property Licenses. Except as set forth on Schedule 4.09(b), Sellers have provided Buyer with true and complete copies of all such Intellectual Property Licenses. All such Intellectual Property Licenses are, Asset to Sellers’ Knowledge, valid, binding and enforceable between the applicable Seller and the other parties thereto, and Seller and, to Sellers’ Knowledge, such other parties are in compliance with the material terms and conditions of such Intellectual Property Licensesa third party.
(c) To Sellers’ Knowledge, the The conduct of the Business as currently conducted Business, including the use and other exploitation of the Intellectual Property Assets, has not infringed, misappropriated, diluted or violated, and does not infringe, misappropriate, dilute or otherwise violate, and in the past three (3) years has not infringed, misappropriated or otherwise violated, any Intellectual Property rights of any Third PartyPerson. Sellers have The Seller has not received any written notice or claim asserting that Sellers’ use of the Transferred Intellectual Property in the conduct of the Business as currently conducted infringes, misappropriates, dilutes or otherwise violates, or in the past three (3) years has infringed, misappropriated or otherwise violated, any Intellectual Property Rights of any Third Party. No Proceedings are pending and no written notices have been received by Sellers during the past three (3) years (or earlier, if presently not resolved), in each case, alleging any infringement, misappropriation or other violation by Sellers of the Intellectual Property rights of any Third Party. Except as set forth in Schedule 4.09(c), to Sellers’ Knowledge, during the past three (3) years (or earlier, if presently not resolved) no Person has infringed, misappropriated, diluted or otherwise violated any of the Owned Intellectual Property or Transferred Technology, and no Seller has made or asserted any claim, demand or notice against any person or entity alleging any such infringement, misappropriation, dilution or other violation. There is no Proceeding pending orviolation has occurred and, to Sellers’ the Seller’s Knowledge, threatened, challenging no facts or circumstances exist that would provide a Seller’s ownership reasonable basis for any such claim. The Seller has not received any offer for a license of any Owned Intellectual Property, or its right to use any Transferred Intellectual Property, or challenging the validity, registrability, or enforceability of any Registered Intellectual Property included from any Person in connection with an allegation by such Person that the Owned Seller has infringed or misappropriated any of the Intellectual PropertyProperty of such Person.
(d) Sellers represent The conduct of the Business, including the use and other exploitation of the Intellectual Property Assets, does not constitute unfair competition or trade practices under the Laws of any jurisdiction. The Seller has not received any written notice or claim asserting any such unfair competition or trade practices and, to the Seller’s Knowledge, no facts or circumstances exist that they are, each as applicable, the registrant of record of each domain name as set forth in Schedule 4.09(d) (collectively, the “Domain Names”)would provide a reasonable basis for any such claim.
(e) Sellers All current and former employees of the Seller who have taken commercially reasonable measures contributed to protect the confidentiality of all Trade Secrets included or created any portion of, or otherwise may have rights in the Owned or to, any Intellectual Property Assets meet all of the following requirements: (i) their work in any Intellectual Property Asset was created by them entirely within the scope of their employment by the Seller; (ii) their copyrightable work product in any Intellectual Property Asset is owned by the Seller as a work made for hire under applicable copyright law or has otherwise been validly assigned to the Seller under one of the Seller’s standard form(s) of employee invention assignment or similar; and no material Trade Secrets (iii) any inventions, improvements or discoveries of such employees that are included or implemented in any Intellectual Property Asset have been disclosed by Sellers validly assigned to the Seller; and (iv) any Person except pursuant to written non-disclosure agreements or other obligations of confidentiality, and, to Sellers’ Knowledge, there moral rights in any Intellectual Property Asset has not been a breach of any such agreement or obligation by any such Personwaived under an Employee Assignment Agreement.
(f) To Seller’s Knowledge, Sellers have obtained from each Person (including All current and former employees consultants, contractors and independent contractors) who has any other non-employee Persons engaged or retained by the Seller that have contributed to or created any portion of, or developed for otherwise may have rights in or to, any Intellectual Property Asset have executed and delivered, and are in compliance with, written agreements that validly and effectively assign to the Seller all Intellectual Property conceived, created, developed, written, invented, discovered or reduced to practice on behalf of Sellers any Owned Intellectual Property that is material to the Business a writtenSeller by such consultants, present andcontractors, valid assignment of such Intellectual Property to a Seller.
(g) To Sellers’ Knowledge, in the past three (3) years, there has been no material unauthorized access to or material unauthorized use of any confidential or proprietary information or data that is both in Sellers’ possession or control and material to the Business.
(h) With respect to any material Software included within the Transferred Intellectual Property, to Sellers’ Knowledge (i) such Software is free from any material bugs, viruses or other malicious code, (ii) the Source Code for such Software has not been disclosed to any Third Party, and (iii) such Software does not contain, derive from or link to any open source Software in a manner that requires the disclosure of any proprietary Source Code, limits the ability to charge fees, or grants any license to any Third Party to make derivative worksPersons.
(i) Neither the execution, delivery or performance of this Agreement, nor the consummation of the transactions contemplated by the Ancillary Agreements will result in the material loss or impairment of any of the Owned Intellectual Property.
(j) All third-party code that is incorporated into the proprietary Software included in the Transferred Intellectual Property and that is critical to the operation of such Software is commercially available (each a “Critical IP License” and collectively “Critical IP Licenses”), and following Closing, Buyer will be able to procure a license for all such third-party code for (i) an aggregate amount during the one-year period immediately following the Closing that shall not exceed the amount reflected for such third-party code in the Unaudited Financial Statements by more than $200,000, and (ii) an aggregate amount during the twelve (12) months period following the initial one-year period immediately following Closing that shall not exceed the amount reflected for such third-party code in the Unaudited Financial Statements by more than $200,000; provided that any increases in license fees resulting from a volume increase, additional licenses or other change in the operation of Business post Closing shall not be breaches of this representation.
(k) Buyer and Sellers agree that the representations and warranties included in this Section 4.09 shall be the sole and exclusive representations and warranties of Sellers with respect to Intellectual Property matters in this Agreement.
Appears in 2 contracts
Samples: Asset Purchase Agreement (LQR House Inc.), Asset Purchase Agreement (LQR House Inc.)
Intellectual Property. (a) Parent and its Subsidiaries own, or have valid and enforceable licenses to use, all the Intellectual Property used by Parent and its Subsidiaries, and such Intellectual Property represents all intellectual property rights necessary for the conduct of their business as and where conducted on the date hereof. Parent and its Subsidiaries are in compliance in all material respects with all licenses relating to the protection of such of the Intellectual Property used by Parent and its Subsidiaries as it uses pursuant to license or other agreement. To the Knowledge of Parent, there are no conflicts with or infringements of any Intellectual Property used by Parent and its Subsidiaries by any third party. To the Knowledge of Parent, the conduct of the business of Parent and its Subsidiaries does not conflict with, violate, misappropriate, misuse or infringe any proprietary right of any third party. There is no claim, suit, action or proceeding pending or, to the Knowledge of Parent, threatened, against Parent or its Subsidiaries: (i) alleging any such conflict, violation, misappropriation, misuse or infringement with or of any third party’s proprietary rights; or (ii) challenging Parent’s or its Subsidiaries’ ownership or use of, or the validity or enforceability of, any Intellectual Property owned or used by Parent and its Subsidiaries.
(b) Schedule 4.09(a4.14(b) sets forth a true complete and complete current list of all registrations, applications or filings pertaining to the Intellectual Property owned by Parent and its Subsidiaries (i“Parent Registered Intellectual Property”) as of the date hereof and the owner of record, date of application or issuance, and relevant jurisdiction as to each. Except as described on Schedule 4.14(b), all Parent Registered Intellectual Property included in the Owned Intellectual Property, indicating for each item the registration or application number, the registration or application date, and the applicable filing jurisdiction and (ii) Owned Intellectual Property that is not registered but that is material to the operation of the Business. Sellers exclusively own all, right, title and interest in all Owned Intellectual Propertyowned by Parent and/or its Subsidiaries, free and clear of all Encumbrances (Liens other than Permitted Encumbrances)Liens. Sellers are not bound by any outstanding judgment, injunction, order or decree or any contractual obligation materially restricting the use by a Seller of the Owned Intellectual Property, or materially restricting the licensing thereof to any Person. With respect to the Registered Intellectual Property included in the Owned Intellectual Property listed on Schedule 4.09(a), (i) all such All Parent Registered Intellectual Property is subsisting andvalid, to Sellers’ Knowledgesubsisting, valid and enforceable, (ii) a Seller is the owner of recordunexpired, and (iii) all renewal fees and other maintenance fees and filings that have fallen due on or prior to the Closing have been paid. Except as listed on Schedule 4.14(b), there are required to no actions that must be taken or payments that must be made by Parent or its Subsidiaries within one hundred eighty (180) days of the Closing that, if not taken or paid, will adversely affect the Intellectual Property owned or used by Parent and its Subsidiaries or the right of Parent or its Subsidiaries to maintain such use the same as and where used as of the date hereof. Except as listed on Schedule 4.14(b), no Parent Registered Intellectual Property have been timely made (taking into account is the subject of any applicable grace periods)proceeding before any governmental, registration or other authority in any jurisdiction, including any office action or other form of preliminary or final refusal of registration. The consummation of the transactions contemplated by this Agreement will not alter or impair in any material respect any Intellectual Property owned or used by Parent and its Subsidiaries.
(bc) Schedule 4.09(b4.14(c) sets forth, or at the Closing will set forth, forth a true and complete list of all material license agreements pertaining to Intellectual Property Licensesowned or used by Parent and its Subsidiaries as of the date hereof, except for agreements pertaining to commercially available, off-the-shelf software. Except as set forth on Schedule 4.09(b4.14(c), Sellers have provided Buyer neither Parent nor any of its Subsidiaries is under any obligation to pay royalties or other payments in connection with true and complete copies of all such any agreement, nor restricted from assigning its rights respecting Intellectual Property Licensesowned or used by Parent and its Subsidiaries. All such Neither Parent nor any of its Subsidiaries will be, as a result of the execution and delivery of this Agreement or the performance of its obligations under this Agreement, in breach of any agreement relating to the Intellectual Property Licenses are, to Sellers’ Knowledge, valid, binding owned or used by Parent and enforceable between the applicable Seller and the other parties thereto, and Seller and, to Sellers’ Knowledge, its Subsidiaries. Neither Parent nor its Subsidiaries is in material default of any such other parties are in compliance with the material terms and conditions of such Intellectual Property Licensesagreement.
(cd) To Sellers’ KnowledgeExcept as set forth on Schedule 4.14(d), the conduct neither Parent nor any of the Business as currently conducted does not infringeits Subsidiaries has made any claim of a violation, misappropriateinfringement, dilute misuse or otherwise violatemisappropriation by any third party (including any employee or former employee of Parent or its Subsidiaries) of its rights to, and or in the past three (3) years has not infringed, misappropriated or otherwise violatedconnection with, any Intellectual Property rights of any Third Party. Sellers have not received any notice that Sellers’ use of the Transferred Intellectual Property in the conduct of the Business as currently conducted infringesowned or used by Parent and its Subsidiaries, misappropriates, dilutes or otherwise violates, or in the past three (3) years has infringed, misappropriated or otherwise violated, any Intellectual Property Rights of any Third Party. No Proceedings are pending and no written notices have been received by Sellers during the past three (3) years (or earlier, if presently not resolved), in each case, alleging any infringement, misappropriation or other violation by Sellers of the Intellectual Property rights of any Third Partywhich claim is pending. Except as set forth in on Schedule 4.09(c4.14(d), to Sellers’ Knowledge, during the past three (3) years (or earlier, if presently not resolved) no Person has infringed, misappropriated, diluted or otherwise violated neither Parent nor any of the Owned its Subsidiaries has entered into any agreement to indemnify any other Person against any charge of infringement of any Intellectual Property owned or Transferred Technologyused by Parent and its Subsidiaries, other than indemnification provisions contained in employment policies and no Seller has made agreements, customer agreements, purchase orders or asserted any claim, demand or notice against any person or entity alleging any such infringement, misappropriation, dilution or other violation. There is no Proceeding pending or, to Sellers’ Knowledge, threatened, challenging a Seller’s ownership of any Owned Intellectual Property, or its right to use any Transferred Intellectual Property, or challenging the validity, registrability, or enforceability of any Registered Intellectual Property included license agreements arising in the Owned Intellectual Propertyordinary course of business.
(d) Sellers represent that they are, each as applicable, the registrant of record of each domain name as set forth in Schedule 4.09(d) (collectively, the “Domain Names”).
(e) Sellers have taken commercially reasonable measures to protect the confidentiality of all Trade Secrets included in the Owned Intellectual Property and no material Trade Secrets have been disclosed by Sellers to any Person except pursuant to written non-disclosure agreements or other obligations of confidentiality, and, to Sellers’ Knowledge, there has not been a breach of any such agreement or obligation by any such Person.
(f) To Seller’s Knowledge, Sellers have obtained from each Person (including current and former employees and independent contractors) who has created or developed for or on behalf of Sellers any Owned Intellectual Property that is material to the Business a written, present and, valid assignment of such Intellectual Property to a Seller.
(g) To Sellers’ Knowledge, in the past three (3) years, there has been no material unauthorized access to or material unauthorized use of any confidential or proprietary information or data that is both in Sellers’ possession or control and material to the Business.
(h) With respect to any material Software included within the Transferred Intellectual Property, to Sellers’ Knowledge (i) such Software is free from any material bugs, viruses or other malicious code, (ii) the Source Code for such Software has not been disclosed to any Third Party, and (iii) such Software does not contain, derive from or link to any open source Software in a manner that requires the disclosure of any proprietary Source Code, limits the ability to charge fees, or grants any license to any Third Party to make derivative works.
(i) Neither the execution, delivery or performance of this Agreement, nor the consummation of the transactions contemplated by the Ancillary Agreements will result in the material loss or impairment of any of the Owned Intellectual Property.
(j) All third-party code that is incorporated into the proprietary Software included in the Transferred Intellectual Property and that is critical to the operation of such Software is commercially available (each a “Critical IP License” and collectively “Critical IP Licenses”), and following Closing, Buyer will be able to procure a license for all such third-party code for (i) an aggregate amount during the one-year period immediately following the Closing that shall not exceed the amount reflected for such third-party code in the Unaudited Financial Statements by more than $200,000, and (ii) an aggregate amount during the twelve (12) months period following the initial one-year period immediately following Closing that shall not exceed the amount reflected for such third-party code in the Unaudited Financial Statements by more than $200,000; provided that any increases in license fees resulting from a volume increase, additional licenses or other change in the operation of Business post Closing shall not be breaches of this representation.
(k) Buyer and Sellers agree that the representations and warranties included in this Section 4.09 shall be the sole and exclusive representations and warranties of Sellers with respect to Intellectual Property matters in this Agreement.
Appears in 2 contracts
Samples: Merger Agreement (Babyuniverse, Inc.), Merger Agreement (eToys Direct, Inc.)
Intellectual Property. Section 5.11 of the Disclosure Schedule sets forth a true, correct and complete list, with the application number, application date, registration/issue number, registration/issue date, title or xxxx, country or other jurisdiction and owner(s), as applicable, a complete and correct list of all the following registered Owned Intellectual Property as of the date of this Agreement: (a) Schedule 4.09(apatents; (b) sets forth a true trademarks and complete list applications therefor; (c) copyrights and applications therefor; and (d) domain names. Holdco or Enginetics owns and possesses, free and clear of all (i) Registered Intellectual Property included in the Owned Intellectual PropertyLiens, indicating for each item the registration or application numberother than Permitted Liens, the registration or application date, and the applicable filing jurisdiction and (ii) Owned Intellectual Property that is not registered but that is material to the operation of the Business. Sellers exclusively own all, all right, title and interest in all and to the Owned Intellectual PropertyProperty set forth in Section 5.11 of the Disclosure Schedule, free or has the right to use pursuant to a valid and clear enforceable license, all other Intellectual Property used or held for use in the operation of the business of Holdco or Enginetics as currently conducted. All Owned Intellectual Property are currently in compliance with all Encumbrances formal legal requirements relating to registration, continuance and maintenance of such Owned Intellectual Property (including payment of any filing, examination, maintenance, affidavit of use and other fees). Except pursuant to a Contract set forth in Section 5.11 of the Disclosure Schedule, neither Holdco nor Enginetics has, other than Permitted Encumbrances). Sellers are not bound by through shrink wrap or click wrap software licenses, licensed any outstanding judgmentIntellectual Property from any Person, injunction, order nor has Holdco or decree Enginetics granted any license or other right that permits or enables anyone other than Holdco or Enginetics to use any contractual obligation materially restricting the use by a Seller of the Owned Intellectual Property, or materially restricting the licensing thereof to any Person. With respect to the Registered Intellectual Property included in the Owned Intellectual Property listed on Schedule 4.09(a), (i) all such Registered Intellectual Property is subsisting and, to Sellers’ Knowledge, valid and enforceable, (ii) a Seller is the owner of record, and (iii) all maintenance fees and filings that are required to be made to maintain such Registered Intellectual Property have been timely made (taking into account any applicable grace periods).
(b) Schedule 4.09(b) sets forth, or at the Closing will set forth, a true and complete list of all Intellectual Property Licenses. Except as set forth on Schedule 4.09(b), Sellers have provided Buyer with true and complete copies of all such Intellectual Property Licenses. All such Intellectual Property Licenses are, to Sellers’ Knowledge, valid, binding and enforceable between the applicable Seller and the other parties thereto, and Seller and, to Sellers’ Knowledge, such other parties are in compliance with the material terms and conditions of such Intellectual Property Licenses.
(c) To Sellers’ Knowledge, the conduct of the Business as currently conducted does not infringe, misappropriate, dilute or otherwise violate, and in the past three (3) years has not infringed, misappropriated or otherwise violated, any Intellectual Property rights of any Third Party. Sellers have not received any notice that Sellers’ use of the Transferred Intellectual Property in the conduct of the Business as currently conducted infringes, misappropriates, dilutes or otherwise violates, or in the past three (3) years has infringed, misappropriated or otherwise violated, any Intellectual Property Rights of any Third Party. No Proceedings are pending and no written notices have been received by Sellers during the past three (3) years (or earlier, if presently not resolved), in each case, alleging any infringement, misappropriation or other violation by Sellers of the Intellectual Property rights of any Third Party. Except as set forth in Schedule 4.09(c)Section 5.11 of the Disclosure Schedule, neither Holdco nor Enginetics has received any written notice of any claim and, to Sellers’ Holdco’s Knowledge, during the past three (3) years (there is no Threatened claim, against Holdco or earlier, if presently not resolved) no Person has infringed, misappropriated, diluted or otherwise violated Enginetics asserting that any of the Owned Intellectual Property infringes upon or Transferred Technology, and no Seller has made or asserted any claim, demand or notice against any person or entity alleging any such infringement, misappropriation, dilution or other violation. There is no Proceeding pending or, to Sellers’ Knowledge, threatened, challenging a Seller’s ownership otherwise conflicts with the Intellectual Property of any Owned Intellectual PropertyPerson, nor has Holdco or its right to use Enginetics within the last two years given any Transferred Intellectual Property, or challenging the validity, registrability, or enforceability of any Registered Intellectual Property included in the Owned Intellectual Property.
(d) Sellers represent that they are, each as applicable, the registrant of record of each domain name as set forth in Schedule 4.09(d) (collectively, the “Domain Names”).
(e) Sellers have taken commercially reasonable measures to protect the confidentiality of all Trade Secrets included in the Owned Intellectual Property and no material Trade Secrets have been disclosed by Sellers notice to any Person except pursuant to written non-disclosure agreements or other obligations of confidentiality, and, to Sellers’ Knowledge, there has not been a breach of any asserting infringement by such agreement or obligation by any such Person.
(f) To Seller’s Knowledge, Sellers have obtained from each Person (including current and former employees and independent contractors) who has created or developed for or on behalf of Sellers any Owned Intellectual Property that is material to the Business a written, present and, valid assignment of such Intellectual Property to a Seller.
(g) To Sellers’ Knowledge, in the past three (3) years, there has been no material unauthorized access to or material unauthorized use of any confidential or proprietary information or data that is both in Sellers’ possession or control and material to the Business.
(h) With respect to any material Software included within the Transferred Intellectual Property, to Sellers’ Knowledge (i) such Software is free from any material bugs, viruses or other malicious code, (ii) the Source Code for such Software has not been disclosed to any Third Party, and (iii) such Software does not contain, derive from or link to any open source Software in a manner that requires the disclosure of any proprietary Source Code, limits the ability to charge fees, or grants any license to any Third Party to make derivative works.
(i) Neither the execution, delivery or performance of this Agreement, nor the consummation of the transactions contemplated by the Ancillary Agreements will result in the material loss or impairment of any of the Owned Intellectual Property.
(j) All third-party code that is incorporated into the proprietary Software included in the Transferred Intellectual Property and that is critical . Notwithstanding anything to the operation of such Software is commercially available (each a “Critical IP License” and collectively “Critical IP Licenses”)contrary contained in this Agreement, and following Closing, Buyer will be able to procure a license for all such third-party code for (i) an aggregate amount during the one-year period immediately following the Closing that shall not exceed the amount reflected for such third-party code in the Unaudited Financial Statements by more than $200,000, and (ii) an aggregate amount during the twelve (12) months period following the initial one-year period immediately following Closing that shall not exceed the amount reflected for such third-party code in the Unaudited Financial Statements by more than $200,000; provided that any increases in license fees resulting from a volume increase, additional licenses or other change in the operation of Business post Closing shall not be breaches of this representation.
(k) Buyer and Sellers agree that the representations and warranties included in this Section 4.09 shall be 5.11 are the sole and exclusive representations and warranties of Holdco and the Sellers with respect relating to Intellectual Property matters in this Agreementintellectual property matters.
Appears in 2 contracts
Samples: Stock Purchase Agreement (Standex International Corp/De/), Stock Purchase Agreement (Standex International Corp/De/)
Intellectual Property. (a) Schedule 4.09(a1.1(d) sets forth a true accurately lists each item of intellectual property owned by Seller that has been duly registered with, filed in or issued by, as the case may be, the United States Patent and complete list Trademark Office or such other government entities as are indicated on Schedule 1.1(d), and all other material items of intellectual property owned or used by Seller in connection with, or planned for use in connection with, the Business, including without limitation all (i) Registered Intellectual Property included trademarks, service marks, trade names, and trade dress, together with the goodwill of the Business; (ii) copyrights and all related and equivalent rights, including moral rights; (iii) rights in the Owned Intellectual Property, indicating for each item the registration or application number, the registration or application datedesigns, and the applicable filing jurisdiction like; (iv) trade secrets; (v) other intellectual property rights; (vi) technology, patents, patent applications, know-how, processes, computer software, designs, drawings, documentation, and other intellectual property, whether or not secret and whether or not reduced to writing; (vii) applications for, and applications to register, any of the foregoing; (viii) licenses to or under any of the foregoing; and (iiix) Owned Intellectual Property that is not registered but that is material rights or options to the operation obtain any of the Businessforegoing. Sellers exclusively own all, right, title and interest in all Owned Seller has not granted to any Person the right to use any Intellectual Property, free and clear of all Encumbrances (other than Permitted Encumbrances). Sellers are not bound by any outstanding judgment, injunction, order or decree or any contractual obligation materially restricting the use by a Seller of the Owned Intellectual Property, or materially restricting the licensing thereof to any Person. With respect to the Registered Intellectual Property included in the Owned Intellectual Property listed on Schedule 4.09(a), (i) all such Registered Intellectual Property is subsisting and, to Sellers’ Knowledge, valid and enforceable, (ii) a Seller is the owner of record, and (iii) all maintenance fees and filings that are required to be made to maintain such Registered Intellectual Property have been timely made (taking into account any applicable grace periods).
(b) Except as disclosed in Schedule 4.09(b) sets forth2.15(b), with regard to the Business, no claim or litigation has been asserted and Seller has not received notice of any threatened claims or litigation by any person contesting the right of Seller to use, or at the Closing will set forth, a true and complete list validity or enforceability of all the Intellectual Property Licenses. Except as set forth on Schedule 4.09(b), Sellers have provided Buyer with true and complete copies or challenging or questioning the validity or effectiveness of all such Intellectual Property Licenses. All such Intellectual Property Licenses are, to Sellers’ Knowledge, valid, binding and enforceable between any license or agreement pertaining thereto or asserting the applicable Seller and the other parties thereto, and Seller misuse thereof and, to Sellers’ Knowledgethe best knowledge of Seller, such other parties are in compliance with the material terms and conditions use of such Intellectual Property Licensesby Seller does not infringe on the rights of any person or violate any license or other agreement applicable thereto.
(c) To Sellers’ KnowledgeExcept as disclosed in Schedule 2.15(c), with regard to the conduct Business, Seller has not asserted any claim or litigation concerning infringement of the Business as currently conducted does not infringe, misappropriate, dilute or otherwise violateIntellectual Property by third parties, and in the past three (3) years has not infringed, misappropriated or otherwise violated, any Seller knows of no infringement of Intellectual Property rights of any Third Party. Sellers have not received any notice that Sellers’ use of the Transferred Intellectual Property in the conduct of the Business as currently conducted infringes, misappropriates, dilutes or otherwise violates, or in the past three (3) years has infringed, misappropriated or otherwise violated, any Intellectual Property Rights of any Third Party. No Proceedings are pending and no written notices have been received by Sellers during the past three (3) years (or earlier, if presently not resolved), in each case, alleging any infringement, misappropriation or other violation by Sellers of the Intellectual Property rights of any Third Party. Except as set forth in Schedule 4.09(c), to Sellers’ Knowledge, during the past three (3) years (or earlier, if presently not resolved) no Person has infringed, misappropriated, diluted or otherwise violated any of the Owned Intellectual Property or Transferred Technology, and no Seller has made or asserted any claim, demand or notice against any person or entity alleging any such infringement, misappropriation, dilution or other violation. There is no Proceeding pending or, to Sellers’ Knowledge, threatened, challenging a Seller’s ownership of any Owned Intellectual Property, or its right to use any Transferred Intellectual Property, or challenging the validity, registrability, or enforceability of any Registered Intellectual Property included in the Owned Intellectual Propertythird parties.
(d) Sellers represent that they are, Schedule 2.15(d) sets forth each as applicable, material license or other agreement relating to the registrant Intellectual Property. All of record of each domain name as set forth the licenses and other agreements referred to in Schedule 4.09(d2.15(d) are in full force and effect; Seller is not in default thereunder, and to the best knowledge of Seller, no other party thereto is in default thereunder, and no event has occurred which (collectivelywhether with or without notice, lapse of time, or the “Domain Names”happening or occurrence of any other event) would constitute a default thereunder. Except as disclosed in Schedule 2.15(d).
(e) Sellers have taken commercially reasonable measures to protect the confidentiality , continuation, and effectiveness of all Trade Secrets included such licenses and other agreements and the current terms thereof will in the Owned Intellectual Property and no material Trade Secrets have been disclosed way be affected by Sellers to any Person except pursuant to written non-disclosure agreements or other obligations of confidentiality, and, to Sellers’ Knowledge, there has not been a breach of any such agreement or obligation by any such Person.
(f) To Seller’s Knowledge, Sellers have obtained from each Person (including current and former employees and independent contractors) who has created or developed for or on behalf of Sellers any Owned Intellectual Property that is material to the Business a written, present and, valid assignment of such Intellectual Property to a Seller.
(g) To Sellers’ Knowledge, in the past three (3) years, there has been no material unauthorized access to or material unauthorized use of any confidential or proprietary information or data that is both in Sellers’ possession or control and material to the Business.
(h) With respect to any material Software included within the Transferred Intellectual Property, to Sellers’ Knowledge (i) such Software is free from any material bugs, viruses or other malicious code, (ii) the Source Code for such Software has not been disclosed to any Third Party, and (iii) such Software does not contain, derive from or link to any open source Software in a manner that requires the disclosure of any proprietary Source Code, limits the ability to charge fees, or grants any license to any Third Party to make derivative works.
(i) Neither the execution, delivery or performance of this Agreement, nor the consummation of the transactions contemplated by the Ancillary Agreements will result this Agreement, except as provided herein or in the material loss or impairment of any of the Owned Intellectual PropertyRelated Agreements.
(j) All third-party code that is incorporated into the proprietary Software included in the Transferred Intellectual Property and that is critical to the operation of such Software is commercially available (each a “Critical IP License” and collectively “Critical IP Licenses”), and following Closing, Buyer will be able to procure a license for all such third-party code for (i) an aggregate amount during the one-year period immediately following the Closing that shall not exceed the amount reflected for such third-party code in the Unaudited Financial Statements by more than $200,000, and (ii) an aggregate amount during the twelve (12) months period following the initial one-year period immediately following Closing that shall not exceed the amount reflected for such third-party code in the Unaudited Financial Statements by more than $200,000; provided that any increases in license fees resulting from a volume increase, additional licenses or other change in the operation of Business post Closing shall not be breaches of this representation.
(k) Buyer and Sellers agree that the representations and warranties included in this Section 4.09 shall be the sole and exclusive representations and warranties of Sellers with respect to Intellectual Property matters in this Agreement.
Appears in 2 contracts
Samples: Asset Purchase Agreement (Spectrum Organic Products Inc), Asset Purchase Agreement (Spectrum Organic Products Inc)
Intellectual Property. (a) Schedule 4.09(a) sets forth a true and complete list All of all (i) Registered the Fareston Intellectual Property included in the Owned Intellectual Property, indicating for each item the registration or application number, the registration or application date, and the applicable filing jurisdiction and (ii) Owned Intellectual Property that is not registered but that is material to the operation of the Business. Sellers exclusively own all, right, title and interest in all Owned Intellectual Propertysolely owned by Seller, free and clear of all Encumbrances any Encumbrances. The Fareston Intellectual Property is enforceable and valid and freely assignable, and none of the Fareston Intellectual Property has been or is the subject of (other than Permitted Encumbrances). Sellers are not bound by i) any outstanding pending (or, to Seller’s Knowledge, threatened) adverse claim, judgment, injunction, order or order, decree or any contractual obligation materially agreement restricting (A) its use in connection with the use Product within the USA or (B) assignment thereof by a Seller of the Owned Intellectual PropertySeller, or materially restricting the licensing thereof to any Person. With respect to the Registered Intellectual Property included in the Owned Intellectual Property listed on Schedule 4.09(a), (i) all such Registered Intellectual Property is subsisting and, to Sellers’ Knowledge, valid and enforceable, (ii) a Seller is the owner any other pending (or, to Seller’s Knowledge, threatened) litigation or claim of record, and (iii) all maintenance fees and filings that are required to be made to maintain such Registered Intellectual Property have been timely made (taking into account any applicable grace periods)infringement.
(b) Schedule 4.09(b) sets forthOther than the “GTx” name, or at the Closing will set forthProduct Marks include all trademarks, a true service marks, logos, trade names and complete list of all Intellectual Property Licenses. Except as set forth on Schedule 4.09(b), Sellers have provided Buyer with true and complete copies of all such Intellectual Property Licenses. All such Intellectual Property Licenses are, to Sellers’ Knowledge, valid, binding and enforceable between the applicable Seller and the other parties thereto, and Seller and, to Sellers’ Knowledge, such other parties trade dress that are used in compliance connection with the material terms and conditions of such Intellectual Property LicensesProduct and/or any packaging or promotional materials for the Product.
(c) Other than the Fareston Domain Names, there are no other domain name registrations owned by Seller or any of its Affiliates incorporating any of the Product Marks (or any variation thereof) or that are otherwise used or held for use in connection with the Business. To Sellers’ Seller’s Knowledge, no domain names comprised in whole or in part of any of the Product Marks (or any variation thereof) have been registered by a third party.
(d) Neither Seller nor any of its Affiliates owns or holds any license to any patent application or patent relating to the manufacture, use, sale or administration of the Product or that otherwise relates to the Business.
(e) To Seller’s Knowledge, neither the Product, nor the manufacture, use, sale, importation thereof, nor the conduct of the Business as currently conducted does not infringeBusiness, misappropriateinfringes, dilute misappropriates or otherwise violateviolates any patent, trademark, copyright, trade secret or other intellectual property or proprietary right of any Person.
(f) Neither Seller nor any of its Affiliates has granted any license, option or other rights with respect to any of the Fareston Intellectual Property to any other Person.
(g) Except for the GTx and in Orion Amended and Restated License and Supply Agreement and restrictions on certain former prospective purchasers of the past three (3) years has not infringedPurchased Assets under certain confidentiality agreements executed with such prospective purchasers of the Purchased Assets, misappropriated or otherwise violatedneither Seller nor any of its Affiliates, nor to Seller’s Knowledge, any Intellectual Property rights of other Person, is party to any Third Party. Sellers have not received any notice agreement that Sellers’ limits or restricts use of the Transferred Fareston Intellectual Property in the conduct or requires any payments for its use.
(h) Neither Seller nor any of the Business as currently conducted infringesits Affiliates has at any time received notice of (and, misappropriatesto Seller’s Knowledge, dilutes or otherwise violates, or in the past three (3there is no) years has infringed, misappropriated or otherwise violated, any Intellectual Property Rights of any Third Party. No Proceedings are pending and no written notices have been received by Sellers during the past three (3) years (or earlier, if presently not resolved), in each case, alleging any infringement, misappropriation or other violation by Sellers of the Intellectual Property rights of any Third Party. Except as set forth in Schedule 4.09(c), to Sellers’ Knowledge, during the past three (3) years (or earlier, if presently not resolved) no Person has infringed, misappropriated, diluted or otherwise violated Party of any of the Owned Intellectual Property or Transferred Technology, and no Seller has made or asserted any claim, demand or notice against any person or entity alleging any such infringement, misappropriation, dilution or other violation. There is no Proceeding pending or, to Sellers’ Knowledge, threatened, challenging a Seller’s ownership of any Owned Fareston Intellectual Property. [ * ] = Certain confidential information contained in this document, or its right marked by brackets, has been omitted and filed separately with the Securities and Exchange Commission pursuant to use any Transferred Intellectual PropertyRule 24b-2 of the Securities Exchange Act of 1934, or challenging the validity, registrability, or enforceability of any Registered Intellectual Property included in the Owned Intellectual Propertyas amended.
(di) Sellers represent that they areSeller and its Affiliates have paid in full all registration, each as applicableapplication, filing, recordation and maintenance fees related to the registrant of record of each domain name as set forth in Schedule 4.09(d) (collectively, Fareston Intellectual Property due and payable prior to the “Domain Names”)Effective Date.
(ej) Sellers Seller and its Affiliates have taken commercially reasonable measures to protect the confidentiality proprietary nature of each item of the Fareston Intellectual Property as well as the value of all Trade Secrets trade secrets and confidential information included in the Owned Intellectual Property and no material Trade Secrets have been disclosed by Sellers to any Person except pursuant to written non-disclosure agreements or other obligations of confidentiality, and, to Sellers’ Knowledge, there has not been a breach of any such agreement or obligation by any such Person.
(f) To Purchased Assets consistent with Seller’s Knowledge, Sellers have obtained from each Person (including current and former employees and independent contractors) who has created or developed for or on behalf of Sellers any Owned Intellectual Property that is material to the Business a written, present and, valid assignment of such Intellectual Property to a Seller.
(g) To Sellers’ Knowledge, in the past three (3) years, there has been no material unauthorized access to or material unauthorized use of any confidential or proprietary information or data that is both in Sellers’ possession or control and material to the Business.
(h) With respect to any material Software included within the Transferred Intellectual Property, to Sellers’ Knowledge (i) such Software is free from any material bugs, viruses or other malicious code, (ii) the Source Code for such Software has not been disclosed to any Third Party, and (iii) such Software does not contain, derive from or link to any open source Software in a manner that requires the disclosure of any proprietary Source Code, limits the ability to charge fees, or grants any license to any Third Party to make derivative works.
(i) Neither the execution, delivery or performance of this Agreement, nor the consummation of the transactions contemplated by the Ancillary Agreements will result in the material loss or impairment of any of the Owned Intellectual Property.
(j) All third-party code that is incorporated into the proprietary Software included in the Transferred Intellectual Property and that is critical to the operation of such Software is commercially available (each a “Critical IP License” and collectively “Critical IP Licenses”), and following Closing, Buyer will be able to procure a license for all such third-party code for (i) an aggregate amount during the one-year period immediately following the Closing that shall not exceed the amount reflected for such third-party code in the Unaudited Financial Statements by more than $200,000, and (ii) an aggregate amount during the twelve (12) months period following the initial one-year period immediately following Closing that shall not exceed the amount reflected for such third-party code in the Unaudited Financial Statements by more than $200,000; provided that any increases in license fees resulting from a volume increase, additional licenses or other change in the operation of Business post Closing shall not be breaches of this representation.
(k) Buyer and Sellers agree that the representations and warranties included in this Section 4.09 shall be the sole and exclusive representations and warranties of Sellers practices with respect to Intellectual Property matters in this Agreementother products of a similar value.
Appears in 2 contracts
Samples: Asset Purchase Agreement, Asset Purchase Agreement (GTX Inc /De/)
Intellectual Property. (a) Schedule 4.09(aSection 4.10(a) of the Company Disclosure Letter sets forth a true and complete list of all (i) material Registered Intellectual Property included in the Owned Intellectual Property, indicating for each item the registration or application number, the registration or application date, and the applicable filing jurisdiction and (ii) material Licensed Intellectual Property or license agreements relating thereto (other than computer software that is readily commercially available for $10,000 or less). To the Company’s Knowledge, except as set forth in Section 4.10(a) of the Company Disclosure Letter, all Owned Intellectual Property that is not registered but that is material to the operation of the Business. Sellers exclusively own allvalid, right, title subsisting and interest in all Owned Intellectual Property, free enforceable and clear of all Encumbrances (other than Permitted Encumbrances). Sellers are not bound by any outstanding judgment, injunction, order or decree or any contractual obligation materially restricting the use by a Seller of the Owned Intellectual Property, or materially restricting the licensing thereof to any Person. With respect to the Registered Intellectual Property included in the no Owned Intellectual Property listed on Schedule 4.09(ahas been abandoned or cancelled (excepting any expirations in the ordinary course), (i) all such Registered Intellectual Property or is subsisting andsubject to any outstanding order, to Sellersjudgment or decree restricting its use or adversely affecting the Company’s or its Subsidiaries’ Knowledge, valid and enforceable, (ii) a Seller is the owner of record, and (iii) all maintenance fees and filings that are required to be made to maintain such Registered Intellectual Property have been timely made (taking into account any applicable grace periods)rights thereto.
(b) Schedule 4.09(b) sets forth, The Company and its Subsidiaries own or at have the Closing will set forth, a true right to use all material Intellectual Property used in the business of the Company and complete list of its Subsidiaries. The Owned Intellectual Property and Licensed Intellectual Property constitute all Intellectual Property Licenses. Except as set forth on Schedule 4.09(b), Sellers have provided Buyer with true and complete copies of all such Intellectual Property Licenses. All such Intellectual Property Licenses are, necessary to Sellers’ Knowledge, valid, binding and enforceable between operate the applicable Seller and the other parties thereto, and Seller and, to Sellers’ Knowledge, such other parties are in compliance with the material terms and conditions of such Intellectual Property Licenses.
(c) To Sellers’ Knowledge, the conduct business of the Business Company as currently conducted does not infringe, misappropriate, dilute or otherwise violate, and in the past three (3) years has not infringed, misappropriated or otherwise violated, any Intellectual Property rights of any Third Party. Sellers have not received any notice that Sellers’ use of the Transferred Intellectual Property in the conduct of the Business as currently conducted infringes, misappropriates, dilutes or otherwise violates, or in the past three (3) years has infringed, misappropriated or otherwise violated, any Intellectual Property Rights of any Third Party. No Proceedings are pending and no written notices have been received by Sellers during the past three (3) years (or earlier, if presently not resolved), in each case, alleging any infringement, misappropriation or other violation by Sellers of the Intellectual Property rights of any Third Partyconducted. Except as set forth in Schedule 4.09(c)Section 4.10(b) of the Company Disclosure Letter, to Sellers’ Knowledge, during the past three (3) years (or earlier, if presently not resolved) no Person other than the Company has infringed, misappropriated, diluted or otherwise violated any of the Owned Intellectual Property or Transferred Technology, and no Seller has made or asserted any claim, demand or notice against any person or entity alleging any such infringement, misappropriation, dilution or other violation. There is no Proceeding pending or, to Sellers’ Knowledge, threatened, challenging a Seller’s ownership of any Owned Intellectual Propertyinterest in, or its a right to use any Transferred Intellectual Propertyreceive a royalty or similar payment with respect to, or challenging the validity, registrability, or enforceability of any Registered Intellectual Property included in the Owned Intellectual Property.
(d) Sellers represent that they are, each as applicable, the registrant of record of each domain name as set forth in Schedule 4.09(d) (collectively, the “Domain Names”).
(e) Sellers have taken commercially reasonable measures to protect the confidentiality of all Trade Secrets included in the Owned Intellectual Property and no material Trade Secrets have been disclosed by Sellers to any Person except pursuant to written non-disclosure agreements or other obligations of confidentiality, and, to Sellers’ Knowledge, there has not been a breach of any such agreement or obligation by any such Person.
(f) To Seller’s Knowledge, Sellers have obtained from each Person (including current and former employees and independent contractors) who has created or developed for or on behalf of Sellers any Owned Intellectual Property that is material to the Business a written, present and, valid assignment of such Intellectual Property to a Seller.
(g) To Sellers’ Knowledge, in the past three (3) years, there has been no material unauthorized access to or material unauthorized use of any confidential or proprietary information or data that is both in Sellers’ possession or control and material to the Business.
(h) With respect to any material Software included within the Transferred Intellectual Property, to Sellers’ Knowledge (i) such Software is free from any material bugs, viruses or other malicious code, (ii) the Source Code for such Software has not been disclosed to any Third Party, and (iii) such Software does not contain, derive from or link to any open source Software in a manner that requires the disclosure of any proprietary Source Code, limits the ability to charge fees, or grants any license to any Third Party to make derivative works.
(i) Neither the execution, delivery or performance of this Agreement, nor the consummation of the transactions contemplated by the Ancillary Agreements will result in the material loss or impairment of any of the Owned Intellectual Property.
(jc) All third-party code Except as set forth in Section 4.10(c) of the Company Disclosure Letter, no suit, action, reissue, reexamination, public protest, interference, arbitration, mediation, opposition, cancellation or other proceeding is pending alleging that is incorporated into the proprietary Software included in the Transferred Company or any of its Subsidiaries has violated any Intellectual Property rights of any Person, and that is critical to the operation Company’s Knowledge, no claim has been threatened or asserted against the Company or any of such Software is commercially available (each its Subsidiaries alleging a “Critical IP License” violation of any Intellectual Property rights of any Person. To the Company’s Knowledge, the Company and collectively “Critical IP Licenses”)its Subsidiaries have not infringed, and following Closing, Buyer will be able to procure a license for all such third-party code for (i) an aggregate amount during the one-year period immediately following the Closing that shall not exceed the amount reflected for such third-party code in the Unaudited Financial Statements by more than $200,000, and (ii) an aggregate amount during the twelve (12) months period following the initial one-year period immediately following Closing that shall not exceed the amount reflected for such third-party code in the Unaudited Financial Statements by more than $200,000; provided that misappropriated or otherwise violated any increases in license fees resulting from a volume increase, additional licenses or other change in the operation of Business post Closing shall not be breaches of this representationIntellectual Property rights.
(kd) Buyer The Company and Sellers agree the Subsidiaries are in compliance with, and have conducted their business so as to comply with, all material terms of all agreements for Licensed Intellectual Property.
(e) Except as set forth in Section 4.10(e) of the Company Disclosure Letter, the Company has no Knowledge that any Person is violating any Owned Intellectual Property. Except as set forth in Section 4.10(e) of the representations Company Disclosure Letter, no Suit is pending concerning the Owned Intellectual Property, and warranties included to the Company’s Knowledge no such Suit has been threatened or asserted within the last two years.
(f) The Company and its Subsidiaries have taken all commercially reasonable measures to protect the secrecy, confidentiality and value of all Trade Secrets used in this Section 4.09 shall be their businesses. To the sole and exclusive representations and warranties Company’s Knowledge, none of Sellers with respect the Company Trade Secrets have been disclosed to Intellectual Property matters in this Agreementany Person unless such Person executed confidentiality agreements prohibiting the unauthorized use or disclosure of such Company Trade Secrets.
Appears in 2 contracts
Samples: Merger Agreement (Magellan Holdings, Inc.), Merger Agreement (Ssa Global Technologies, Inc)
Intellectual Property. (a) Schedule 4.09(aSection 2.24(a) of the Disclosure Schedules sets forth a true and complete list of all registered or material Intellectual Property used in Seller’s conduct of the Business, separated by (i) Registered Intellectual Property included in the Owned Intellectual Propertythat is owned by Seller, indicating for each item the registration or application number, the registration or application date, and the applicable filing jurisdiction and (ii) Owned Intellectual Property that is not registered but that licensed to Seller and used in the Business, including where the Intellectual Property is material incorporated into personal property, such as laboratory or clinical equipment, and used pursuant to a license, whether written or other (collectively, “License Agreement(s)”), setting forth the operation details of the Business. Sellers exclusively own allLicense.
(b) Except as set forth in Section 2.24(b) of the Disclosure Schedules, right, title and interest Seller owns or has valid licenses to use (which licenses are set forth in Section 2.24(a) of the Disclosure Schedules or that need not be listed based on the exclusion set forth in Section 2.24(a)) all Owned material Intellectual Property used in the conduct of the Business (the “Business Intellectual Property”), free and clear of all Encumbrances (other than Permitted Encumbrances). Sellers are not bound by any outstanding judgmentTo Seller’s Knowledge, injunction, order or decree or any contractual obligation materially restricting the use by a neither Xxxxxx’s nor Seller Parent’s conduct of the Owned Business infringes on the Intellectual Property, or materially restricting the licensing thereof to Property of any Person. With respect to the Registered Intellectual Property included in the Owned Intellectual Property listed on Schedule 4.09(a), (i) all such Registered Intellectual Property is subsisting and, to Sellers’ Knowledge, valid and enforceable, (ii) a Seller is the owner of record, and (iii) all maintenance fees and filings that are required to be made to maintain such Registered Intellectual Property have been timely made (taking into account any applicable grace periods).
(b) Schedule 4.09(b) sets forth, or at the Closing will set forth, a true and complete list of all Intellectual Property Licenses. Except as set forth on Schedule 4.09(b), Sellers have provided Buyer with true and complete copies of all such Intellectual Property Licenses. All such Intellectual Property Licenses are, to Sellers’ Knowledge, valid, binding and enforceable between the applicable Seller and the other parties thereto, and Seller and, to Sellers’ Knowledge, such other parties are in compliance with the material terms and conditions of such Intellectual Property Licenses.
(c) Except as set forth in Section 2.24(c) of the Disclosure Schedules, neither Seller nor Seller Parent pays or receives any sales-related (either on revenue or a per-unit basis) royalty to or from anyone with respect to any Business Intellectual Property, nor has the Business licensed or sublicensed anyone to use any Business Intellectual Property for use in a business that may reasonably be considered competitive to the Business.
(d) The Business Intellectual Property constitutes, and the Purchased Assets (along with the rights granted under the License Agreement and rights to Intellectual Property incorporated into personal property excluded from the scheduling obligations of Section 2.24(a) of the Disclosure Schedules pursuant to Section 2.24(a)) include all of the Intellectual Property necessary or material to conduct the Business. To Sellers’ Seller’s Knowledge, the conduct none of the Business as currently conducted does not infringe, misappropriate, dilute or otherwise violate, and in the past three (3) years has not infringed, misappropriated or otherwise violated, any Intellectual Property rights of is owned by any Third Party. Sellers have not received any notice that Sellers’ use of the Transferred Intellectual Property in the conduct other Person without a valid and enforceable right of the Business to use and possess such Business Intellectual Property. None of the Business Intellectual Property is subject to any Encumbrance, other than Permitted Encumbrances. All Business Intellectual Property permits the Business to operate in accordance with applicable Laws.
(e) Except as currently conducted infringesset forth in Section 2.24(e) of the Disclosure Schedules, misappropriatesall rights of the Business in and to the material Business Intellectual Property will be unaffected by the transactions contemplated by the Ancillary Agreements, dilutes or otherwise violatesand through the Purchased Assets, Buyer will have rights from and after the Closing in all material respects similar to the rights exercised by Seller with respect to the Business prior to Closing.
(f) Except as set forth in Section 2.24(f) of the Disclosure Schedules, neither Seller nor Seller Parent has given nor received any written notice of any pending conflict with, or in infringement of the past three (3) years rights of others with respect to any Business Intellectual Property, and to the Knowledge of Seller, no Person has infringed, misappropriated or otherwise violated, and no Person is currently infringing, misappropriating or otherwise violating, any Business Intellectual Property.
(g) All trade secrets, confidential information or know-how owned by or purported to be owned by the Business and exclusively used in the Business have been maintained in confidence in accordance with protection procedures substantially similar to those customarily used by comparable companies in the same industry as the Business to protect rights of like importance. All of Seller’s or Seller Parent’s employees or consultants who have contributed to or participated in the conception or development of any material Business Intellectual Property Rights or material Intellectual Property exclusively used in the Business that are purported to be owned by the Business have executed and delivered to the Business an agreement assigning all proprietary rights to the Business and restricting such Person’s rights to use or disclose such proprietary information.
(h) Seller has provided to Buyer copies of any Third Party. No Proceedings are pending and no written notices have been received all standard form agreements used by Sellers during the past Business in the last three (3) years (that contain assignments or earlier, if presently not resolved), in each case, alleging any infringement, misappropriation or other violation by Sellers licenses of the Intellectual Property rights of any Third Party. Except as set forth in Schedule 4.09(c), to Sellers’ Knowledge, during the past three (3) years (or earlier, if presently not resolved) no Person has infringed, misappropriated, diluted or otherwise violated any of the Owned Intellectual Property or Transferred Technology, and no Seller has made or asserted any claim, demand or notice against any person or entity alleging any such infringement, misappropriation, dilution or other violation. There is no Proceeding pending or, otherwise relate to Sellers’ Knowledge, threatened, challenging a Seller’s ownership of any Owned Intellectual Property, or its right to use any Transferred Intellectual Property, or challenging the validity, registrability, or enforceability of any Registered Intellectual Property included in the Owned Business Intellectual Property.
(di) Sellers represent that they are, each as applicable, Section 2.24(i) of the registrant Disclosure Schedules lists all open source computer code contained or used in any product or service of record of each domain name as set forth in Schedule 4.09(d) (collectively, the “Domain Names”).
(e) Sellers have taken commercially reasonable measures to protect the confidentiality of all Trade Secrets included in the Owned Intellectual Property and no material Trade Secrets have been disclosed by Sellers to any Person except pursuant to written non-disclosure agreements or other obligations of confidentiality, and, to Sellers’ Knowledge, there has not been a breach of any such agreement or obligation by any such Person.
(f) To Seller’s Knowledge, Sellers have obtained from each Person (including current and former employees and independent contractors) who has created or developed for or on behalf of Sellers any Owned Intellectual Property that is material to the Business a written, present and, valid assignment of such Intellectual Property to a Seller.
(g) To Sellers’ Knowledge, in the past three (3) years, there has been no material unauthorized access to or material unauthorized use of any confidential or proprietary information or data that is both in Sellers’ possession or control and material to the Business.
(h) With respect to any material Software included within the Transferred Intellectual Property, to Sellers’ Knowledge describes (i) such Software is free from any material bugs, viruses or other malicious codethe applicable software name and version number, (ii) the Source Code for such Software has not been disclosed to any Third Partylicensor, and (iii) the license under which such Software does not containcode was obtained, derive from (iv) whether such code was modified by or link for the Business and (v) whether such code was distributed by or for the Business. No product or service of the Business is subject to any open Contract that would require Seller to divulge to any Person any source Software in a manner code owned or purported to be owned by the Business that requires the disclosure is part of any proprietary Source Code, limits the ability to charge fees, product or grants any license to any Third Party to make derivative works.
(i) Neither the execution, delivery or performance of this Agreement, nor the consummation service of the transactions contemplated by the Ancillary Agreements will result in the material loss or impairment of any of the Owned Intellectual PropertyBusiness.
(j) All third-party code that is incorporated into the proprietary Software included in the Transferred Intellectual Property and that is critical to the operation of such Software is commercially available (each a “Critical IP License” and collectively “Critical IP Licenses”), and following Closing, Buyer will be able to procure a license for all such third-party code for (i) an aggregate amount during the one-year period immediately following the Closing that shall not exceed the amount reflected for such third-party code in the Unaudited Financial Statements by more than $200,000, and (ii) an aggregate amount during the twelve (12) months period following the initial one-year period immediately following Closing that shall not exceed the amount reflected for such third-party code in the Unaudited Financial Statements by more than $200,000; provided that any increases in license fees resulting from a volume increase, additional licenses or other change in the operation of Business post Closing shall not be breaches of this representation.
(k) Buyer and Sellers agree that the representations and warranties included in this Section 4.09 shall be the sole and exclusive representations and warranties of Sellers with respect to Intellectual Property matters in this Agreement.
Appears in 2 contracts
Samples: Asset Purchase Agreement (Opko Health, Inc.), Asset Purchase Agreement (Opko Health, Inc.)
Intellectual Property. (a) Schedule 4.09(a) sets forth a true and complete list of all (i) Registered Except as disclosed or reflected in the Adamis SEC Reports, Axxxxx owns or possesses the right to use the Intellectual Property utilized in connection with the conduct of its business and intended business, all of which is owned by or licensed to Adamis (the “Adamis Patent and Proprietary Rights”), except where the failure to own or possess such rights would not have a Material Adverse Effect on Adamis. Such Axxxxx Patent and Proprietary Rights are sufficient in all material respects for the conduct of Axxxxx’ business and proposed business. Axxxxx has taken all reasonable measures to protect and maintain the confidentiality of the trade secrets included in the Owned Intellectual Property, indicating for each item the registration or application number, the registration or application date, Adamis Patent and the applicable filing jurisdiction and (ii) Owned Intellectual Property that is not registered but that is material to the operation of the Business. Sellers exclusively own all, right, title and interest in all Owned Intellectual Property, free and clear of all Encumbrances (other than Permitted Encumbrances). Sellers are not bound by any outstanding judgment, injunction, order or decree or any contractual obligation materially restricting the use by a Seller of the Owned Intellectual Property, or materially restricting the licensing thereof to any Person. With respect to the Registered Intellectual Property included in the Owned Intellectual Property listed on Schedule 4.09(a), (i) all such Registered Intellectual Property is subsisting and, to Sellers’ Knowledge, valid and enforceable, (ii) a Seller is the owner of record, and (iii) all maintenance fees and filings that are required to be made to maintain such Registered Intellectual Property have been timely made (taking into account any applicable grace periods)Proprietary Rights.
(b) Schedule 4.09(b) sets forthSince January 1, 2021, except as described or at reflected in the Closing will Adamis SEC Reports or as set forthforth in the Adamis Disclosure Schedule, Axxxxx has not received any notice of any asserted rights with respect to any of Adamis Patent and Proprietary Rights which, if determined unfavorably with respect to the interests of Axxxxx, would have a true and complete list of all Intellectual Property LicensesMaterial Adverse Effect on Adamis. Except as set forth on Schedule 4.09(b)described or reflected in the SEC Reports, Sellers have provided Buyer with true and complete copies of all such Intellectual Property Licenses. All such Intellectual Property Licenses are, to Sellers’ Knowledge, valid, binding and enforceable between the applicable Seller and the other parties theretoAxxxxx is not bound by, and Seller andno Adamis Patent and Proprietary Rights are subject to, any Contract containing any covenant or other provision that in any material respect limits or restricts the ability of Axxxxx to Sellers’ Knowledgeuse, such other parties are in compliance with the material terms exploit, assert, defend, or enforce any Adamis Patent and conditions of such Intellectual Property LicensesProprietary Rights.
(c) To SellersAdamis’ Knowledge, the conduct of the Business as currently conducted does not infringeAxxxxx has never infringed (directly, misappropriatecontributorily, dilute or otherwise violate, and in the past three (3) years has not infringed, misappropriated or otherwise violated, any Intellectual Property rights of any Third Party. Sellers have not received any notice that Sellers’ use of the Transferred Intellectual Property in the conduct of the Business as currently conducted infringes, misappropriates, dilutes or otherwise violatesby inducement, or in the past three (3) years has infringed, misappropriated or otherwise violated, any Intellectual Property Rights of any Third Party. No Proceedings are pending and no written notices have been received by Sellers during the past three (3) years (or earlier, if presently not resolvedotherwise), in each case, alleging any infringement, misappropriation or other violation by Sellers of the Intellectual Property rights of any Third Party. Except as set forth in Schedule 4.09(c), to Sellers’ Knowledge, during the past three (3) years (or earlier, if presently not resolved) no Person has infringed, misappropriated, diluted or otherwise violated or made unlawful use of any of the Owned right to Intellectual Property of any other Person or Transferred Technologyengaged in unfair competition, and no Seller has made or asserted any claim, demand or notice against any person or entity alleging any such which infringement, misappropriation, dilution violation or other violationuse (if the subject of any unfavorable decision, ruling or finding), individually or in the aggregate, would result in a Material Adverse Effect on Adamis. There No material infringement, misappropriation, or similar claim or Legal Proceeding is no Proceeding pending or, to SellersAdamis’ Knowledge, threatenedthreatened against Axxxxx or any other Person who is or may be entitled to be indemnified, challenging a Seller’s ownership defended, held harmless, or reimbursed by Axxxxx with respect to such claim or Legal Proceeding, which claim or Legal Proceeding (if the subject of any Owned Intellectual Propertyunfavorable decision, ruling or its right to use any Transferred Intellectual Propertyfinding), individually or challenging the validity, registrability, or enforceability of any Registered Intellectual Property included in the Owned Intellectual Propertyaggregate, would result in a Material Adverse Effect on Axxxxx.
(d) Sellers represent that they are, each as applicable, the registrant of record of each domain name as set forth in Schedule 4.09(d) (collectively, the “Domain Names”).
(e) Sellers have taken commercially reasonable measures to protect the confidentiality of all Trade Secrets included in the Owned Intellectual Property and no material Trade Secrets have been disclosed by Sellers to any Person except pursuant to written non-disclosure agreements or other obligations of confidentiality, and, to SellersTo Axxxxx’ Knowledge, there Axxxxx has not been a breach of engaged in patent or copyright misuse or any such agreement fraud or obligation inequitable conduct in connection with any Adamis Patent and Proprietary Rights, and no trademark or trade name owned, used, or applied for by Adamis conflicts or interferes in any material respect with any trademark or trade name owned, used, or applied for by any such other Person.
(f) To Seller’s Knowledge, Sellers have obtained from each Person (including current and former employees and independent contractors) who has created or developed for or on behalf of Sellers any Owned Intellectual Property that is material to the Business a written, present and, valid assignment of such Intellectual Property to a Seller.
(g) To Sellers’ Knowledge, in the past three (3) years, there has been no material unauthorized access to or material unauthorized use of any confidential or proprietary information or data that is both in Sellers’ possession or control and material to the Business.
(h) With respect to any material Software included within the Transferred Intellectual Property, to Sellers’ Knowledge (i) such Software is free from any material bugs, viruses or other malicious code, (ii) the Source Code for such Software has not been disclosed to any Third Party, and (iii) such Software does not contain, derive from or link to any open source Software in a manner that requires the disclosure of any proprietary Source Code, limits the ability to charge fees, or grants any license to any Third Party to make derivative works.
(i) Neither the execution, delivery or performance of this Agreement, nor the consummation of the transactions contemplated by the Ancillary Agreements will result in the material loss or impairment of any of the Owned Intellectual Property.
(j) All third-party code that is incorporated into the proprietary Software included in the Transferred Intellectual Property and that is critical to the operation of such Software is commercially available (each a “Critical IP License” and collectively “Critical IP Licenses”), and following Closing, Buyer will be able to procure a license for all such third-party code for (i) an aggregate amount during the one-year period immediately following the Closing that shall not exceed the amount reflected for such third-party code in the Unaudited Financial Statements by more than $200,000, and (ii) an aggregate amount during the twelve (12) months period following the initial one-year period immediately following Closing that shall not exceed the amount reflected for such third-party code in the Unaudited Financial Statements by more than $200,000; provided that any increases in license fees resulting from a volume increase, additional licenses or other change in the operation of Business post Closing shall not be breaches of this representation.
(k) Buyer and Sellers agree that the representations and warranties included in this Section 4.09 shall be the sole and exclusive representations and warranties of Sellers with respect to Intellectual Property matters in this Agreement.
Appears in 2 contracts
Samples: Agreement and Plan of Merger and Reorganization (Adamis Pharmaceuticals Corp), Agreement and Plan of Merger and Reorganization (Adamis Pharmaceuticals Corp)
Intellectual Property. (a) Schedule 4.09(aSection 4.14(a) of the Danube Disclosure Letter sets forth a true and complete list of all material Registered Danube IP, including the title, application or registration/issuance number, jurisdiction of application of registration, date of filing and date of registration or issuance (i) as applicable), and owner of record (and, if different, beneficial owner). Each item of material Registered Intellectual Property included in Danube IP is subsisting and, to the Owned Intellectual Propertyknowledge of Danube, indicating for each item of Registered Danube IP that is registered or issued is valid and enforceable. No Proceeding is pending or, to the knowledge of Danube, threatened, challenging the validity, enforceability, ownership, registration or application number, scope of any material Registered Danube IP (other than office actions in connection with the registration prosecution of applications for such material Registered Danube IP). Danube or application date, a Danube Subsidiary is the sole and the applicable filing jurisdiction and (ii) exclusive owner of all material Danube Owned Intellectual Property that is not registered but that is material to the operation of the Business. Sellers exclusively own all, right, title and interest in all Owned Intellectual PropertyIP, free and clear of all Encumbrances Liens (other than Danube Permitted EncumbrancesLiens). Sellers are The execution and delivery by Danube of this Agreement, the consummation of the Transactions, and compliance with the provisions hereof, will not bound by result in the loss, limitation, termination or impairment of any outstanding judgment, injunction, order or decree rights of Danube or any contractual obligation materially restricting the use by a Seller of the Owned Danube Subsidiary in any material Intellectual Property, or materially restricting the licensing thereof to any Person. With respect to the Registered Intellectual Property included in the Owned Intellectual Property listed on Schedule 4.09(a), (i) all such Registered Intellectual Property is subsisting and, to Sellers’ Knowledge, valid and enforceable, (ii) a Seller is the owner of record, and (iii) all maintenance fees and filings that are required to be made to maintain such Registered Intellectual Property have been timely made (taking into account any applicable grace periods).
(b) Schedule 4.09(b) sets forth, or at the Closing will set forth, a true and complete list of all Intellectual Property Licenses. Except as set forth on Schedule 4.09(b), Sellers have provided Buyer with true and complete copies of all such Intellectual Property Licenses. All such Intellectual Property Licenses are, to Sellers’ Knowledge, valid, binding and enforceable between the applicable Seller and the other parties thereto, and Seller and, to Sellers’ Knowledge, such other parties are in compliance with the material terms and conditions of such Intellectual Property Licenses.
(c) To Sellers’ Knowledge, the conduct of the Business as currently conducted does not infringe, misappropriate, dilute or otherwise violate, and in the past three (3) years has not infringed, misappropriated or otherwise violated, Neither Danube nor any Intellectual Property rights of any Third Party. Sellers have not received any notice that Sellers’ use of the Transferred Intellectual Property in the conduct of the Business as currently conducted infringes, misappropriates, dilutes or otherwise violates, or in the past three (3) years Danube Subsidiary has infringed, misappropriated or otherwise violated, violated any Intellectual Property Rights of any Third Party. No Proceedings are pending and no written notices have been received by Sellers Person during the past three (3) years (or earlierin any material respect. No Proceedings are pending or, if presently not resolved)to the knowledge of Danube, in each casethreatened, alleging that Danube or any infringementDanube Subsidiary has infringed, misappropriation misappropriated, diluted, or other violation by Sellers of otherwise violated the Intellectual Property rights of any Third Partyother Person in any material respect. Except as set forth in Schedule 4.09(c)In the past three (3) years, neither Danube nor any Danube Subsidiary has received written notice of any such claim, or a written invitation or request to Sellers’ Knowledgeobtain a license under any Intellectual Property of any other Person. To the knowledge of Danube, during the past three (3) years (or earlieryears, if presently not resolved) no Person has infringed, misappropriated, diluted diluted, or otherwise violated any Danube Owned IP in any material respect, or has breached any confidentiality obligations with respect to any material trade secret or other material confidential information of Danube or any Danube Subsidiary.
(c) Danube and the Danube Subsidiaries have taken commercially reasonable steps to maintain the confidentiality of their material trade secrets and other material confidential information. Danube and the Danube Subsidiaries have not disclosed any material trade secrets or other material confidential information owned or held by them to any Person, other than to Persons who are subject to a contractual, legal, or ethical obligation to maintain the confidentiality thereof and, to the knowledge of Danube, no such obligation has been breached during the past three (3) years. All past and present Danube Service Providers who have participated in the development of material Intellectual Property purported to be owned by Danube or any of the Owned Intellectual Property Danube Subsidiaries have assigned to Danube or Transferred Technologya Danube Subsidiary all of such Person’s right, title and no Seller has made or asserted any claim, demand or notice against any person or entity alleging any interest in and to such infringement, misappropriation, dilution or other violation. There is no Proceeding pending or, to Sellers’ Knowledge, threatened, challenging a Seller’s ownership of any Owned Intellectual Property, or its right except to use any Transferred Intellectual Property, or challenging the validity, registrability, or enforceability extent that ownership of any Registered such Intellectual Property included vests in the Owned Intellectual PropertyDanube or a Danube Subsidiary by operation of Law.
(d) Sellers represent that they areThe Danube IT Systems (i) operate in all material respects in accordance with their documentation and functional specifications, each (ii) have not materially malfunctioned or failed in the past three (3) years, and (iii) are adequate and sufficient in all material respects for the operation of the respective businesses of Danube and the Danube Subsidiaries as applicable, currently conducted. Danube and the registrant of record of each domain name as set forth in Schedule 4.09(d) (collectively, the “Domain Names”).
(e) Sellers Danube Subsidiaries have taken commercially reasonable measures consistent with industry practice to protect the confidentiality integrity, continuous operation, and security of all Trade Secrets included Danube IT Systems and data used in connection with its business against unauthorized use, access, interruption, modification and corruption. To the Owned Intellectual Property and no material Trade Secrets have been disclosed by Sellers to any Person except pursuant to written non-disclosure agreements or other obligations knowledge of confidentiality, and, to Sellers’ Knowledge, there has not been a breach of any such agreement or obligation by any such Person.
(f) To Seller’s Knowledge, Sellers have obtained from each Person (including current and former employees and independent contractors) who has created or developed for or on behalf of Sellers any Owned Intellectual Property that is material to the Business a written, present and, valid assignment of such Intellectual Property to a Seller.
(g) To Sellers’ KnowledgeDanube, in the past three (3) years, there has been no material unauthorized access to Danube IT Systems owned or material controlled by Danube or a Danube Subsidiary that has resulted in any unauthorized use use, access, modification, misappropriation, deletion, corruption, loss or encryption of any confidential or proprietary material information or data that is both in Sellers’ possession stored therein or control processed thereby. Danube and material to the Business.
(h) With respect to any material Software included within the Transferred Intellectual PropertyDanube Subsidiaries have implemented commercially reasonable data backup, to Sellers’ Knowledge (i) such Software is free from any material bugsdata storage, viruses or other malicious codesystem redundancy, (ii) the Source Code for such Software has not been disclosed to any Third Partybusiness continuity, and (iii) such Software does not contain, derive from or link to any open source Software in a manner that requires the disclosure of any proprietary Source Code, limits the ability to charge fees, or grants any license to any Third Party to make derivative works.
(i) Neither the execution, delivery or performance of this Agreement, nor the consummation of the transactions contemplated by the Ancillary Agreements will result in the material loss or impairment of any of the Owned Intellectual Property.
(j) All third-party code that is incorporated into the proprietary Software included in the Transferred Intellectual Property disaster avoidance and that is critical to the operation of such Software is commercially available (each a “Critical IP License” and collectively “Critical IP Licenses”), and following Closing, Buyer will be able to procure a license for all such third-party code for (i) an aggregate amount during the one-year period immediately following the Closing that shall not exceed the amount reflected for such third-party code in the Unaudited Financial Statements by more than $200,000, and (ii) an aggregate amount during the twelve (12) months period following the initial one-year period immediately following Closing that shall not exceed the amount reflected for such third-party code in the Unaudited Financial Statements by more than $200,000; provided that any increases in license fees resulting from a volume increase, additional licenses or other change in the operation of Business post Closing shall not be breaches of this representation.
(k) Buyer and Sellers agree that the representations and warranties included in this Section 4.09 shall be the sole and exclusive representations and warranties of Sellers recovery procedures with respect to Intellectual Property matters Danube IT Systems, in this Agreementeach case consistent with industry practice and, to the knowledge of Danube, materially in compliance with all applicable contractual obligations.
Appears in 2 contracts
Samples: Business Combination Agreement (Bungeltd), Business Combination Agreement (Bungeltd)
Intellectual Property. (a) Schedule 4.09(a5.10(a) sets forth contains a true true, correct and complete list as of the date hereof (specifying the owner thereof, and, if applicable, the patent, registration or application number and issuance, registration or filing date) of all registered Copyrights, Patent Rights and Trademarks owned by either of the Companies, or by Seller or any of its Subsidiaries and used primarily in the conduct of the Business, as currently conducted.
(b) Schedule 5.10(b) contains a true, correct and complete list as of the date hereof of all Software owned or licensed by either of the Companies, or to the extent primarily used in the Business, by Seller or any of its other Subsidiaries or is otherwise not readily commercially available.
(c) Other than with respect to Intellectual Property owned by Seller or any of its Subsidiaries (other than the Companies) that will be utilized in connection with the provision of the services under the Transition Services Agreement, the Companies either: (i) Registered Intellectual Property included in own the Owned Intellectual Property, indicating for each item the registration or application number, the registration or application date, and the applicable filing jurisdiction and (ii) Owned Intellectual Property that is not registered but that is material to the operation of the Business. Sellers exclusively own all, entire right, title and interest in all Owned and to the material Intellectual Property, Property used in the conduct of the Business free and clear of all Encumbrances any Encumbrance (other than except for Permitted Encumbrances). Sellers are not bound by any outstanding judgment) including all right, injunction, order or decree or any contractual obligation materially restricting title and interest in and to the use by a Seller of the Owned Intellectual PropertyName, or materially restricting the licensing thereof to any Person. With respect to the Registered Intellectual Property included in the Owned Intellectual Property listed on Schedule 4.09(a), (i) all such Registered Intellectual Property is subsisting and, to Sellers’ Knowledge, valid and enforceable, (ii) have a Seller is valid contractual right or license to use the owner of record, and (iii) all maintenance fees and filings that are required to be made to maintain such Registered Intellectual Property have been timely made (taking into account any applicable grace periods).
(b) Schedule 4.09(b) sets forth, or at the Closing will set forth, a true and complete list of all Intellectual Property Licenses. Except as set forth on Schedule 4.09(b), Sellers have provided Buyer with true and complete copies of all such Intellectual Property Licenses. All such Intellectual Property Licenses are, to Sellers’ Knowledge, valid, binding and enforceable between the applicable Seller and the other parties thereto, and Seller and, to Sellers’ Knowledge, such other parties are same in compliance with the material terms and conditions of such Intellectual Property Licenses.
(c) To Sellers’ Knowledge, the conduct of the Business as currently conducted does not infringeconducted.
(d) All registrations for Copyrights, misappropriate, dilute or otherwise violatePatent Rights and Trademarks identified in Schedule 5.10(a) are valid and in force, and all applications to register any unregistered Copyrights, Patent Rights and Trademarks so identified and used in the past three conduct of the Business are pending and in good standing. The Companies have the right to bring actions for infringement or unauthorized use of the Copyrights, Patent Rights, Trademarks and Software owned by the Companies.
(3e) years Except as set forth in Schedule 5.10(e), since January 1, 2016: (i) the conduct of the Business has not infringed, misappropriated or otherwise violatedviolated any third party’s Intellectual Property, (ii) no infringement, misappropriation or violation by Seller or its Subsidiaries of any Intellectual Property rights of any Third Party. Sellers have not received other Person has occurred or resulted in any notice that Sellers’ use way from their conduct of the Transferred Business, (iii) no written notice of a claim of any infringement, misappropriation or violation of any Intellectual Property of any other Person has been made or asserted to the Companies or the Seller or any of its Subsidiaries in respect of the conduct of the Business, and (iv) to the Knowledge of Seller, no other Person is infringing, misappropriating or otherwise violating any Intellectual Property owned by Seller or its Subsidiaries and used primarily in the conduct of the Business, which in the case of any of clauses (i) through (iv), would individually or in the aggregate reasonably be expected to be result in a material Liability to the Business.
(f) No proceedings are pending or, to the Knowledge of Seller, threatened against the Companies, the Seller or their respective Subsidiaries which challenge the validity of any Copyright, Patent Right or Trademark identified in Schedule 5.10(a) or ownership of any other material Intellectual Property rights owned by the Companies, the Seller or their respective Affiliates and used in the conduct of the Business.
(g) The Companies, and Seller and its Subsidiaries in connection with the Business, have taken commercially reasonable steps to maintain and protect their Trade Secrets that each own.
(h) The Companies and Seller and its Subsidiaries have implemented commercially reasonable measures designed to maintain and protect the material source code for all Software (i) owned by any of the Companies or (ii) owned by Seller and its other Subsidiaries, which is used primarily in the conduct of the Business as currently conducted. None of the Companies, the Seller or their respective Affiliates have disclosed, delivered, licensed or otherwise made available any source code for any Software owned by any of them which is used in the conduct of the Business, as currently conducted, to any Person who was not, as of the date of disclosure or delivery, an employee or contractor of the Companies or otherwise under an obligation to preserve the confidentiality of such source code.
(i) Seller and its Subsidiaries, in each case in connection with conduct with respect to the Business have implemented commercially reasonable measures designed to protect the internal and external security and integrity of all Company IT Systems, and the data stored or contained therein or transmitted thereby. Except as set forth in Schedule 5.10(i), there have been (i) since January 1, 2016, to the Knowledge of Seller, no material unauthorized intrusions or breaches of the security of the Company IT Systems or any Software owned or licensed by Seller or its Subsidiaries, which is used primarily in the conduct of the Business as currently conducted infringes, misappropriates, dilutes or otherwise violates, or in the past three (3) years has infringed, misappropriated or otherwise violated, any Intellectual Property Rights of any Third Party. No Proceedings are pending and no written notices have been received by Sellers during the past three (3) years (or earlier, if presently not resolved), in each case, alleging any infringement, misappropriation or other violation by Sellers of the Intellectual Property rights of any Third Party. Except as set forth in Schedule 4.09(c), to Sellers’ Knowledge, during the past three (3) years (or earlier, if presently not resolved) no Person has infringed, misappropriated, diluted or otherwise violated any of the Owned Intellectual Property or Transferred Technology, and no Seller has made or asserted any claim, demand or notice against any person or entity alleging any such infringement, misappropriation, dilution or other violation. There is no Proceeding pending or, to Sellers’ Knowledge, threatened, challenging a Seller’s ownership of any Owned Intellectual Property, or its right to use any Transferred Intellectual Property, or challenging the validity, registrability, or enforceability of any Registered Intellectual Property included in the Owned Intellectual Property.
(d) Sellers represent that they are, each as applicable, the registrant of record of each domain name as set forth in Schedule 4.09(d) (collectively, the “Domain Names”).
(e) Sellers have taken commercially reasonable measures to protect the confidentiality of all Trade Secrets included in the Owned Intellectual Property and no material Trade Secrets have been disclosed by Sellers to any Person except pursuant to written non-disclosure agreements or other obligations of confidentiality, and, to Sellers’ Knowledge, there has not been a breach of any such agreement or obligation by any such Person.
(f) To Seller’s Knowledge, Sellers have obtained from each Person (including current and former employees and independent contractors) who has created or developed for or on behalf of Sellers any Owned Intellectual Property that is material to the Business a written, present and, valid assignment of such Intellectual Property to a Seller.
(g) To Sellers’ Knowledge, in the past three (3) years, there has been no material unauthorized access to or material unauthorized use of any confidential or proprietary information or data that is both in Sellers’ possession or control and material to the Business.
(h) With respect to any material Software included within the Transferred Intellectual Property, to Sellers’ Knowledge (i) such Software is free from any material bugs, viruses or other malicious code, (ii) no material failures or interruptions in (A) the Source Code for such Company IT Systems or (B) any Software has owned or licensed by Seller or any of its Subsidiaries that is used primarily in the conduct of the Business, since January 1, 2016 that have not been disclosed to any Third Party, and (iii) such Software does not contain, derive from or link to any open source Software remedied in a manner that requires the disclosure of any proprietary Source Code, limits the ability to charge fees, or grants any license to any Third Party to make derivative works.
(i) Neither the execution, delivery or performance of this Agreement, nor the consummation of the transactions contemplated by the Ancillary Agreements will result in the all material loss or impairment of any of the Owned Intellectual Propertyrespects.
(j) All third-party code that is incorporated into To the proprietary Knowledge of Seller, in no case does the use, incorporation or distribution of Open Source Software included in the Transferred Intellectual Property and that is critical to the operation of such Software is commercially available (each a “Critical IP License” and collectively “Critical IP Licenses”), and following Closing, Buyer will be able to procure a license for all such third-party code for by (i) an aggregate amount during any of the one-year period immediately following the Closing that shall not exceed the amount reflected for such third-party code Companies in connection with any Software owned or licensed by any of them which is used in the Unaudited Financial Statements by more than $200,000conduct of the Business, and as currently conducted or (ii) an aggregate amount during the twelve (12) months period following the initial one-year period immediately following Closing that shall not exceed the amount reflected for such third-party code Seller or its Subsidiaries in connection with any Software owned or licensed by any of them and used primarily in the Unaudited Financial Statements by more than $200,000; provided that conduct of the Business, give rise to any increases in obligation to disclose or distribute any source code, to license fees resulting from a volume increase, additional licenses any such Software or other change in the operation of Business post Closing shall not be breaches of this representation.
(k) Buyer and Sellers agree that the representations and warranties included in this Section 4.09 shall be the sole and exclusive representations and warranties of Sellers with respect to Intellectual Property matters in this Agreementfor the purpose of making derivative works or to distribute any such Software or Intellectual Property without charge.
Appears in 2 contracts
Samples: Stock Purchase Agreement (Western Union CO), Stock Purchase Agreement (Aci Worldwide, Inc.)
Intellectual Property. (a) Except as set forth on Schedule 4.09(a5.5(a) sets forth a true and complete list to this Agreement, the Seller owns or has the right to use all of all (i) Registered its Intellectual Property included in the Owned Intellectual Property, indicating for each item the registration or application number, the registration or application date, and the applicable filing jurisdiction and (ii) Owned Intellectual Property that is not registered but that is material to the operation of the Business. Sellers exclusively own all, right, title and interest in all Owned Intellectual Propertyrights, free and clear of all Encumbrances (other than Permitted Encumbrances). Sellers are The Seller is not bound by obligated to make any outstanding judgment, injunction, order or decree or payment to any contractual obligation materially restricting Person for the use by a Seller of any such Intellectual Property rights and has not developed jointly with any other Person any of the Owned Intellectual Property, or materially restricting the licensing thereof to any Person. With foregoing with respect to the Registered Intellectual Property included in the Owned Intellectual Property listed on Schedule 4.09(a), (i) all such Registered Intellectual Property is subsisting and, to Sellers’ Knowledge, valid and enforceable, (ii) a Seller is the owner of record, and (iii) all maintenance fees and filings that are required to be made to maintain such Registered Intellectual Property have been timely made (taking into account which any applicable grace periods)other Person has any rights.
(b) Schedule 4.09(b) sets forth, or at The Seller has taken reasonable steps to protect and maintain the Closing will set forth, a true confidentiality and complete list of all Intellectual Property Licenses. Except as set forth on Schedule 4.09(b), Sellers have provided Buyer with true and complete copies secrecy of all such Intellectual Property Licenses. All such Intellectual Property Licenses are, rights (other than as necessary to Sellers’ Knowledge, valid, binding obtain patent protection therefore) and enforceable between otherwise to maintain and protect the applicable Seller and the other parties thereto, and Seller and, to Sellers’ Knowledge, such other parties are in compliance with the material terms and conditions of such Intellectual Property Licensesvalue thereof.
(c) To Sellers’ the Seller’s Knowledge, none of the Seller’s Intellectual Property rights infringed or conflicted with or now infringes or conflicts with any Intellectual Property rights owned or used by any other Person. To the Seller’s Knowledge, the conduct Seller (i) is not currently infringing, misappropriating or making any unlawful use of the Business as currently conducted does not infringe, misappropriate, dilute any Intellectual Property owned or otherwise violate, used by any other Person and in the past three (3ii) years has not infringed, misappropriated or otherwise violatedmade any unlawful use of, or received actual, alleged, possible or potential infringement, misappropriation or unlawful use of, any Intellectual Property rights of owned or used by any Third Partyother Person. Sellers have Seller has not received any notice that Sellers’ use of the Transferred Intellectual Property in the conduct of the Business as currently conducted infringes, misappropriates, dilutes or otherwise violates, or in the past three (3) years has infringed, misappropriated or otherwise violated, any Intellectual Property Rights of any Third Party. No Proceedings are pending and no written notices have been received by Sellers during the past three (3) years (or earlier, if presently not resolved), in each case, alleging any infringement, misappropriation or other violation by Sellers communication (in writing or otherwise) of the Intellectual Property rights of any Third Party. Except as set forth in Schedule 4.09(c), to Sellers’ Knowledge, during the past three (3) years (or earlier, if presently not resolved) no Person has infringed, misappropriated, diluted or otherwise violated any of the Owned Intellectual Property foregoing. To the Seller’s Knowledge, no other Person was infringing, misappropriating or Transferred Technologymaking any unlawful use of, and no Seller has made Intellectual Property owned or asserted used by any claimother Person infringed or conflicted with, demand or notice against any person or entity alleging any such infringement, misappropriation, dilution or other violation. There is no Proceeding pending or, to Sellers’ Knowledge, threatened, challenging a of Seller’s ownership of any Owned Intellectual Property, or its right to use any Transferred Intellectual Property, or challenging the validity, registrability, or enforceability of any Registered Intellectual Property included in the Owned Intellectual Property.
(d) Sellers represent that they areThe Intellectual Property rights included in the Assets constitute all the Intellectual Property necessary to enable the Seller to conduct the Business in the manner in which the Business is being conducted and to allow the Buyer to conduct the Business in the same manner. The Seller has not licensed any of the Seller’s Intellectual Property to any Person on an exclusive basis, each as applicableor entered into any covenant not to compete or contract limiting its ability to exploit fully any of its Intellectual Property or to transact business in any market or geographical area or with any Person, the registrant of record of each domain name except as set forth in Schedule 4.09(d5.5(d) (collectively, the “Domain Names”)to this Agreement.
(e) Sellers All current employees of the Seller have taken commercially reasonable measures executed and delivered to protect the Seller a confidentiality of all Trade Secrets included in agreement that is substantially similar to the Owned Intellectual Property and no material Trade Secrets have been disclosed by Sellers form attached as Appendix A to any Person except pursuant to written non-disclosure agreements or other obligations of confidentiality, and, to Sellers’ this Agreement. To the Seller’s Knowledge, there has not been a breach none of such employees is in violation of any such agreement or obligation by any such Personagreement.
(f) To Seller’s KnowledgeExcept as set forth on Schedule 5.5(f) to this Agreement, Sellers have obtained from each Person (including current and former employees and independent contractors) who Seller has created not granted or developed for suffered any license or on behalf of Sellers any Owned Intellectual Property that is material to the Business a written, present and, valid assignment of such Intellectual Property to a Seller.
(g) To Sellers’ Knowledge, in the past three (3) years, there has been no material unauthorized access to or material unauthorized use sublicense of any confidential rights under or proprietary information or data that is both in Sellers’ possession or control and material to the Business.
(h) With with respect to any material Software included within the Transferred Intellectual Property, to Sellers’ Knowledge (i) such Software is free from any material bugs, viruses or other malicious code, (ii) the Source Code for such Software has not been disclosed to any Third Party, and (iii) such Software does not contain, derive from or link to any open source Software in a manner that requires the disclosure of any proprietary Source Code, limits the ability to charge fees, or grants any license to any Third Party to make derivative works.
(i) Neither the execution, delivery or performance of this Agreement, nor the consummation of the transactions contemplated by the Ancillary Agreements will result in the material loss or impairment of any of the Owned Seller’s Intellectual Property.
(j) All third-party code that is incorporated into the proprietary Software included in the Transferred Intellectual Property and that is critical to the operation of such Software is commercially available (each a “Critical IP License” and collectively “Critical IP Licenses”), and following Closing, Buyer will be able to procure a license for all such third-party code for (i) an aggregate amount during the one-year period immediately following the Closing that shall not exceed the amount reflected for such third-party code in the Unaudited Financial Statements by more than $200,000, and (ii) an aggregate amount during the twelve (12) months period following the initial one-year period immediately following Closing that shall not exceed the amount reflected for such third-party code in the Unaudited Financial Statements by more than $200,000; provided that any increases in license fees resulting from a volume increase, additional licenses or other change in the operation of Business post Closing shall not be breaches of this representation.
(k) Buyer and Sellers agree that the representations and warranties included in this Section 4.09 shall be the sole and exclusive representations and warranties of Sellers with respect to Intellectual Property matters in this Agreement.
Appears in 2 contracts
Samples: Asset Purchase Agreement (Global Geophysical Services Inc), Asset Purchase Agreement (Global Geophysical Services Inc)
Intellectual Property. (a) Schedule 4.09(a7.17(a) sets forth (i) a true true, correct and complete list and a brief description of all (i) Registered Owned Intellectual Property included in the Owned Intellectual Propertythat are registered with or filed for registration with any Governmental Authority, indicating for including a complete identification of each item the registration or application number, the registration or application date, patent and the applicable filing jurisdiction patent application; and (ii) a true, correct and complete list and a brief description of all Licensed Intellectual Property, other than any software that is generally available on standard terms for less than Ten Thousand U.S. Dollars (US$10,000) per copy, seat, CPU or named user. The rights of the Company in or to such Owned Intellectual Property that is not registered but that is material to the operation of the Business. Sellers exclusively own all, right, title and interest in all Owned Intellectual Property, free and clear of all Encumbrances (other than Permitted Encumbrances). Sellers are not bound by any outstanding judgment, injunction, order or decree or any contractual obligation materially restricting the use by a Seller of the Owned Intellectual Property, or materially restricting the licensing thereof to any Person. With respect to the Registered Licensed Intellectual Property included in do not conflict with or infringe on the Owned Intellectual Property listed on Schedule 4.09(a), (i) all such Registered Intellectual Property is subsisting and, to Sellers’ Knowledge, valid and enforceable, (ii) a Seller is the owner rights of recordany other Person, and (iii) all maintenance fees and filings that are required neither Sellers nor the Company has received any claim or written notice from any Person to be made to maintain such Registered Intellectual Property have been timely made (taking into account any applicable grace periods)effect.
(b) Schedule 4.09(b) sets forthThe Company has delivered to Purchaser true, or at the Closing will set forth, a true and complete list of all Intellectual Property Licenses. Except as set forth on Schedule 4.09(b), Sellers have provided Buyer with true correct and complete copies of all such the registrations for Owned Intellectual Property Licenses. All such and agreements pursuant to which the Licensed Intellectual Property Licenses are, identified on Schedule 7.17(a) have been licensed or sublicensed to Sellers’ Knowledge, valid, binding and enforceable between the applicable Seller and the other parties thereto, and Seller and, to Sellers’ Knowledge, such other parties are in compliance with the material terms and conditions of such Intellectual Property LicensesCompany.
(c) To Sellers’ KnowledgeThe Company owns all Owned Intellectual Property free and clear of any Encumbrance, other than any non-exclusive licenses granted by the conduct of the Business as currently conducted does not infringe, misappropriate, dilute or otherwise violate, and Company in the past three (3) years ordinary course of business. The Company has not infringedthe right, misappropriated or otherwise violatedpursuant to valid and enforceable licenses, any Intellectual Property rights of any Third Party. Sellers have not received any notice that Sellers’ to use of the Transferred Licensed Intellectual Property in the conduct manner in which the Licensed Intellectual Property is currently being used. No Actions have been made or asserted or are pending (and, to the Knowledge of the Business as currently conducted infringesCompany, misappropriates, dilutes no Action has been threatened) against the Company either (i) based upon or otherwise violates, challenging or in seeking to deny or restrict the past three (3) years has infringed, misappropriated or otherwise violated, any Intellectual Property Rights use by the Company of any Third Party. No Proceedings are pending and no written notices have been received by Sellers during the past three (3) years (or earlier, if presently not resolved), in each case, alleging any infringement, misappropriation or other violation by Sellers of the Intellectual Property rights of any Third Party. Except as set forth in Schedule 4.09(c), to Sellers’ Knowledge, during the past three (3) years (or earlier, if presently not resolved) no Person has infringed, misappropriated, diluted or otherwise violated any of the Owned Intellectual Property or Transferred Technology, and no Seller has made the Licensed Intellectual Property; or asserted any claim, demand or notice against any person or entity (ii) alleging any such infringement, misappropriation, dilution or other violation. There is no Proceeding pending or, to Sellers’ Knowledge, threatened, challenging a Seller’s ownership of that any Owned Intellectual PropertyProperty or Licensed Intellectual Property is being licensed, sublicensed or its right to use used in violation of patents, copyrights or trademarks or any Transferred Intellectual Property, or challenging the validity, registrability, or enforceability other rights of any Registered Intellectual Property included in Person. To the Owned Intellectual Property.
(d) Sellers represent Knowledge of the Company, no Person is using any patents, copyrights, trademarks, service marks, trade names, trade secrets or similar property that they are, each as applicable, the registrant of record of each domain name as set forth in Schedule 4.09(d) (collectively, the “Domain Names”).
(e) Sellers have taken commercially reasonable measures are confusingly similar to protect the confidentiality of all Trade Secrets included in the Owned Intellectual Property and no material Trade Secrets have been disclosed by Sellers to any Person except pursuant to written non-disclosure agreements or other obligations of confidentiality, and, to Sellers’ Knowledge, there has not been a breach of any such agreement or obligation by any such Person.
(f) To Seller’s Knowledge, Sellers have obtained from each Person (including current and former employees and independent contractors) who has created or developed for or on behalf of Sellers any Owned the Licensed Intellectual Property that is material exclusively licensed to the Business a written, present and, valid assignment of such Company or that infringe upon the Owned Intellectual Property to a Seller.
(g) To Sellers’ Knowledge, in or the past three (3) years, there has been no material unauthorized access to or material unauthorized use of any confidential or proprietary information or data Licensed Intellectual Property that is both in Sellers’ possession or control and material exclusively licensed to the Business.
(h) With respect to any material Software included within Company or upon the Transferred Intellectual Property, to Sellers’ Knowledge (i) such Software is free from any material bugs, viruses or other malicious code, (ii) rights of the Source Code for such Software has not been disclosed to any Third Party, and (iii) such Software does not contain, derive from or link to any open source Software in a manner that requires the disclosure of any proprietary Source Code, limits the ability to charge fees, or grants any license to any Third Party to make derivative works.
(i) Neither the execution, delivery or performance of this Agreement, nor the Company. The consummation of the transactions contemplated by the Ancillary Agreements this Agreement will not result in the material loss termination or impairment of any of the Owned Intellectual Property or Licensed Intellectual Property or any of the rights of the Company in any of the Owned Intellectual Property or Licensed Intellectual Property.
(jd) All third-party code that is incorporated into Each of the proprietary Software included Company’s pending applications relating to trademarks, service marks, copyrights and patents have been made and filed by the Company in the Transferred Intellectual Property and that is critical to the operation of such Software is commercially available (each a “Critical IP License” and collectively “Critical IP Licenses”), and following Closing, Buyer will be able to procure a license for all such third-party code for (i) an aggregate amount during the one-year period immediately following the Closing that shall not exceed the amount reflected for such third-party code in the Unaudited Financial Statements by more than $200,000, and (ii) an aggregate amount during the twelve (12) months period following the initial one-year period immediately following Closing that shall not exceed the amount reflected for such third-party code in the Unaudited Financial Statements by more than $200,000; provided that any increases in license fees resulting from a volume increase, additional licenses or other change in the operation of Business post Closing shall not be breaches of this representationgood faith.
(ke) Buyer To the Knowledge of the Company, no product, service or business activity of the Company infringes or has infringed or otherwise violates or has violated the intellectual property rights of any other Person, and Sellers agree no Actions have been made or asserted or are pending (and, to the Knowledge of the Company, no Action has been threatened) against the Company alleging that any product, service or business activity of the representations and warranties included in this Section 4.09 shall be Company infringes or violates the sole and exclusive representations and warranties intellectual property rights of Sellers with respect to Intellectual Property matters in this Agreementany other Person.
Appears in 2 contracts
Samples: Share Purchase Agreement, Share Purchase Agreement (Silicon Motion Technology CORP)
Intellectual Property. (a) Schedule 4.09(a) sets forth a true Each of the Acquired Entities is the sole and complete list exclusive owner of all (i) Registered Intellectual Property included in the Owned Intellectual Property, indicating for each item the registration or application number, the registration or application date, and the applicable filing jurisdiction and (ii) Owned Intellectual Property that is not registered but that is material to the operation of the Business. Sellers exclusively own all, right, title and interest in and to, or has an enforceable right to use, all Owned material Intellectual PropertyProperty used or held for use in the conduct of the Acton Business as it is currently conducted (collectively, the “Company IP”), free and clear of all Encumbrances (Encumbrances, other than Permitted Encumbrances). Sellers are not bound by any outstanding judgment, injunction, order or decree or any contractual obligation materially restricting the use by a Seller of the Owned Intellectual Property, or materially restricting the licensing thereof to any Person. With respect to the Registered Intellectual Property included in the Owned Intellectual Property listed on Schedule 4.09(a), (i) all such Registered Intellectual Property is subsisting and, to Sellers’ Knowledge, valid and enforceable, (ii) a Seller is the owner of record, and (iii) all maintenance fees and filings that are required to be made to maintain such Registered Intellectual Property have been timely made (taking into account any applicable grace periods).
(b) Section 2.12(b) of the Seller Disclosure Schedule 4.09(b) sets forth, or at the Closing will set forth, a true contains an accurate and complete list of all registered and applied for Intellectual Property Licenses. Except as set forth on Schedule 4.09(bwhich is owned by the Acquired Entities or used by the Acton Business (collectively, the “Registered IP”), Sellers have provided Buyer with true and complete copies of all such Intellectual Property Licenses. All such Intellectual Property Licenses are, to Sellers’ Knowledge, valid, binding and enforceable between the applicable Seller and the other parties thereto, and Seller and, to Sellers’ Knowledge, such other parties are in compliance with the material terms and conditions of such Intellectual Property Licenses.
(c) To Sellers’ KnowledgeAll Registered IP is subsisting, valid and enforceable. The Acquired Entities have taken all reasonable and necessary steps to maintain and enforce the conduct of the Business as currently conducted does not infringe, misappropriate, dilute or otherwise violateCompany IP, and in the past three (3) years has not infringed, misappropriated or otherwise violated, any Intellectual Property rights of any Third Party. Sellers have not received any notice that Sellers’ use of the Transferred Intellectual Property in the conduct of the Business as currently conducted infringes, misappropriates, dilutes or otherwise violates, or in the past three (3) years has infringed, misappropriated or otherwise violated, any Intellectual Property Rights of any Third Party. No Proceedings are pending and no written notices have been received by Sellers during the past three (3) years (or earlier, if presently not resolved), in each case, alleging any infringement, misappropriation or other violation by Sellers of the Intellectual Property rights of any Third Party. Except as set forth in Schedule 4.09(c), to Sellers’ Knowledge, during the past three (3) years (or earlier, if presently not resolved) no Person has infringed, misappropriated, diluted or otherwise violated any of the Owned Intellectual Property or Transferred Technology, and no Seller has made or asserted any claim, demand or notice against any person or entity alleging any such infringement, misappropriation, dilution or other violation. There is no Proceeding pending or, to Sellers’ Knowledge, threatened, challenging a Seller’s ownership of any Owned Intellectual Property, or its right to use any Transferred Intellectual Property, or challenging the validity, registrability, or enforceability of any Registered Intellectual Property included in the Owned Intellectual Property.
(d) Sellers represent that they are, each as applicable, the registrant of record of each domain name as set forth in Schedule 4.09(d) (collectively, the “Domain Names”).
(e) Sellers have taken commercially reasonable measures to protect preserve the confidentiality of all Trade Secrets included therein. After consummation of the transactions contemplated by this Agreement, neither Seller nor any current or former Affiliate of Seller (other than the Acquired Companies) will own or have any right, title or interest in or to any Company IP. The execution, delivery and performance of this Agreement will not result in the Owned Intellectual Property and no material Trade Secrets have been disclosed by Sellers to any Person except pursuant to written non-disclosure agreements loss or other obligations impairment of confidentiality, and, to Sellers’ Knowledge, there has not been a breach or payment of any such agreement additional amounts with respect to, nor require the consent of any other Person in respect of, the Acquired Companies’ right to own or obligation by use any such PersonCompany IP.
(fd) To Seller’s Knowledge, Sellers have obtained from each Person (including current and former employees and independent contractors) who has created or developed for or on behalf of Sellers any Owned Intellectual Property that is material to the Business a written, present and, valid assignment of such Intellectual Property to a Seller.
(g) To Sellers’ Knowledge, in the past three (3) years, there has been no material unauthorized access to or material unauthorized use of any confidential or proprietary information or data that is both in Sellers’ possession or control and material to the Business.
(h) With respect to any material Software included within the Transferred Intellectual Property, to Sellers’ Knowledge (i) such Software is free from no Person has infringed, misappropriated or otherwise violated any material bugs, viruses or other malicious code, (ii) the Source Code for such Software has not been disclosed to any Third Party, and (iii) such Software does not contain, derive from or link to any open source Software in a manner that requires the disclosure of any proprietary Source Code, limits the ability to charge fees, or grants any license to any Third Party to make derivative works.
(i) Neither the execution, delivery or performance of this Agreement, nor the consummation of the transactions contemplated by the Ancillary Agreements will result in the material loss or impairment of any of the Owned Intellectual Property.
(j) All third-party code that is incorporated into the proprietary Software included in the Transferred Intellectual Property and that is critical to the operation of such Software is commercially available (each a “Critical IP License” and collectively “Critical IP Licenses”), and following Closing, Buyer will be able to procure a license for all such third-party code for (i) an aggregate amount during the one-year period immediately following the Closing that shall not exceed the amount reflected for such third-party code in the Unaudited Financial Statements by more than $200,000Company IP, and (ii) an aggregate amount during each of the twelve Acquired Entities, the conduct of the Acton Business as currently and formerly conducted, and the products and services of the Acquired Entities, have not infringed, misappropriated or otherwise violated the Intellectual Property rights of any Person. No Proceedings (12including any opposition, cancellation, review or other Proceedings) months period following are settled or pending or, to Seller’s Knowledge, threatened (including any offers to take a license), (x) alleging that either or both of the initial one-year period immediately following Closing that shall not exceed Acquired Entities has infringed, misappropriated or otherwise violated the amount reflected for such third-party code in Intellectual Property rights of any Person, (y) challenging the Unaudited Financial Statements by more than $200,000; provided validity, enforceability, registrability or ownership of any Company IP, or (z) alleging that any increases in license fees resulting from a volume increasePerson infringed, additional licenses misappropriated or other change in the operation of Business post Closing shall not be breaches of this representationotherwise violated any Company IP.
(ke) Buyer To Seller’s Knowledge, the information technology systems (including any outsourced systems) used by the Acquired Companies in the Ordinary Course have not suffered any material security breach or material failure. Each Acquired Company is in compliance with all binding policies implemented by such Acquired Company and Sellers agree that all applicable Laws, in each case, relating to privacy, data protection, the representations payment card industry and warranties included in this Section 4.09 shall be the sole collection, use, storage, transfer, disclosure and exclusive representations and warranties protection of Sellers with respect personal information. There are no settled or pending or, to Intellectual Property matters in this AgreementSeller’s Knowledge, threatened claims against any of the Acquired Companies by any Person or Governmental Authority alleging a material violation of any such policies or applicable Laws.
Appears in 2 contracts
Samples: Membership Interest Purchase Agreement, Membership Interest Purchase Agreement (WillScot Corp)
Intellectual Property. (a) Schedule 4.09(a5.6(a) sets forth a true list of all material registrations and material applications for registration of Purchased Intellectual Property.
(b) Schedule 5.6(b) sets forth a complete list of all (i) Registered written Intellectual Property included in the Owned Intellectual Property, indicating for each item the registration or application number, the registration or application date, and the applicable filing jurisdiction and (ii) Owned Intellectual Property Licenses that is not registered but that is are material to the operation of any of the Plants or the Business. Sellers exclusively own all, rightregardless of whether such Intellectual Property Licenses involve payments by or to a Seller or an Affiliate of any Seller.
(c) Except as set forth on Schedule 5.6(c):
(i) A Seller owns all Intellectual Property listed on Schedule 5.6(a) and has valid rights in and to, title including all rights to use, reproduce, publish, distribute, perform, display, and interest create derivative works of, as applicable, all such Purchased Intellectual Property as such Intellectual Property is used in all Owned Intellectual Propertythe Ordinary Course of Business, in each case, free and clear of all Encumbrances Liens (other than Permitted Encumbrances). Sellers are not bound by any outstanding judgment, injunction, order or decree or any contractual obligation materially restricting the use by a Seller of the Owned Intellectual Property, or materially restricting the licensing thereof to any Person. With respect to the Registered Intellectual Property included in the Owned Intellectual Property listed on Schedule 4.09(a), (iExceptions) all such Registered Intellectual Property is subsisting and, to Sellers’ Knowledge, valid and enforceable, (ii) a Seller is the owner of record, and (iii) all maintenance fees and filings that are required to be made to maintain such Registered Intellectual Property have been timely made (taking into account any applicable grace periods).
(b) Schedule 4.09(b) sets forth, or at the Closing will set forth, a true and complete list of all Intellectual Property Licenses. Except as set forth on Schedule 4.09(b), Sellers have provided Buyer with true and complete copies of all such Intellectual Property Licenses. All such Intellectual Property Licenses are, to Sellers’ Knowledge, valid, binding and enforceable between the applicable Seller and the other parties thereto, and Seller and, to Sellers’ Knowledge, such other parties are in compliance with the material terms and conditions of such Intellectual Property Licenses.
(cii) The Purchased Intellectual Property is not the subject of any ownership, validity, use, or enforceability challenge or claim received by Sellers in writing or, to the Knowledge of Sellers, any outstanding Order restricting the use by Sellers thereof or adversely affecting any of the rights of Sellers thereto, except as would not, individually or in the aggregate, be material.
(iii) No Seller has received any written notice of any default or any event that with notice or lapse of time, or both, would constitute a default under any Intellectual Property License that is a Purchased Contract and to which any Seller is a party or by which it is bound, except for defaults that would not, individually or in the aggregate, be material. To the Knowledge of Sellers, no Person is violating any Intellectual Property exclusively licensed to any Seller under an Intellectual Property License that is a Purchased Contract, except for violations that would not, individually or in the aggregate, be material.
(iv) To the Knowledge of Sellers’ Knowledge, in the conduct operation of the Business as currently conducted does not infringe, misappropriate, dilute or otherwise violateon the date hereof (A) no Seller is violating, and in since the past three (3) years Petition Date, has not infringed, misappropriated or otherwise violated, any Intellectual Property rights of any Third Party. other Person and (B) there are no Legal Proceedings, pending or threatened, concerning any claim that Sellers have not received any notice that Sellers’ use of the Transferred Intellectual Property in the conduct of the Business as currently conducted infringesinfringed, misappropriatesdiluted, dilutes misappropriated, or otherwise violates, or in the past three (3) years has infringed, misappropriated or otherwise violated, violated any Intellectual Property Rights rights of any Third Party. No Proceedings are pending and no written notices have been received by Sellers during the past three (3) years (or earlier, if presently not resolved)other Person, in each case, alleging any infringementexcept as would not, misappropriation individually or other violation by Sellers of the Intellectual Property rights of any Third Party. Except as set forth in Schedule 4.09(c), to Sellers’ Knowledge, during the past three (3) years (or earlier, if presently not resolved) no Person has infringed, misappropriated, diluted or otherwise violated any of the Owned Intellectual Property or Transferred Technology, and no Seller has made or asserted any claim, demand or notice against any person or entity alleging any such infringement, misappropriation, dilution or other violation. There is no Proceeding pending or, to Sellers’ Knowledge, threatened, challenging a Seller’s ownership of any Owned Intellectual Property, or its right to use any Transferred Intellectual Property, or challenging the validity, registrability, or enforceability of any Registered Intellectual Property included in the Owned Intellectual Propertyaggregate, have or reasonably be expected to have, a Seller Material Adverse Effect.
(d) Sellers represent that they are, each as applicable, the registrant of record of each domain name as set forth in Schedule 4.09(d) (collectively, the “Domain Names”).
(e) Sellers have taken commercially reasonable measures to protect the confidentiality of all Trade Secrets included in the Owned Intellectual Property and no material Trade Secrets have been disclosed by Sellers to any Person except pursuant to written non-disclosure agreements or other obligations of confidentiality, and, to Sellers’ Knowledge, there has not been a breach of any such agreement or obligation by any such Person.
(f) To Seller’s Knowledge, Sellers have obtained from each Person (including current and former employees and independent contractors) who has created or developed for or on behalf of Sellers any Owned Intellectual Property that is material to the Business a written, present and, valid assignment of such Intellectual Property to a Seller.
(g) To Sellers’ Knowledge, in the past three (3) years, there has been no material unauthorized access to or material unauthorized use of any confidential or proprietary information or data that is both in Sellers’ possession or control and material to the Business.
(h) With respect to any material Software included within the Transferred Intellectual Property, to Sellers’ Knowledge (i) such Software is free from any material bugs, viruses or other malicious code, (ii) the Source Code for such Software has not been disclosed to any Third Party, and (iii) such Software does not contain, derive from or link to any open source Software in a manner that requires the disclosure of any proprietary Source Code, limits the ability to charge fees, or grants any license to any Third Party to make derivative works.
(i) Neither the execution, delivery or performance of this Agreement, nor the consummation of the transactions contemplated by the Ancillary Agreements will result in the material loss or impairment of any of the Owned Intellectual Property.
(j) All third-party code that is incorporated into the proprietary Software included in the Transferred Intellectual Property and that is critical to the operation of such Software is commercially available (each a “Critical IP License” and collectively “Critical IP Licenses”), and following Closing, Buyer will be able to procure a license for all such third-party code for (i) an aggregate amount during the one-year period immediately following the Closing that shall not exceed the amount reflected for such third-party code in the Unaudited Financial Statements by more than $200,000, and (ii) an aggregate amount during the twelve (12) months period following the initial one-year period immediately following Closing that shall not exceed the amount reflected for such third-party code in the Unaudited Financial Statements by more than $200,000; provided that any increases in license fees resulting from a volume increase, additional licenses or other change in the operation of Business post Closing shall not be breaches of this representation.
(k) Buyer and Sellers agree that the representations and warranties included in this Section 4.09 shall be the sole and exclusive representations and warranties of Sellers with respect to Intellectual Property matters in this Agreement.
Appears in 2 contracts
Samples: Asset Purchase Agreement, Asset Purchase Agreement (Flowers Foods Inc)
Intellectual Property. (a) Section 4.9 of the Disclosure Schedule 4.09(a) sets forth a true and complete list of all (i) Registered Intellectual Property included in intellectual property registrations and applications, Internet domain names and material unregistered intellectual property owned by the Owned Intellectual Property, indicating for each item the registration Companies or application number, the registration or application date, and the applicable filing jurisdiction any Subsidiary and (ii) Owned Intellectual Property that is not registered but that is material intellectual property licensed by the Companies or any Subsidiary (whether as licensee or licensor) (excluding "clickwrap" or "shrinkwrap" agreements, agreements contained in or pertaining to "off-the-shelf" software, and the terms of use or service for any website, to the operation extent each is commercially available to consumers on nondiscriminatory pricing terms). There are no pending actions against any of the BusinessCompanies or any Subsidiary of which the Companies or any Subsidiary have been given written notice that assert that the Companies or any Subsidiary violate or infringe or unlawfully use the intellectual property rights of others or challenging the Companies' or any Subsidiary's ownership or use of, or the validity, enforceability or registrability of any intellectual property. Sellers To the knowledge of Seller, neither any of the Companies nor any Subsidiary violates, infringes upon or unlawfully uses any intellectual property owned by another Person. Neither any of the Companies nor any Subsidiary has received any written notice alleging any violation, infringement upon or unlawful use of any intellectual property rights of others or challenging the Companies' or any Subsidiary's ownership or use of, or the validity, enforceability or registrability of any intellectual property that remains unresolved on the date hereof. Except as set forth in Section 4.9(a) of the Disclosure Schedule, neither the Companies nor any Subsidiary has brought or threatened any Action against another Person involving intellectual property, and to the knowledge of Seller, there is no basis for any Action regarding the foregoing.
(b) Except as set forth in Section 4.9(b) of the Disclosure Schedule, the Companies or a Subsidiary solely and exclusively own all, right, title and interest in owns all intellectual property owned by the Companies or a Subsidiary ("Companies Owned Intellectual Property") and has the valid and enforceable right to use all other material intellectual property used or held for use by the Companies or any Subsidiary ("Companies Used Intellectual Property"), free and clear of all Encumbrances (other than Permitted material Encumbrances). Sellers are not bound by any outstanding judgment, injunction, order or decree or any contractual obligation materially restricting the use by a Seller of the Owned Intellectual Property, or materially restricting the licensing thereof to any Person. With respect to the Registered Intellectual Property included in the Owned Intellectual Property listed on Schedule 4.09(a), (i) all such Registered Intellectual Property is subsisting and, to Sellers’ Knowledge, valid and enforceable, (ii) a Seller is the owner of record, and (iii) all maintenance fees and filings that are required to be made to maintain such Registered Intellectual Property have been timely made (taking into account any applicable grace periods).
(b) Schedule 4.09(b) sets forth, or at the Closing will set forth, a true and complete list of all Intellectual Property Licenses. Except as set forth on Schedule 4.09(b), Sellers have provided Buyer with true and complete copies of all such Intellectual Property Licenses. All such Intellectual Property Licenses are, to Sellers’ Knowledge, valid, binding and enforceable between the applicable Seller and the other parties thereto, and Seller and, to Sellers’ Knowledge, such other parties are in compliance with the material terms and conditions of such Intellectual Property Licenses.
(c) To Sellers’ Knowledge, the conduct of the Business as currently conducted does not infringe, misappropriate, dilute or otherwise violate, and in the past three (3) years has not infringed, misappropriated or otherwise violated, any Intellectual Property rights of any Third Party. Sellers have not received any notice that Sellers’ use of the Transferred Intellectual Property in the conduct of the Business as currently conducted infringes, misappropriates, dilutes or otherwise violates, or in the past three (3) years has infringed, misappropriated or otherwise violated, any Intellectual Property Rights of any Third Party. No Proceedings are pending and no written notices have been received by Sellers during the past three (3) years (or earlier, if presently not resolved), in each case, alleging any infringement, misappropriation or other violation by Sellers of the Intellectual Property rights of any Third Party. Except as set forth in Schedule 4.09(c), to Sellers’ Knowledge, during the past three (3) years (or earlier, if presently not resolved) no Person has infringed, misappropriated, diluted or otherwise violated any of the The Companies Owned Intellectual Property or Transferred Technology, and no Seller has made or asserted any claim, demand or notice against any person or entity alleging any such infringement, misappropriation, dilution or other violation. There is no Proceeding pending orand, to Sellers’ Knowledgethe knowledge of Seller, threatened, challenging a Seller’s ownership of any Owned Companies Used Intellectual Property, or its right to use any Transferred Intellectual Property, or challenging the validity, registrability, or enforceability of any Registered Intellectual Property included in the Owned Intellectual Property.
(d) Sellers represent that they are, each as applicable, the registrant of record of each domain name as set forth in Schedule 4.09(d) (collectively, the “Domain Names”).
(e) Sellers have taken commercially reasonable measures to protect the confidentiality of all Trade Secrets included in the Owned Intellectual Property and no material Trade Secrets have been disclosed by Sellers to any Person except pursuant to written non-disclosure agreements or other obligations of confidentiality, and, to Sellers’ Knowledge, there has not been a breach of any such agreement or obligation by any such Person.
(f) To Seller’s Knowledge, Sellers have obtained from each Person (including current and former employees and independent contractors) who has created or developed for or on behalf of Sellers any Owned Intellectual Property that is material to the Business a written, present and, valid assignment of such Intellectual Property to a Seller.
(g) To Sellers’ Knowledge, in the past three (3) years, there has been no material unauthorized access to or material unauthorized use of any confidential or proprietary information or data that is both in Sellers’ possession or control and material to the Business.
(h) With respect to any material Software included within the Transferred Intellectual Property, to Sellers’ Knowledge (i) such Software is free from any material bugs, viruses or other malicious codehas been duly maintained, (ii) the Source Code for such Software has not been disclosed to any Third Partyis subsisting, in full force and effect and (iii) such Software does has not containbeen cancelled, derive from expired or link to any open source Software in a manner that requires the disclosure of any proprietary Source Code, limits the ability to charge fees, or grants any license to any Third Party to make derivative worksabandoned.
(i) Neither the execution, delivery or performance of this Agreement, nor the consummation of the transactions contemplated by the Ancillary Agreements will result in the material loss or impairment of any of the Owned Intellectual Property.
(j) All third-party code that is incorporated into the proprietary Software included in the Transferred Intellectual Property and that is critical to the operation of such Software is commercially available (each a “Critical IP License” and collectively “Critical IP Licenses”), and following Closing, Buyer will be able to procure a license for all such third-party code for (i) an aggregate amount during the one-year period immediately following the Closing that shall not exceed the amount reflected for such third-party code in the Unaudited Financial Statements by more than $200,000, and (ii) an aggregate amount during the twelve (12) months period following the initial one-year period immediately following Closing that shall not exceed the amount reflected for such third-party code in the Unaudited Financial Statements by more than $200,000; provided that any increases in license fees resulting from a volume increase, additional licenses or other change in the operation of Business post Closing shall not be breaches of this representation.
(k) Buyer and Sellers agree that the representations and warranties included in this Section 4.09 shall be the sole and exclusive representations and warranties of Sellers with respect to Intellectual Property matters in this Agreement.
Appears in 2 contracts
Samples: Stock Purchase Agreement (Performance Food Group Co), Stock Purchase Agreement (Chiquita Brands International Inc)
Intellectual Property. (a) Schedule 4.09(a5.17(a) sets forth a true and complete list lists Nuprim’s interest in all the Company Intellectual Property. The Company Intellectual Property consists of all Intellectual Property used by Nuprim in or in connection with the Business. Nuprim has the right to use and license the Company Intellectual Property without payment of additional amounts or consideration other than ongoing royalties or license payments, subject to Schedule 5.17(a), and the consummation of the Transactions will not result in the loss or material impairment of any of the Company Intellectual Property. There are no pending, and, to Nuprim’s Knowledge, no person has threatened in writing to initiate any, attachment or disposal proceedings against the Company Intellectual Property and, where the Company Intellectual Property is not owned by Nuprim, Nuprim Shareholders, the owner thereof has not threatened in writing to terminate any rights attached to the use of such Company Intellectual Property by Nuprim. To Nuprim’s Knowledge, (i) Registered none of the processes employed or the principal products and services dealt in by Nuprim infringe, misappropriate, or otherwise violate the Intellectual Property included in the Owned Intellectual Propertyof any other Person, indicating for each item the registration or application number, the registration or application date, and the applicable filing jurisdiction and (ii) Owned Intellectual Property that is not registered but that is material to the operation none of the Business. Sellers exclusively own all, right, title and interest in all Owned Intellectual Property, free and clear of all Encumbrances (other than Permitted Encumbrances). Sellers are not bound by any outstanding judgment, injunction, order or decree or any contractual obligation materially restricting the use by a Seller of the Owned Intellectual Property, or materially restricting the licensing thereof to any Person. With respect to the Registered Intellectual Property included in the Owned Intellectual Property listed on Schedule 4.09(a), (i) all such Registered Company Intellectual Property is subsisting andbeing infringed, misappropriated, or otherwise violated by any other Person or has been disclosed by Nuprim without proper authorization to Sellers’ Knowledge, valid and enforceable, (ii) a Seller is the owner of record, and (iii) all maintenance fees and filings that are required to be made to maintain such Registered Intellectual Property have been timely made (taking into account any applicable grace periods)other Person.
(b) Schedule 4.09(b) sets forthTo Nuprim’s Knowledge, the Company Intellectual Property, the use thereof, or at the Closing will set forthoperation of the Business by Nuprim, a true and complete list of all does not infringe, misappropriate or otherwise violate any Intellectual Property Licenses. Except as set forth on Schedule 4.09(b), Sellers have provided Buyer with true and complete copies of all such Intellectual Property Licenses. All such Intellectual Property Licenses are, to Sellers’ Knowledge, valid, binding and enforceable between the applicable Seller and the other parties thereto, and Seller and, to Sellers’ Knowledge, such other parties are in compliance with the material terms and conditions of such Intellectual Property Licensesothers.
(c) Nuprim has not been named in any pending suit, action or Proceeding which involves a Claim of infringement of any other Person’s Intellectual Property by Nuprim, or misappropriation of any other Person’s Intellectual Property by Nuprim, nor, to Nuprim’s Knowledge, has any such suit, action or Proceeding which is material to the Business been threatened in writing against Nuprim.
(d) To Sellers’ Nuprim’s Knowledge, the conduct Iclaprim Assets and the patents licensed under such agreement are not subject to the provisions of the Business Xxxx-Xxxx Act of 1980, as currently conducted does not infringeamended.
(e) None of Nuprim, misappropriate, dilute Nuprim Shareholders or otherwise violate, and in their Affiliates have granted to any other Person any license or right to the past three (3) years has not infringed, misappropriated or otherwise violated, any Intellectual Property rights commercial use of any Third Party. Sellers have not received any notice that Sellers’ of the Company Intellectual Property.
(f) Nuprim has the rights and title to use of the Transferred Intellectual Property Iclaprim Assets in the conduct of the Business as currently conducted infringes, misappropriates, dilutes or otherwise violatesany indication, or in the past three (3) years has infringed, misappropriated or otherwise violated, any Intellectual Property Rights of any Third Party. No Proceedings are pending other compounds and no written notices have been received by Sellers during the past three (3) years (or earlier, if presently not resolved), in each case, alleging any infringement, misappropriation or other violation by Sellers of the Intellectual Property rights of any Third Party. Except except as set forth in Schedule 4.09(c), to Sellers’ Knowledge, during the past three (35.17(f) years (or earlier, if presently not resolved) there are no Person has infringed, misappropriated, diluted or otherwise violated any of the Owned Intellectual Property or Transferred Technology, and no Seller has made or asserted any claim, demand or notice against any person or entity alleging any such infringement, misappropriation, dilution or other violation. There is no Proceeding pending or, to Sellers’ Knowledge, threatened, challenging a Seller’s ownership of any Owned Intellectual Property, or its right to use any Transferred Intellectual Property, or challenging the validity, registrability, or enforceability of any Registered Intellectual Property included in the Owned Intellectual Property.
(d) Sellers represent that they are, each as applicable, the registrant of record of each domain name as set forth in Schedule 4.09(d) (collectively, the “Domain Names”).
(e) Sellers have taken commercially reasonable measures to protect the confidentiality of all Trade Secrets included in the Owned Intellectual Property and no material Trade Secrets have been disclosed by Sellers to any Person except pursuant to written non-disclosure agreements or other obligations of confidentiality, and, to Sellers’ Knowledge, there has not been a breach of any such agreement or obligation by any such Person.
(f) To Seller’s Knowledge, Sellers have obtained from each Person (including current and former employees and independent contractors) who has created or developed for or on behalf of Sellers any Owned Intellectual Property that is material pertaining to the Business a written, present and, valid assignment of such Intellectual Property to a SellerIclaprim Assets.
(g) To Sellers’ Knowledge, in the past three (3) years, there has been no material unauthorized access to or material unauthorized use of any confidential or proprietary information or data that is both in Sellers’ possession or control and material to the Business.
(h) With respect to any material Software included within the Transferred Intellectual Property, to Sellers’ Knowledge (i) such Software is free from any material bugs, viruses or other malicious code, (ii) the Source Code for such Software has not been disclosed to any Third Party, and (iii) such Software does not contain, derive from or link to any open source Software in a manner that requires the disclosure of any proprietary Source Code, limits the ability to charge fees, or grants any license to any Third Party to make derivative works.
(i) Neither the execution, delivery or performance of this Agreement, nor the consummation of the transactions contemplated by the Ancillary Agreements will result in the material loss or impairment of any of the Owned Intellectual Property.
(j) All third-party code that is incorporated into the proprietary Software included in the Transferred Intellectual Property and that is critical to the operation of such Software is commercially available (each a “Critical IP License” and collectively “Critical IP Licenses”), and following Closing, Buyer will be able to procure a license for all such third-party code for (i) an aggregate amount during the one-year period immediately following the Closing that shall not exceed the amount reflected for such third-party code in the Unaudited Financial Statements by more than $200,000, and (ii) an aggregate amount during the twelve (12) months period following the initial one-year period immediately following Closing that shall not exceed the amount reflected for such third-party code in the Unaudited Financial Statements by more than $200,000; provided that any increases in license fees resulting from a volume increase, additional licenses or other change in the operation of Business post Closing shall not be breaches of this representation.
(k) Buyer and Sellers agree that the representations and warranties included in this Section 4.09 shall be the sole and exclusive representations and warranties of Sellers with respect to Intellectual Property matters in this Agreement.
Appears in 2 contracts
Samples: Merger Agreement (Motif Bio PLC), Merger Agreement (Motif Bio PLC)
Intellectual Property. (a) Schedule 4.09(a4.11(a) sets forth a true of the Disclosure Schedule lists all Licensed Patents. The Seller is the sole owner of, and complete list has sole interest in, all of all (ithe Licensed Patents. Schedule 4.11(a) Registered Intellectual Property included of the Disclosure Schedule specifies as to each of the Licensed Patents: the jurisdiction in the Owned Intellectual Propertywhich such patent has issued or such patent application has been filed, indicating for each item the registration or its patent number and/or application number, the registration or application date, and the applicable its issue and filing jurisdiction and (ii) Owned Intellectual Property that is not registered but that is material to the operation of the Business. Sellers exclusively own all, right, title and interest in all Owned Intellectual Property, free and clear of all Encumbrances (other than Permitted Encumbrances). Sellers are not bound by any outstanding judgment, injunction, order or decree or any contractual obligation materially restricting the use by a Seller of the Owned Intellectual Property, or materially restricting the licensing thereof to any Person. With respect to the Registered Intellectual Property included in the Owned Intellectual Property listed on Schedule 4.09(a), (i) all such Registered Intellectual Property is subsisting and, to Sellers’ Knowledge, valid and enforceable, (ii) a Seller is the owner of record, and (iii) all maintenance fees and filings that are required to be made to maintain such Registered Intellectual Property have been timely made (taking into account any applicable grace periods)dates.
(b) Schedule 4.09(b) sets forth, or at the Closing will set forth, a true and complete list of all Intellectual Property Licenses. Except as set forth on in Schedule 4.09(b)4.11(b) of the Disclosure Schedule, Sellers have provided Buyer with true and complete copies of all such Intellectual Property Licenses. All such Intellectual Property Licenses arethere are no pending or, to Sellers’ Knowledgethe Knowledge of the Seller, validthreatened, binding and enforceable between the applicable Seller and the other parties theretolitigations, and Seller andinterferences, reexamination, oppositions or like procedures involving any Licensed Patents or, to Sellers’ Knowledgethe Knowledge of the Seller, such other parties are in compliance with the material terms and conditions of such Intellectual Property LicensesKaruna Product Patents.
(c) All of the issued Licensed Patents are in full force and effect and have not lapsed, expired or otherwise terminated, and, to the Knowledge of the Seller, all Licensed Patents and Karuna Product Patents are valid and enforceable. The Seller has not received any written notice relating to the lapse, expiration or other termination of any of the Licensed Patents, or any written legal opinion that alleges that any of the issued Licensed Patents are invalid or unenforceable.
(d) To Sellers’ Knowledgethe Knowledge of the Seller, there is no Person who is or claims to be an inventor under any of the Licensed Patents who is not a named inventor thereof.
(e) The Seller has not, and, to the Knowledge of the Seller, Licensee has not, received any written notice of any claim by any Person (i) challenging the inventorship or ownership of, the conduct rights of the Business Seller or Licensee, as currently conducted applicable, in and to, or the patentability, validity or enforceability of, any Licensed Patent, or (ii) asserting that the development, manufacture, importation, sale, offer for sale or use of any Licensed Product infringes any patent rights or other intellectual property rights of such Person.
(f) To the Knowledge of the Seller, the discovery and development of the Licensed Products did not and does not infringe, misappropriate, dilute misappropriate or otherwise violateviolate any patent rights or other intellectual property rights owned by any other Person, and in other than the past three Karuna Product Patents. Neither the Seller nor, to the Knowledge of the Seller, Licensee, has in-licensed any Patents or other intellectual property rights covering the manufacture, use, sale, offer for sale or import of the Licensed Products.
(3g) years To the Knowledge of the Seller, the manufacture, use, marketing, sale, offer for sale, importation or distribution of the Licensed Products has not infringedand will not, misappropriated infringe, misappropriate or otherwise violatedviolate any patent rights or other intellectual property rights owned by any other Person, any Intellectual Property rights of any Third Party. Sellers have not received any notice that Sellers’ use other than the Karuna Product Patents.
(h) To the Knowledge of the Transferred Intellectual Property in the conduct of the Business as currently conducted infringesSeller, misappropriates, dilutes or otherwise violates, or in the past three (3) years no Person has infringed, misappropriated or otherwise violated, any Intellectual Property Rights of any Third Party. No Proceedings are pending and no written notices have been received by Sellers during the past three (3) years (or earlieris infringing, if presently not resolved), in each case, alleging any infringement, misappropriation or other violation by Sellers of the Intellectual Property rights of any Third Party. Except as set forth in Schedule 4.09(c), to Sellers’ Knowledge, during the past three (3) years (or earlier, if presently not resolved) no Person has infringed, misappropriated, diluted misappropriating or otherwise violated violating, any of the Owned Intellectual Property or Transferred Technology, and no Seller has made or asserted any claim, demand or notice against any person or entity alleging any such infringement, misappropriation, dilution or other violation. There is no Proceeding pending or, to Sellers’ Knowledge, threatened, challenging a Seller’s ownership of any Owned Intellectual Property, or its right to use any Transferred Intellectual Property, or challenging the validity, registrability, or enforceability of any Registered Intellectual Property included in the Owned Intellectual Property.
(d) Sellers represent that they are, each as applicable, the registrant of record of each domain name as set forth in Schedule 4.09(d) (collectively, the “Domain Names”).
(e) Sellers have taken commercially reasonable measures to protect the confidentiality of all Trade Secrets included in the Owned Intellectual Property and no material Trade Secrets have been disclosed by Sellers to any Person except pursuant to written non-disclosure agreements or other obligations of confidentiality, and, to Sellers’ Knowledge, there has not been a breach of any such agreement or obligation by any such Person.
(f) To Seller’s Knowledge, Sellers have obtained from each Person (including current and former employees and independent contractors) who has created or developed for or on behalf of Sellers any Owned Intellectual Property that is material to the Business a written, present and, valid assignment of such Intellectual Property to a Seller.
(g) To Sellers’ Knowledge, in the past three (3) years, there has been no material unauthorized access to or material unauthorized use of any confidential or proprietary information or data that is both in Sellers’ possession or control and material to the Business.
(h) With respect to any material Software included within the Transferred Intellectual Property, to Sellers’ Knowledge (i) such Software is free from any material bugs, viruses or other malicious code, (ii) the Source Code for such Software has not been disclosed to any Third Party, and (iii) such Software does not contain, derive from or link to any open source Software in a manner that requires the disclosure of any proprietary Source Code, limits the ability to charge fees, or grants any license to any Third Party to make derivative worksLicensed Patents.
(i) Neither All required maintenance fees, annuities and like payments with respect to the execution, delivery or performance Licensed Patents for which the Seller controls the prosecution and maintenance in accordance with Article 5 of this the License Agreement, nor and to the consummation Knowledge of the transactions contemplated by the Ancillary Agreements will result in the material loss or impairment of any of the Owned Intellectual PropertySeller, with respect to all other Licensed Patents, have been paid timely.
(j) All thirdNo Third Party has a binding contractual right to prosecute any Licensed Patents on behalf of Licensee. Licensee has not elected not to prosecute any of the Licensed Patents pursuant to Section 5.3 of the License Agreement. The Seller does not own, in-party code license or otherwise control or have rights to any Patents that is incorporated into are necessary or useful for the proprietary Software included in research, development, manufacture, use, marketing, sale, offer for sale, importation or distribution of the Transferred Intellectual Property Licensed Products and that is critical are not licensed to Licensee under the operation License Agreement, including by reversion pursuant to Section 5.3 of such Software is commercially available (each a “Critical IP License” and collectively “Critical IP Licenses”), and following Closing, Buyer will be able to procure a license for all such third-party code for (i) an aggregate amount during the one-year period immediately following the Closing that shall not exceed the amount reflected for such third-party code in the Unaudited Financial Statements by more than $200,000, and (ii) an aggregate amount during the twelve (12) months period following the initial one-year period immediately following Closing that shall not exceed the amount reflected for such third-party code in the Unaudited Financial Statements by more than $200,000; provided that any increases in license fees resulting from a volume increase, additional licenses or other change in the operation of Business post Closing shall not be breaches of this representation.
(k) Buyer and Sellers agree that the representations and warranties included in this Section 4.09 shall be the sole and exclusive representations and warranties of Sellers with respect to Intellectual Property matters in this License Agreement.
Appears in 2 contracts
Samples: Royalty Purchase Agreement (PureTech Health PLC), Royalty Purchase Agreement (PureTech Health PLC)
Intellectual Property. (a) Schedule 4.09(aSubject to Sections 3.1.5(b) sets forth a true and complete list of all (i) Registered Intellectual Property included in the Owned Intellectual Property, indicating for each item the registration or application number, the registration or application date, and the applicable filing jurisdiction and (ii) Owned Intellectual Property that is not registered but that is material to the operation of the Business. Sellers f), Seller or its Affiliates solely and exclusively own all, owns or Controls all right, title and interest to all Seller IP, in all Owned Intellectual Propertyeach case, free and clear of all Encumbrances (other than Permitted Encumbrances). Sellers are Schedule 2.1.2(b) sets forth all Seller IP and indicates whether or not bound such Seller IP is owned by any outstanding judgmentSeller or its Affiliates. For the avoidance of doubt, injunctionthis Section 3.1.5 does not constitute a representation or warranty of Seller relating to infringement, order misappropriation or decree or any contractual obligation materially restricting the use by a Seller other violation of the Owned Intellectual Property, or materially restricting the licensing thereof to Property Rights of any Person. With respect to the Registered Intellectual Property included in the Owned Intellectual Property listed on Schedule 4.09(a), (i) all such Registered Intellectual Property is subsisting and, to Sellers’ Knowledge, valid and enforceable, (ii) a Seller is the owner of record, and (iii) all maintenance fees and filings that are required to be made to maintain such Registered Intellectual Property have been timely made (taking into account any applicable grace periods).
(b) Schedule 4.09(b) sets forth, or at the Closing will set forth, a true and complete list of all Intellectual Property Licenses. Except as set forth on Schedule 4.09(b), Sellers have provided Buyer with true and complete copies of all such Intellectual Property Licenses. All such Intellectual Property Licenses are, to Sellers’ To Seller’s Knowledge, validwithout giving effect to 35 US §271(e)(l) or any comparable Laws, binding and enforceable between the applicable (i) Seller and the other parties thereto, and Seller and, to Sellers’ Knowledge, such other parties are in compliance with the material terms and conditions of such Intellectual Property Licenses.
(c) To Sellers’ Knowledge, the conduct of the Business as currently conducted does not infringe, misappropriate, dilute or otherwise violate, and in the past three (3) years has not infringed, misappropriated or otherwise violatedviolated and is not infringing, misappropriating or otherwise violating (including with respect to the Exploitation by Seller of any Specified Program) any rights of any other Person (including any Intellectual Property Rights) with regard to the Specified Programs (including any Specified Program Antibodies) before the date hereof, or the possession or use of any Seller IP for the Specified Programs, and (ii) the Exploitation of any of the Specified Programs (including any Specified Program Antibodies) will not infringe, misappropriate or otherwise violate any rights of any Third Party. Sellers have not received other Person (including any notice that Sellers’ use of the Transferred Intellectual Property in the conduct of the Business as currently conducted infringesRights). To Seller’s Knowledge, misappropriates, dilutes no other Person or otherwise violates, or in the past three (3) years Persons has infringed, misappropriated or otherwise violatedviolated or is or are infringing, any Intellectual Property Rights of any Third Party. No Proceedings are pending and no written notices have been received by Sellers during misappropriating or otherwise violating the past three Seller IP.
(3c) years (or earlier, if presently not resolved), in each case, alleging any infringement, misappropriation or other violation by Sellers of the Intellectual Property rights of any Third Party. Except as set forth in Schedule 4.09(c), to Sellers’ Knowledge, during the past three (3Section 3.1.5(c) years (or earlier, if presently not resolved) no Person has infringed, misappropriated, diluted or otherwise violated any of the Owned Intellectual Property or Transferred TechnologySeller Disclosure Schedule, and no claims against Seller has made or asserted any claim, demand or notice against any person or entity alleging any such infringement, misappropriation, dilution or other violation. There is no Proceeding are pending or, to Sellers’ Seller’s Knowledge, threatened, challenging a Seller’s ownership threatened with regard to (i) any Specified Program; (ii) the Control or use of any Owned Seller IP; (iii) any actual or potential infringement, misappropriation or unauthorized use of Seller IP; (iv) any actual or potential infringement, misappropriation or unauthorized use of any Third Party’s Intellectual Property, Property Rights with respect to any Seller IP or its right to use any Transferred Intellectual Property, the Specified Programs; or challenging (v) the validity, registrability, validity or enforceability of any Registered Intellectual Property included in the Owned Intellectual PropertySeller IP.
(d) Sellers represent Schedule 2.1.2(b) sets forth a list of all Patents and Patent applications within the Seller IP that they areare registered or for which an application for registration has been filed under the authority of any Governmental Body, each as applicableincluding (i) the jurisdiction in which such item of the Seller IP has been registered or filed and the applicable registration, issuance, application, or serial number, and the registrant of record of each domain name as set forth filing date thereof and (ii) the current owner thereof. The Patent applications listed in Schedule 4.09(d2.1.2(b) that are owned by Seller are (collectivelyand such applications that are otherwise Controlled by Seller) pending and have not been abandoned and have been and continue to be timely prosecuted. All Patents and Patent applications owned by Seller that are related to the Specified Programs have been (and all such Patents and Patent applications otherwise Controlled by Seller have been) duly registered or filed with or issued by each appropriate Governmental Body in the jurisdiction indicated in Schedule 2.1.2(b), all related necessary affidavits of continuing use have been (or, with respect to licenses, have been) timely filed, and all related necessary maintenance fees (including, with respect to licenses) have been timely paid to continue all such rights in effect. As of the “Domain Names”)date hereof, Seller and its Affiliates have not taken any actions that, to Seller’s Knowledge, would render the Patents and Patent Applications within the Seller IP that are owned by Seller or its Affiliates invalid or unenforceable. None of the Patents listed in Schedule 2.1.2(b) that are owned by Seller have expired, been disclaimed, in whole or in part, been declared invalid, in whole or in part, or held to be unenforceable by any Governmental Body. None of the Patents or Patent applications listed in Schedule 2.1.2(b) that are owned by Seller are involved in or the subject of any material ongoing interferences, oppositions, reissues, reexaminations or other proceedings, including ex parte (other than ex parte proceedings in connection with such Patent applications) and post-grant proceedings, in the United States Patent and Trademark Office or in any foreign patent office or similar administrative agency. Each of the Patents and Patent applications listed in Schedule 2.1.2(b) that are owned by Xxxxxx identifies each and every inventor of the claims thereof as determined in good faith and in accordance with U.S. patent law pertaining to inventorship. Each inventor named on the Patents and Patent applications listed in Schedule 2.1.2(b) that are owned by Xxxxxx has executed and delivered an agreement assigning his, her or its entire right, title and interest in and to such Patent or Patent application, and the inventions embodied and claimed therein, to Seller, or in the case of licensed Patents, to the appropriate owners. To Seller’s Knowledge, no such inventor has any contractual or other obligation that would preclude any such assignment or otherwise conflict with the obligations of such inventor to Seller under such agreement with Seller.
(e) Sellers No current or former director, officer, employee, contractor or consultant of Seller owns any rights in or to any Seller IP. All current and former directors, officers, employees, contractors and consultants of Seller who contributed to the invention, conception, reduction to practice creation or development of any Seller IP did so (i) within the scope of his or her employment such that it constituted a work made for hire and all Seller IP arising therefrom became the exclusive property of Seller or (ii) pursuant to a valid and written agreement, assigned all of his or her rights in Seller IP to Seller. No current or former directors, officers, employees, contractors or consultants of Seller has made or, to Seller’s Knowledge, threatened to make any claim or challenge against Seller or any of its Affiliates in connection with their contribution to the discovery, creation or development of any Seller IP.
(f) Section 3.1.5(f) of the Seller Disclosure Schedule sets forth a complete and accurate list as of the Execution Date of all options, rights, licenses or interests of any kind relating to any Seller IP (i) granted to Seller by any other Person (other than software licenses for commercially available off the shelf software and except pursuant to employee proprietary inventions agreements (or similar employee agreements)), or (ii) granted by Seller to any other Person (including any obligations of such other Person to make any fixed or contingent payments, including royalty payments). Any in-licenses under clause (i) necessary to use the Seller IP is listed on Schedule 2.1.2(a). All material obligations for payment of monies currently due and payable by Seller and other material obligations in connection with such options, rights, licenses or interests have been satisfied in a timely manner.
(g) The execution and delivery of this Agreement and the Related Documents by Seller do not, and the consummation of the Acquisition and compliance by Seller with the provisions of this Agreement and any Related Document will not, conflict with, or result in any violation or breach of, or default (with or without notice or lapse of time, or both) under, or give rise to a right of, or result in, termination, cancellation or acceleration of any right or obligation or to the loss of a benefit under, or result in the creation of any Encumbrance in or upon or the transfer of, any Seller IP that is material to the Specified Programs.
(h) Seller and its Affiliates have taken commercially all reasonable measures to protect maintain the confidentiality of all Trade Secrets Intellectual Property Rights included in the Owned Intellectual Property Seller IP. The know-how and no material Trade Secrets trade secrets that are owned, used or held by Seller and its Affiliates in connection with the research, Development or manufacture of the Specified Programs have not been used, disclosed to or, to Seller’s Knowledge, discovered by Sellers to any Person except pursuant to written non-disclosure or license agreements or other obligations of confidentiality, andwhich have not, to Sellers’ Knowledge, there has not been a breach of any such agreement or obligation by any such Person.
(f) To Seller’s Knowledge, Sellers been breached. All of the sequences of the Specified Program Antibodies have obtained from each Person (including current been and former employees and independent contractors) who has created or developed for or on behalf of Sellers any Owned Intellectual Property that is material continue to be maintained as trade secrets, except to the Business a written, present and, valid assignment of such Intellectual Property to a Seller.
(g) To Sellers’ Knowledge, extent disclosed in the past three (3) years, there has been no material unauthorized access to or material unauthorized use of any confidential or proprietary information or data that is both in Sellers’ possession or control and material to the Business.
(h) With respect to any material Software included within the Transferred Intellectual Property, to Sellers’ Knowledge (i) such Software is free from any material bugs, viruses or other malicious code, (ii) the Source Code for such Software has not been disclosed to any Third Party, and (iii) such Software does not contain, derive from or link to any open source Software in a manner that requires the disclosure of any proprietary Source Code, limits the ability to charge fees, or grants any license to any Third Party to make derivative worksPatent applications set forth on Schedule 2.1.2(b).
(i) Neither the executionNo funding, delivery facilities, personnel or performance of this Agreement, nor the consummation of the transactions contemplated by the Ancillary Agreements will result in the material loss or impairment other resources of any Governmental Body or university or other academic institution or academic research center has been used in connection with the conception, invention, reduction to practice, development or other creation by or on behalf of the Owned Intellectual Property.
(j) All third-party code that is incorporated into the proprietary Software included in the Transferred Seller and its Affiliates of any Intellectual Property and that is critical Rights related to the operation of such Software is commercially available (each a “Critical IP License” and collectively “Critical IP Licenses”), and following Closing, Buyer will be able to procure a license for all such third-party code for (i) an aggregate amount during the one-year period immediately following the Closing that shall not exceed the amount reflected for such third-party code in the Unaudited Financial Statements by more than $200,000, and (ii) an aggregate amount during the twelve (12) months period following the initial one-year period immediately following Closing that shall not exceed the amount reflected for such third-party code in the Unaudited Financial Statements by more than $200,000; provided that any increases in license fees resulting from a volume increase, additional licenses or other change in the operation of Business post Closing shall not be breaches of this representationSeller IP.
(k) Buyer and Sellers agree that the representations and warranties included in this Section 4.09 shall be the sole and exclusive representations and warranties of Sellers with respect to Intellectual Property matters in this Agreement.
Appears in 2 contracts
Samples: Asset Purchase Agreement (Atreca, Inc.), Asset Purchase Agreement (Atreca, Inc.)
Intellectual Property. (a) Schedule 4.09(a) sets forth a true and complete list of all (i) Registered VERITAS owns, or has the right to use, sell or license such Intellectual Property included in Rights as are necessary or required for the Owned Intellectual Property, indicating for each item Conduct of the registration or application number, the registration or application date, and the applicable filing jurisdiction and VERITAS Business (ii) Owned such Intellectual Property that is not registered but that is material Rights being hereinafter collectively referred to as the operation "VERITAS IP RIGHTS") and such ownership or rights to use, sell or license are reasonably sufficient for the Conduct of the VERITAS Business. Sellers exclusively , except for any failure to own allor have the right to use, right, title and interest in all Owned Intellectual Property, free and clear of all Encumbrances (other than Permitted Encumbrances). Sellers are sell or license that would not bound by any outstanding judgment, injunction, order or decree or any contractual obligation materially restricting the use by have a Seller of the Owned Intellectual Property, or materially restricting the licensing thereof to any Person. With respect to the Registered Intellectual Property included in the Owned Intellectual Property listed Material Adverse Effect on Schedule 4.09(a), (i) all such Registered Intellectual Property is subsisting and, to Sellers’ Knowledge, valid and enforceable, (ii) a Seller is the owner of record, and (iii) all maintenance fees and filings that are required to be made to maintain such Registered Intellectual Property have been timely made (taking into account any applicable grace periods)VERITAS.
(b) Schedule 4.09(b) sets forth, or at the Closing will set forth, a true All VERITAS IP Rights are owned free and complete list clear of all Intellectual Property Licenses. Except as set forth on Schedule 4.09(b), Sellers have provided Buyer with true and complete copies of all such Intellectual Property Licenses. All such Intellectual Property Licenses are, to Sellers’ Knowledge, valid, binding and enforceable between the applicable Seller and the other parties thereto, and Seller and, to Sellers’ Knowledge, such other parties are in compliance with the material terms and conditions of such Intellectual Property Licensesany Encumbrances.
(c) To Sellers’ KnowledgeThe execution, delivery and performance of this Agreement and the conduct consummation of the Business as currently conducted does transactions contemplated hereby will not infringe, misappropriate, dilute or otherwise violate, and in the past three (3) years has not infringed, misappropriated or otherwise violated, any Intellectual Property rights constitute a material breach of any Third Party. Sellers have not received any notice that Sellers’ use of the Transferred Intellectual Property material instrument or material agreement in the conduct of the Business as currently conducted infringes, misappropriates, dilutes or otherwise violates, or in the past three (3) years has infringed, misappropriated or otherwise violated, any Intellectual Property Rights respect of any Third Party. No Proceedings are pending and no written notices have been received by Sellers during VERITAS IP Rights (the past three (3) years (or earlier, if presently not resolved"VERITAS IP RIGHTS AGREEMENTS"), in each case, alleging any infringement, misappropriation will not cause the forfeiture or other violation by Sellers termination or give rise to a right of the Intellectual Property rights forfeiture or termination of any Third Party. Except as set forth in Schedule 4.09(cVERITAS IP Right or materially impair the right of Newco to use, sell or license any VERITAS IP Right or portion thereof (except where such breach, forfeiture, termination or impairment would not have a Material Adverse Effect on VERITAS), to Sellers’ Knowledge, during the past three (3) years (or earlier, if presently not resolved) no Person has infringed, misappropriated, diluted or otherwise violated any of the Owned Intellectual Property or Transferred Technology, and no Seller has made or asserted any claim, demand or notice against any person or entity alleging any such infringement, misappropriation, dilution or other violation. There is no Proceeding pending or, to Sellers’ Knowledge, threatened, challenging a Seller’s ownership of any Owned Intellectual Property, or its right to use any Transferred Intellectual Property, or challenging the validity, registrability, or enforceability of any Registered Intellectual Property included in the Owned Intellectual Property.
(d) Sellers represent that they areThere are no royalties, each as applicablehonoraria, fees or other payments payable by any member of the registrant VERITAS Group to any person by reason of record the ownership, use, license, purchase, sale or disposition or acquisition of each domain name as set forth any of the VERITAS IP Rights in Schedule 4.09(d) (collectively, the “Domain Names”)an amount exceeding $100,000 in any one year.
(e) Sellers have taken commercially reasonable measures to protect the confidentiality of all Trade Secrets included in the Owned Intellectual Property and no material Trade Secrets have been disclosed by Sellers to any Person except pursuant to written non-disclosure agreements or other obligations of confidentiality, and, to Sellers’ To VERITAS' Knowledge, there has not been a breach no third party is infringing or misappropriating any of any such agreement or obligation by any such Personthe VERITAS IP Rights.
(f) To Seller’s VERITAS' Knowledge, Sellers have obtained from each Person (including current and former employees and independent contractorsi) who has created neither the manufacture, marketing, license, sale or developed for intended use of any product currently licensed or on behalf sold by VERITAS or any of Sellers the VERITAS Subsidiaries or currently under development by VERITAS or any Owned of the VERITAS Subsidiaries violates any license or agreement relating thereto or infringes any Intellectual Property Right of any other party, (ii) there is no pending or threatened claim or litigation contesting the validity, ownership or right to use, sell, license or dispose of any VERITAS IP Right and (iii) no third party has notified VERITAS that any VERITAS IP Right or the proposed use, sale, license or disposition thereof, conflicts or will conflict with the rights of any other party, nor is material to the Business there any basis therefor except for any violations, infringements, claims or litigation that would not have a written, present and, valid assignment of such Intellectual Property to a SellerMaterial Adverse Effect on VERITAS.
(g) VERITAS has taken reasonable and practicable steps designed to safeguard and maintain the secrecy and confidentiality of, and its proprietary rights in, all material trade secrets or other confidential information constituting VERITAS IP Rights. To Sellers’ VERITAS' Knowledge, no current or prior officers, employees or consultants of VERITAS claim an ownership interest in any VERITAS IP Rights as a result of having been involved in the past three (3) yearsdevelopment of such property while so employed, there has been no material unauthorized access or retained, or otherwise. To VERITAS' Knowledge, all development employees of the VERITAS IP Rights, and all other officers, employees and consultants of VERITAS have executed and delivered to VERITAS or material unauthorized use the VERITAS Subsidiary an agreement regarding the protection of any confidential or proprietary information and the assignment of all Intellectual Property Rights arising from the services performed for VERITAS or data that the VERITAS Subsidiary by such persons to his/her employer or principal which is both in Sellers’ possession VERITAS or control and material to a VERITAS Subsidiary, except where the Businessabsence of such agreement would not have a Material Adverse Effect on VERITAS.
(h) With Section 3.15(h) of the VERITAS Disclosure Letter sets forth and summarizes each of the VERITAS IP Rights as of October 5, 1998, the absence of which would have a Material Adverse Effect on VERITAS, that a third party owns and that VERITAS uses pursuant to a license, sublicense, agreement or other permission and describes and identifies such license, sublicense, agreement or other permission (excluding shrink wrap licenses to commercially available software sold at retail). Such license, sublicense, agreement or permission covering the item is legal, valid, binding, enforceable and in full force and effect and will continue to be legal, valid, binding, enforceable and in full force and effect on identical terms to Newco's benefit immediately following the Effective Time, except where it would not have a Material Adverse Effect on Newco, and such license, sublicense, agreement or permission does not restrict the ability to market any material VERITAS Product in any material jurisdiction or with respect to any material Software included within the Transferred Intellectual Property, to Sellers’ Knowledge (i) such Software is free from any material bugs, viruses market or other malicious code, (ii) the Source Code for such Software has not been disclosed to any Third Partyindustry, and (iii) VERITAS is not in breach or default of any such Software does not containlicense, derive from sublicense, agreement or link to any open source Software permission in a manner which would have a Material Adverse Effect on the VERITAS Business. No person other than VERITAS holds any license or other right to manufacture, modify, or create derivative works based on any of the VERITAS Products, other than OEM agreements that requires the disclosure would not have a Material Adverse Effect on VERITAS. No person (other than Newco) will be or become entitled to receive a copy of source code of any proprietary Source Code, limits software included among the ability to charge fees, or grants any license to any Third Party to make derivative works.
(i) Neither the execution, delivery or performance VERITAS Assets as a result of this Agreement, nor the consummation of the transactions any Ancillary Agreement or any other agreement or transaction contemplated by the Ancillary Agreements will result in the material loss this Agreement. To VERITAS' Knowledge, no person holds or impairment has been granted access to any copy of source code of any of software included among the Owned Intellectual Property.
(j) All third-party code that is incorporated into the proprietary Software included VERITAS Assets unless such person has agreed in the Transferred Intellectual Property and that is critical to the operation of such Software is commercially available (each a “Critical IP License” and collectively “Critical IP Licenses”), and following Closing, Buyer will be able to procure a license for all such third-party code for writing (i) an aggregate amount during the one-year period immediately following the Closing that shall not exceed the amount reflected for to hold such third-party source code in confidence and take reasonable steps to preserve the Unaudited Financial Statements by more than $200,000, secrecy of such source code; and (ii) an aggregate amount during not to use such source code for any purpose except (A) to support such person's internal use of such source code or (B) to modify such source code solely for the twelve (12) months period following the initial one-year period immediately following Closing that shall purpose of internally using such modifications. VERITAS has not exceed the amount reflected for such third-party code in the Unaudited Financial Statements by more than $200,000; provided that knowingly taken or knowingly failed to take any increases in license fees resulting from a volume increaseaction that, additional licenses directly or other change in the operation of Business post Closing shall not be breaches of this representation.
(k) Buyer and Sellers agree that the representations and warranties included in this Section 4.09 shall be the sole and exclusive representations and warranties of Sellers with respect to indirectly, has caused any Intellectual Property matters Rights in this Agreementsource code of material VERITAS Products to enter the public domain such as would have a Material Adverse Effect on VERITAS.
Appears in 2 contracts
Samples: Agreement and Plan of Reorganization (Seagate Technology Inc), Agreement and Plan of Reorganization (Seagate Technology Inc)
Intellectual Property. (a) Schedule 4.09(a) sets forth a true and complete list Neither Buyer nor any of all (i) Registered Intellectual Property included in the Owned Intellectual Property, indicating for each item the registration or application number, the registration or application date, and the applicable filing jurisdiction and (ii) Owned Intellectual Property that is not registered but that is material to the operation of the Business. Sellers exclusively own all, its Subsidiaries owns any right, title and or interest in all Owned Intellectual Property, free and clear of all Encumbrances or to any Software (other than Permitted Encumbrances). Sellers are not bound by any outstanding judgment, injunction, order or decree or any contractual obligation materially restricting the use by a Seller of the Owned Intellectual Property, or materially restricting the licensing thereof to any Person. With respect to the Registered Intellectual Property included in the Owned Intellectual Property listed on Schedule 4.09(aas described below), Patents, Copyrights or Marks (i) all such Registered Intellectual Property is subsisting and, to Sellers’ Knowledge, valid and enforceable, other than the names “Xx Xxxxxx” (ii) a Seller is the owner of record, and (iii) all maintenance fees and filings that are required to be made to maintain such Registered Intellectual Property have been timely made (taking into account any applicable grace periods“Buyer Marks”)).
(b) The Buyer Disclosure Schedule 4.09(b) sets forthlists all In-Bound Licenses pursuant to which a third party authorizes Buyer or any of its Subsidiaries to use, practice any rights under, or at the Closing will set forthgrant sublicenses with respect to, a true and complete list of all any Intellectual Property Licenses. Except as set forth on Schedule 4.09(b)owned by such third party other than In-Bound Licenses that consist solely of “shrink-wrap” and similar commercially available end-user licenses, Sellers have provided Buyer with true and complete copies including the incorporation of all any such Intellectual Property Licenses. All such Intellectual Property Licenses are, to Sellersinto the Company’s or any of its Subsidiaries’ Knowledge, valid, binding and enforceable between the applicable Seller and the other parties thereto, and Seller products and, with respect to Sellers’ Knowledgeeach In-Bound License, such other parties are in compliance with whether the material terms and conditions of such Intellectual Property LicensesIn-Bound License is exclusive or non-exclusive.
(c) There are no Out-Bound Licenses pursuant to which Buyer or any of its Subsidiaries authorizes a third party to use, practice any rights under, or grant sublicenses with respect to, any Buyer Owned Intellectual Property or pursuant to which Buyer or any of its Subsidiaries grants rights to use or practice any rights under any Intellectual Property owned by a third party and, with respect to each Out-Bound License, whether the Out-Bound License is exclusive or non-exclusive.
(d) Buyer and/or one or more of its Subsidiaries exclusively own the entire right, interest and title to all Intellectual Property that is used in or necessary for the businesses of Buyer and its Subsidiaries as they are currently conducted or proposed to be conducted, free and clear of Liens, or (ii) otherwise rightfully use or otherwise enjoy such Intellectual Property pursuant to the terms of a valid and enforceable In-Bound License that is listed in the Buyer Disclosure Schedule or that is a “shrink-wrap” or similar commercially available end-user license. The Buyer Marks, together with the Proprietary Information and Buyer’s and its Subsidiaries’ rights under the In-Bound Licenses listed in the Buyer Disclosure Schedule or that are “shrink-wrap” or similar commercially available end-user licenses (collectively, the “Buyer Intellectual Property”), constitutes all the Intellectual Property used in or necessary for the operation of Buyer’s and its Subsidiaries’ businesses as they are currently conducted and as proposed to be conducted.
(e) Buyer has no Knowledge of any challenges (or any basis therefor) with respect to the validity or enforceability of any Buyer Intellectual Property. Neither Buyer nor any of its Subsidiaries has taken any action or failed to take any action that could reasonably be expected to result in the abandonment, cancellation, forfeiture, relinquishment, invalidation, waiver or unenforceability of any Buyer Intellectual Property.
(f) To Sellers’ Buyer’s Knowledge, the conduct neither Buyer nor any of the Business its Subsidiaries, by conducting its business as currently conducted does not infringeor as proposed to be conducted, misappropriatehas infringed or infringes upon, dilute or otherwise violate, and in the past three (3) years has not infringed, misappropriated unlawfully used or otherwise violated, any Intellectual Property rights of any Third Party. Sellers have not received any notice that Sellers’ use of the Transferred Intellectual Property in the conduct of the Business as currently conducted infringes, misappropriates, dilutes or otherwise violates, or in the past three (3) years has infringed, misappropriated or otherwise violateduses, any Intellectual Property Rights of a third party. None of Buyer nor any Third Partyof its Subsidiaries has received any communication alleging that Buyer or any of its Subsidiaries or any of their respective products, services, activities or operations infringe upon or otherwise unlawfully use any Intellectual Property Rights of a third party nor, to Buyer’s Knowledge, is there any basis therefor. No Proceedings are pending and no written notices have Action has been received by Sellers during the past three (3) years (or earlierinstituted, if presently not resolved), in each case, alleging any infringement, misappropriation or other violation by Sellers of the Intellectual Property rights of any Third Party. Except as set forth in Schedule 4.09(c), to Sellers’ Knowledge, during the past three (3) years (or earlier, if presently not resolved) no Person has infringed, misappropriated, diluted or otherwise violated any of the Owned Intellectual Property or Transferred Technology, and no Seller has made or asserted any claim, demand or notice against any person or entity alleging any such infringement, misappropriation, dilution or other violation. There is no Proceeding pending or, to Sellers’ Buyer’s Knowledge, threatened, challenging a Seller’s ownership of relating to any Owned Intellectual Property, or its right to use any Transferred Intellectual Property, or challenging the validity, registrability, or enforceability of any Registered Intellectual Property included in the Owned formerly or currently used by Buyer or any of its Subsidiaries and none of Buyer Intellectual Property is subject to any outstanding Order. To Buyer’s Knowledge, no Person has infringed or is infringing any Intellectual Property Rights of Buyer or any of its Subsidiaries or has otherwise misappropriated or is otherwise misappropriating any Buyer Intellectual Property.
(dg) Sellers represent that they are, each as applicableWith respect to Buyer’s or any of its Subsidiaries’ Proprietary Information, the registrant documentation relating thereto is current, accurate and sufficient in detail and content to identify and explain it and to allow its full and proper use without reliance on the special knowledge or memory of record of each domain name as set forth in Schedule 4.09(d) (collectively, the “Domain Names”).
(e) Sellers others. Buyer and its Subsidiaries have taken commercially reasonable measures steps to protect and preserve the confidentiality of all Trade Secrets included in Proprietary Information owned by Buyer or any of its Subsidiaries that is not covered by an issued Patent. Without limiting the Owned Intellectual Property generality of the foregoing, the Proprietary Information of Buyer and no material Trade Secrets have been disclosed its Subsidiaries (other than Proprietary Information that is covered by Sellers to any Person except pursuant to written non-disclosure agreements or other obligations an issued Patent) is not part of confidentiality, and, to Sellers’ Knowledge, there the public knowledge and has not been a breach used or divulged for the benefit of any Person other than Buyer and its Subsidiaries. Any receipt or use by, or disclosure to, a third party of Proprietary Information owned by Buyer or any of its Subsidiaries has been pursuant to the terms of binding written confidentiality agreement between Buyer or such agreement or obligation by any Subsidiary and such Person.
third party (f) To Seller“Buyer Nondisclosure Agreements”). Buyer and its Subsidiaries are, and to Buyer’s Knowledge, Sellers have obtained from each Person (including current and former employees and independent contractors) who has created or developed for or on behalf of Sellers any Owned Intellectual Property that is material to the Business a written, present and, valid assignment of such Intellectual Property to a Seller.
(g) To Sellers’ Knowledgeall other parties thereto are, in compliance with the past three (3) yearsprovisions of the Buyer Nondisclosure Agreements. Buyer and its Subsidiaries are in compliance with the terms of all Contracts pursuant to which a third party has disclosed to, there has been no material unauthorized access or authorized Buyer or any of its Subsidiaries to or material unauthorized use of any confidential or proprietary information or data that is both in Sellers’ possession or control and material to the Businessuse, Proprietary Information owned by such third party.
(h) With respect to any material Software included within the Transferred Intellectual Property, to Sellers’ Knowledge (i) such Software is free from any material bugs, viruses or other malicious code, (ii) the Source Code for such Software has not been disclosed to any Third PartyThe execution and delivery of this Agreement by Buyer does not, and (iii) such Software does not contain, derive from or link to any open source Software in a manner that requires the disclosure of any proprietary Source Code, limits the ability to charge fees, or grants any license to any Third Party to make derivative works.
(i) Neither the execution, delivery or performance of this Agreement, nor the consummation of the transactions contemplated by Acquisition (in each case, with or without the Ancillary Agreements giving of notice or lapse of time, or both), will not, directly or indirectly, result in the material loss or impairment of any Buyer Intellectual Property, or give rise to any right of any third party to terminate or reprice or otherwise renegotiate any of Buyer’s or any of its Subsidiaries’ rights to own any of its Intellectual Property or their respective rights under any In-Bound License, nor require the Owned consent of any Governmental Entity or other third party in respect of any such Intellectual Property.
(j) All third-party code that is incorporated into the proprietary Software included in the Transferred Intellectual Property and that is critical to the operation of such Software is commercially available (each a “Critical IP License” and collectively “Critical IP Licenses”), and following Closing, Buyer will be able to procure a license for all such third-party code for (i) an aggregate amount during the one-year period immediately following the Closing that shall not exceed the amount reflected for such third-party code in the Unaudited Financial Statements by more than $200,000, and (ii) an aggregate amount during the twelve (12) months period following the initial one-year period immediately following Closing that shall not exceed the amount reflected for such third-party code in the Unaudited Financial Statements by more than $200,000; provided that any increases in license fees resulting from a volume increase, additional licenses or other change in the operation of Business post Closing shall not be breaches of this representation.
(k) Buyer and Sellers agree that the representations and warranties included in this Section 4.09 shall be the sole and exclusive representations and warranties of Sellers with respect to Intellectual Property matters in this Agreement.
Appears in 2 contracts
Samples: Stock Purchase Agreement (La Cortez Energy, Inc.), Stock Purchase Agreement (Avante Petroleum S.A.)
Intellectual Property. (ai) Schedule 4.09(a4.2(j) sets forth of the Disclosure Letter includes complete and accurate particulars of all registrations and applications for registration of the Intellectual Property owned by Corporation. Schedule 4.2(j) of the Disclosure Letter also includes a true and complete list of all (i) Registered Intellectual Property included licenses granted to the Corporation in connection with the Owned Intellectual Property, indicating for each item conduct of the registration or application number, the registration or application date, and the applicable filing jurisdiction and Business.
(ii) Owned Intellectual Property that is not registered but that is material to the operation Except as set forth in Schedule 4.2(j) of the Business. Sellers exclusively own allDisclosure Letter, Corporation owns all right, title and interest in all Owned and to the Intellectual PropertyProperty owned by Corporation, free and clear of all Encumbrances (other than Permitted Encumbrances)Liens. Sellers are not bound by any outstanding judgment, injunction, order or decree or any contractual obligation materially restricting the use by a Seller of the Owned Intellectual Property, or materially restricting the licensing thereof to any Person. With respect Corporation has made available to the Registered Intellectual Property included in the Owned Intellectual Property listed on Schedule 4.09(a), (i) all such Registered Intellectual Property is subsisting and, to Sellers’ Knowledge, valid and enforceable, (ii) a Seller is the owner of record, and (iii) all maintenance fees and filings that are required to be made to maintain such Registered Intellectual Property have been timely made (taking into account any applicable grace periods).
(b) Schedule 4.09(b) sets forth, or at the Closing will set forth, a true and complete list of all Intellectual Property Licenses. Except as set forth on Schedule 4.09(b), Sellers have provided Buyer with true Purchaser Parties accurate and complete copies of all such the Contracts governing any licensed Intellectual Property Licenses. All such Intellectual Property Licenses are, to Sellers’ Knowledge, valid, binding and enforceable between the applicable Seller and the other parties theretoCorporation has not, and Seller andto the knowledge of Corporation, no other party thereto has, breached any of the Contracts (including, for certainty, any Public Software Contracts) governing licensed Intellectual Property. Neither this Agreement, nor the transaction contemplated hereby, will cause the termination, or cause any Person to Sellers’ Knowledgehave a right of termination, such other parties are in compliance with the material terms and conditions of such any Contract governing licensed Intellectual Property LicensesProperty.
(ciii) To Sellers’ Knowledgethe knowledge of the Silanis Companies, the conduct operation of the Business as currently conducted does not infringe, misappropriate, dilute or otherwise violate, and in the past three (3) years has not infringed, misappropriated or otherwise violated, any Intellectual Property rights of any Third Party. Sellers have not received any notice that Sellers’ use of the Transferred Intellectual Property in the conduct of the Business as currently conducted infringes, misappropriates, dilutes or otherwise violates, or in the past three (3) years has infringed, misappropriated or otherwise violated, any Intellectual Property Rights of any Third Party. No Proceedings are pending and no written notices have been received by Sellers during the past three (3) years (or earlier, if presently not resolved), in each case, alleging any infringement, misappropriation or other violation by Sellers of infringe upon the Intellectual Property rights of any Third PartyPerson. Except as set forth in Schedule 4.09(c)4.2(j) of the Disclosure Letter, no written claims have been asserted by any Person alleging that the conduct of the Business, including the use of the Intellectual Property owned by, licensed to Sellers’ Knowledgeor used by Corporation, during the past three (3) years (or earlier, if presently not resolved) no Person has infringed, misappropriated, diluted or otherwise violated infringes upon any of the Owned their Intellectual Property rights.
(iv) The Intellectual Property owned by or Transferred Technology, and no Seller licensed to Corporation or which Corporation otherwise has made or asserted any claim, demand or notice against any person or entity alleging any such infringement, misappropriation, dilution or other violation. There is no Proceeding pending or, to Sellers’ Knowledge, threatened, challenging a Seller’s ownership of any Owned Intellectual Property, or its the right to use any Transferred Intellectual Property, or challenging the validity, registrability, or enforceability of any Registered constitutes all Intellectual Property included in necessary for the Owned Intellectual Property.
(d) Sellers represent that they are, each conduct of the Business as applicable, the registrant of record of each domain name presently conducted. Except as set forth in Schedule 4.09(d4.2(j) (collectivelyof the Disclosure Letter, following Closing, Corporation will be entitled to continue to use, practice and exercise rights in, all of the “Domain Names”)Intellectual Property owned by, licensed to and used by Corporation, to the same extent and in the same manner as used, practiced and exercised by Corporation prior to Closing without financial obligation to any Person.
(ev) Sellers have Except as set forth in Schedule 4.2(j) of the Disclosure Letter, to the knowledge of the Silanis Companies, no Person is currently infringing any of the Intellectual Property owned by, licensed to or used by Corporation.
(vi) Corporation has taken all commercially reasonable measures steps necessary to protect and maintain the confidentiality of all Trade Secrets material trade secrets and confidential business information included in the Owned Intellectual Property and owned by or licensed to Corporation. No current or former employee, consultant or independent contractor of any Silanis Company has any right, title or interest, directly or indirectly, in whole or in part, in any such Intellectual Property. To the knowledge of the Silanis Companies, no current or former employee, consultant or independent contractor of Corporation is in default or breach of any material Trade Secrets have been disclosed by Sellers to term of any Person except pursuant to written employment agreement, consulting agreement, non-disclosure agreements or other obligations of confidentialityagreement, and, to Sellers’ Knowledge, there has not been a breach of any such agreement or obligation by any such Person.
(f) To Seller’s Knowledge, Sellers have obtained from each Person (including current and former employees and independent contractors) who has created or developed for or on behalf of Sellers any Owned Intellectual Property that is material to the Business a written, present and, valid assignment of such Intellectual Property to a Seller.
(g) To Sellers’ Knowledge, in the past three (3) years, there has been no material unauthorized access to or material unauthorized use of any confidential or proprietary information or data that is both in Sellers’ possession or control and material to the Business.
(h) With respect to any material Software included within the Transferred Intellectual Property, to Sellers’ Knowledge (i) such Software is free from any material bugs, viruses or other malicious code, (ii) the Source Code for such Software has not been disclosed to any Third Party, and (iii) such Software does not contain, derive from or link to any open source Software in a manner that requires the disclosure of any proprietary Source Code, limits the ability to charge feesinvention agreement, or grants any license to any Third Party to make derivative workssimilar agreement.
(i) Neither the execution, delivery or performance of this Agreement, nor the consummation of the transactions contemplated by the Ancillary Agreements will result in the material loss or impairment of any of the Owned Intellectual Property.
(j) All third-party code that is incorporated into the proprietary Software included in the Transferred Intellectual Property and that is critical to the operation of such Software is commercially available (each a “Critical IP License” and collectively “Critical IP Licenses”), and following Closing, Buyer will be able to procure a license for all such third-party code for (i) an aggregate amount during the one-year period immediately following the Closing that shall not exceed the amount reflected for such third-party code in the Unaudited Financial Statements by more than $200,000, and (ii) an aggregate amount during the twelve (12) months period following the initial one-year period immediately following Closing that shall not exceed the amount reflected for such third-party code in the Unaudited Financial Statements by more than $200,000; provided that any increases in license fees resulting from a volume increase, additional licenses or other change in the operation of Business post Closing shall not be breaches of this representation.
(k) Buyer and Sellers agree that the representations and warranties included in this Section 4.09 shall be the sole and exclusive representations and warranties of Sellers with respect to Intellectual Property matters in this Agreement.
Appears in 2 contracts
Samples: Arrangement Agreement, Arrangement Agreement (Vasco Data Security International Inc)
Intellectual Property. (a) Section 4.16(a)(ii) of the Disclosure Schedule 4.09(a) sets forth a true and complete list of lists all (i) Seller Registered Intellectual Property included and Seller is the record owner thereof.
(b) The operation of the Business as currently conducted, including, without limitation, the design, development, use, import, production, sale, offer for sale or other disposition of the products, technology and services of Seller in the Owned Business, and the use of the Seller Intellectual Property or Intellectual Property Licenses as currently used in the Business, does not infringe, misappropriate or otherwise violate the Intellectual Property of any other Person in any jurisdiction to any material extent. Except as set forth on Section 4.10 of the Disclosure Schedule, there is no Action of any nature, currently pending, settled or, to the Knowledge of Seller, threatened, alleging unauthorized use, disclosure, infringement, misappropriation or other violation by Seller in the conduct of the Business of any Intellectual Property of any other Person. If such Action has been resolved, the outcome, individually or in the aggregate, has not had and will not have a Material Adverse Effect.
(c) Seller has not entered into any arrangements or agreements granting exclusive rights in the Seller Intellectual Property to any Person. To the Knowledge of Seller, there is no material unauthorized use of any of the Seller Intellectual Property. Except as set forth in Section 4.10 of the Disclosure Schedule, there are no pending, settled, or to the Knowledge of Seller, threatened Actions of any nature affecting the Seller Intellectual Property or Intellectual Property Licenses. Seller has not brought any Action or asserted any claim against any Person or entity for interfering with, infringing upon, misappropriating or otherwise coming into conflict with any of the Seller Intellectual Property, indicating for each item the registration or application number, the registration or application date, and the applicable filing jurisdiction and (ii) Owned no Seller Intellectual Property that is not registered but that is material subject to the operation of the Business. Sellers any Governmental Order.
(d) Seller owns exclusively own all, all right, title and interest in all Owned and to the Seller Intellectual Property, free and clear of all Encumbrances (other than Permitted Encumbrances). Sellers are not bound by any outstanding judgment, injunction, order or decree or any contractual obligation materially restricting the use by a Seller of the Owned Intellectual Property, or materially restricting the licensing thereof to any Person. With respect ) and is in compliance in all material respects with all legal requirements applicable to the Registered Seller Intellectual Property included in the Owned Intellectual Property listed on Schedule 4.09(a)and Seller’s ownership, (i) all such Registered Intellectual Property is subsisting and, to Sellers’ Knowledge, valid maintenance and enforceable, (ii) a Seller is the owner of record, and (iii) all maintenance fees and filings that are required to be made to maintain such Registered Intellectual Property have been timely made (taking into account any applicable grace periods)use thereof.
(be) Section 4.16(e) of the Disclosure Schedule 4.09(b) sets forth, or at the Closing will set forth, a true and complete list of lists all Intellectual Property Licenses. Except as set forth on Schedule 4.09(b), Sellers have provided Buyer with true and complete copies of all such material Intellectual Property Licenses. All such Intellectual Property Licenses are, to Sellers’ Knowledge, are valid, binding binding, subsisting and enforceable between Seller and, to the applicable Seller and Knowledge of Seller, the other parties thereto, and Seller is and, to Sellers’ Knowledgethe Knowledge of Seller, such other parties are are, in compliance compliance, in all material respects, with the material terms and conditions of such Intellectual Property Licenses.
(cf) To Sellers’ KnowledgeSeller is not in material breach of, the conduct of the Business as currently conducted does not infringeor involved in any material dispute with respect to, misappropriate, dilute or otherwise violate, and in the past three (3) years has not infringed, misappropriated or otherwise violated, any agreement relating to any Intellectual Property rights used exclusively in the Business of Seller or any Third Party. Sellers have not received any notice that Sellers’ use other Person, nor will Seller be in such breach as a result of the Transferred Intellectual Property in the conduct of the Business as currently conducted infringes, misappropriates, dilutes or otherwise violates, or in the past three (3) years has infringed, misappropriated or otherwise violated, any Intellectual Property Rights of any Third Party. No Proceedings are pending execution and no written notices have been received by Sellers during the past three (3) years (or earlier, if presently not resolved), in each case, alleging any infringement, misappropriation or other violation by Sellers of the Intellectual Property rights of any Third Party. Except as set forth in Schedule 4.09(c), to Sellers’ Knowledge, during the past three (3) years (or earlier, if presently not resolved) no Person has infringed, misappropriated, diluted or otherwise violated any of the Owned Intellectual Property or Transferred Technology, and no Seller has made or asserted any claim, demand or notice against any person or entity alleging any such infringement, misappropriation, dilution or other violation. There is no Proceeding pending or, to Sellers’ Knowledge, threatened, challenging a Seller’s ownership of any Owned Intellectual Property, or its right to use any Transferred Intellectual Property, or challenging the validity, registrability, or enforceability of any Registered Intellectual Property included in the Owned Intellectual Property.
(d) Sellers represent that they are, each as applicable, the registrant of record of each domain name as set forth in Schedule 4.09(d) (collectively, the “Domain Names”).
(e) Sellers have taken commercially reasonable measures to protect the confidentiality of all Trade Secrets included in the Owned Intellectual Property and no material Trade Secrets have been disclosed by Sellers to any Person except pursuant to written non-disclosure agreements or other obligations of confidentiality, and, to Sellers’ Knowledge, there has not been a breach of any such agreement or obligation by any such Person.
(f) To Seller’s Knowledge, Sellers have obtained from each Person (including current and former employees and independent contractors) who has created or developed for or on behalf of Sellers any Owned Intellectual Property that is material to the Business a written, present and, valid assignment of such Intellectual Property to a Seller.
(g) To Sellers’ Knowledge, in the past three (3) years, there has been no material unauthorized access to or material unauthorized use of any confidential or proprietary information or data that is both in Sellers’ possession or control and material to the Business.
(h) With respect to any material Software included within the Transferred Intellectual Property, to Sellers’ Knowledge (i) such Software is free from any material bugs, viruses or other malicious code, (ii) the Source Code for such Software has not been disclosed to any Third Party, and (iii) such Software does not contain, derive from or link to any open source Software in a manner that requires the disclosure of any proprietary Source Code, limits the ability to charge fees, or grants any license to any Third Party to make derivative works.
(i) Neither the execution, delivery or performance of this Agreement, nor the consummation of the transactions contemplated by the Ancillary Agreements will result in the material loss or impairment of any of the Owned Intellectual Property.
(j) All third-party code that is incorporated into the proprietary Software included in the Transferred Intellectual Property and that is critical to the operation of such Software is commercially available (each a “Critical IP License” and collectively “Critical IP Licenses”), and following Closing, Buyer will be able to procure a license for all such third-party code for (i) an aggregate amount during the one-year period immediately following the Closing that shall not exceed the amount reflected for such third-party code in the Unaudited Financial Statements by more than $200,000, and (ii) an aggregate amount during the twelve (12) months period following the initial one-year period immediately following Closing that shall not exceed the amount reflected for such third-party code in the Unaudited Financial Statements by more than $200,000; provided that any increases in license fees resulting from a volume increase, additional licenses or other change in the operation of Business post Closing shall not be breaches of this representation.
(k) Buyer and Sellers agree that the representations and warranties included in this Section 4.09 shall be the sole and exclusive representations and warranties of Sellers with respect to Intellectual Property matters in this Agreement.
Appears in 2 contracts
Samples: Asset Purchase Agreement (CF Industries Holdings, Inc.), Asset Purchase Agreement (Mosaic Co)
Intellectual Property. (a) Schedule 4.09(aMillennium and its Subsidiaries exclusively own, or are licensed, sublicensed or otherwise possess legally enforceable rights to use, pursuant to the licenses, agreements and contracts listed in Section 4.10(a) sets forth a true and complete list of the Millennium Disclosure Schedule, all (i) Registered Intellectual Property included Rights that are now used or planned to be used in the Owned Intellectual Propertymanufacture, indicating use, sale, offer for each item sale or importation of, or which are necessary to make, have made, use, sell, offer to sell or import the registration or application numberproduct candidates of Millennium and its Subsidiaries that are undergoing Phase II human clinical trials as of the date of this Agreement (the "Phase II Products") in the United States, the registration or application dateEuropean Union and the countries therein, and the applicable filing jurisdiction and Japan (ii) Owned all such Intellectual Property that is not registered but that is material to Rights described in this sentence constituting the operation of the Business. Sellers exclusively own all, right, title and interest in all Owned Intellectual Property, free and clear of all Encumbrances (other than Permitted Encumbrances). Sellers are not bound by any outstanding judgment, injunction, order or decree or any contractual obligation materially restricting the use by a Seller of the Owned Intellectual Property, or materially restricting the licensing thereof to any Person. With respect to the Registered "Millennium Intellectual Property included in the Owned Intellectual Property listed on Schedule 4.09(a), (i) all such Registered Intellectual Property is subsisting and, to Sellers’ Knowledge, valid and enforceable, (ii) a Seller is the owner of record, and (iii) all maintenance fees and filings that are required to be made to maintain such Registered Intellectual Property have been timely made (taking into account any applicable grace periodsRights").
(b) Schedule 4.09(b) sets forthThe execution and delivery of this Agreement and consummation of the Merger will not result in the breach of, or at create on behalf of any third party the Closing will set forthright to terminate or modify, any license, sublicense or other agreement to which Millennium or any of its Subsidiaries is a true party and complete list of all which relates to the Millennium Intellectual Property Licenses. Except Rights, where the breach, termination or modification, individually or in the aggregate with every other such breach, termination or modification, would be material to Millennium and its Subsidiaries taken as set forth on Schedule 4.09(b), Sellers have provided Buyer with true and complete copies of all such Intellectual Property Licenses. All such Intellectual Property Licenses are, to Sellers’ Knowledge, valid, binding and enforceable between the applicable Seller and the other parties thereto, and Seller and, to Sellers’ Knowledge, such other parties are in compliance with the material terms and conditions of such Intellectual Property Licensesa whole.
(c) To Sellers’ Knowledgethe knowledge of Millennium, (i) all patents, including all patent term extensions and supplementary protection certificates, registered trademarks, registered service marks and copyrights included in the conduct Millennium Intellectual Property Rights under which Millennium or any of its Subsidiaries holds any rights and which are material to the business of Millennium and its Subsidiaries, taken as a whole, are valid and subsisting, and (ii) except as indicated on the Millennium Disclosure Schedule as being abandoned or withdrawn, all applications for such patents, trademarks, service marks and copyrights are subsisting and were filed in good faith. To the knowledge of Millennium, no other person or entity is infringing, violating or misappropriating any of the Business as Millennium Intellectual Property Rights.
(d) To the knowledge of Millennium, none of the activities or business previously or currently conducted does not infringe, misappropriate, dilute by Millennium or otherwise violate, and in any of its Subsidiaries relating to the past three (3) years has not infringed, misappropriated Phase II Products or otherwise violated, currently planned to be conducted by Millennium or any Intellectual Property rights of any Third Party. Sellers have not received any notice that Sellers’ use of its Subsidiaries relating to the Transferred Intellectual Property in the conduct of the Business as currently conducted Phase II Products infringes, misappropriatesviolates or constitutes a misappropriation, dilutes or otherwise violatesin any material way, or in the past three (3) years has infringed, misappropriated or otherwise violated, of any Intellectual Property Rights of any Third Partyother person or entity. No Proceedings are pending and no written notices have been received by Sellers during the past three (3) years (or earlierSince January 1, if presently not resolved)1995, in each case, alleging any infringement, misappropriation or other violation by Sellers of the Intellectual Property rights of any Third Party. Except as set forth in Schedule 4.09(c), to Sellers’ Knowledge, during the past three (3) years (or earlier, if presently not resolved) no Person has infringed, misappropriated, diluted or otherwise violated neither Millennium nor any of the Owned Intellectual Property or Transferred Technologyits Subsidiaries has received any written complaint, and no Seller has made or asserted any claim, demand claim or notice against any person or entity alleging any such infringement, violation or misappropriation, dilution present or other violation. There is no Proceeding pending or, to Sellers’ Knowledge, threatened, challenging a Seller’s ownership of any Owned Intellectual Property, or its right to use any Transferred Intellectual Property, or challenging the validity, registrability, or enforceability of any Registered Intellectual Property included in the Owned Intellectual Property.
(d) Sellers represent that they are, each as applicable, the registrant of record of each domain name as set forth in Schedule 4.09(d) (collectively, the “Domain Names”)future.
(e) Sellers Millennium and its Subsidiaries have taken commercially reasonable measures and precautions to protect and maintain the confidentiality confidentiality, secrecy and value of all Trade Secrets included in the Owned Millennium Intellectual Property and Rights. To the knowledge of Millennium, no material Trade Secrets have been disclosed by Sellers current or former employee, officer, director, stockholder, consultant or independent contractor has any right, claim or interest in or with respect to any Person except pursuant to written non-disclosure agreements or other obligations of confidentiality, and, to Sellers’ Knowledge, there has not been a breach of any such agreement or obligation by any such PersonMillennium Intellectual Property Rights.
(f) To Seller’s Knowledge, Sellers have obtained from each Person (including current and former employees and independent contractors) who has created or developed for or on behalf Neither Millennium nor any of Sellers any Owned Intellectual Property that its Subsidiaries is material to the Business a written, present and, valid assignment of such Intellectual Property to a Seller.
(g) To Sellers’ Knowledge, in the past three (3) years, there has been no material unauthorized access to or material unauthorized use of any confidential or proprietary information or data that is both in Sellers’ possession or control and material to the Business.
(h) With respect party to any material Software included within agreement under which, following the Transferred Intellectual Property, to Sellers’ Knowledge (i) such Software is free from any material bugs, viruses or other malicious code, (ii) the Source Code for such Software has not been disclosed to any Third Party, and (iii) such Software does not contain, derive from or link to any open source Software in a manner that requires the disclosure of any proprietary Source Code, limits the ability to charge fees, or grants any license to any Third Party to make derivative works.
(i) Neither the execution, delivery or performance of this Agreement, nor the consummation of the transactions contemplated by the Ancillary Agreements will result in the material loss or impairment of any of the Owned Intellectual Property.
(j) All third-party code that is incorporated into the proprietary Software included in the Transferred Intellectual Property and that is critical to the operation of such Software is commercially available (each a “Critical IP License” and collectively “Critical IP Licenses”), and following Closing, Buyer will a third party would be able entitled to procure receive a license for all such third-party code for (i) an aggregate amount during the one-year period immediately following the Closing that shall not exceed the amount reflected for such third-party code or any other right in the Unaudited Financial Statements by more than $200,000, and (ii) an aggregate amount during the twelve (12) months period following the initial one-year period immediately following Closing that shall not exceed the amount reflected for such third-party code in the Unaudited Financial Statements by more than $200,000; provided that any increases in license fees resulting from a volume increase, additional licenses or other change in the operation of Business post Closing shall not be breaches of this representation.
(k) Buyer and Sellers agree that the representations and warranties included in this Section 4.09 shall be the sole and exclusive representations and warranties of Sellers with respect to Intellectual Property matters Rights of COR or any of COR's Affiliates (other than Millennium and its Subsidiaries) or which, following the Closing, would restrict or limit the business or operations of COR or any of its Affiliates (other than Millennium and its Subsidiaries), other than any license, right, restriction or limitation which would not, individually or in this Agreementthe aggregate, have a Millennium Material Adverse Effect.
Appears in 2 contracts
Samples: Merger Agreement (Cor Therapeutics Inc / De), Merger Agreement (Millennium Pharmaceuticals Inc)
Intellectual Property. (a) Section 3.15(a)(i) of the Disclosure Schedule 4.09(acontains a true and complete list of each of the registrations and applications for registrations of the Owned Intellectual Property Rights. Section 3.15(a)(ii) sets forth of the Disclosure Schedule contains a true and complete list of all material agreements (whether written or otherwise, including license agreements, development agreements, distribution agreements, settlement agreements, consent to use agreements and covenants not to xxx, but excluding licenses for personal computer software that are generally available on nondiscriminatory pricing terms and have an individual acquisition cost of $1,000 per seat or less) to which any Group Company is a party or otherwise bound, granting or restricting any right to use, exploit or practice any Licensed Intellectual Property Rights.
(b) Except for any off-the-shelf personal computer software used by the Group Companies having an individual acquisition cost of $1,000 per seat or less or $1 million in the aggregate, the Licensed Intellectual Property Rights and the Owned Intellectual Property Rights together constitute all the Intellectual Property Rights necessary to, or used or held for use in, the conduct of the business of the Group in substantially the same manner as currently conducted and as proposed to be conducted. There exist no material restrictions on the disclosure, use, license or transfer of the Owned Intellectual Property Rights. The consummation of the transactions contemplated by the Reorganization or the Transaction Documents will not alter, encumber, impair or extinguish any Owned Intellectual Property Rights or Licensed Intellectual Property Rights other than those contemplated by the Ancillary Agreements.
(c) None of the Group Companies has given to any Person an indemnity in connection with any Intellectual Property Right.
(d) To the Knowledge of the Warrantors, none of the Group Companies has infringed, misappropriated or otherwise violated any Intellectual Property Right of any third party. There is no claim, action, suit, investigation or proceeding pending against, or, to the Knowledge of the Warrantors, threatened against or affecting, any Group Company, any present or former officer, director or employee of any Group Company (i) Registered Intellectual Property included based upon, or challenging or seeking to deny or restrict, the rights of any Group Company in any of the Owned Intellectual Property, indicating for each item the registration or application number, the registration or application date, Property Rights and the applicable filing jurisdiction and Licensed Intellectual Property Rights, (ii) alleging that the use of the Owned Intellectual Property Rights or the Licensed Intellectual Property Rights or any services provided, processes used or products manufactured, used, imported or sold by the Group Company do or may conflict with, misappropriate, infringe or otherwise violate any Intellectual Property Right of any third party or (iii) alleging that is not registered but that is any Group Company has infringed, misappropriated or otherwise violated any Intellectual Property Right of any third party.
(e) None of the Owned Intellectual Property Rights and Licensed Intellectual Property Rights material to the operation of the Business. Sellers exclusively own allbusiness of the Group has been adjudged invalid or unenforceable in whole or part, and, to the Knowledge of the Warrantors, all such Owned Intellectual Property Rights and Licensed Intellectual Property Rights are valid and enforceable.
(f) Except as disclosed in Section 3.15(f) of the Disclosure Schedule, the Group Companies hold all right, title and interest in and to all Owned Intellectual PropertyProperty Rights and all of each Group Company’s licenses under the Licensed Intellectual Property Rights, free and clear of all Encumbrances (other than Permitted Encumbrances)any Lien. Sellers are not bound by any outstanding judgmentIn each case where a patent or patent application, injunctiontrademark registration or trademark application, order service xxxx registration or decree or any contractual obligation materially restricting the use by a Seller of the Owned Intellectual Propertyservice xxxx application, or materially restricting the licensing thereof to any Person. With respect to the Registered Intellectual Property copyright registration or copyright application included in the Owned Intellectual Property listed on Schedule 4.09(a)is held by assignment, (i) the assignment has been duly recorded with the Governmental Authority from which the patent or registration issued or before which the application or application for registration is pending. The Group Companies have taken all such Registered actions necessary to maintain and protect the Owned Intellectual Property is subsisting andRights and their rights in the Licensed Intellectual Property Rights, to Sellers’ Knowledge, valid and enforceable, (ii) a Seller is the owner including payment of record, and (iii) all applicable maintenance fees and filings that are required to be made to maintain such Registered Intellectual Property have been timely made (taking into account any filing of applicable grace periods)statements of use.
(bg) Schedule 4.09(b) sets forth, or at the Closing will set forth, a true and complete list of all Intellectual Property Licenses. Except as set forth on Schedule 4.09(b), Sellers have provided Buyer with true and complete copies of all such Intellectual Property Licenses. All such Intellectual Property Licenses are, to Sellers’ Knowledge, valid, binding and enforceable between the applicable Seller and the other parties thereto, and Seller and, to Sellers’ Knowledge, such other parties are disclosed in compliance with the material terms and conditions of such Intellectual Property Licenses.
(cSection 3.15(g) To Sellers’ Knowledge, the conduct of the Business as currently conducted does not infringeDisclosure Schedule, misappropriate, dilute or otherwise violate, and in the past three (3) years has not infringed, misappropriated or otherwise violated, any Intellectual Property rights of any Third Party. Sellers have not received any notice that Sellers’ use of the Transferred Intellectual Property in the conduct of the Business as currently conducted infringes, misappropriates, dilutes or otherwise violates, or in the past three (3) years no Person has infringed, misappropriated or otherwise violated, any Intellectual Property Rights of any Third Party. No Proceedings are pending and no written notices have been received by Sellers during the past three (3) years (or earlier, if presently not resolved), in each case, alleging any infringement, misappropriation or other violation by Sellers of the Intellectual Property rights of any Third Party. Except as set forth in Schedule 4.09(c), to Sellers’ Knowledge, during the past three (3) years (or earlier, if presently not resolved) no Person has infringed, misappropriated, diluted or otherwise violated any of the Owned Intellectual Property or Transferred Technology, and no Seller has made or asserted any claim, demand or notice against any person or entity alleging any such infringement, misappropriation, dilution or other violation. There is no Proceeding pending or, to Sellers’ Knowledge, threatened, challenging a Seller’s ownership of any Owned Intellectual Property, or its right to use any Transferred Intellectual Property, or challenging the validity, registrability, or enforceability of any Registered Intellectual Property included in the Owned Intellectual Property.
(d) Sellers represent that they are, each as applicable, the registrant of record of each domain name as set forth in Schedule 4.09(d) (collectively, the “Domain Names”).
(e) Sellers have taken commercially reasonable measures to protect the confidentiality of all Trade Secrets included in the Owned Intellectual Property and no material Trade Secrets have been disclosed by Sellers to any Person except pursuant to written non-disclosure agreements or other obligations of confidentiality, and, to Sellers’ Knowledge, there has not been a breach of any such agreement or obligation by any such Person.
(f) To Seller’s Knowledge, Sellers have obtained from each Person (including current and former employees and independent contractors) who has created or developed for or on behalf of Sellers any Owned Intellectual Property that is material to the Business a written, present and, valid assignment of such Right or Licensed Intellectual Property to a Seller.
(g) To Sellers’ Knowledge, in the past three (3) years, there has been no material unauthorized access to or material unauthorized use of any confidential or proprietary information or data that is both in Sellers’ possession or control and material to the BusinessRight.
(h) With respect to any material Software included within the Transferred Intellectual Property, to Sellers’ Knowledge (i) such Software is free from any material bugs, viruses or other malicious code, (ii) the Source Code pending applications and applications for such Software has not been disclosed to any Third Party, and (iii) such Software does not contain, derive from or link to any open source Software in a manner that requires the disclosure of any proprietary Source Code, limits the ability to charge fees, or grants any license to any Third Party to make derivative works.
(i) Neither the execution, delivery or performance of this Agreement, nor the consummation of the transactions contemplated by the Ancillary Agreements will result in the material loss or impairment of any registration of the Owned Intellectual Property.
(j) All third-party code Property Rights and the Licensed Intellectual Property Rights that are material to the business or operation of any Group Company, none of the Warrantors is incorporated into aware of any reason that could reasonably be expected to prevent any such application or application for registration from being granted with coverage substantially equivalent to the proprietary Software latest amended version of the pending application or application for registration. None of the trademarks, service marks, applications for trademarks and applications for service marks included in the Transferred Owned Intellectual Property and Rights that is critical are material to the business or operation of such Software is commercially available (each a “Critical IP License” any Group Company has been the subject of an opposition or cancellation procedure. None of the patents and collectively “Critical IP Licenses”), and following Closing, Buyer will be able to procure a license for all such third-party code for (i) an aggregate amount during the one-year period immediately following the Closing that shall not exceed the amount reflected for such third-party code patent applications included in the Unaudited Financial Statements by more than $200,000, and (ii) an aggregate amount during Owned Intellectual Property Rights that are material to the twelve (12) months period following the initial one-year period immediately following Closing that shall not exceed the amount reflected for such third-party code in the Unaudited Financial Statements by more than $200,000; provided that any increases in license fees resulting from a volume increase, additional licenses business or other change in the operation of Business post Closing shall not be breaches any Group Company has been the subject of this representationan interference, protest or third party reexamination request.
(k) Buyer and Sellers agree that the representations and warranties included in this Section 4.09 shall be the sole and exclusive representations and warranties of Sellers with respect to Intellectual Property matters in this Agreement.
Appears in 2 contracts
Samples: Share Purchase and Subscription Agreement (ZTO Express (Cayman) Inc.), Share Purchase and Subscription Agreement (ZTO Express (Cayman) Inc.)
Intellectual Property. (a) The Disclosure Schedule 4.09(a) sets forth a true and complete list of lists all (i) Registered patented or registered Intellectual Property included (as defined herein) owned by Seller in connection with the Owned Intellectual PropertyBusiness, indicating for each item the registration or application number, the registration or application date, and the applicable filing jurisdiction and (ii) Owned pending patent applications and applications for registrations of other Intellectual Property filed by or on behalf of Seller in connection with the Business, (iii) domain names and Internet websites maintained solely by or on behalf of Seller in connection with the Business, (iv) all products and services of Seller currently being licensed, offered, or sold or that is not registered but are currently being developed, and (v) computer software programs (other than “off-the-shelf’ software applications) that is material to the operation of are owned or licensed by Seller in connection with the Business. Sellers exclusively own allThe Disclosure Schedule also contains a complete and accurate list of all licenses, sublicenses and other agreements to which Seller is a party and pursuant to which Seller or any other person is authorized to use the Intellectual Property owned by Seller and all licenses, sublicenses and other agreements granted by any third party to Seller in connection with the Business with respect to any Intellectual Property (other than “off-the-shelf’ software applications).
(b) Seller owns all right, title and interest in and to all Owned Intellectual Property, Property that it purports to own as described on the Disclosure Schedule (in each case free and clear of all Encumbrances (other than Permitted EncumbrancesLiens). Sellers are not bound by any outstanding judgmentTo Seller’s knowledge, injunction, order or decree or any contractual obligation materially restricting the use by a Seller of the Owned Intellectual Property, or materially restricting the licensing thereof to any Person. With respect to the Registered Intellectual Property included in the Owned Intellectual Property listed on Schedule 4.09(a), (i) all such Registered Intellectual Property is subsisting and, to Sellers’ Knowledge, valid and enforceable, (ii) a Seller is the owner of record, and (iii) all maintenance fees and filings that are required to be made to maintain such Registered Intellectual Property there have been timely no written claims made (taking into account against Seller asserting the invalidity, misuse or unenforceability of any applicable grace periods).
(b) Schedule 4.09(b) sets forth, or at the Closing will set forth, a true and complete list of all Intellectual Property Licenses. Except as set forth on Schedule 4.09(b), Sellers have provided Buyer with true and complete copies of all such Intellectual Property Licenses. All such Intellectual Property Licenses are, to Sellers’ Knowledge, valid, binding and enforceable between the applicable Seller and the other parties thereto, and Seller and, to Sellers’ Knowledge, such other parties are in compliance with the material terms and conditions of such Intellectual Property Licensesor asserting that the conduct by Seller of the Business has infringed or misappropriated any Intellectual Property of any other person. To Seller’s knowledge, the Intellectual Property owned by Seller has not been infringed or misappropriated by any other person. The consummation of Transaction will not have a Material Adverse Effect on any Intellectual Property owned by Seller.
(c) To Sellers’ KnowledgeSeller owns or has the rights to use all Intellectual Property necessary to operate Seller’s internal systems that are material to the business or operations of Seller, including without limitation, computer hardware systems, software applications and embedded systems (the conduct “Seller Internal Systems”). None of the Business as currently conducted does not infringeSeller Internal Systems, misappropriateor the use thereof, dilute infringes or otherwise violateviolates, and in the past three (3) years has not infringed, misappropriated or otherwise violatedconstitutes a misappropriation of, any Intellectual Property rights of any Third Party. Sellers have not received any notice that Sellers’ use of the Transferred Intellectual Property in the conduct of the Business as currently conducted infringes, misappropriates, dilutes or otherwise violates, or in the past three (3) years has infringed, misappropriated or otherwise violated, any Intellectual Property Rights of any Third Party. No Proceedings are pending and no written notices have been received by Sellers during the past three (3) years (or earlier, if presently not resolved), in each case, alleging any infringement, misappropriation or other violation by Sellers of the Intellectual Property rights of any Third Party. Except as set forth in Schedule 4.09(c), to Sellers’ Knowledge, during the past three (3) years (or earlier, if presently not resolved) no Person has infringed, misappropriated, diluted or otherwise violated any of the Owned Intellectual Property or Transferred Technology, and no Seller has made or asserted any claim, demand or notice against any person or entity alleging any such infringement, misappropriation, dilution or other violation. There is no Proceeding pending or, to Sellers’ Knowledge, threatened, challenging a Seller’s ownership of any Owned Intellectual Property, or its right to use any Transferred Intellectual Property, or challenging the validity, registrability, or enforceability of any Registered Intellectual Property included in the Owned Intellectual Propertyentity.
(d) Sellers represent that they areFor purposes of this Agreement, each as applicable“Intellectual Property” means any patent, the registrant of record of each patent application, trademark (whether registered or unregistered), trademark application, trade name, fictitious business name, service xxxx (whether registered or unregistered), service xxxx application, domain name as set forth in Schedule 4.09(d) name, copyright (collectivelywhether registered or unregistered), the “Domain Names”).
(e) Sellers have taken commercially reasonable measures to protect the confidentiality of all Trade Secrets included in the Owned Intellectual Property and no material Trade Secrets have been disclosed by Sellers to any Person except pursuant to written noncopyright application, mask work, mask work application, trade secret, know-disclosure agreements how, customer list, franchise, system, software, invention, design, blueprint, engineering drawing, proprietary product, technology, proprietary right or other obligations of confidentiality, and, to Sellers’ Knowledge, there has not been a breach of any such agreement intellectual property right or obligation by any such Person.
(f) To Seller’s Knowledge, Sellers have obtained from each Person (including current and former employees and independent contractors) who has created or developed for or on behalf of Sellers any Owned Intellectual Property that is material to the Business a written, present and, valid assignment of such Intellectual Property to a Seller.
(g) To Sellers’ Knowledgeintangible asset, in the past three (3) years, there has been no material unauthorized access to or material unauthorized use of any confidential or proprietary information or data that is both in Sellers’ possession or control and material each case relating to the Business.
(h) With respect to any material Software included within the Transferred Intellectual Property, to Sellers’ Knowledge (i) such Software is free from any material bugs, viruses or other malicious code, (ii) the Source Code for such Software has not been disclosed to any Third Party, and (iii) such Software does not contain, derive from or link to any open source Software in a manner that requires the disclosure of any proprietary Source Code, limits the ability to charge fees, or grants any license to any Third Party to make derivative works.
(i) Neither the execution, delivery or performance of this Agreement, nor the consummation of the transactions contemplated by the Ancillary Agreements will result in the material loss or impairment of any of the Owned Intellectual Property.
(j) All third-party code that is incorporated into the proprietary Software included in the Transferred Intellectual Property and that is critical to the operation of such Software is commercially available (each a “Critical IP License” and collectively “Critical IP Licenses”), and following Closing, Buyer will be able to procure a license for all such third-party code for (i) an aggregate amount during the one-year period immediately following the Closing that shall not exceed the amount reflected for such third-party code in the Unaudited Financial Statements by more than $200,000, and (ii) an aggregate amount during the twelve (12) months period following the initial one-year period immediately following Closing that shall not exceed the amount reflected for such third-party code in the Unaudited Financial Statements by more than $200,000; provided that any increases in license fees resulting from a volume increase, additional licenses or other change in the operation of Business post Closing shall not be breaches of this representation.
(k) Buyer and Sellers agree that the representations and warranties included in this Section 4.09 shall be the sole and exclusive representations and warranties of Sellers with respect to Intellectual Property matters in this Agreement.
Appears in 2 contracts
Samples: Asset Purchase Agreement (Bridgeline Digital, Inc.), Asset Purchase Agreement (Bridgeline Digital, Inc.)
Intellectual Property. (a) Schedule 4.09(a) sets forth a true and complete list of 6 lists all (i) Registered Intellectual Property included owned by such Grantor in its own name on the Owned Intellectual Property, indicating for each item the registration or application number, the registration or application date, and the applicable filing jurisdiction and (ii) Owned Intellectual Property that is not registered but that is material to the operation of the Business. Sellers exclusively own all, right, title and interest in all Owned Intellectual Property, free and clear of all Encumbrances (other than Permitted Encumbrances). Sellers are not bound by any outstanding judgment, injunction, order or decree or any contractual obligation materially restricting the use by a Seller of the Owned Intellectual Property, or materially restricting the licensing thereof to any Person. With respect to the Registered Intellectual Property included in the Owned Intellectual Property listed on Schedule 4.09(a), (i) all such Registered Intellectual Property is subsisting and, to Sellers’ Knowledge, valid and enforceable, (ii) a Seller is the owner of record, and (iii) all maintenance fees and filings that are required to be made to maintain such Registered Intellectual Property have been timely made (taking into account any applicable grace periods)date hereof.
(b) Schedule 4.09(b) sets forthOn the date hereof, or at the Closing will set forth, a true and complete list of all material Intellectual Property Licenses. Except as set forth on Schedule 4.09(b), Sellers have provided Buyer with true and complete copies of all such Intellectual Property Licenses. All such Intellectual Property Licenses are, to Sellers’ Knowledge, is valid, binding subsisting, unexpired and enforceable between enforceable, has not been abandoned and does not infringe the applicable Seller and the intellectual property rights of any other parties thereto, and Seller and, to Sellers’ Knowledge, such other parties are in compliance with the material terms and conditions of such Intellectual Property LicensesPerson.
(c) To Sellers’ Knowledge, the conduct of the Business as currently conducted does not infringe, misappropriate, dilute or otherwise violate, and in the past three (3) years has not infringed, misappropriated or otherwise violated, any Intellectual Property rights of any Third Party. Sellers have not received any notice that Sellers’ use of the Transferred Intellectual Property in the conduct of the Business as currently conducted infringes, misappropriates, dilutes or otherwise violates, or in the past three (3) years has infringed, misappropriated or otherwise violated, any Intellectual Property Rights of any Third Party. No Proceedings are pending and no written notices have been received by Sellers during the past three (3) years (or earlier, if presently not resolved), in each case, alleging any infringement, misappropriation or other violation by Sellers of the Intellectual Property rights of any Third Party. Except as set forth in Schedule 4.09(c)6, to Sellers’ Knowledgeon the date hereof, during the past three (3) years (or earlier, if presently not resolved) no Person has infringed, misappropriated, diluted or otherwise violated any none of the Owned Intellectual Property or Transferred Technology, and no Seller has made or asserted any claim, demand or notice against any person or entity alleging any such infringement, misappropriation, dilution or other violation. There is no Proceeding pending or, to Sellers’ Knowledge, threatened, challenging a Seller’s ownership the subject of any Owned licensing or franchise agreement pursuant to which such Grantor is the licensor or franchisor. Schedule 6 lists all Intellectual Property, which, on the date hereof, is the subject of a license agreement pursuant to which such Grantor is a licensee thereof. Each such license agreement is valid and binding and in full force and effect with respect to such Grantor and such Grantor has not received any notice of termination or its cancellation or received any notice of a breach or default under such agreement. To the extent that Section 9-408 of the New York UCC is applicable thereto or such agreement permits the assignment of such Grantor’s rights thereunder, such license agreement will not cease to be valid and binding and in full force and effect (other than such terms as are deemed ineffective pursuant to Section 9-408 of the New York UCC) with respect to such Grantor on terms identical to those currently in effect as a result of the rights and interest granted herein, nor will the grant of such rights and interest constitute a material breach or default under such agreement or otherwise give any party thereto a right to use any Transferred Intellectual Property, or challenging the validity, registrability, or enforceability of any Registered Intellectual Property included in the Owned Intellectual Propertyterminate such agreement.
(d) Sellers represent that they areNo holding, each as applicabledecision or judgment has been rendered by any Governmental Authority which would limit, cancel or question the registrant of record of each domain name as set forth validity of, or such Grantor’s rights in, any Intellectual Property in Schedule 4.09(d) (collectively, the “Domain Names”)any material respect.
(e) Sellers have taken commercially reasonable measures to protect the confidentiality of all Trade Secrets included in the Owned Intellectual Property and no material Trade Secrets have been disclosed by Sellers to any Person except pursuant to written non-disclosure agreements No action or other obligations of confidentialityproceeding is pending, andor, to Sellers’ Knowledge, there has not been a breach of any such agreement or obligation by any such Person.
(f) To Seller’s Knowledge, Sellers have obtained from each Person (including current and former employees and independent contractors) who has created or developed for or on behalf of Sellers any Owned Intellectual Property that is material to the Business a written, present and, valid assignment knowledge of such Intellectual Property to a Seller.
(g) To Sellers’ KnowledgeGrantor, in threatened, on the past three (3) years, there has been no material unauthorized access to or material unauthorized use of any confidential or proprietary information or data that is both in Sellers’ possession or control and material to the Business.
(h) With respect to any material Software included within the Transferred Intellectual Property, to Sellers’ Knowledge date hereof (i) seeking to limit, cancel or question the validity of any Intellectual Property or such Software is free from any material bugsGrantor’s ownership interest or rights therein, viruses or other malicious code, (ii) which, if adversely determined, would have a material adverse effect on the Source Code for such Software has not been disclosed to any Third Party, and (iii) such Software does not contain, derive from or link to any open source Software in a manner that requires the disclosure value of any proprietary Source Code, limits the ability to charge fees, or grants any license to any Third Party to make derivative works.
(i) Neither the execution, delivery or performance of this Agreement, nor the consummation of the transactions contemplated by the Ancillary Agreements will result in the material loss or impairment of any of the Owned Intellectual Property.
(j) All third-party code that is incorporated into the proprietary Software included in the Transferred Intellectual Property and that is critical to the operation of such Software is commercially available (each a “Critical IP License” and collectively “Critical IP Licenses”), and following Closing, Buyer will be able to procure a license for all such third-party code for (i) an aggregate amount during the one-year period immediately following the Closing that shall not exceed the amount reflected for such third-party code in the Unaudited Financial Statements by more than $200,000, and (ii) an aggregate amount during the twelve (12) months period following the initial one-year period immediately following Closing that shall not exceed the amount reflected for such third-party code in the Unaudited Financial Statements by more than $200,000; provided that any increases in license fees resulting from a volume increase, additional licenses or other change in the operation of Business post Closing shall not be breaches of this representation.
(k) Buyer and Sellers agree that the representations and warranties included in this Section 4.09 shall be the sole and exclusive representations and warranties of Sellers with respect to Intellectual Property matters in this Agreement.
Appears in 2 contracts
Samples: Note Security Agreement (Cellu Tissue Holdings, Inc.), Security Agreement (Cellu Tissue Holdings, Inc.)
Intellectual Property. (a) Schedule 4.09(aSchedules 2.9(a)(i) sets and (ii) set forth a true true, complete and complete correct list of all (i) Registered Intellectual Property included in the Owned all registered Intellectual Property, indicating and Intellectual Property that is the subject of an application for registration, in each case owned or licensed by any of the Companies (such schedule showing, for each item where applicable, the registration or application number, the jurisdiction, filing, issuance or registration or application date, and the applicable filing jurisdiction dates (if any)); and (ii) Owned Intellectual Property any unregistered trademarks, service marks or brand names owned and used or held for use by the Companies that is not registered but that is are material to the operation of the BusinessCasino. Sellers exclusively The Companies either own allor have valid licenses to use all of the Intellectual Property. The Companies (x) as of the date of this Agreement, right, title and interest are in compliance in all Owned Intellectual Property, free and clear of all Encumbrances (other than Permitted Encumbrances). Sellers are not bound by any outstanding judgment, injunction, order or decree or any contractual obligation materially restricting the use by a Seller of the Owned Intellectual Property, or materially restricting the licensing thereof to any Person. With respect to the Registered Intellectual Property included in the Owned Intellectual Property listed on Schedule 4.09(a), (i) all such Registered Intellectual Property is subsisting and, to Sellers’ Knowledge, valid and enforceable, (ii) a Seller is the owner of recordmaterial respects, and (iiiy) at the Closing Date will be in compliance in all maintenance fees material respects, with all such licenses and filings that are required to be made to maintain such Registered all Intellectual Property have been timely made Agreements. There are no pending or, to the Knowledge of HoldCo, threatened Legal Proceedings challenging or questioning (taking into account A) the validity or effectiveness of the Intellectual Property or any applicable grace periods)Intellectual Property Agreement to which the Companies are a party, or (B) the right of the Companies to use, copy, modify or distribute the Intellectual Property. Schedule 2.9(a)(iii) sets forth a true, complete and correct list of all material Intellectual Property Agreements, other than Intellectual Property Agreements for commercially available software or any clickwrap, shrinkwrap or other similar standard form electronic Contracts relating to the Intellectual Property.
(b) Schedule 4.09(b) sets forthNone of the Companies is now interfering with, infringing upon, misappropriating, violating or at otherwise in conflict with, any intellectual property right of any other Person. None of the Closing will set forthCompanies has received any written communication alleging that any of the Companies has infringed, a true and complete list misappropriated or violated any intellectual property right of all any other Person. To the Knowledge of HoldCo, no Person is infringing any of the Intellectual Property Licenses. Except as set forth on Schedule 4.09(b), Sellers have provided Buyer with true and complete copies of all such Intellectual Property Licenses. All such Intellectual Property Licenses are, owned by or exclusively licensed to Sellers’ Knowledge, valid, binding and enforceable between the applicable Seller and the other parties thereto, and Seller and, to Sellers’ Knowledge, such other parties are in compliance with the material terms and conditions of such Intellectual Property LicensesCompanies.
(c) To Sellers’ KnowledgeExcept as would not be material to the Companies, the conduct of Companies have (i) paid all maintenance, renewal or similar fees required by any applicable Governmental Authorities to maintain any patent, patent application, trademark registration, service xxxx registration or copyright registration owned by the Business as currently conducted does not infringe, misappropriate, dilute or otherwise violateCompanies in force, and in (ii) filed responses to all actions from applicable Governmental Authorities that have become due relating to any patent, patent application, trademark registration, service xxxx registration or copyright registration owned by the past three Companies.
(3d) years No written Claim or demand has not infringed, misappropriated or otherwise violated, any Intellectual Property rights of any Third Party. Sellers have not received any notice that Sellers’ use of the Transferred Intellectual Property in the conduct of the Business as currently conducted infringes, misappropriates, dilutes or otherwise violates, or in the past three (3) years has infringed, misappropriated or otherwise violated, any Intellectual Property Rights of any Third Party. No Proceedings are pending and no written notices have been received by Sellers during the past three (3) years (or earlier, if presently not resolved), in each case, alleging any infringement, misappropriation or other violation by Sellers of the Intellectual Property rights of any Third Party. Except as set forth in Schedule 4.09(c), to Sellers’ Knowledge, during the past three (3) years (or earlier, if presently not resolved) no Person has infringed, misappropriated, diluted or otherwise violated any of the Owned Intellectual Property Companies, or Transferred Technologyany Legal Proceeding instituted by any Person, and no Seller has made including, without limitation, any opposition Legal Proceeding in any patent office, copyright office, or asserted trademark or service xxxx registration office, that challenges any claimright, demand title or notice against any person or entity alleging any such infringement, misappropriation, dilution or other violation. There is no Proceeding pending or, to Sellers’ Knowledge, threatened, challenging a Seller’s ownership interest of any Owned Intellectual Property, or its right to use of the Companies in any Transferred Intellectual Property, or challenging of the validity, registrability, or enforceability of any Registered Intellectual Property included in the Owned Intellectual Property.
(d) Sellers represent that they are, each as applicable, the registrant of record of each domain name as set forth in Schedule 4.09(d) (collectively, the “Domain Names”).
(e) Sellers HoldCo and its Affiliates have taken commercially reasonable measures to protect the confidentiality of all Trade Secrets included in the Owned trade secrets and confidential information of the Companies that constitute any of the Intellectual Property and no material Trade Secrets have been disclosed by Sellers to any Person except pursuant to written non-disclosure agreements or other obligations of confidentiality, and, to Sellers’ Knowledge, there has not been a breach of any such agreement or obligation by any such PersonProperty.
(f) To SellerSilver Slipper Gaming, LLC, a California limited liability company, in its capacity as “Operator” pursuant to the Casino Management Agreement, does not own, possess or have access to any records with respect to the Casino’s Knowledgecustomers that are not included in the Customer Database.
(g) The consummation of the transactions contemplated by this Agreement and the other Transaction Documents will not result in the loss or impairment of or payment of any additional amounts with respect to, Sellers have obtained from each nor require the consent of any other Person (including current and former employees and independent contractors) who has created in respect of, any Company’s right to own, use or developed hold for or on behalf of Sellers use any Owned Intellectual Property that is material to the Business a written, present and, valid assignment conduct of such Intellectual Property to a Seller.
(g) To Sellers’ Knowledge, in the past three (3) years, there has been no material unauthorized access to or material unauthorized use of any confidential or proprietary information or data that is both in Sellers’ possession or control and material to the Business.
(h) With respect to any material Software included within the Transferred Intellectual Property, to Sellers’ Knowledge (i) such Software is free from any material bugs, viruses or other malicious code, (ii) the Source Code for such Software has not been disclosed to any Third Party, and (iii) such Software does not contain, derive from or link to any open source Software in a manner that requires the disclosure of any proprietary Source Code, limits the ability to charge fees, or grants any license to any Third Party to make derivative works.
(i) Neither the execution, delivery or performance of this Agreement, nor the consummation of the transactions contemplated by the Ancillary Agreements will result in the material loss or impairment of any of the Owned Intellectual Property.
(j) All third-party code that is incorporated into the proprietary Software included in the Transferred Intellectual Property and that is critical to the operation of such Software is commercially available (each a “Critical IP License” and collectively “Critical IP Licenses”), and following Closing, Buyer will be able to procure a license for all such third-party code for (i) an aggregate amount during the one-year period immediately following the Closing that shall not exceed the amount reflected for such third-party code in the Unaudited Financial Statements by more than $200,000, and (ii) an aggregate amount during the twelve (12) months period following the initial one-year period immediately following Closing that shall not exceed the amount reflected for such third-party code in the Unaudited Financial Statements by more than $200,000; provided that any increases in license fees resulting from a volume increase, additional licenses or other change in the operation of Business post Closing shall not be breaches of this representation.
(k) Buyer and Sellers agree that the representations and warranties included in this Section 4.09 shall be the sole and exclusive representations and warranties of Sellers with respect to Intellectual Property matters in this Agreement.
Appears in 2 contracts
Samples: Merger Agreement (Vici Properties Inc.), Merger Agreement (Penn National Gaming Inc)
Intellectual Property. (a) Schedule 4.09(aSection 4.10(a) sets forth a true and complete list of the Disclosure Schedules lists all (i) Registered Intellectual Property included in the Owned Intellectual Property, indicating for each item the registration or application number, the registration or application date, and the applicable filing jurisdiction Registrations and (ii) Owned Intellectual Property Assets that is are not registered but that is material that, to the operation Knowledge of the BusinessSellers, are used for the conduct of the 17173 Business as currently conducted and (iii) the owners of the foregoing. All required filings and fees related to the Intellectual Property Registrations have been timely filed with and paid to the relevant Governmental Authorities and authorized registrars, and all Intellectual Property Registrations are otherwise in good standing. The Sellers have provided the Buyers with true and complete copies of file histories, documents, certificates, office actions, correspondence and other materials related to all Intellectual Property Registrations.
(b) Except as set forth in Section 4.10(b) of the Disclosure Schedules, the Sellers own exclusively own all, all right, title and interest in all Owned and to the Intellectual PropertyProperty Assets, and to the Knowledge of the Sellers, free and clear of all Encumbrances (other than Permitted Encumbrances). Sellers are not bound by any outstanding judgment, injunction, order or decree or any contractual obligation materially restricting To the use by a Seller Knowledge of the Owned Sellers, all Intellectual PropertyProperty Assets are valid and subsisting and have not been abandoned, and all necessary registration, maintenance and renewal fees with respect thereto have been satisfied. None of the Sellers, nor, to the Knowledge of the Sellers, any of their employees, officers or directors has taken any actions or failed to take any actions that would cause any of the Intellectual Property Assets to be invalid, unenforceable or not subsisting. No Intellectual Property Asset is subject to any proceeding or outstanding Governmental Order that restricts in any manner the use, transfer or licensing thereof, or materially restricting may affect the licensing thereof to validity, use or enforceability of any Person. With respect to the Registered Intellectual Property included in the Owned Intellectual Property listed on Schedule 4.09(a), (i) all such Registered Intellectual Property is subsisting and, to Sellers’ Knowledge, valid and enforceable, (ii) a Seller is the owner of record, and (iii) all maintenance fees and filings that are required to be made to maintain such Registered Intellectual Property have been timely made (taking into account any applicable grace periods)Assets.
(bc) Schedule 4.09(bSection 4.10(c) sets forth, or at of the Closing will set forth, a true and complete list of Disclosure Schedules lists all Intellectual Property Licenses. Except as set forth on Schedule 4.09(b), The Sellers have provided Buyer the Buyers with true and complete copies of all such Intellectual Property Licenses. All such Intellectual Property Licenses are, to Sellers’ Knowledge, are valid, binding and enforceable between the applicable Seller Sellers and the other parties thereto, and Seller and.
(d) There are no Actions pending or, to the Sellers’ Knowledge, such other parties are in compliance with threatened against any Seller Group Company, alleging that (i) the material terms and conditions of such Intellectual Property Licenses.
(c) To Sellers’ Knowledge, the conduct operation of the 17173 Business as currently conducted does not infringeor (ii) the use of the Intellectual Property Assets or any Intellectual Property subject to any Intellectual Property License infringes, misappropriate, dilute misappropriates or otherwise violate, and in the past three (3) years has not infringed, misappropriated or otherwise violatedviolates, any Intellectual Property rights of any Third PartyPerson. Sellers have not received any notice that Sellers’ The use of by the Transferred Intellectual Property in the conduct of the Business as currently conducted infringes, misappropriates, dilutes or otherwise violates, or in the past three (3) years has infringed, misappropriated or otherwise violated, any Intellectual Property Rights of any Third Party. No Proceedings are pending and no written notices have been received by Sellers during the past three (3) years (or earlier, if presently not resolved), in each case, alleging any infringement, misappropriation or other violation by Sellers of the Intellectual Property rights Assets does not constitute any misappropriation, violation or, to the Knowledge of the Sellers, infringement of any Third PartyIntellectual Property of any other Person.
(e) Section 4.10(e) of the Disclosure Schedules lists all licenses, sublicenses and other agreements pursuant to which the Sellers grant rights or authority to any Person with respect to any Intellectual Property Assets or Intellectual Property Licenses. The Sellers have provided the Buyers with true and complete copies of all such agreements. All such agreements are valid, binding and enforceable between the Sellers and the other parties thereto. To the Sellers’ Knowledge, no Person has infringed, violated or misappropriated, or is infringing, violating or misappropriating, any Intellectual Property Assets or any Intellectual Property with respect to which any Seller has obtained an exclusive license under any Intellectual Property License. Except as set forth in Schedule 4.09(c), to Sellers’ Knowledge, during the past three (3on Section 4.10(e) years (or earlier, if presently not resolved) no Person has infringed, misappropriated, diluted or otherwise violated any of the Owned Intellectual Property or Transferred TechnologyDisclosure Schedules, and no Seller has made or asserted any claimassigned, demand or notice against any person or entity alleging any such infringementtransferred, misappropriationlicensed, dilution or other violation. There is no Proceeding pending or, to Sellers’ Knowledge, threatened, challenging a Seller’s ownership of any Owned Intellectual Propertypledged, or its right to use otherwise encumbered any Transferred Intellectual Property, or challenging portion of the validity, registrability, or enforceability of any Registered Intellectual Property included in the Owned Intellectual Property.
(d) Sellers represent that they are, each as applicable, the registrant of record of each domain name as set forth in Schedule 4.09(d) (collectively, the “Domain Names”).
(e) Assets or has entered into any agreement to do so. The Sellers have taken commercially reasonable measures the right and power to protect transfer the confidentiality of all Trade Secrets included in the Owned applicable Intellectual Property Assets to the Buyers in accordance with the Transaction Documents, and no material Trade Secrets have been disclosed by Sellers to any Person except grant the Excluded IP Assets License to the Buyers pursuant to written non-disclosure agreements or other obligations of confidentiality, and, to Sellers’ Knowledge, there has not been a breach of any such agreement or obligation by any such PersonSection 2.08 hereof.
(f) To Seller’s Knowledge, Sellers have obtained from each Person (including current and former employees and independent contractors) who has created or developed for or on behalf of Sellers any Owned The Intellectual Property that is material Assets (excluding the Excluded IP Assets) (together with Sellers’ rights under the Intellectual Property Licenses) to be transferred to the Business a writtenBuyers on the date hereof and at the Closing, present andand the Excluded IP Assets License to be granted to the Buyers at the Closing, valid assignment constitute in aggregate all of such the Intellectual Property necessary to a Sellerconduct the 17173 Business as currently conducted and are sufficient for the continued conduct of the 17173 Business after the Closing in substantially the same manner as conducted prior to the Closing.
(g) To No employee or former employee or, to the Knowledge of the Sellers’ Knowledge, any consultant or contractor of any Seller Group Company has any right, title or interest, directly or indirectly, in whole or in part, in any Intellectual Property Assets. Each employee and former employee, and, to the past three (3) yearsKnowledge of the Sellers, there has been no material unauthorized access to or material unauthorized use each consultant and contractor of any confidential Seller Group Company who is or proprietary information was involved in, or data that is both who has contributed to, the creation or development of any Intellectual Property Assets has executed and delivered an agreement in Sellers’ possession or control substantially the form of Sohu’s standard employee/contractor nondisclosure and material to the Businessinvention assignment agreement.
(h) With respect The Seller Group has taken reasonable security measures in compliance with industry standard to any material Software included within protect the Transferred Intellectual Propertysecrecy, to Sellers’ Knowledge (i) such Software is free from any material bugs, viruses or other malicious code, (ii) confidentiality and value of all the Source Code for such Software has not been disclosed to any Third Party, trade secrets and (iii) such Software does not contain, derive from or link to any open source Software in a manner that requires the disclosure of any confidential and proprietary Source Code, limits the ability to charge fees, or grants any license to any Third Party to make derivative works.
(i) Neither the execution, delivery or performance of this Agreement, nor the consummation of the transactions contemplated by the Ancillary Agreements will result in the material loss or impairment of any of the Owned Intellectual Property.
(j) All third-party code that is incorporated into the proprietary Software information included in the Transferred Intellectual Property and that is critical to the operation of such Software is commercially available (each a “Critical IP License” and collectively “Critical IP Licenses”), and following Closing, Buyer will be able to procure a license for all such third-party code for (i) an aggregate amount during the one-year period immediately following the Closing that shall not exceed the amount reflected for such third-party code in the Unaudited Financial Statements by more than $200,000, and (ii) an aggregate amount during the twelve (12) months period following the initial one-year period immediately following Closing that shall not exceed the amount reflected for such third-party code in the Unaudited Financial Statements by more than $200,000; provided that any increases in license fees resulting from a volume increase, additional licenses or other change in the operation of Business post Closing shall not be breaches of this representationAssets.
(k) Buyer and Sellers agree that the representations and warranties included in this Section 4.09 shall be the sole and exclusive representations and warranties of Sellers with respect to Intellectual Property matters in this Agreement.
Appears in 2 contracts
Samples: Master Transaction Agreement (Changyou.com LTD), Master Transaction Agreement (Sohu Com Inc)
Intellectual Property. (a) Schedule 4.09(a) 6.12 sets forth a true and complete list of all (i) Registered material Intellectual Property included in the Owned Intellectual Propertyowned, indicating for each item the registration used, filed by or application number, the registration or application date, and the applicable filing jurisdiction and (ii) Owned Intellectual Property that is not registered but that is material licensed to the operation of the Business. Sellers exclusively own all, right, title and interest in all Owned Intellectual Property, free and clear of all Encumbrances (other than Permitted Encumbrances). Sellers are not bound by any outstanding judgment, injunction, order or decree Buyer or any contractual obligation materially restricting the use by a Seller of the Owned Intellectual Property, or materially restricting the licensing thereof to any Personits Subsidiaries. With respect to the Registered Intellectual Property included in the Owned Intellectual Property listed on registered trademarks, Schedule 4.09(a), (i) all such Registered Intellectual Property is subsisting and, to Sellers’ Knowledge, valid and enforceable, (ii) 6.12 sets forth a Seller is the owner of record, and (iii) all maintenance fees and filings that are required to be made to maintain such Registered Intellectual Property have been timely made (taking into account any applicable grace periods).
(b) Schedule 4.09(b) sets forth, or at the Closing will set forth, a true and complete list of all Intellectual Property Licensesjurisdictions in which such trademarks are registered or applied for and all registrations and application numbers. Except as set forth on Schedule 4.09(b)6.12, Sellers the Buyer and its Subsidiaries own, and Buyer and its Subsidiaries have provided Buyer with true the right to use, execute, reproduce, display, perform, modify, enhance, distribute, prepare derivative works of and complete copies of sublicenses, without payment to any other Person, all such Intellectual Property Licenses. All such Intellectual Property Licenses are, to Sellers’ Knowledge, valid, binding and enforceable between the applicable Seller and the other parties thereto, and Seller listed in Schedule 6.12 and, to Sellers’ Knowledge, such other parties are in compliance with the material terms and conditions knowledge of such Intellectual Property Licenses.
(c) To Sellers’ Knowledge, the conduct of the Business as currently conducted does not infringe, misappropriate, dilute or otherwise violate, and in the past three (3) years has not infringed, misappropriated or otherwise violated, any Intellectual Property rights of any Third Party. Sellers have not received any notice that Sellers’ use of the Transferred Intellectual Property in the conduct of the Business as currently conducted infringes, misappropriates, dilutes or otherwise violates, or in the past three (3) years has infringed, misappropriated or otherwise violated, any Intellectual Property Rights of any Third Party. No Proceedings are pending and no written notices have been received by Sellers during the past three (3) years (or earlier, if presently not resolved), in each case, alleging any infringement, misappropriation or other violation by Sellers of the Intellectual Property rights of any Third Party. Except as set forth in Schedule 4.09(c), to Sellers’ Knowledge, during the past three (3) years (or earlier, if presently not resolved) no Person has infringed, misappropriated, diluted or otherwise violated any of the Owned Intellectual Property or Transferred Technology, and no Seller has made or asserted any claim, demand or notice against any person or entity alleging any such infringement, misappropriation, dilution or other violation. There is no Proceeding pending or, to Sellers’ Knowledge, threatened, challenging a Seller’s ownership of any Owned Intellectual Property, Buyer or its right to use any Transferred Intellectual PropertySubsidiaries, or challenging the validity, registrability, or enforceability of any Registered Intellectual Property included in the Owned Intellectual Property.
(d) Sellers represent that they are, each as applicable, the registrant of record of each domain name as set forth in Schedule 4.09(d) (collectively, the “Domain Names”).
(e) Sellers have taken commercially reasonable measures to protect the confidentiality of all Trade Secrets included in the Owned Intellectual Property and no material Trade Secrets have been disclosed by Sellers to any Person except pursuant to written non-disclosure agreements or other obligations of confidentiality, and, to Sellers’ Knowledge, there has not been a breach of any such agreement or obligation by any such Person.
(f) To Seller’s Knowledge, Sellers have obtained from each Person (including current and former employees and independent contractors) who has created or developed for or on behalf of Sellers any Owned Intellectual Property that is material to the Business a written, present and, valid assignment of such Intellectual Property to a Seller.
(g) To Sellers’ Knowledge, in the past three (3) years, there has been no material unauthorized access to or material unauthorized use of any confidential or proprietary information or data that is both in Sellers’ possession or control and material to the Business.
(h) With respect to any material Software included within the Transferred Intellectual Property, to Sellers’ Knowledge (i) such Software is free from any material bugs, viruses or other malicious code, (ii) the Source Code for such Software has not been disclosed to any Third Party, and (iii) such Software does not contain, derive from or link to any open source Software in a manner that requires the disclosure of any proprietary Source Code, limits the ability to charge fees, or grants any license to any Third Party to make derivative works.
(i) Neither the execution, delivery or performance of this Agreement, nor the consummation of the transactions contemplated by the Ancillary Agreements hereby will result not conflict with, alter or impair any such rights. Buyer and its Subsidiaries have all rights to Intellectual Property as are necessary in the material loss or impairment of any of the Owned Intellectual Propertyconnection with their respective businesses as they are presently being conducted.
(jb) All third-Buyer and its Subsidiaries have not granted any licenses or contractual rights of any kind relating to Intellectual Property listed on Schedule 6.12 or the marketing or distribution thereof. Buyer and its Subsidiaries are not bound by or a party code that is incorporated into to any Contracts of any kind relating to the proprietary Software included Intellectual Property of any other Person, except as set forth on Schedule 6.12 and except for agreements relating to computer software licensed to Buyer and its Subsidiaries in the Transferred ordinary course of business consistent with past practice. Subject to the rights of third parties set forth on Schedule 6.12, all Intellectual Property listed in Schedule 6.12 is free and that is critical clear of the claims of others and of all Liens whatsoever. The conduct of the businesses of Buyer and its Subsidiaries as they are presently being conducted and as they are proposed to be conducted after the operation Closing as contemplated by the parties does not and will not violate, conflict with or infringe the Intellectual Property of such Software is commercially available (each a “Critical IP License” and collectively “Critical IP Licenses”)any other Person. Except as set forth on Schedule 6.12, and following Closing, Buyer will be able to procure a license for all such third-party code for (i) an aggregate amount during no claims are pending or, to the one-year period immediately following knowledge of Buyer or any of its Subsidiaries, threatened against Buyer or any of its Subsidiaries by any Person with respect to the Closing that shall not exceed the amount reflected for such third-party code in the Unaudited Financial Statements by more than $200,000ownership, validity, enforceability, effectiveness or use of any Intellectual Property and (ii) an aggregate amount during the twelve (12) months period following the initial one-year period immediately following Closing that shall not exceed the amount reflected for such third-party code in the Unaudited Financial Statements by more than $200,000; provided that any increases in license fees resulting from a volume increase, additional licenses or other change in the operation of Business post Closing shall not be breaches of this representation.
(k) Buyer and Sellers agree its Subsidiaries have not received any communications alleging that the representations and warranties included in this Section 4.09 shall be the sole and exclusive representations and warranties Buyer or any of Sellers with respect its Subsidiaries has violated any rights relating to Intellectual Property matters in this Agreementof any Person.
Appears in 2 contracts
Samples: Asset Purchase and Merger Agreement (Crown Castle International Corp), Asset Purchase and Merger Agreement (Crown Castle International Corp)
Intellectual Property. (a) Schedule 4.09(a) sets forth a true and complete list of all (i) Registered The Assets as currently used by Sellers do not infringe, misuse or misappropriate any Intellectual Property included Right of any Person, violate any right of privacy or any property rights of any Person, or contain any material or information that is libelous or obscene; provided, however, that no such representation under this Section 2.9 is made to the extent that any such infringement, misuse or misappropriation arose out of acts, omissions or events (or was inherent in the Owned Intellectual PropertyAssets) prior to October 1, indicating for each item 2001. To the registration Knowledge of Sellers no such infringement, misuse of, misappropriation of or application numberviolation of rights or existence of libelous or obscene material exists with respect to acts, the registration omissions or application date, and the applicable filing jurisdiction and (ii) Owned Intellectual Property that is not registered but that is material to the operation of the Business. Sellers exclusively own all, right, title and interest in all Owned Intellectual Property, free and clear of all Encumbrances (other than Permitted Encumbrances). Sellers are not bound by any outstanding judgment, injunction, order or decree or any contractual obligation materially restricting the use by a Seller of the Owned Intellectual Propertyevents prior to, or materially restricting the licensing thereof to any Person. With with respect to the Registered Intellectual Property included in Assets as the Owned Intellectual Property listed on Schedule 4.09(a)same existed prior to, (i) all such Registered Intellectual Property is subsisting andOctober 1, to Sellers’ Knowledge, valid and enforceable, (ii) a Seller is the owner of record, and (iii) all maintenance fees and filings that are required to be made to maintain such Registered Intellectual Property have been timely made (taking into account any applicable grace periods).
(b) Schedule 4.09(b) sets forth, or at the Closing will set forth, a true and complete list of all Intellectual Property Licenses2001. Except as set forth on Schedule 4.09(b2.9(a), there is no pending (or to the Knowledge of Sellers, threatened) claim or charge with respect to any of the foregoing. There is no pending claim by Sellers have provided Buyer or any of their Affiliates against any Person for infringement, misuse or misappropriation of any Intellectual Property Right, or for any violation of any right of privacy or any property rights, with true and complete respect to any of the Assets, nor to the Knowledge of Sellers, has any act, omission or state of events occurred that might allow Sellers or any of their Affiliates to pursue a claim for any of the foregoing. No Seller nor any of their Affiliates is obligated or under any liability whatsoever to make any payments by way of royalties, fees or otherwise to any owner of, licensor of, or other claimant to, any Intellectual Property Right with respect to or in connection with any of the Assets or with respect to or in connection with consummation of any of the transactions contemplated hereby.
(b) To the Knowledge of Sellers, there are no full or partial copies of all such Intellectual Property any of the Transferred Software, the Testing Materials, the Documentation or any Transferred IP other than (i) copies of the Transferred Software to be retained by Sellers pursuant to the License-Back Agreement, (ii) copies of the Transferred Software (in object code form only) lawfully held by nonexclusive end-user licensees pursuant to the End-User Licenses and/or the Portal Licenses. All such Intellectual Property Licenses are, (iii) copies to Sellers’ Knowledge, valid, binding and enforceable between the applicable Seller and the other parties theretobe delivered to Buyer hereunder, and Seller and(iv) any copies that may have been created by any Person other than Sellers and its Affiliates prior to October 1, to Sellers’ Knowledge, such other parties are in compliance with the material terms and conditions of such Intellectual Property Licenses2001.
(c) To Sellers’ Knowledge, the conduct Each item of the Business as currently conducted does not infringe, misappropriate, dilute software or otherwise violate, and in the past three (3) years has not infringed, misappropriated or otherwise violated, any Intellectual Property rights of any Third Party. Sellers have not received any notice that Sellers’ use of the Transferred Intellectual Property in the conduct of the Business as currently conducted infringes, misappropriates, dilutes or otherwise violates, or in the past three (3) years has infringed, misappropriated or otherwise violated, any Intellectual Property Rights of any Third Party. No Proceedings are pending and no written notices have been received by Sellers during the past three (3) years (or earlier, if presently not resolved), in each case, alleging any infringement, misappropriation or other violation by Sellers of the Intellectual Property rights of any Third Party. Except as set forth in Schedule 4.09(c), to Sellers’ Knowledge, during the past three (3) years (or earlier, if presently not resolved) no Person has infringed, misappropriated, diluted or otherwise violated circuitry included within any of the Owned Intellectual Property or Transferred Technology, and no Seller has made or asserted any claim, demand or notice against any person or entity alleging any such infringement, misappropriation, dilution or other violation. There Assets is no Proceeding pending or, to Sellers’ Knowledge, threatened, challenging a Seller’s ownership free of any Owned Intellectual Propertycomponents, devices or its right routines that are designed to use any Transferred Intellectual Property, or challenging the validity, registrability, or enforceability of any Registered Intellectual Property included in the Owned Intellectual Property.
(d) Sellers represent that they are, each as applicable, the registrant of record of each domain name as set forth in Schedule 4.09(d) (collectively, the “Domain Names”).
(e) Sellers have taken commercially reasonable measures to protect the confidentiality of all Trade Secrets included in the Owned Intellectual Property and no material Trade Secrets have been disclosed by Sellers to any Person except pursuant to written non-disclosure agreements or other obligations of confidentiality, and, to Sellers’ Knowledge, there has not been a breach of any such agreement or obligation by any such Person.
(f) To Seller’s Knowledge, Sellers have obtained from each Person (including current and former employees and independent contractors) who has created or developed for or on behalf of Sellers any Owned Intellectual Property that is material to the Business a written, present and, valid assignment of such Intellectual Property to a Seller.
(g) To Sellers’ Knowledge, in the past three (3) years, there has been no material unauthorized access to or material unauthorized use of any confidential or proprietary information or data that is both in Sellers’ possession or control and material to the Business.
(h) With respect to any material Software included within the Transferred Intellectual Property, to Sellers’ Knowledge (i) such Software is free from any material bugs, viruses permit a program to be disabled with the passage of time or under the positive control of a Person other malicious code, (ii) than the Source Code for such Software has not been disclosed to any Third Party, and (iii) such Software does not contain, derive from or link to any open source Software in a manner that requires the disclosure of any proprietary Source Code, limits the ability to charge fees, or grants any license to any Third Party to make derivative works.
(i) Neither the execution, delivery or performance of this Agreement, nor the consummation of the transactions contemplated by the Ancillary Agreements will result in the material loss or impairment of any of the Owned Intellectual Property.
(j) All third-party code that is incorporated into the proprietary Software included in the Transferred Intellectual Property and that is critical to the operation of such Software is commercially available (each a “Critical IP License” and collectively “Critical IP Licenses”), and following Closing, Buyer will be able to procure a license for all such third-party code for (i) an aggregate amount during the one-year period immediately following the Closing that shall not exceed the amount reflected for such third-party code in the Unaudited Financial Statements by more than $200,000, and (ii) an aggregate amount during the twelve (12) months period following the initial one-year period immediately following Closing that shall not exceed the amount reflected for such third-party code in the Unaudited Financial Statements by more than $200,000; provided that any increases in license fees resulting from a volume increase, additional licenses or other change in the operation of Business post Closing shall not be breaches of this representation.
(k) Buyer and Sellers agree that the representations and warranties included in this Section 4.09 shall be the sole and exclusive representations and warranties of Sellers with respect to Intellectual Property matters in this Agreement.licensee or
Appears in 2 contracts
Samples: Asset Purchase Agreement, Asset Purchase Agreement (Instinet Group Inc)
Intellectual Property. (a) Schedule 4.09(a) sets forth a true and complete list of all (i) Registered Intellectual Property included in the Owned Intellectual Property, indicating for each item the registration or application number, the registration or application date, Parent Issuer and the applicable filing jurisdiction and Guarantors own (iior have valid licenses with respect to) Owned Intellectual Property that is not registered but that is material to the operation of the Business. Sellers exclusively own all, all right, title and interest in and to all Owned trademarks and service marks, tradenames, patents, copyrights and trade secrets identified on Schedule 4.14 (collectively, the “Intellectual PropertyProperty”)(other than pending patent applications and any docketed disclosures), free and clear of all Encumbrances Liens, other than Liens permitted pursuant to Section 5.12(a). Except for Intellectual Property relating to WiMAX technology, as to which no representation is made herein, the Intellectual Property constitutes all such property as is material to the conduct of the business of Parent Issuer and the Guarantors. All material Intellectual Property (other than Permitted Encumbrances). Sellers are not bound by pending patent applications and any outstanding judgmentdocketed disclosures) is subsisting, injunctionin full force and effect, order or decree or any contractual obligation materially restricting the use by a Seller of the Owned Intellectual Property, or materially restricting the licensing thereof to any Person. With respect to the Registered Intellectual Property included in the Owned Intellectual Property listed on Schedule 4.09(a), (i) all such Registered Intellectual Property and is subsisting and, to Sellers’ Knowledge, valid and enforceable, (ii) a Seller is the owner of record, and (iii) all maintenance fees and filings that are required to be made to maintain such Registered Intellectual Property have been timely made (taking into account any applicable grace periods).
(b) As of the date hereof, none of the owned or licensed Intellectual Property is subject to any outstanding order, ruling decree, judgment or stipulation to which Parent Issuer or any of its Subsidiaries is or has been made a party.
(c) Except as set forth on Schedule 4.09(b4.14, as of the date hereof, there are no agreements or arrangements (including covenants not to xxx, non-assertion, settlement or similar agreements or consents) sets forthto which Parent Issuer or any of its Subsidiaries is a party (i) pursuant to which any of the owned Intellectual Property has been licensed to or used by any Person other than Parent Issuer or any of its Subsidiaries, or at which permits use by any such other Person; or (ii) that restrict the Closing will set forthrights of Parent Issuer or any of its Subsidiaries to use or enforce any of the owned Intellectual Property.
(d) To the knowledge of Parent Issuer and the Company, a true the conduct of the business of Parent Issuer and complete list of all its Subsidiaries does not infringe upon, misappropriate or otherwise violate the Intellectual Property Licensesrights of any other Person, except that no representation or warranty is made relating to the development of the Company’s WiMAX technology and products. Except as set forth on Schedule 4.09(b)4.15, Sellers have provided Buyer with true and complete copies of all such Intellectual Property Licenses. All such Intellectual Property Licenses are, to Sellers’ Knowledge, valid, binding and enforceable between the applicable Seller and the other parties thereto, and Seller and, to Sellers’ Knowledge, such other parties are in compliance with the material terms and conditions of such Intellectual Property Licenses.
(c) To Sellers’ Knowledge, the conduct as of the Business as currently conducted does not infringedate hereof, misappropriateno claim or demand of any Person against Parent Issuer or its Subsidiaries has been made, dilute nor is there any proceeding that is pending or otherwise violateto the knowledge of Parent Issuer or the Company threatened, and which (in any such case) (i) challenges the past three (3) years has not infringed, misappropriated rights of Parent Issuer or otherwise violated, its Subsidiaries in respect of any Intellectual Property rights or (ii) asserts that Parent Issuer or any of any Third Party. Sellers have not received any notice that Sellers’ use of the Transferred Intellectual Property in the conduct of the Business as currently conducted infringes, misappropriates, dilutes its Subsidiaries is infringing or otherwise violatesin conflict with, or in the past three (3) years has infringedis required to pay any royalty, misappropriated license fee, charge or otherwise violatedother amount with regard to, any Intellectual Property Rights of any Third Party. No Proceedings are pending and no written notices have been received by Sellers during the past three (3) years (or earlier, if presently not resolved), in each case, alleging any infringement, misappropriation or other violation by Sellers of the Intellectual Property rights of any Third Party. Except as set forth in Schedule 4.09(c), to Sellers’ Knowledge, during the past three (3) years (or earlier, if presently not resolved) no Person has infringed, misappropriated, diluted or otherwise violated any of the Owned Intellectual Property or Transferred Technology, and no Seller has made or asserted any claim, demand or notice against any person or entity alleging any such infringement, misappropriation, dilution or other violation. There is no Proceeding pending or, to Sellers’ Knowledge, threatened, challenging a Seller’s ownership of any Owned Intellectual Property, or its right to use any Transferred Intellectual Property, or challenging the validity, registrability, or enforceability of any Registered Intellectual Property included in the Owned Intellectual Property.
(de) Sellers represent that they are, each as applicable, the registrant of record of each domain name Except as set forth in on Schedule 4.09(d4.15, as of the date hereof, to the knowledge of Parent Issuer and the Company, no Person is infringing upon or misappropriating, or has infringed upon or misappropriated (i) (collectively, the “Domain Names”).
(e) Sellers have taken commercially reasonable measures to protect the confidentiality of all Trade Secrets included in the Owned any owned Intellectual Property and no material Trade Secrets have been disclosed by Sellers or the rights of Parent Issuer or any of its Subsidiaries in any owned Intellectual Property or (ii) any Intellectual Property licensed to Parent Issuer or any Person except pursuant to written non-disclosure agreements of its Subsidiaries or other obligations the rights of confidentiality, and, to Sellers’ Knowledge, there has not been a breach Parent Issuer or any of any such agreement or obligation by any such Personits Subsidiaries therein.
(f) To Seller’s KnowledgeExcept to the extent Parent Issuer or the Company, Sellers have obtained from each Person (including current and former employees and independent contractors) who in its commercially reasonable judgment, has created or developed for or on behalf of Sellers any Owned determined otherwise, the Intellectual Property that is material to the Business a written, present and, valid assignment capable of such Intellectual Property to a Sellerregistration, filing or issuance has been duly registered with, filed in or issued by, as the case may be, the United States Patent and Trademark Office or the United States Copyright Office.
(g) To Sellers’ Knowledge, in the past three (3) years, there has been no All material unauthorized access to or material unauthorized use licenses of any confidential or proprietary information or data that is both in Sellers’ possession or control and material to the Business.
(h) With respect to any material Software included within the Transferred Intellectual Property, to Sellers’ Knowledge (i) such Software is free from any material bugs, viruses or other malicious code, (ii) the Source Code for such Software has not been disclosed to any Third Party, and (iii) such Software does not contain, derive from or link to any open source Software in a manner that requires the disclosure of any proprietary Source Code, limits the ability to charge fees, or grants any license to any Third Party to make derivative works.
(i) Neither the execution, delivery or performance of this Agreement, nor the consummation of the transactions contemplated by the Ancillary Agreements will result in the material loss or impairment of any of the Owned Intellectual Property.
(j) All third-party code that is incorporated into the proprietary Software included in the Transferred Intellectual Property to Parent Issuer and that is critical to the operation each of such Software is commercially available (each a “Critical IP License” its Subsidiaries are valid and collectively “Critical IP Licenses”), and following Closing, Buyer will be able to procure a license for all such third-party code for (i) an aggregate amount during the one-year period immediately following the Closing that shall not exceed the amount reflected for such third-party code in the Unaudited Financial Statements by more than $200,000, and (ii) an aggregate amount during the twelve (12) months period following the initial one-year period immediately following Closing that shall not exceed the amount reflected for such third-party code in the Unaudited Financial Statements by more than $200,000; provided that any increases in license fees resulting from a volume increase, additional licenses or other change in the operation of Business post Closing shall not be breaches of this representationenforceable.
(k) Buyer and Sellers agree that the representations and warranties included in this Section 4.09 shall be the sole and exclusive representations and warranties of Sellers with respect to Intellectual Property matters in this Agreement.
Appears in 2 contracts
Samples: Third Lien Subordinated Exchange Note Exchange Agreement (Navation, Inc.), Third Lien Subordinated Exchange Note Exchange Agreement (Manchester Financial Group, LP)
Intellectual Property. (a) Schedule 4.09(a) sets forth a true and complete list All of all (i) Registered Intellectual Property included in the Owned Intellectual Property, indicating for each item the registration Property is owned by Issuer or application number, the registration or application date, and the applicable filing jurisdiction and (ii) Owned Intellectual Property that is not registered but that is material to the operation of the Business. Sellers exclusively own all, right, title and interest in all Owned Intellectual Propertya Subsidiary, free and clear of all Encumbrances (Encumbrances, and all of the Licensed Intellectual Property is held by Issuer or a Subsidiary pursuant to valid and subsisting licenses or sublicenses. The rights of Issuer and the Subsidiaries in, to, or under such Owned Intellectual Property and Licensed Intellectual Property do not conflict with or infringe on the rights of any other than Permitted Encumbrances)Person. Sellers are not bound by No Action has been made or asserted or is pending, nor, to the best knowledge of Issuer, has any outstanding judgmentsuch Action been threatened, injunction, order or decree against Issuer or any contractual obligation materially restricting Subsidiary either based upon or challenging or seeking to deny or restrict the use by a Seller Issuer or any Subsidiary of the Owned Intellectual Property, or materially restricting the licensing thereof to any Person. With respect to the Registered Intellectual Property included in the Owned Intellectual Property listed on Schedule 4.09(a), (i) all such Registered Intellectual Property is subsisting and, to Sellers’ Knowledge, valid and enforceable, (ii) a Seller is the owner of record, and (iii) all maintenance fees and filings that are required to be made to maintain such Registered Intellectual Property have been timely made (taking into account any applicable grace periods).
(b) Schedule 4.09(b) sets forth, or at the Closing will set forth, a true and complete list of all Intellectual Property Licenses. Except as set forth on Schedule 4.09(b), Sellers have provided Buyer with true and complete copies of all such Intellectual Property Licenses. All such Intellectual Property Licenses are, to Sellers’ Knowledge, valid, binding and enforceable between the applicable Seller and the other parties thereto, and Seller and, to Sellers’ Knowledge, such other parties are in compliance with the material terms and conditions of such Intellectual Property Licenses.
(c) To Sellers’ Knowledge, the conduct of the Business as currently conducted does not infringe, misappropriate, dilute or otherwise violate, and in the past three (3) years has not infringed, misappropriated or otherwise violated, any Intellectual Property rights of any Third Party. Sellers have not received any notice that Sellers’ use of the Transferred Intellectual Property in the conduct of the Business as currently conducted infringes, misappropriates, dilutes or otherwise violates, or in the past three (3) years has infringed, misappropriated or otherwise violated, any Intellectual Property Rights of any Third Party. No Proceedings are pending and no written notices have been received by Sellers during the past three (3) years (or earlier, if presently not resolved), in each case, alleging any infringement, misappropriation or other violation by Sellers of the Intellectual Property rights of any Third Party. Except as set forth in Schedule 4.09(c), to Sellers’ Knowledge, during the past three (3) years (or earlier, if presently not resolved) no Person has infringed, misappropriated, diluted or otherwise violated any of the Owned Intellectual Property or Transferred TechnologyLicensed Intellectual Property or alleging that any services provided, and no Seller has made or asserted products manufactured or sold by Issuer or any claimSubsidiary are being provided, demand manufactured, or notice against any person or entity alleging any such infringement, misappropriation, dilution or other violation. There is no Proceeding pending or, to Sellers’ Knowledge, threatened, challenging a Seller’s ownership sold in violation of any Owned Intellectual Property, or its right to use any Transferred Intellectual Property, or challenging the validity, registrability, or enforceability Property of any Registered Person. To the best knowledge of Issuer, no Person is using any Intellectual Property included in the Owned Intellectual Property.
(d) Sellers represent that they are, each as applicable, the registrant of record of each domain name as set forth in Schedule 4.09(d) (collectively, the “Domain Names”).
(e) Sellers have taken commercially reasonable measures is confusingly similar to protect the confidentiality of all Trade Secrets included in the Owned Intellectual Property and no material Trade Secrets have been disclosed by Sellers to any Person except pursuant to written non-disclosure agreements or other obligations of confidentiality, and, to Sellers’ Knowledge, there has not been a breach of any such agreement the Licensed Intellectual Property or obligation by any such Person.
(f) To Seller’s Knowledge, Sellers have obtained from each Person (including current and former employees and independent contractors) who has created or developed for or on behalf of Sellers any that infringe upon the Owned Intellectual Property that is material to or the Business a written, present and, valid assignment of such Licensed Intellectual Property or upon the rights of Issuer or any Subsidiary therein, thereto, or thereunder. Neither Issuer nor any Subsidiary has granted any license or sublicense or other right to a Seller.
(g) To Sellers’ Knowledge, in the past three (3) years, there has been no material unauthorized access to or material unauthorized use of any confidential or proprietary information or data that is both in Sellers’ possession or control and material to the Business.
(h) With other Person with respect to any material Software included within of the Transferred Owned Intellectual Property or the Licensed Intellectual Property, to Sellers’ Knowledge (i) such Software is free from any material bugs, viruses or other malicious code, (ii) the Source Code for such Software has not been disclosed to any Third Party, and (iii) such Software does not contain, derive from or link to any open source Software in a manner that requires the disclosure of any proprietary Source Code, limits the ability to charge fees, or grants any license to any Third Party to make derivative works.
(i) Neither the execution, delivery or performance of this Agreement, nor the . The consummation of the transactions contemplated by the Ancillary Agreements hereby will not result in the material loss termination or impairment of any of the Owned Intellectual Property or the Licensed Intellectual Property. To the best knowledge of Issuer, no employee of Issuer or any Subsidiary has violated any proprietary information agreement, employment agreement, or similar Contract, which such employee had with any previous employer, or any Intellectual Property policy of any such employer, or is a party to any Action relating to Intellectual Property.
(j) All third-party code that is incorporated into the proprietary Software included in the Transferred Intellectual Property and that is critical to the operation of such Software is commercially available (each a “Critical IP License” and collectively “Critical IP Licenses”), and following Closing, Buyer will be able to procure a license for all such third-party code for (i) an aggregate amount during the one-year period immediately following the Closing that shall not exceed the amount reflected for such third-party code in the Unaudited Financial Statements by more than $200,000, and (ii) an aggregate amount during the twelve (12) months period following the initial one-year period immediately following Closing that shall not exceed the amount reflected for such third-party code in the Unaudited Financial Statements by more than $200,000; provided that any increases in license fees resulting from a volume increase, additional licenses or other change in the operation of Business post Closing shall not be breaches of this representation.
(k) Buyer and Sellers agree that the representations and warranties included in this Section 4.09 shall be the sole and exclusive representations and warranties of Sellers with respect to Intellectual Property matters in this Agreement.
Appears in 2 contracts
Samples: Subscription Agreement (Grill Concepts Inc), Subscription Agreement (Eaturna LLC)
Intellectual Property. (a) Schedule 4.09(a) 5.8 sets forth a true complete and complete correct list of all (i) Registered Intellectual Property included in the Owned Intellectual PropertyCopyrights, indicating for each item the registration or application number, the registration or application dateTrademarks, and Patents owned by or licensed to or from any Borrower or a Subsidiary of any Borrower as of the applicable filing jurisdiction and (ii) Owned Intellectual Property that is not registered but that is material Closing Date which are necessary to the operation business or financial condition of the Business. Sellers exclusively own allBorrowers and their Subsidiaries (collectively, right, title and interest in all Owned Intellectual Property, free and clear of all Encumbrances (other than Permitted Encumbrances“Material IP”). Sellers are not bound by Borrowers and each Subsidiary of Borrowers, as applicable, own or possess the right to use, and have done nothing to authorize or enable any outstanding judgmentother Person, injunction, order or decree or any contractual obligation materially restricting the use by a Seller of the Owned Intellectual Property, or materially restricting the licensing thereof to any Person. With respect to the Registered Intellectual Property included except as disclosed in the Owned Intellectual Property listed on Schedule 4.09(a), (i) all such Registered Intellectual Property is subsisting and5.8, to Sellers’ Knowledgeuse, any Material IP listed in Schedule 5.8 and all registrations listed in Schedule 5.8 are valid and enforceablein full force and effect. Borrowers and each Subsidiary of Borrowers, (ii) a Seller is as applicable, own or possess the owner of record, and (iii) right to use all maintenance fees and filings that are required to be made to maintain such Registered Intellectual Property have been timely made (taking into account any applicable grace periods).Material IP listed in Schedule 5.8;
(b) Schedule 4.09(b) 5.8 sets forth, or at the Closing will set forth, forth a true complete and complete correct list of all Intellectual Property Licenseslicenses and other user agreements to the extent constituting or affecting any Material IP (collectively, “Material IP Agreements”) on the Closing Date. Except as set forth on Schedule 4.09(b), Sellers Borrowers and each Subsidiary of Borrowers have provided Buyer with true full right and complete copies of authority to use all such Intellectual Property Licenses. All such Intellectual Property Licenses are, Material IP subject to Sellers’ Knowledge, valid, binding and enforceable between the applicable Seller and the other parties thereto, and Seller each Material IP Agreement; and, to Sellers’ Knowledge, such other parties are in compliance with the material terms and conditions of such Intellectual Property Licenses.
(ci) To Sellers’ Knowledgeany Borrower’s knowledge, the conduct there is no violation by others of the Business as currently conducted does not infringeany right of any Borrower or any Subsidiary of any Borrower with respect to any Material IP listed in Schedule 5.8; (ii) to any Borrower’s knowledge, misappropriate, dilute no Borrower or otherwise violate, and any Subsidiary of any Borrower is infringing in the past three (3) years has not infringed, misappropriated or otherwise violated, any respect upon any Intellectual Property rights of any Third Party. Sellers other Person; (iii) no proceedings have not received been instituted or are pending against any notice that Sellers’ use of the Transferred Intellectual Property in the conduct of the Business as currently conducted infringes, misappropriates, dilutes Borrower or otherwise violates, or in the past three (3) years has infringed, misappropriated or otherwise violated, any Intellectual Property Rights a Subsidiary of any Third Party. No Proceedings are pending Borrower or, to any Borrower’s knowledge, threatened, and no written notices have claim against any Borrower or a Subsidiary of any Borrower has been received by Sellers during the past three (3) years (any Borrower or earlier, if presently not resolved), in each case, alleging any infringement, misappropriation or other violation by Sellers of the Intellectual Property rights a Subsidiary of any Third Party. Except as set forth in Schedule 4.09(c), to Sellers’ Knowledge, during the past three (3) years (or earlier, if presently not resolved) no Person has infringed, misappropriated, diluted or otherwise violated any of the Owned Intellectual Property or Transferred Technology, and no Seller has made or asserted any claim, demand or notice against any person or entity Borrower alleging any such infringement, misappropriation, dilution or other violation. There is no Proceeding pending or, to Sellers’ Knowledge, threatened, challenging a Seller’s ownership of any Owned Intellectual Property, or its right to use any Transferred Intellectual Property, or challenging the validity, registrability, or enforceability of any Registered Intellectual Property included in the Owned Intellectual Property.
(d) Sellers represent that they areTo any Borrower’s knowledge, each as applicable, the registrant no Borrower or any Subsidiary of record of each domain name as set forth in Schedule 4.09(d) (collectively, the “Domain Names”).
(e) Sellers have taken commercially reasonable measures to protect the confidentiality of all Trade Secrets included any Borrower owns any Trademark registered in the Owned Intellectual Property and no material Trade Secrets have been disclosed United States of America which would be rendered invalid, abandoned, void or unenforceable by Sellers to any Person except pursuant to written non-disclosure agreements or other obligations reason of confidentiality, and, to Sellers’ Knowledge, there has not been a breach of any such agreement or obligation by any such Person.
(f) To Seller’s Knowledge, Sellers have obtained from each Person (including current and former employees and independent contractors) who has created or developed for or on behalf of Sellers any Owned Intellectual Property that is material to the Business a written, present and, valid assignment of such Intellectual Property to a Seller.
(g) To Sellers’ Knowledge, in the past three (3) years, there has been no material unauthorized access to or material unauthorized use of any confidential or proprietary information or data that is both in Sellers’ possession or control and material to the Business.
(h) With respect to any material Software its being included within the Transferred Intellectual Property, to Sellers’ Knowledge (i) such Software is free from any material bugs, viruses or other malicious code, (ii) the Source Code for such Software has not been disclosed to any Third Party, and (iii) such Software does not contain, derive from or link to any open source Software in a manner that requires the disclosure of any proprietary Source Code, limits the ability to charge fees, or grants any license to any Third Party to make derivative works.
(i) Neither the execution, delivery or performance of this Agreement, nor the consummation as part of the transactions contemplated by the Ancillary Agreements will result in the material loss or impairment of any of the Owned Intellectual PropertyLoan Collateral.
(j) All third-party code that is incorporated into the proprietary Software included in the Transferred Intellectual Property and that is critical to the operation of such Software is commercially available (each a “Critical IP License” and collectively “Critical IP Licenses”), and following Closing, Buyer will be able to procure a license for all such third-party code for (i) an aggregate amount during the one-year period immediately following the Closing that shall not exceed the amount reflected for such third-party code in the Unaudited Financial Statements by more than $200,000, and (ii) an aggregate amount during the twelve (12) months period following the initial one-year period immediately following Closing that shall not exceed the amount reflected for such third-party code in the Unaudited Financial Statements by more than $200,000; provided that any increases in license fees resulting from a volume increase, additional licenses or other change in the operation of Business post Closing shall not be breaches of this representation.
(k) Buyer and Sellers agree that the representations and warranties included in this Section 4.09 shall be the sole and exclusive representations and warranties of Sellers with respect to Intellectual Property matters in this Agreement.
Appears in 2 contracts
Samples: Credit Agreement (Industrial Services of America Inc /Fl), Credit Agreement (Industrial Services of America Inc /Fl)
Intellectual Property. (a) Set forth on Schedule 4.09(a) sets forth 2.17 of the Vyteris Schedule of Exceptions is a true and complete list list, as of the date hereof, of all material patents, trademarks, trade names, service marks, and registered copyrights (i) Registered and all pending applications or current registrations for any of the foregoing), and all licenses granted to Vyteris by third parties of patent rights, trademark rights, trade name rights and service mark rights (together with trade secrets and know how used in the coxxxxt of Vyteris' business, the "Vyteris Intellectual Property included in the Owned Intellectual Property, indicating for each item the registration or application number, the registration or application date, and the applicable filing jurisdiction and (ii) Owned Intellectual Property that is not registered but that is material to the operation of the Business. Sellers exclusively own all, right, title and interest in all Owned Intellectual Property, free and clear of all Encumbrances (other than Permitted EncumbrancesRights"). Sellers are not bound by any outstanding judgment, injunction, order or decree or any contractual obligation materially restricting the use by a Seller of the Owned Intellectual Property, or materially restricting the licensing thereof to any Person. With respect to the Registered Intellectual Property included in the Owned Intellectual Property listed on Schedule 4.09(a), (i) all such Registered Intellectual Property is subsisting and, to Sellers’ Knowledge, valid and enforceable, (ii) a Seller is the owner of record, and (iii) all maintenance fees and filings that are required to be made to maintain such Registered Intellectual Property have been timely made (taking into account any applicable grace periods).
(b) Schedule 4.09(b) sets forth, or at the Closing will set forth, a true and complete list of all Intellectual Property Licenses. Except as set forth on Schedule 4.09(b)2.17 of the Vyteris Schedule of Exceptions, Sellers have provided Buyer with true and complete copies to the knowledge of Vyteris, Vyteris owns, or has validly licensed or otherwise has the right to use or exploit, as currently used or exploited, all such of the Vyteris Intellectual Property LicensesRights, free of any lien or any obligation to make any payment (whether of a royalty, license fee, compensation or otherwise). All such To the knowledge of Vyteris after due inquiry, no claims are pending or threatened against Vyteris to the effect that Vyteris is infringing or otherwise violating the rights of any person with regard to any Vyteris Intellectual Property Licenses areRight or that any Vyteris Intellectual Property Right is invalid or unenforceable. To the knowledge of Vyteris, no person is infringing the rights of Vyteris with respect to any Vyteris Intellectual Property Right nor, to Sellers’ Knowledgethe knowledge of Vyteris, validhas any person threatened to do so. To the knowledge of Vyteris, binding and enforceable between the applicable Seller and the other parties theretoneither Vyteris, and Seller andnor any of its employees, to Sellers’ Knowledgeagents or independent contractors, such other parties are in compliance connection with the material terms and conditions performance of such Intellectual Property Licensesperson's services with Vyteris, as the case may be, has used, appropriated or disclosed, directly or indirectly, any trade secret or other proprietary or confidential information of any other person without the right to do so, or otherwise violated any confidential relationship with any other person, other than such actions that did not have, or could not reasonably be expected to have, a Material Adverse Effect on Vyteris.
(cb) To Sellers’ Knowledge, the conduct of the Business as currently conducted does not infringe, misappropriate, dilute or otherwise violate, and in the past three (3) years has not infringed, misappropriated or otherwise violated, any Intellectual Property rights of any Third Party. Sellers have not received any notice that Sellers’ use of the Transferred Intellectual Property in the conduct of the Business as currently conducted infringes, misappropriates, dilutes or otherwise violates, or in the past three (3) years has infringed, misappropriated or otherwise violated, any Intellectual Property Rights of any Third Party. No Proceedings are pending and no written notices have been received by Sellers during the past three (3) years (or earlier, if presently not resolved), in each case, alleging any infringement, misappropriation or other violation by Sellers of the Intellectual Property rights of any Third Party. Except as set forth in on Schedule 4.09(c), to Sellers’ Knowledge, during the past three (3) years (or earlier, if presently not resolved) no Person has infringed, misappropriated, diluted or otherwise violated any 2.17 of the Owned Intellectual Property or Transferred Technology, and no Seller has made or asserted any claim, demand or notice against any person or entity alleging any such infringement, misappropriation, dilution or other violation. There is no Proceeding pending or, to Sellers’ Knowledge, threatened, challenging a Seller’s ownership Vyteris Schedule of any Owned Intellectual Property, or its right to use any Transferred Intellectual Property, or challenging the validity, registrability, or enforceability of any Registered Intellectual Property included in the Owned Intellectual Property.
(d) Sellers represent that they are, each as applicable, the registrant of record of each domain name as set forth in Schedule 4.09(d) (collectively, the “Domain Names”).
(e) Sellers have taken commercially reasonable measures to protect the confidentiality of all Trade Secrets included in the Owned Intellectual Property and no material Trade Secrets have been disclosed by Sellers to any Person except pursuant to written non-disclosure agreements or other obligations of confidentiality, and, to Sellers’ Knowledge, there has not been a breach of any such agreement or obligation by any such Person.
(f) To Seller’s Knowledge, Sellers have obtained from each Person (including current and former employees and independent contractors) who has created or developed for or on behalf of Sellers any Owned Intellectual Property that is material to the Business a written, present and, valid assignment of such Intellectual Property to a Seller.
(g) To Sellers’ Knowledge, in the past three (3) years, there has been no material unauthorized access to or material unauthorized use of any confidential or proprietary information or data that is both in Sellers’ possession or control and material to the Business.
(h) With respect to any material Software included within the Transferred Intellectual Property, to Sellers’ Knowledge (i) such Software is free from any material bugs, viruses or other malicious code, (ii) the Source Code for such Software has not been disclosed to any Third Party, and (iii) such Software does not contain, derive from or link to any open source Software in a manner that requires the disclosure of any proprietary Source Code, limits the ability to charge fees, or grants any license to any Third Party to make derivative works.Exceptions:
(i) Neither All former and current consultants or contractors of Vyteris have executed and delivered written instruments with Vyteris, that assign to Vyteris all rights to any inventions, improvements, discoveries or information developed by them. All employees of Vyteris who participated in the execution, delivery creation or performance of this Agreement, nor contributed to the consummation development of the transactions contemplated by the Ancillary Agreements will result in the material loss or impairment of any of the Owned Intellectual Property.
(j) All third-party code that is incorporated into the proprietary Software included in the Transferred Vyteris Intellectual Property Rights were employees of Vyteris at the time of rendering such services, such services were within the scope of their employment and that is critical such employees have validly assigned any rights to the operation of such Software is commercially available (each a “Critical IP License” and collectively “Critical IP Licenses”), and following Closing, Buyer will be able Vyteris Intellectual Property Rights to procure a license for all such third-party code for (i) an aggregate amount during the one-year period immediately following the Closing that shall not exceed the amount reflected for such third-party code in the Unaudited Financial Statements by more than $200,000, and Vyteris; and
(ii) an aggregate amount during Vyteris has taken all such security measures as it has determined are commercially reasonable and appropriate, including entering into appropriate confidentiality and nondisclosure agreements with all of its employees, consultants and contractors, and any other persons with access to the twelve (12) months period following trade secrets or know how of Vyteris, to protect the initial one-year period immediately following Closing secrecy, confidentiality and value of all such trade secrets or know how. There has not been any breach by Vyteris, nor, to the knowledge of Vyteris, any other party to any such agreement, other than such actions that shall could not exceed the amount reflected for such third-party code in the Unaudited Financial Statements by more than $200,000; provided that any increases in license fees resulting from reasonably be expected to have a volume increase, additional licenses or other change in the operation of Business post Closing shall not be breaches of this representationMaterial Adverse Effect on Vyteris.
(k) Buyer and Sellers agree that the representations and warranties included in this Section 4.09 shall be the sole and exclusive representations and warranties of Sellers with respect to Intellectual Property matters in this Agreement.
Appears in 2 contracts
Samples: Merger Agreement (Treasure Mountain Holdings Inc), Merger Agreement (Kimberlin Kevin)
Intellectual Property. (a) Schedule 4.09(a) sets forth To Borrower’s Knowledge, IP Owner either owns or has a true and complete list of valid enforceable right to use all (i) Registered Intellectual Property included in the Owned Intellectual Property, indicating for each item the registration or application number, the registration or application date, and the applicable filing jurisdiction and (ii) Owned including all Intellectual Property that is not registered but that is material to set forth on the IP Schedule, necessary for the current conduct of CPLV Tenant’s business and the operation of the Business. Sellers exclusively own all, right, title and interest in all Owned Intellectual Property, free and clear of all Encumbrances (other than Permitted Encumbrances). Sellers are not bound by any outstanding judgment, injunction, order or decree or any contractual obligation materially restricting the use by a Seller of the Owned Intellectual Property, or materially restricting the licensing thereof to any Person. With respect to the Registered Intellectual Property included in the Owned Intellectual Property listed on Schedule 4.09(a), (i) all such Registered Intellectual Property is subsisting and, to Sellers’ Knowledge, valid and enforceable, (ii) a Seller is the owner of record, and (iii) all maintenance fees and filings that are required to be made to maintain such Registered Intellectual Property have been timely made (taking into account any applicable grace periods).
(b) Schedule 4.09(b) sets forth, or at the Closing will set forth, a true and complete list of all Intellectual Property Licenses. Except as set forth on Schedule 4.09(b), Sellers have provided Buyer with true and complete copies of all such Intellectual Property Licenses. All such Intellectual Property Licenses are, to Sellers’ Knowledge, valid, binding and enforceable between the applicable Seller and the other parties thereto, and Seller and, to Sellers’ Knowledge, such other parties are in compliance with the material terms and conditions of such Intellectual Property Licenses.
(c) To Sellers’ Knowledge, the conduct of the Business as currently conducted does not infringe, misappropriate, dilute or otherwise violate, and in the past three (3) years has not infringed, misappropriated or otherwise violated, any Intellectual Property rights of any Third Party. Sellers have not received any notice that Sellers’ use of the Transferred Intellectual Property in the conduct of the Business as currently conducted infringes, misappropriates, dilutes or otherwise violates, or in the past three (3) years has infringed, misappropriated or otherwise violated, any Intellectual Property Rights of any Third Party. No Proceedings are pending and no written notices have been received by Sellers during the past three (3) years (or earlier, if presently not resolved), in each case, alleging any infringement, misappropriation or other violation by Sellers of the Intellectual Property rights of any Third Party. Except as set forth in Schedule 4.09(c), to Sellers’ Knowledge, during the past three (3) years (or earlier, if presently not resolved) no Person has infringed, misappropriated, diluted or otherwise violated any of the Owned Intellectual Property or Transferred Technology, and no Seller has made or asserted any claim, demand or notice against any person or entity alleging any such infringement, misappropriation, dilution or other violation. There is no Proceeding pending or, to Sellers’ Knowledge, threatened, challenging a Seller’s ownership of any Owned Intellectual Property, or its right to use any Transferred Intellectual Property, or challenging the validity, registrability, or enforceability of any Registered Intellectual Property included in the Owned Intellectual Property.
(d) Sellers represent that they are, each as applicable, the registrant of record of each domain name as set forth in Schedule 4.09(d) (collectively, the “Domain NamesCPLV Intellectual Property”).
(e) Sellers have taken commercially reasonable measures . To Borrower’s Knowledge, IP Owner is duly qualified under applicable law in each jurisdiction in which it is required to protect be qualified pursuant to applicable Legal Requirements in order to act as a licensor or licensee of the confidentiality of all Trade Secrets included in the Owned aforementioned CPLV Intellectual Property and sublicensor under the applicable IP Licenses. Attached hereto as Schedule 4.1.44 hereof is a complete and accurate list of the material registrations and pending applications for CPLV Intellectual Property owned by CPLV Tenant, anywhere in the world, and all material IP Licenses necessary for the current conduct of CPLV Tenant’s business and the operation of the Property, including exclusive IP Licenses to which CPLV Tenant is an exclusive licensee (the “IP Schedule”). There are no material Trade Secrets actions or proceedings pending against Borrower, or to Borrower’s Knowledge, pending against IP Owner or threatened by or against Borrower or IP Owner: (x) alleging the infringement, dilution, misappropriation, or other violation of any CPLV Intellectual Property or (y) seeking to limit, cancel, or question the validity or enforceability of any IP Collateral (including, without limitation, the right to proceeds therefrom and the right to bring an action at law or in equity for any infringement, dilution, or violation of such CPLV Intellectual Property and to collect all damages, settlements, and proceeds relating to such CPLV Intellectual Property), or IP Owner’s rights or interests therein, or use thereof. To Borrower’s Knowledge, no Person has interfered with, infringed upon, diluted, misappropriated, or otherwise come into conflict with any CPLV Intellectual Property of IP Owner other than to the extent the same would not reasonably be expected to have been disclosed a Material Adverse Effect. To Borrower’s Knowledge, neither the CPLV Intellectual Property owned by Sellers IP Owner nor IP Owner’s use of any CPLV Intellectual Property is subject to any Person except pursuant to written non-disclosure agreements outstanding injunction, judgment, order, decree, ruling, or other obligations of confidentiality, and, to Sellers’ charge. To Borrower’s Knowledge, there IP Owner has made all filings and recordations necessary to adequately effect, reflect, and protect IP Owner’s ownership in, right to use, or its license of CPLV Intellectual Property used or held for the use, ownership, management, leasing, renovation, financing, development, operation and maintenance of the Property by CPLV Tenant. To Borrower’s Knowledge, (x) all Intellectual Property set forth on the IP Schedule is subsisting, unexpired, has not been a breach abandoned in any applicable jurisdiction, (y) is valid and enforceable and (z) the use of the IP Collateral in the manner in which it is currently used or intended to be used does not infringe, dilute, misappropriate, or otherwise violate the rights of any such agreement or obligation by Person in any such Person.
material respect, other than, in each case of (fx) To Seller’s Knowledgethrough (z), Sellers have obtained from each Person (including current and former employees and independent contractors) who has created or developed for or on behalf of Sellers any Owned Intellectual Property that is material to the Business extent the same would not reasonably be expected to have a written, present and, valid assignment of such Intellectual Property to a SellerMaterial Adverse Effect.
(g) To Sellers’ Knowledge, in the past three (3) years, there has been no material unauthorized access to or material unauthorized use of any confidential or proprietary information or data that is both in Sellers’ possession or control and material to the Business.
(h) With respect to any material Software included within the Transferred Intellectual Property, to Sellers’ Knowledge (i) such Software is free from any material bugs, viruses or other malicious code, (ii) the Source Code for such Software has not been disclosed to any Third Party, and (iii) such Software does not contain, derive from or link to any open source Software in a manner that requires the disclosure of any proprietary Source Code, limits the ability to charge fees, or grants any license to any Third Party to make derivative works.
(i) Neither the execution, delivery or performance of this Agreement, nor the consummation of the transactions contemplated by the Ancillary Agreements will result in the material loss or impairment of any of the Owned Intellectual Property.
(j) All third-party code that is incorporated into the proprietary Software included in the Transferred Intellectual Property and that is critical to the operation of such Software is commercially available (each a “Critical IP License” and collectively “Critical IP Licenses”), and following Closing, Buyer will be able to procure a license for all such third-party code for (i) an aggregate amount during the one-year period immediately following the Closing that shall not exceed the amount reflected for such third-party code in the Unaudited Financial Statements by more than $200,000, and (ii) an aggregate amount during the twelve (12) months period following the initial one-year period immediately following Closing that shall not exceed the amount reflected for such third-party code in the Unaudited Financial Statements by more than $200,000; provided that any increases in license fees resulting from a volume increase, additional licenses or other change in the operation of Business post Closing shall not be breaches of this representation.
(k) Buyer and Sellers agree that the representations and warranties included in this Section 4.09 shall be the sole and exclusive representations and warranties of Sellers with respect to Intellectual Property matters in this Agreement.
Appears in 2 contracts
Samples: Loan Agreement, Loan Agreement (Vici Properties Inc.)
Intellectual Property. (ai) Schedule 4.09(a) IP sets forth a true true, complete and complete accurate list of of: (A) all (i) Registered registrations or applications for patents, trademarks or copyrights for the Transferred Intellectual Property included owned by the Manager or any of its Subsidiaries; (B) the Transferred Intellectual Property necessary for the conduct of the Business as conducted as of the Effective Date or currently contemplated to be conducted; and (C) all licenses to Transferred Intellectual Property to which the Manager or any of its Subsidiaries is a party (other than licenses for off-the-shelf computer software that is generally available to the public on commercially reasonable terms). Except as set forth in Schedule IP, no Person has any joint ownership rights in any Transferred Intellectual Property owned by the Owned Manager or any of its Subsidiaries. Other than the licenses to Transferred Intellectual PropertyProperty listed in Schedule IP, indicating neither the Manager nor any of its Subsidiaries has granted any license to any Person for each item any Transferred Intellectual Property owned by the registration Manager or application numberany such Subsidiary. Other than Transferred Intellectual Property listed in Schedule IP, there is no other material Intellectual Property necessary for the registration or application date, and conduct of the applicable filing jurisdiction and Business.
(ii) Owned As of the Closing Date, the Manager will own or otherwise have the right to use all of the Transferred Intellectual Property that is not registered but that is material to necessary for the operation conduct of the Business. Sellers exclusively own all, right, title and interest in all Owned Intellectual PropertyBusiness as it is currently conducted, free and clear of all Encumbrances (other than Permitted Encumbrances). Sellers are This representation is not bound by to be interpreted as providing any outstanding judgment, injunction, order or decree or any contractual obligation materially restricting the use by a Seller representation of the Owned Intellectual Property, or materially restricting the licensing thereof to any Person. With respect to the Registered Intellectual Property included in the Owned Intellectual Property listed on Schedule 4.09(a), (i) all such Registered Intellectual Property is subsisting and, to Sellers’ Knowledge, valid and enforceable, (ii) a Seller is the owner of record, and non-infringement.
(iii) all maintenance fees and filings that are required to be made to maintain such Registered Intellectual Property have been timely made (taking into account any applicable grace periods).
(b) Schedule 4.09(b) sets forth, or at To the Closing will set forth, a true and complete list of all Intellectual Property Licenses. Except as set forth on Schedule 4.09(b), Sellers have provided Buyer with true and complete copies of all such Intellectual Property Licenses. All such Intellectual Property Licenses are, to Sellers’ Knowledge, valid, binding and enforceable between the applicable Seller and the other parties thereto, and Seller and, to Sellers’ Knowledge, such other parties are in compliance with the material terms and conditions of such Intellectual Property Licenses.
(c) To Sellers’ Knowledge, the conduct Knowledge of the Business as currently conducted does not infringeManager, misappropriate, dilute or otherwise violate, and in the past three (3) years has not infringed, misappropriated or otherwise violated, any Intellectual Property rights of any Third Party. Sellers have not received any notice that Sellers’ use of the Transferred Intellectual Property in the conduct of the Business as currently conducted infringes, misappropriates, dilutes has not and does not infringe upon or otherwise violates, or in the past three (3) years has infringed, misappropriated or otherwise violated, any Intellectual Property Rights of any Third Party. No Proceedings are pending and no written notices have been received by Sellers during the past three (3) years (or earlier, if presently not resolved), in each case, alleging any infringement, misappropriation or other violation by Sellers of misappropriate the Intellectual Property rights of any Third Partyother Person. Except as set forth in Schedule 4.09(c)In addition, to Sellers’ Knowledgethe Knowledge of the Manager, during none of the past three (3) years (Transferred Intellectual Property owned by the Manager or earlier, if presently not resolved) no Person has infringed, misappropriated, diluted or otherwise violated any of the Owned Intellectual Property its Subsidiaries is being infringed upon, violated or Transferred Technology, and no Seller has made or asserted any claim, demand or notice against any person or entity alleging any such infringement, misappropriation, dilution or other violation. There is no Proceeding pending or, to Sellers’ Knowledge, threatened, challenging a Seller’s ownership of any Owned Intellectual Property, or its right to use any Transferred Intellectual Property, or challenging the validity, registrability, or enforceability of any Registered Intellectual Property included in the Owned Intellectual Property.
(d) Sellers represent that they are, each as applicable, the registrant of record of each domain name as set forth in Schedule 4.09(d) (collectively, the “Domain Names”).
(e) Sellers have taken commercially reasonable measures to protect the confidentiality of all Trade Secrets included in the Owned Intellectual Property and no material Trade Secrets have been disclosed by Sellers to any Person except pursuant to written non-disclosure agreements or other obligations of confidentiality, and, to Sellers’ Knowledge, there has not been a breach of any such agreement or obligation misappropriated by any such other Person.
(fiv) To Seller’s Knowledge, Sellers have obtained from each Person (including current and former employees and independent contractors) who has created or developed for or on behalf of Sellers any Owned Intellectual Property that is material to the Business a written, present and, valid assignment of such Intellectual Property to a Seller.
(g) To Sellers’ Knowledge, in the past three (3) years, there has been no material unauthorized access to or material unauthorized use of any confidential or proprietary information or data that is both in Sellers’ possession or control and material to the Business.
(h) With respect to any material Software included within the Transferred Intellectual Property, to Sellers’ Knowledge (i) such Software is free from any material bugs, viruses or other malicious code, (ii) the Source Code for such Software has not been disclosed to any Third Party, and (iii) such Software does not contain, derive from or link to any open source Software in a manner that requires the disclosure of any proprietary Source Code, limits the ability to charge fees, or grants any license to any Third Party to make derivative works.
(i) Neither the execution, delivery or performance of this Agreement, nor the consummation Consummation of the transactions contemplated by the Ancillary Agreements Transactions will not result in the material loss or impairment imposition of any material financial obligation on the part of the Owned Intellectual Property.
(j) All third-party code that is incorporated into REIT or the proprietary Software included in OP arising from the transfer of the Transferred Intellectual Property and that is critical pursuant to the operation Transaction Documents.
(v) In each case in which the Manager or any of its Subsidiaries has acquired or sought to acquire ownership of any Transferred Intellectual Property from any Person, including as a result of engaging such Software is commercially available Person as a consultant, advisor, employee or independent contractor to independently or jointly conceive, reduce to practice, create or develop any Transferred Intellectual Property on behalf of the Manager (each a an “Critical IP License” and collectively “Critical IP LicensesAuthor”), the Manager or such Subsidiary has obtained unencumbered and following Closingunrestricted exclusive ownership of, Buyer will be able by a written, valid and enforceable assignment sufficient to procure a license for irrevocably transfer, all such third-party code for (i) an aggregate amount during the one-year period immediately following the Closing that shall not exceed the amount reflected for such third-party code in the Unaudited Financial Statements by more than $200,000, and (ii) an aggregate amount during the twelve (12) months period following the initial one-year period immediately following Closing that shall not exceed the amount reflected for such third-party code in the Unaudited Financial Statements by more than $200,000; provided that any increases in license fees resulting from a volume increase, additional licenses or other change in the operation of Business post Closing shall not be breaches of this representation.
(k) Buyer and Sellers agree that the representations and warranties included in this Section 4.09 shall be the sole and exclusive representations and warranties of Sellers with respect to Intellectual Property matters in this Agreementand has obtained from such Authors the waiver of all non-assignable rights, including of any moral rights.
Appears in 2 contracts
Samples: Contribution Agreement, Contribution Agreement (Starwood Waypoint Residential Trust)
Intellectual Property. (a) Schedule 4.09(aSection 5.26(a) of the MAF Disclosure Letter sets forth a true and complete list of all each item of (i) Registered Intellectual Property included owned by MAF or any MAF Subsidiary in the Owned Intellectual Propertyits business that is registered with, or subject to application for registration with, any Governmental Authority or Internet domain name registrar, indicating for each such item the registration or application numberowner, the registration or application date, number and the applicable filing jurisdiction jurisdiction, and (ii) Owned Intellectual Property for which MAF or any MAF Subsidiary has a license to use that is not registered but that is otherwise material to the operation business of MAF or any MAF Subsidiary, except for licenses to “off-the-shelf” software that is generally commercially available. To the BusinessKnowledge of MAF, all such registrations with and applications to Governmental Authorities with respect to the Intellectual Property owned by MAF or any MAF Subsidiary are valid and in full force and effect. Sellers exclusively own all, right, title and interest in all Owned The Intellectual Property, Property owned by MAF or any MAF Subsidiary is owned free and clear of all Encumbrances (other than Permitted Encumbrances)Liens. Sellers are not bound The Intellectual Property owned or used by any outstanding judgment, injunction, order or decree MAF or any contractual obligation materially restricting the use by a Seller of the Owned Intellectual Property, or materially restricting the licensing thereof to any Person. With respect to the Registered Intellectual Property included in the Owned Intellectual Property listed on Schedule 4.09(a), (i) all such Registered Intellectual Property is subsisting and, to Sellers’ Knowledge, valid and enforceable, (ii) a Seller is the owner of record, and (iii) all maintenance fees and filings that are required to MAF Subsidiary will not be made to maintain such Registered Intellectual Property have been timely made (taking into account any applicable grace periods).
(b) Schedule 4.09(b) sets forth, or at the Closing will set forth, a true and complete list of all Intellectual Property Licenses. Except as set forth on Schedule 4.09(b), Sellers have provided Buyer with true and complete copies of all such Intellectual Property Licenses. All such Intellectual Property Licenses are, to Sellers’ Knowledge, valid, binding and enforceable between the applicable Seller and the other parties thereto, and Seller and, to Sellers’ Knowledge, such other parties are in compliance with the material terms and conditions of such Intellectual Property Licenses.
(c) To Sellers’ Knowledge, the conduct of the Business as currently conducted does not infringe, misappropriate, dilute limited or otherwise violate, and in the past three (3) years has not infringed, misappropriated or otherwise violated, any Intellectual Property rights adversely affected by virtue of any Third Party. Sellers have not received any notice that Sellers’ use of the Transferred Intellectual Property in the conduct of the Business as currently conducted infringes, misappropriates, dilutes or otherwise violates, or in the past three (3) years has infringed, misappropriated or otherwise violated, any Intellectual Property Rights of any Third Party. No Proceedings are pending and no written notices have been received by Sellers during the past three (3) years (or earlier, if presently not resolved), in each case, alleging any infringement, misappropriation or other violation by Sellers of the Intellectual Property rights of any Third Party. Except as set forth in Schedule 4.09(c), to Sellers’ Knowledge, during the past three (3) years (or earlier, if presently not resolved) no Person has infringed, misappropriated, diluted or otherwise violated any of the Owned Intellectual Property or Transferred Technology, and no Seller has made or asserted any claim, demand or notice against any person or entity alleging any such infringement, misappropriation, dilution or other violation. There is no Proceeding pending or, to Sellers’ Knowledge, threatened, challenging a Seller’s ownership of any Owned Intellectual Property, or its right to use any Transferred Intellectual Property, or challenging the validity, registrability, or enforceability of any Registered Intellectual Property included in the Owned Intellectual Property.
(d) Sellers represent that they are, each as applicable, the registrant of record of each domain name as set forth in Schedule 4.09(d) (collectively, the “Domain Names”).
(e) Sellers have taken commercially reasonable measures to protect the confidentiality of all Trade Secrets included in the Owned Intellectual Property and no material Trade Secrets have been disclosed by Sellers to any Person except pursuant to written non-disclosure agreements or other obligations of confidentiality, and, to Sellers’ Knowledge, there has not been a breach of any such agreement or obligation by any such Person.
(f) To Seller’s Knowledge, Sellers have obtained from each Person (including current and former employees and independent contractors) who has created or developed for or on behalf of Sellers any Owned Intellectual Property that is material to the Business a written, present and, valid assignment of such Intellectual Property to a Seller.
(g) To Sellers’ Knowledge, in the past three (3) years, there has been no material unauthorized access to or material unauthorized use of any confidential or proprietary information or data that is both in Sellers’ possession or control and material to the Business.
(h) With respect to any material Software included within the Transferred Intellectual Property, to Sellers’ Knowledge (i) such Software is free from any material bugs, viruses or other malicious code, (ii) the Source Code for such Software has not been disclosed to any Third Party, and (iii) such Software does not contain, derive from or link to any open source Software in a manner that requires the disclosure of any proprietary Source Code, limits the ability to charge fees, or grants any license to any Third Party to make derivative works.
(i) Neither the execution, delivery or performance of this Agreement, nor the consummation of the transactions contemplated by this Agreement.
(b) None of the Ancillary Agreements will result in Intellectual Property owned or used by MAF or any MAF Subsidiary, to the material loss Knowledge of MAF, is subject to any outstanding Governmental Order or impairment agreement adversely affecting MAF’s or any MAF Subsidiary’s use thereof or rights thereto. There is no Action pending, asserted or, to the Knowledge of MAF, threatened against MAF or any MAF Subsidiary concerning the ownership, validity, registerability, enforceability, infringement or use of, any Intellectual Property or the licensed right to use any Intellectual Property owned or used by MAF or any MAF Subsidiary.
(c) To the Knowledge of MAF, none of the Intellectual Property owned or used by MAF or any MAF Subsidiary, nor the conduct of the businesses of MAF or any MAF Subsidiary infringes upon or misappropriates the rights of any third party, and neither MAF nor any MAF Subsidiary has received any claim, any cease and desist or equivalent letter or any other written notice of any allegation that any of the Owned Intellectual PropertyProperty owned or used by MAF or any MAF Subsidiary infringes upon, misappropriates or otherwise violates the Intellectual Property of any third party. Neither MAF nor any MAF Subsidiary has received any written opinions of counsel (outside or inside) relating to infringement, invalidity or unenforceability of any Intellectual Property owned or used by MAF or any MAF Subsidiary. To the Knowledge of MAF, no third party is infringing or misappropriating any Intellectual Property right owned or used by MAF or any MAF Subsidiary.
(jd) All third-party MAF and each MAF Subsidiary, as applicable, have taken commercially reasonable steps to protect and preserve the secrecy and confidentiality of the trade secrets and source code that is incorporated into the proprietary Software included in the Transferred Intellectual Property and that is critical to listed in Section 5.26(a) of the operation of such Software is commercially available (each a “Critical IP License” and collectively “Critical IP Licenses”), and following Closing, Buyer will be able to procure a license for all such third-party code for (i) an aggregate amount during the one-year period immediately following the Closing that shall not exceed the amount reflected for such third-party code in the Unaudited Financial Statements by more than $200,000, and (ii) an aggregate amount during the twelve (12) months period following the initial one-year period immediately following Closing that shall not exceed the amount reflected for such third-party code in the Unaudited Financial Statements by more than $200,000; provided that any increases in license fees resulting from a volume increase, additional licenses or other change in the operation of Business post Closing shall not be breaches of this representationMAF Disclosure Letter.
(k) Buyer and Sellers agree that the representations and warranties included in this Section 4.09 shall be the sole and exclusive representations and warranties of Sellers with respect to Intellectual Property matters in this Agreement.
Appears in 2 contracts
Samples: Merger Agreement (Maf Bancorp Inc), Merger Agreement (National City Corp)
Intellectual Property. (a) Schedule 4.09(a) sets forth a true a. To the Knowledge of the Shareholders and complete list TST neither TST nor any of all (i) Registered its Subsidiaries has ever received any charge, complaint, claim, demand, or notice alleging any interference, infringement, misappropriation, or violation of any rights of Intellectual Property included rights of third parties in any material respect(including any claim that any of TST and its Subsidiaries must license or refrain from using any Intellectual Property rights of any third party). To the Owned Knowledge of the Shareholders, no third party has interfered with, infringed upon, misappropriated, or violated any material Intellectual Property rights of any of TST and its Subsidiaries in any material respect.
b. To the Knowledge of Shareholders and TST, Exhibit C identifies each patent, copyright or registration which has been issued to either TST or any of its Subsidiaries with respect to any of its Intellectual Property; identifies each pending patent or copyright application or application for registration which either TST or any of its Subsidiaries has made with respect to any of its Intellectual Property; identifies each material license, agreement, or other permission which either TST or any of its Subsidiaries has granted to any third party with respect to any of its Intellectual Property (together with any exceptions); and identifies each and every other item of Intellectual Property, indicating for each item the registration whether or application numbernot patented (or pending), the registration copyrighted (or application dateapplied for), and the applicable filing jurisdiction and registered (iior applied for) Owned Intellectual Property that is not registered but that is material necessary or useful to the operation business of the Business. Sellers exclusively own all, right, title and interest in all Owned Intellectual Property, free and clear of all Encumbrances (other than Permitted Encumbrances). Sellers are not bound by any outstanding judgment, injunction, order or decree TST or any contractual obligation materially restricting the use by a Seller of the Owned Intellectual Property, its Subsidiaries as presently conducted or materially restricting the licensing thereof as planned or projected in projections delivered to any PersonBrokat. With respect TST has delivered to the Registered Intellectual Property included in the Owned Intellectual Property listed on Schedule 4.09(a), (i) all such Registered Intellectual Property is subsisting and, to Sellers’ Knowledge, valid and enforceable, (ii) a Seller is the owner of record, and (iii) all maintenance fees and filings that are required to be made to maintain such Registered Intellectual Property have been timely made (taking into account any applicable grace periods).
(b) Schedule 4.09(b) sets forth, or at the Closing will set forth, a true and complete list of all Intellectual Property Licenses. Except as set forth on Schedule 4.09(b), Sellers have provided Buyer with true Brokat correct and complete copies of all such patents, registrations, applications, licenses, agreements, and permissions (as amended to date). Exhibit C also identifies each material trade or service name or xxxx, and unregistered trade or service name or xxxx used by TST or any of its Subsidiaries in connection with any of their businesses. With respect to each item of Intellectual Property Licenses. All such Intellectual Property Licenses arerequired to be identified in Exhibit C, to Sellers’ Knowledgethe Knowledge of the Shareholders and TST:
i. TST and its Subsidiaries possess all right, valid, binding and enforceable between the applicable Seller and the other parties theretotitle, and Seller andinterest in and to the item, free and clear of any Security Interest, license, or other restriction;
ii. the item is not subject to Sellers’ Knowledgeany outstanding injunction, such other parties are in compliance with judgment, order, decree, ruling, or charge;
iii. no action, suit, proceeding, hearing, investigation, charge, complaint, claim, or demand is pending or is threatened which challenges the material terms and conditions of such Intellectual Property Licenses.
(c) To Sellers’ Knowledgelegality, the conduct validity, enforceability, use, or ownership of the Business as currently conducted does not infringe, misappropriate, dilute or otherwise violate, and item; and
iv. Except in the past three (3) years has not infringedOrdinary Course of Business, misappropriated or otherwise violated, any Intellectual Property rights of any Third Party. Sellers have not received any notice that Sellers’ use of the Transferred Intellectual Property in the conduct of the Business as currently conducted infringes, misappropriates, dilutes or otherwise violates, or in the past three (3) years has infringed, misappropriated or otherwise violated, any Intellectual Property Rights of any Third Party. No Proceedings are pending and no written notices have been received by Sellers during the past three (3) years (or earlier, if presently not resolved), in each case, alleging any infringement, misappropriation or other violation by Sellers of the Intellectual Property rights of any Third Party. Except as set forth in Schedule 4.09(c), to Sellers’ Knowledge, during the past three (3) years (or earlier, if presently not resolved) no Person has infringed, misappropriated, diluted or otherwise violated neither TST nor any of the Owned Intellectual Property its Subsidiaries has ever agreed to indemnify any Person for or Transferred Technology, and no Seller has made or asserted any claim, demand or notice against any person or entity alleging any such interference, infringement, misappropriation, dilution or other violation. There is no Proceeding pending or, conflict with respect to Sellers’ Knowledge, threatened, challenging a Seller’s ownership of any Owned Intellectual Property, or its right to use any Transferred Intellectual Property, or challenging the validity, registrability, or enforceability of any Registered Intellectual Property included in the Owned Intellectual Propertyitem.
(d) Sellers represent that they arec. To the Knowledge of Shareholders and TST, Exhibit D identifies each as applicable, the registrant material item of record of each domain name as set forth in Schedule 4.09(d) (collectively, the “Domain Names”).
(e) Sellers have taken commercially reasonable measures to protect the confidentiality of all Trade Secrets included in the Owned Intellectual Property and no material Trade Secrets have been disclosed by Sellers to any Person except pursuant to written non-disclosure agreements or other obligations of confidentiality, and, to Sellers’ Knowledge, there has not been a breach of any such agreement or obligation by any such Person.
(f) To Seller’s Knowledge, Sellers have obtained from each Person (including current and former employees and independent contractors) who has created or developed for or on behalf of Sellers any Owned Intellectual Property that is material any third party owns and that TST or any of its Subsidiaries uses pursuant to the Business a writtenlicense, present andsublicense, valid assignment agreement, or permission. TST has delivered to Brokat correct and complete copies of all such Intellectual Property licenses, sublicenses, agreements, and permissions (as amended to a Seller.
(g) To Sellers’ Knowledge, in the past three (3) years, there has been no material unauthorized access to or material unauthorized use of any confidential or proprietary information or data that is both in Sellers’ possession or control and material to the Business.
(h) date). With respect to each item of Intellectual Property required to be identified in Exhibit D, to the Knowledge of the Shareholders and TST:
i. the license, sublicense, agreement, or permission covering the item is legal, valid, binding, enforceable, and in full force and effect in all material respects;
ii. TST and its Subsidiaries are not and no other party to the license, sublicense, agreement, or permission is in material breach or default, and no event has occurred which with notice or lapse of time would constitute a material breach or default or permit termination, modification, or acceleration thereunder;
iii. no party to the license, sublicense, agreement, or permission has repudiated any material Software included within the Transferred Intellectual Property, to Sellers’ Knowledge (i) such Software is free from any material bugs, viruses or other malicious code, (ii) the Source Code for such Software has not been disclosed to any Third Party, and (iii) such Software does not contain, derive from or link to any open source Software in a manner that requires the disclosure of any proprietary Source Code, limits the ability to charge fees, or grants any license to any Third Party to make derivative works.provision thereof; and
(i) Neither the execution, delivery or performance of this Agreement, iv. neither TST nor the consummation of the transactions contemplated by the Ancillary Agreements will result in the material loss or impairment of any of the Owned Intellectual Property.
(j) All third-party code that is incorporated into the proprietary Software included in the Transferred Intellectual Property and that is critical to the operation of such Software is commercially available (each a “Critical IP License” and collectively “Critical IP Licenses”), and following Closing, Buyer will be able to procure a license for all such third-party code for (i) an aggregate amount during the one-year period immediately following the Closing that shall not exceed the amount reflected for such third-party code in the Unaudited Financial Statements by more than $200,000, and (ii) an aggregate amount during the twelve (12) months period following the initial one-year period immediately following Closing that shall not exceed the amount reflected for such third-party code in the Unaudited Financial Statements by more than $200,000; provided that its Subsidiaries has granted any increases in license fees resulting from a volume increase, additional licenses sublicense or other change in the operation of Business post Closing shall not be breaches of this representation.
(k) Buyer and Sellers agree that the representations and warranties included in this Section 4.09 shall be the sole and exclusive representations and warranties of Sellers similar right with respect to Intellectual Property matters the license, sublicense, agreement, or permission, except to customers as necessary in this Agreementthe Ordinary Course of Business.
Appears in 2 contracts
Samples: Stock Purchase Agreement (Brokat Aktiengesellschaft), Stock Purchase Agreement (Brokat Infosystems Ag)
Intellectual Property. (a) Section 3.10(a) of the Merger Partner Disclosure Schedule 4.09(a) sets forth a true lists all Merger Partner Registrations, in each case enumerating specifically the applicable filing or registration number, title, jurisdiction in which filing was made or from which registration issued, date of filing or issuance, and complete list names of all current applicant(s) and registered owners(s), as applicable. All assignments of Merger Partner Registrations to Merger Partner have been properly executed and recorded, or are in process, and all issuance, renewal, maintenance and other payments that have become due with respect thereto have been timely paid by or on behalf of Merger Partner. To the knowledge of Merger Partner, all Merger Partner Registrations are valid and enforceable.
(ib) Registered Intellectual Property There are no inventorship challenges, inter partes proceedings, opposition or nullity proceedings or interferences declared, commenced or provoked, or, to the knowledge of Merger Partner, threatened, with respect to any Patent Rights included in the Owned Intellectual PropertyMerger Partner Registrations. To the knowledge of Merger Partner, indicating for each item the registration or application number, the registration or application date, Merger Partner has complied with its duty of candor and the applicable filing jurisdiction and (ii) Owned Intellectual Property that is not registered but that is material disclosure to the operation United States Patent and Trademark Office and any relevant foreign patent office with respect to all patent and trademark applications filed by or on behalf of Merger Partner and has made no material misrepresentation in such applications. Merger Partner has no knowledge of any information that would preclude Merger Partner from having clear title to the Business. Sellers exclusively own all, right, title Merger Partner Registrations.
(c) Merger Partner is the sole and interest in exclusive owner of all Merger Partner Owned Intellectual Property, free and clear of all Encumbrances (any Liens, other than Permitted Encumbrances). Sellers are not bound by any outstanding judgment, injunction, order or decree or any contractual obligation materially restricting the use by a Seller joint owners of the Merger Partner Owned Intellectual Property that are listed in Section 3.10(c) of the Merger Partner Disclosure Schedule.
(d) To Merger Partner’s knowledge, the Merger Partner Intellectual Property constitutes all Intellectual Property necessary to conduct Merger Partner’s business in the manner currently conducted and currently proposed by Merger Partner to be conducted in the future.
(e) Merger Partner has taken reasonable measures to protect the proprietary nature of each item of Merger Partner Owned Intellectual Property, and to maintain in confidence all trade secrets and confidential information comprising a part thereof. To Merger Partner’s knowledge, there has been no unauthorized disclosure of any third party proprietary or materially restricting the licensing thereof to any Person. With respect to the Registered Intellectual Property included confidential information in the Owned Intellectual Property listed on Schedule 4.09(a)possession, (i) all such Registered Intellectual Property is subsisting and, to Sellers’ Knowledge, valid and enforceable, (ii) a Seller is the owner custody or control of record, and (iii) all maintenance fees and filings that are required to be made to maintain such Registered Intellectual Property have been timely made (taking into account any applicable grace periods)Merger Partner.
(b) Schedule 4.09(b) sets forth, or at the Closing will set forth, a true and complete list of all Intellectual Property Licenses. Except as set forth on Schedule 4.09(b), Sellers have provided Buyer with true and complete copies of all such Intellectual Property Licenses. All such Intellectual Property Licenses are, to Sellers’ Knowledge, valid, binding and enforceable between the applicable Seller and the other parties thereto, and Seller and, to Sellers’ Knowledge, such other parties are in compliance with the material terms and conditions of such Intellectual Property Licenses.
(cf) To Sellers’ Knowledgethe knowledge of Merger Partner, the conduct operations of the Business Merger Partner and its Subsidiaries as currently conducted does do not infringe, misappropriate, dilute or otherwise violate, and have not in the past three (3five years infringe(d) years has not infringed, misappropriated or otherwise violated, any misappropriate(d) the Intellectual Property rights of any Third Party. Sellers have not received any notice that Sellers’ use individual or entity, or constitute(d) unfair competition or trade practices under the Laws of the Transferred Intellectual Property jurisdiction in the conduct of the Business as currently conducted infringeswhich such operations are conducted. To Merger Partner’s knowledge, misappropriates, dilutes no individual or otherwise violates, or in the past three (3) years entity has infringed, misappropriated or otherwise violated, any violated the Merger Partner Owned Intellectual Property Rights of or any Third Party. No Proceedings are pending and no written notices have been received by Sellers during rights under the past three (3) years (or earlier, if presently not resolved), in each case, alleging any infringement, misappropriation or other violation by Sellers of the Merger Partner Licensed Intellectual Property rights that are exclusively licensed to Merger Partner or any of its Subsidiaries, and neither Merger Partner nor any Third Party. Except as set forth of its Subsidiaries has filed or threatened in Schedule 4.09(c), to Sellers’ Knowledge, during the past three (3) years (writing any claims alleging that a third party or earlier, if presently not resolved) no Person Worker has infringed, misappropriated, diluted misappropriated or otherwise violated any Merger Partner Intellectual Property. No individual or entity has filed and served upon Merger Partner or any of its Subsidiaries or, to Merger Partner’s knowledge, threatened or otherwise filed any action or proceeding alleging that Merger Partner or any of its Subsidiaries has infringed, misappropriated or otherwise violated any individual’s or entity’s Intellectual Property rights nor has Merger Partner or any of its Subsidiaries received any written notification that a license under any other individual’s or entity’s Intellectual Property is or may be required.
(g) To the knowledge of Merger Partner, no individual or entity (including any current or former Worker of Merger Partner) is infringing, violating, misappropriating, using in an unauthorized manner or disclosing in an unauthorized manner any of the Merger Partner Owned Intellectual Property or Transferred Technology, and no Seller any Merger Partner Licensed Intellectual Property. Merger Partner has made available copies of all correspondence, analyses, legal opinions, complaints, claims, notices or asserted any claim, demand threats prepared or notice against any person or entity alleging any such received by Merger Partner concerning the infringement, misappropriationviolation or misappropriation of any Merger Partner Intellectual Property.
(h) Section 3.10(h) of the Merger Partner Disclosure Schedule identifies each license, dilution covenant or other violation. There is no Proceeding pending oragreement pursuant to which Merger Partner has assigned, transferred, licensed, distributed or otherwise granted any right or access to Sellers’ Knowledgeany individual or entity, threatenedor covenanted not to assert any right, challenging a Seller’s ownership of with respect to any Owned past, existing or future Merger Partner Intellectual Property, .
(i) Section 3.10(i) of the Merger Partner Disclosure Schedule identifies (i) each license or its right agreement pursuant to use which Merger Partner has obtained rights to any Transferred Intellectual Property, or challenging the validity, registrability, or enforceability of any Registered Merger Partner Licensed Intellectual Property included (excluding generally available, off the shelf software programs that are licensed by Merger Partner pursuant to “shrink wrap” licenses, the total fees associated with which are less than $50,000) and (ii) each agreement, contract, assignment or other instrument pursuant to which Merger Partner has obtained any joint or sole ownership interest in the or to each item of Merger Partner Owned Intellectual Property.
(dj) Sellers represent that they areTo Merger Partner’s knowledge, each no Worker of Merger Partner or any of its Subsidiaries is in material default or breach of any term of any employment Contract, non-disclosure Contract, assignment of invention Contract or similar Contract between such Worker and Merger Partner or its Subsidiary, as applicable, relating to the registrant protection, ownership, development, use or transfer of record Merger Partner Intellectual Property. Each Worker of each domain name as set forth in Schedule 4.09(d) (collectivelyMerger Partner or its Subsidiary has executed an employment Contract, the “Domain Names”).
(e) Sellers have taken commercially reasonable measures to protect the confidentiality of all Trade Secrets included in the Owned Intellectual Property and no material Trade Secrets have been disclosed by Sellers to any Person except pursuant to written non-disclosure agreements Contract, assignment of invention Contract or other obligations of confidentialitysimilar Contract assigning to Merger Partner or its Subsidiary, andas the case may be, to Sellers’ Knowledge, there has not been a breach of any such agreement or obligation by any such Person.
(f) To Seller’s Knowledge, Sellers have obtained from each Person (including current and former employees and independent contractors) who has created or developed for or on behalf of Sellers any Merger Partner Owned Intellectual Property that is material to the Business a writtenwas conceived, present and, valid assignment developed or created for Merger Partner or any of its Subsidiaries by such Intellectual Property to a SellerWorker.
(g) To Sellers’ Knowledge, in the past three (3) years, there has been no material unauthorized access to or material unauthorized use of any confidential or proprietary information or data that is both in Sellers’ possession or control and material to the Business.
(h) With respect to any material Software included within the Transferred Intellectual Property, to Sellers’ Knowledge (i) such Software is free from any material bugs, viruses or other malicious code, (ii) the Source Code for such Software has not been disclosed to any Third Party, and (iii) such Software does not contain, derive from or link to any open source Software in a manner that requires the disclosure of any proprietary Source Code, limits the ability to charge fees, or grants any license to any Third Party to make derivative works.
(ik) Neither the negotiation, execution, delivery or performance of this Agreement, nor the consummation of the transactions contemplated by the Ancillary Agreements hereby, will result in the material loss or impairment of any of the Owned Intellectual Property.
(j) All third-party code that is incorporated into the proprietary Software included in the Transferred Intellectual Property and that is critical to the operation of such Software is commercially available (each a “Critical IP License” and collectively “Critical IP Licenses”), and following Closing, Buyer will be able to procure a license for all such third-party code for (i) an aggregate amount during a material breach of or default under any agreement to which Merger Partner is a party governing any Merger Partner Intellectual Property, (ii) a material impairment of the one-year period immediately following rights of Merger Partner in or to any Merger Partner Intellectual Property or portion thereof, (iii) the Closing that shall grant or transfer to any third party of any new license or other interest under, the abandonment, assignment to any third party, or modification or loss of any right with respect to, or the creation of any Lien on, any Merger Partner Intellectual Property, (iv) Merger Partner or any of its Affiliates being obligated to pay any penalty or new or increased royalty or fee to any individual or entity under any agreement governing any Merger Partner Intellectual Property, or (v) Merger Partner or any of its Affiliates being (A) bound by or subject to any noncompete or licensing obligation or covenant not exceed the amount reflected for such third-party code to sxx or (B) obligated to license any of its Intellectual Property to (or obligated not to assert its Intellectual Property against) any individual or entity, except in the Unaudited Financial Statements by more than $200,000, case of clauses (i) and (ii) an aggregate amount during the twelve (12of this Section 3.10(k) months period following the initial one-year period immediately following Closing that shall not exceed the amount reflected for any such third-party code breach, default or impairment that, individually or in the Unaudited Financial Statements by more than $200,000; provided that any increases in license fees resulting from aggregate, have not had, and are not reasonably likely to result in, the loss of a volume increasematerial benefit to, additional licenses or other change in the operation creation of Business post Closing shall not be breaches of this representationany material liability for, Merger Partner.
(kl) Buyer and Sellers agree that the representations and warranties included in this Section 4.09 shall be the sole and exclusive representations and warranties For purposes of Sellers with respect to Intellectual Property matters in this Agreement., the following terms shall have the following meanings:
Appears in 2 contracts
Samples: Merger Agreement (Amergent Hospitality Group, Inc), Merger Agreement (Chanticleer Holdings, Inc.)
Intellectual Property. (a) Schedule 4.09(a) sets forth a true and complete list of all (i) Registered 18.1 All rights, including Intellectual Property included Rights and database rights, in and used in connection with the Owned Intellectual Property, indicating for each item the registration or application numberProducts, the registration or application date, Personal Data and the applicable filing jurisdiction all other material and (ii) Owned Intellectual Property that is not registered but that is material data supplied to the operation of Partner by CPW pursuant to this Agreement or supplied by Prospective Customers or Customers to the Business. Sellers exclusively own allPartner ("Rights"), are and shall remain vested in CPW absolutely who may use the same as it so wishes and grant licences in respect thereof as it so wishes.
18.2 The Partner hereby assigns to CPW, with full title guarantee free from all encumbrances all present and future right, title and interest it may acquire in any such Rights. The Partner shall at CPW’s request from time to time (and notwithstanding termination) sign and execute such documents and do all Owned Intellectual Property, free such acts and clear things and provide such information and assistance as CPW may reasonably require for the purposes of obtaining or confirming to CPW all Encumbrances (other than Permitted Encumbrances). Sellers are not bound by any outstanding judgment, injunction, order or decree or any contractual obligation materially restricting the use by a Seller of the Owned Intellectual Property, or materially restricting the licensing thereof to any Person. With respect rights and title to the Registered Intellectual Property included Rights and for the purpose of asserting protections in or defending any interest in the Owned Intellectual Property listed on Schedule 4.09(a), (i) all such Registered Intellectual Property is subsisting and, to Sellers’ Knowledge, valid and enforceable, (ii) a Seller is the owner of record, and (iii) all maintenance fees and filings that are required to be made to maintain such Registered Intellectual Property have been timely made (taking into account any applicable grace periods)Rights.
(b) Schedule 4.09(b) sets forth, or at the Closing will set forth, a true and complete list of all Intellectual Property Licenses. Except as set forth on Schedule 4.09(b), Sellers have provided Buyer with true and complete copies of all such Intellectual Property Licenses. All such Intellectual Property Licenses are, to Sellers’ Knowledge, valid, binding and enforceable between the applicable Seller and the other parties thereto, and Seller and, to Sellers’ Knowledge, such other parties are in compliance with the material terms and conditions of such Intellectual Property Licenses.
(c) To Sellers’ Knowledge, the conduct of the Business as currently conducted does not infringe, misappropriate, dilute or otherwise violate, and in the past three (3) years has not infringed, misappropriated or otherwise violated, any Intellectual Property rights of any Third Party. Sellers have not received any notice 18.3 Partner acknowledges that Sellers’ use of the Transferred Intellectual Property in the conduct of the Business as currently conducted infringes, misappropriates, dilutes or otherwise violates, or in the past three (3) years has infringed, misappropriated or otherwise violated, any Intellectual Property Rights of any Third Party. No Proceedings are pending and no written notices have been received by Sellers during the past three (3) years (or earlier, if presently not resolved), in each case, alleging any infringement, misappropriation or other violation by Sellers of the Intellectual Property rights of any Third Party. Except as set forth in Schedule 4.09(c), to Sellers’ Knowledge, during the past three (3) years (or earlier, if presently not resolved) no Person has infringed, misappropriated, diluted or otherwise violated any of the Owned Intellectual Property or Transferred Technology, and no Seller has made or asserted any claim, demand or notice against any person or entity alleging any such infringement, misappropriation, dilution or other violation. There is no Proceeding pending or, to Sellers’ Knowledge, threatened, challenging a Seller’s ownership of any Owned Intellectual Property, or its right to use the CPW Intellectual Property Rights is only as expressly set out in this Agreement. Partner acknowledges and agrees that its use of the CPW Intellectual Property Rights pursuant to this Agreement does not give Partner any Transferred rights, title or interest in the CPW Intellectual PropertyProperty Rights except the right to use the CPW Intellectual Property Rights as expressly permitted by this Agreement, and that all goodwill in or challenging associated with the validityCPW Intellectual Property Rights, registrabilityincluding any goodwill generated by or arising through Partner’s activities under this Agreement accrue for the benefit of, and belong exclusively to, CPW or enforceability any other party nominated by CPW.
18.4 From time to time, Partner may be permitted to use CPW Intellectual Property Rights. In using CPW Intellectual Property Rights, Partner must:
18.4.1 comply with the CPW Brand Guidelines;
18.4.2 ensure that each reference to and use of CPW Intellectual Property Rights is in accordance with any written instructions from CPW or CPW;
18.4.3 observe any marketing guidelines and directions regarding the use of CPW Intellectual Property Rights notified by CPW particularly in respect of all advertising materials, websites and signage;
18.4.4 submit details of any Registered use of CPW Intellectual Property included Rights to CPW at the address notified to Partner for prior approval at least ten (10) Business Day’s before use by Partner. CPW may refuse any use in the Owned Intellectual Propertyits absolute discretion.
(d) Sellers represent that they are18.5 Partner must not:
18.5.1 Alter, each as applicabledestroy, the registrant cover or remove any of record of each domain name as set forth in Schedule 4.09(d) (collectively, the “Domain Names”).
(e) Sellers have taken commercially reasonable measures to protect the confidentiality of all Trade Secrets included in the Owned CPW Intellectual Property and no material Trade Secrets have been disclosed by Sellers Rights ; or
18.5.2 Affix its own trade mark (or that of a third party), either in addition to or in place of any existing CPW Intellectual Property Rights affixed to any Person except pursuant to written non-disclosure agreements Products or other obligations of confidentiality, and, to Sellers’ Knowledge, there has not been a breach of any such agreement or obligation packaging supplied by any such Person.
(f) To Seller’s Knowledge, Sellers have obtained from each Person (including current and former employees and independent contractors) who has created or developed for or on behalf of Sellers CPW or CPW under this Agreement; or, .
18.5.3 licence, permit or otherwise authorise any Owned third party to use CPW Intellectual Property that is material Rights.
18.6 Partner must immediately inform CPW if Partner becomes aware of any improper or wrongful use by any person of CPW Intellectual Property Rights.
18.7 Partner must not do, cause or authorise to be done, anything which may impair, damage or be detrimental to the Business a writtenreputation or goodwill associated with CPW, present andProducts, valid assignment or the CPW Intellectual Property Rights, which may adversely affect the value or validity of CPW Intellectual Property Rights or which may bring CPW Intellectual Property Rights into disrepute or which may jeopardise or invalidate any registration or application of registration of the CPW Intellectual Property Rights or CPW’s title to the CPW Intellectual Property Rights.
18.8 Partner must not use, register, attempt to use or attempt to register any name or any combination of names the same as or similar to "Carphone Warehouse Business", or any other trade name of the CPW Group or any confusingly similar name or mark in its business, including any website domain name, trade name or company name without first having obtained the prior written permission of CPW which may be refused in CPW’s absolute discretion. Partner agrees to comply with all reasonable conditions and instructions (if any) that CPW may attach to the granting of such permission.
18.9 Partner must not register, anywhere in the world, CPW Intellectual Property Rights or any other trade mark which, in CPW’s opinion, is identical or confusingly similar to a Sellerthe CPW Intellectual Property Rights.
18.10 If, for the purposes of Partner performing any of its obligations under this Agreement, it is necessary for Partner to use any software provided by CPW (g) To Sellers’ Knowledge"Software"), then CPW shall grant to Partner a non-exclusive, non-transferable licence to use the Software in accordance with CPW’s direction and licence terms and solely for the past three (3) yearspurpose of fulfilling Partner’s obligations under this Agreement. Partner acknowledges and agrees that, there has been no material unauthorized access to the maximum extent permitted by applicable law, CPW disclaims all warranties, conditions or material unauthorized terms, whether express or implied, including implied warranties, conditions or terms of satisfactory quality or fitness for a particular purpose with respect to the Software, any installation of the Software and any accompanying documentation. Partner acknowledges and agrees that CPW will not have any liability for any loss of, damage to, or corruption of, data caused by the installation and/or use of the Software by Partner. Such licence will automatically terminate at the same time that the Partner’s appointment under this Agreement is terminated for any confidential or proprietary information or data that is both in Sellers’ possession or control and material to the Businessreason.
(h) With respect to any material Software included within 18.11 During the Transferred Intellectual Property, to Sellers’ Knowledge (i) such Software is free from any material bugs, viruses or other malicious code, (ii) the Source Code for such Software has not been disclosed to any Third Party, and (iii) such Software does not contain, derive from or link to any open source Software in a manner that requires the disclosure of any proprietary Source Code, limits the ability to charge fees, or grants any license to any Third Party to make derivative works.
(i) Neither the execution, delivery or performance term of this Agreement, nor CPW may approve and agree from time to time for the consummation Partner and CPW to produce Jointly Branded Advertising Materials. Where CPW obtain such agreement and approval from CPW to produce Jointly Branded Advertising Material the following will apply:
18.11.1 the responsibility for costs of production and distribution of such Jointly Branded Advertising Materials will be agreed at the time;
18.11.2 either CPW or Partner (the "Creator") must submit all elements of the transactions contemplated Jointly Branded Advertising Materials to the other (the "Recipient") for its approval;
18.11.3 if the Recipient rejects any element of the Jointly Branded Advertising Materials submitted by the Ancillary Agreements Creator for approval, the Creator will result in work with the material loss or impairment of Recipient to resolve any of outstanding issues and continue to resubmit such Jointly Branded Advertising Materials until: a- the Owned Intellectual Property.
(j) All third-party code that is incorporated into the proprietary Software included in the Transferred Intellectual Property and that is critical to the operation of such Software is commercially available (each a “Critical IP License” and collectively “Critical IP Licenses”), and following Closing, Buyer will be able to procure a license for all such third-party code for (i) an aggregate amount during the one-year period immediately following the Closing that shall not exceed the amount reflected for such third-party code in the Unaudited Financial Statements by more than $200,000, and (ii) an aggregate amount during the twelve (12) months period following the initial one-year period immediately following Closing that shall not exceed the amount reflected for such third-party code in the Unaudited Financial Statements by more than $200,000Recipient gives its approval; provided that any increases in license fees resulting from a volume increase, additional licenses or other change in the operation of Business post Closing shall not be breaches of this representation.
(k) Buyer and Sellers agree that the representations and warranties included in this Section 4.09 shall be the sole and exclusive representations and warranties of Sellers with respect to Intellectual Property matters in this Agreement.or
Appears in 2 contracts
Samples: Partner Terms and Conditions, Partner Terms and Conditions
Intellectual Property. (a) Schedule 4.09(a) sets forth a true and complete list of all (i) Registered VERITAS owns, or has the right to use, sell or license such Intellectual Property included in Rights (as defined below) as are necessary or required for the Owned Intellectual Property, indicating for each item Conduct of the registration or application number, the registration or application date, and the applicable filing jurisdiction and VERITAS Business (ii) Owned such Intellectual Property that is not registered but that is material Rights being hereinafter collectively referred to as the operation "VERITAS IP RIGHTS") and such ownership or rights to use, sell or license are reasonably sufficient for the Conduct of the VERITAS Business. Sellers exclusively , except for any failure to own allor have the right to use, right, title and interest in all Owned Intellectual Property, free and clear of all Encumbrances (other than Permitted Encumbrances). Sellers are sell or license that would not bound by any outstanding judgment, injunction, order or decree or any contractual obligation materially restricting the use by have a Seller of the Owned Intellectual Property, or materially restricting the licensing thereof to any Person. With respect to the Registered Intellectual Property included in the Owned Intellectual Property listed Material Adverse Effect on Schedule 4.09(a), (i) all such Registered Intellectual Property is subsisting and, to Sellers’ Knowledge, valid and enforceable, (ii) a Seller is the owner of record, and (iii) all maintenance fees and filings that are required to be made to maintain such Registered Intellectual Property have been timely made (taking into account any applicable grace periods)VERITAS.
(b) Schedule 4.09(b) sets forth, or at the Closing will set forth, a true All VERITAS IP Rights are owned free and complete list clear of all Intellectual Property Licenses. Except as set forth on Schedule 4.09(b), Sellers have provided Buyer with true and complete copies of all such Intellectual Property Licenses. All such Intellectual Property Licenses are, to Sellers’ Knowledge, valid, binding and enforceable between the applicable Seller and the other parties thereto, and Seller and, to Sellers’ Knowledge, such other parties are in compliance with the material terms and conditions of such Intellectual Property Licensesany Encumbrances.
(c) To Sellers’ KnowledgeThe execution, delivery and performance of this Agreement and the conduct consummation of the Business as currently conducted does transactions contemplated hereby will not infringe, misappropriate, dilute or otherwise violate, and in the past three (3) years has not infringed, misappropriated or otherwise violated, any Intellectual Property rights constitute a material breach of any Third Party. Sellers have not received any notice that Sellers’ use of the Transferred Intellectual Property material instrument or material agreement in the conduct of the Business as currently conducted infringes, misappropriates, dilutes or otherwise violates, or in the past three (3) years has infringed, misappropriated or otherwise violated, any Intellectual Property Rights respect of any Third Party. No Proceedings are pending and no written notices have been received by Sellers during VERITAS IP Rights (the past three (3) years (or earlier, if presently not resolved"VERITAS IP RIGHTS AGREEMENTS"), in each case, alleging any infringement, misappropriation will not cause the forfeiture or other violation by Sellers termination or give rise to a right of the Intellectual Property rights forfeiture or termination of any Third Party. Except as set forth in Schedule 4.09(cVERITAS IP Right or materially impair the right of Newco to use, sell or license any VERITAS IP Right or portion thereof (except where such breach, forfeiture, termination or impairment would not have a Material Adverse Effect on VERITAS), to Sellers’ Knowledge, during the past three (3) years (or earlier, if presently not resolved) no Person has infringed, misappropriated, diluted or otherwise violated any of the Owned Intellectual Property or Transferred Technology, and no Seller has made or asserted any claim, demand or notice against any person or entity alleging any such infringement, misappropriation, dilution or other violation. There is no Proceeding pending or, to Sellers’ Knowledge, threatened, challenging a Seller’s ownership of any Owned Intellectual Property, or its right to use any Transferred Intellectual Property, or challenging the validity, registrability, or enforceability of any Registered Intellectual Property included in the Owned Intellectual Property.
(d) Sellers represent that they areThere are no royalties, each as applicablehonoraria, fees or other payments payable by any member of the registrant VERITAS Group to any person by reason of record the ownership, use, license, purchase, sale or disposition or acquisition of each domain name as set forth any of the VERITAS IP Rights in Schedule 4.09(d) (collectively, the “Domain Names”)an amount exceeding $100,000 in any one year.
(e) Sellers have taken commercially reasonable measures to protect the confidentiality of all Trade Secrets included in the Owned Intellectual Property and no material Trade Secrets have been disclosed by Sellers to any Person except pursuant to written non-disclosure agreements or other obligations of confidentiality, and, to Sellers’ To VERITAS' Knowledge, there has not been a breach no third party is infringing or misappropriating any of any such agreement or obligation by any such Personthe VERITAS IP Rights.
(f) To Seller’s VERITAS' Knowledge, Sellers have obtained from each Person (including current i) neither the manufacture, marketing, license, sale or intended use of any product currently licensed or sold by VERITAS or any of the VERITAS Subsidiaries or currently under development by VERITAS or any of the VERITAS Subsidiaries violates any license or agreement relating thereto between VERITAS or any of the VERITAS Subsidiaries and former employees and independent contractors) who has created any third party or developed for or on behalf of Sellers infringes any Owned Intellectual Property Right of any other party, (ii) there is no pending or threatened claim or litigation contesting the validity, ownership or right to use, sell, license or dispose of any VERITAS IP Right and (iii) no third party has notified VERITAS that any VERITAS IP Right or the proposed use, sale, license or disposition thereof, conflicts or will conflict with the rights of any other party, nor is material to the Business there any basis therefor except for any violations, infringements, claims or litigation that would not have a written, present and, valid assignment of such Intellectual Property to a SellerMaterial Adverse Effect on VERITAS.
(g) VERITAS has taken reasonable and practicable steps designed to safeguard and maintain the secrecy and confidentiality of, and its proprietary rights in, all material trade secrets or other confidential information constituting VERITAS IP Rights. To Sellers’ VERITAS' Knowledge, no current or prior officers, employees or consultants of VERITAS claim an ownership interest in any VERITAS IP Rights as a result of having been involved in the past three (3) yearsdevelopment of such property while so employed, there has been no material unauthorized access or retained, or otherwise. To VERITAS' Knowledge, all development employees of the VERITAS IP Rights, and all other officers, employees and consultants of VERITAS have executed and delivered to VERITAS or material unauthorized use the VERITAS Subsidiary an agreement regarding the protection of any confidential or proprietary information and the assignment to VERITAS or data that is both in Sellers’ possession the VERITAS Subsidiary of all Intellectual Property Rights arising from the services performed for VERITAS or control and material to the BusinessVERITAS Subsidiary by such persons, except where the absence of such an agreement would not have a Material Adverse Effect on VERITAS.
(h) With Section 3.15(h) of the VERITAS Disclosure Letter sets forth and summarizes each of the VERITAS IP Rights, the absence of which would have a Material Adverse Effect on VERITAS, that a third party owns and that VERITAS uses pursuant to a license, sublicense, agreement or other permission and describes and identifies such license, sublicense, agreement or other permission (excluding shrink wrap licenses to commercially available software sold at retail). Such license, sublicense, agreement or permission covering the item is legal, valid, binding, enforceable and in full force and effect and will continue to be legal, valid, binding, enforceable and in full force and effect on identical terms to Newco's benefit immediately following the Effective Time, except where it would not have a Material Adverse Effect on Newco, and such license, sublicense, agreement or permission does not restrict VERITAS' ability to market any material VERITAS Product in any material jurisdiction or with respect to any material Software included within the Transferred Intellectual Propertymarket or industry, to Sellers’ Knowledge (i) and VERITAS is not in breach or default of any such Software is free from license, sublicense, agreement or permission. No person other than VERITAS holds any material bugs, viruses license or other malicious coderight to manufacture, modify, or create derivative works based on any of the VERITAS Products, other than OEM agreements that would not have a Material Adverse Effect on VERITAS. No person (iiother than Newco) the Source Code for such Software has not been disclosed will be or become entitled to any Third Party, and (iii) such Software does not contain, derive from or link to any open receive a copy of source Software in a manner that requires the disclosure code of any proprietary Source Code, limits software included among the ability to charge fees, or grants any license to any Third Party to make derivative works.
(i) Neither the execution, delivery or performance VERITAS Assets as a result of this Agreement, nor the consummation of the transactions any Ancillary Agreement or any other agreement or transaction contemplated by the Ancillary Agreements will result in the material loss this Agreement. To VERITAS' Knowledge, no person holds or impairment has been granted access to any copy of source code of any of software included among the Owned Intellectual Property.
(j) All third-party code that is incorporated into the proprietary Software included VERITAS Assets unless such person has agreed in the Transferred Intellectual Property and that is critical to the operation of such Software is commercially available (each a “Critical IP License” and collectively “Critical IP Licenses”), and following Closing, Buyer will be able to procure a license for all such third-party code for writing (i) an aggregate amount during the one-year period immediately following the Closing that shall not exceed the amount reflected for to hold such third-party source code in confidence and take reasonable steps to preserve the Unaudited Financial Statements by more than $200,000, secrecy of such source code; and (ii) an aggregate amount during not to use such source code for any purpose except to support such person's internal use of such source code or to modify such source code solely for the twelve (12) months period following the initial one-year period immediately following Closing that shall purpose of internally using such modifications. VERITAS has not exceed the amount reflected for such third-party code in the Unaudited Financial Statements by more than $200,000; provided that knowingly taken or knowingly failed to take any increases in license fees resulting from a volume increaseaction that, additional licenses directly or other change in the operation of Business post Closing shall not be breaches of this representation.
(k) Buyer and Sellers agree that the representations and warranties included in this Section 4.09 shall be the sole and exclusive representations and warranties of Sellers with respect to indirectly, has caused any Intellectual Property matters Rights in this Agreementsource code of material VERITAS Products to enter the public domain such as would have a Material Adverse Effect on VERITAS.
Appears in 2 contracts
Samples: Agreement and Plan of Reorganization (Seagate Technology Inc), Agreement and Plan of Reorganization (Seagate Software Inc)
Intellectual Property. (a) Schedule 4.09(a) sets forth a true Parent owns or is licensed to use, and complete list of in any event possesses sufficient and legally enforceable rights with respect to, all (i) Registered Parent Intellectual Property included in (as defined below) necessary for the Owned conduct of its business as currently conducted without, to Parent's knowledge, and without having conducted any special investigation or patent or trademark search, Infringement of any other person's Intellectual Property, indicating except for each item such items as have yet to be conceived or developed. Parent Disclosure Schedule sets forth any and all royalty obligations of Parent concerning the registration or application number, the registration or application date, and the applicable filing jurisdiction and (ii) Owned Intellectual Property that is not registered but that is material to the operation of the Business. Sellers exclusively own all, right, title and interest in all Owned Parent Intellectual Property, free and clear of all Encumbrances (other than Permitted Encumbrances). Sellers are not bound by any outstanding judgment, injunction, order or decree or any contractual obligation materially restricting the use by a Seller of the Owned Intellectual Property, or materially restricting the licensing thereof to any Person. With respect to the Registered Intellectual Property included in the Owned Intellectual Property listed on Schedule 4.09(a), (i) all such Registered Intellectual Property is subsisting and, to Sellers’ Knowledge, valid and enforceable, (ii) a Seller is the owner of record, and (iii) all maintenance fees and filings that are required to be made to maintain such Registered Intellectual Property have been timely made (taking into account any applicable grace periods).
(b) Schedule 4.09(b) sets forth, or at the Closing will set forth, a true and complete list of all Intellectual Property Licenses. Except as set forth on Schedule 4.09(b), Sellers have provided Buyer with true and complete copies of all such Intellectual Property Licenses. All such Intellectual Property Licenses are, to Sellers’ Knowledge, valid, binding and enforceable between the applicable Seller and the other parties thereto, and Seller and, to Sellers’ Knowledge, such other parties are in compliance with the material terms and conditions of such Intellectual Property Licenses.
(c) To Sellers’ Knowledge, the conduct of the Business as currently conducted does not infringe, misappropriate, dilute or otherwise violate, and in the past three (3) years Parent has not infringed, misappropriated or otherwise violated, developed jointly with any Intellectual Property rights of other Person any Third Party. Sellers have not received any notice that Sellers’ use of the Transferred Intellectual Property in the conduct of the Business as currently conducted infringes, misappropriates, dilutes or otherwise violates, or in the past three (3) years has infringed, misappropriated or otherwise violated, any Intellectual Property Rights of any Third Party. No Proceedings are pending and no written notices have been received by Sellers during the past three (3) years (or earlier, if presently not resolved), in each case, alleging any infringement, misappropriation or other violation by Sellers of the Intellectual Property rights of any Third Party. Except as set forth in Schedule 4.09(c), to Sellers’ Knowledge, during the past three (3) years (or earlier, if presently not resolved) no Person has infringed, misappropriated, diluted or otherwise violated any of the Owned Intellectual Property or Transferred Technology, and no Seller has made or asserted any claim, demand or notice against any person or entity alleging any such infringement, misappropriation, dilution or other violation. There is no Proceeding pending or, to Sellers’ Knowledge, threatened, challenging a Seller’s ownership of any Owned Intellectual Property, or its right to use any Transferred Intellectual Property, or challenging the validity, registrability, or enforceability of any Registered Intellectual Property included in the Owned Intellectual Property.
(d) Sellers represent that they are, each as applicable, the registrant of record of each domain name as set forth in Schedule 4.09(d) (collectively, the “Domain Names”).
(e) Sellers have taken commercially reasonable measures to protect the confidentiality of all Trade Secrets included in the Owned Intellectual Property and no material Trade Secrets have been disclosed by Sellers to any Person except pursuant to written non-disclosure agreements or other obligations of confidentiality, and, to Sellers’ Knowledge, there has not been a breach of any such agreement or obligation by any such Person.
(f) To Seller’s Knowledge, Sellers have obtained from each Person (including current and former employees and independent contractors) who has created or developed for or on behalf of Sellers any Owned Parent Intellectual Property that is material to the Business a writtenbusiness of Parent with respect to which such other person has any material exclusive rights. There is no Parent contract pursuant to which any person has any right (whether or not currently exercisable) to use, present andlicense or otherwise exploit any material Parent Intellectual Property.
(b) None of the material issued patents, valid assignment registered trademarks, registered service marks and registered copyrights owned by Parent has been declared invalid or unenforceable. To Parent's knowledge, no other person is infringing, misappropriating or making any unlawful or unauthorized use of any material Parent Intellectual Property. Parent has not (i) licensed any of the material Parent Intellectual Property to any person on an exclusive basis, or (ii) entered into any covenant not to compete or contract limiting its ability to exploit fully any material Parent Intellectual Property or to transact business in any market or geographical area or with any person.
(c) Except as disclosed under the heading "Legal Proceedings" in Parent's SEC Reports, to the knowledge of Parent, Parent has not been or may not be engaged in, liable for or contributing to any Infringement. Parent has not received any written notice or, to its knowledge, other communication of any actual, alleged, possible or potential Infringement, unlawful or unauthorized use of, any Intellectual Property owned or used by any other person.
(d) Parent has taken reasonable steps to protect Parent's rights in its confidential information and trade secrets. Each employee, consultant and contractor who has had access to proprietary Intellectual Property which is necessary for the conduct of Parent's business as currently conducted, has executed an agreement to maintain the confidentiality of such Intellectual Property to a Seller.
(g) To Sellers’ Knowledge, in the past three (3) yearsand has executed appropriate agreements that are substantially consistent with Parent's standard forms thereof. Except under confidentiality obligations, there has been no material unauthorized access to or material unauthorized use of any confidential or proprietary information or data that is both in Sellers’ possession or control and material to the Business.
(h) With respect to any material Software included within the Transferred Intellectual Property, to Sellers’ Knowledge (i) such Software is free from any material bugs, viruses or other malicious code, (ii) the Source Code for such Software has not been disclosed to any Third Party, and (iii) such Software does not contain, derive from or link to any open source Software in a manner that requires the disclosure of any proprietary Source Code, limits the ability to charge fees, of Parent's confidential information or grants any license trade secrets to any Third Party to make derivative worksthird party.
(i) Neither the execution, delivery or performance of this Agreement, nor the consummation of the transactions contemplated by the Ancillary Agreements will result in the material loss or impairment of any of the Owned Intellectual Property.
(j) All third-party code that is incorporated into the proprietary Software included in the Transferred Intellectual Property and that is critical to the operation of such Software is commercially available (each a “Critical IP License” and collectively “Critical IP Licenses”), and following Closing, Buyer will be able to procure a license for all such third-party code for (i) an aggregate amount during the one-year period immediately following the Closing that shall not exceed the amount reflected for such third-party code in the Unaudited Financial Statements by more than $200,000, and (ii) an aggregate amount during the twelve (12) months period following the initial one-year period immediately following Closing that shall not exceed the amount reflected for such third-party code in the Unaudited Financial Statements by more than $200,000; provided that any increases in license fees resulting from a volume increase, additional licenses or other change in the operation of Business post Closing shall not be breaches of this representation.
(k) Buyer and Sellers agree that the representations and warranties included in this Section 4.09 shall be the sole and exclusive representations and warranties of Sellers with respect to Intellectual Property matters in this Agreement.
Appears in 2 contracts
Samples: Merger Agreement (Conductus Inc), Merger Agreement (Superconductor Technologies Inc)
Intellectual Property. (a) Schedule 4.09(a2.1(b)(ii) sets forth a true complete and complete list accurate list, as of the date hereof, of all (i) Registered Intellectual Property included in the Owned Intellectual PropertyIP, indicating for each item the registration or application number, the registration or application date, and the applicable filing jurisdiction and (ii) Owned Intellectual Property that is not registered but that is material to the operation of the Business. Sellers exclusively own all, right, title and interest in all Owned Intellectual Property, free and clear of all Encumbrances (other than Permitted Encumbrances). Sellers are not bound by any outstanding judgment, injunction, order or decree or any contractual obligation materially restricting the use by a Seller of the Owned Intellectual Property, or materially restricting the licensing thereof to any Person. With respect to the Registered Intellectual Property included in the Owned Intellectual Property listed on Schedule 4.09(a)including, (i) all the jurisdiction in which each such item of Registered Intellectual Property is subsisting and, to Sellers’ Knowledge, valid IP has been registered or filed and enforceablethe applicable registration or serial number, (ii) a Seller is any other Person that has an ownership interest in each such item of Registered IP and the owner nature of recordsuch ownership interest, and (iii) all maintenance fees material Contracts pursuant to which Seller obtains the right to use any Intellectual Property, and filings that are required (iv) all material Contracts pursuant to be made which Seller grants to maintain such Registered any other Person the right to use any Intellectual Property have been timely made (taking into account any applicable grace periods)Property.
(b) Schedule 4.09(b) sets forthTo the Knowledge of Seller, or at the Closing will set forth, a true and complete list of all Intellectual Property Licenses. Except as set forth on Schedule 4.09(b), Sellers have provided Buyer with true and complete copies of all such Intellectual Property Licenses. All such Intellectual Property Licenses are, to Sellers’ Knowledge, valid, binding and enforceable between the applicable Seller and the other parties thereto, and Seller and, to Sellers’ Knowledge, such other parties are in compliance with the material terms and conditions of such Intellectual Property Licenses.
(c) To Sellers’ Knowledge, the conduct of the Business as currently conducted does not infringe, misappropriate, dilute or otherwise violate, and in the past three (3) years has not infringed, misappropriated or otherwise violated, or is infringing, misappropriating or otherwise violating any Intellectual Property rights right of any Third Partyother Person. Sellers have Seller has not received any written claim or written notice that Sellers’ from any Person alleging infringement, misappropriation or any other violation of Intellectual Property rights, offering a license to Intellectual Property Rights (in connection with alleged infringement), or challenging the validity, enforceability, use or ownership of the Transferred Intellectual Property or Seller’s interest in the conduct Intellectual Property. To the Knowledge of the Business as currently conducted infringesSeller, misappropriates, dilutes or otherwise violates, or in the past three (3) years no Person has infringed, misappropriated or otherwise violated, or is infringing, misappropriating or otherwise violating any Intellectual Property Rights of in any Third Party. No Proceedings are pending and no written notices have been received by Sellers during the past three (3) years (or earlier, if presently not resolved), in each case, alleging any infringement, misappropriation or other violation by Sellers of the Intellectual Property rights of any Third Partymaterial respect. Except as set forth in Schedule 4.09(c), to Sellers’ Knowledge, during the past three (35.12(b) years (there are no pending or earlier, if presently not resolved) no Person has infringed, misappropriated, diluted threatened administrative or otherwise violated any of the Owned judicial proceedings or actions involving Intellectual Property or Transferred Technology, and no Seller has made or asserted any claim, demand or notice against any person or entity alleging any such infringement, misappropriation, dilution or other violation. There is no Proceeding pending or, to Sellers’ Knowledge, threatened, challenging a Seller’s ownership use of any Owned Intellectual Property, or its right to use any Transferred Intellectual Property, or challenging the validity, registrability, or enforceability of any Registered Intellectual Property included in the Owned Intellectual Propertyrights.
(d) Sellers represent that they are, each as applicable, the registrant of record of each domain name as set forth in Schedule 4.09(d) (collectively, the “Domain Names”).
(e) Sellers have taken commercially reasonable measures to protect the confidentiality of all Trade Secrets included in the Owned Intellectual Property and no material Trade Secrets have been disclosed by Sellers to any Person except pursuant to written non-disclosure agreements or other obligations of confidentiality, and, to Sellers’ Knowledge, there has not been a breach of any such agreement or obligation by any such Person.
(fc) To the Knowledge of Seller’s Knowledge, Sellers have obtained from each Person (including current and former employees and independent contractors) who Seller has created or developed for or on behalf of Sellers any Owned Intellectual Property that is complied in all material respects with all applicable Laws relating to the Business a writtenprivacy of, present andand the collection, valid assignment use, storage and disclosure of such Intellectual Property to a personal information. To the Knowledge of Seller.
(g) To Sellers’ Knowledge, in the past three (3) years, there has been no material unauthorized access to to, unauthorized disclosure of, or other misuse of any personal information collected by Xxxxxx. Seller has not experienced any material breach of security or other material unauthorized access by third parties to personal information, nor has Seller received any complaint regarding the collection, use or disclosure of any confidential or proprietary information or data that is both in Sellers’ possession or control personal information. The execution, delivery and material performance of this Agreement will comply with all laws and regulations applicable to Seller relating to privacy and with the Businessprivacy policies of Seller.
(hd) With respect Seller represents and warrants that Seller has filed a Request for Extension of time to any material Software included within the Transferred Intellectual Propertyfile a Statement of Use for that certain trademark application whose Notice of Allowance was issued on January 28, to Sellers’ Knowledge (i) such Software is free from any material bugs, viruses or other malicious code, (ii) the Source Code for such Software has not been disclosed to any Third Party, and (iii) such Software does not contain, derive from or link to any open source Software 2014 in a manner that requires the disclosure form required to maintain use of any proprietary Source Code, limits the ability to charge fees, or grants any license to any Third Party to make derivative workssaid trademark.
(i) Neither the execution, delivery or performance of this Agreement, nor the consummation of the transactions contemplated by the Ancillary Agreements will result in the material loss or impairment of any of the Owned Intellectual Property.
(j) All third-party code that is incorporated into the proprietary Software included in the Transferred Intellectual Property and that is critical to the operation of such Software is commercially available (each a “Critical IP License” and collectively “Critical IP Licenses”), and following Closing, Buyer will be able to procure a license for all such third-party code for (i) an aggregate amount during the one-year period immediately following the Closing that shall not exceed the amount reflected for such third-party code in the Unaudited Financial Statements by more than $200,000, and (ii) an aggregate amount during the twelve (12) months period following the initial one-year period immediately following Closing that shall not exceed the amount reflected for such third-party code in the Unaudited Financial Statements by more than $200,000; provided that any increases in license fees resulting from a volume increase, additional licenses or other change in the operation of Business post Closing shall not be breaches of this representation.
(k) Buyer and Sellers agree that the representations and warranties included in this Section 4.09 shall be the sole and exclusive representations and warranties of Sellers with respect to Intellectual Property matters in this Agreement.
Appears in 2 contracts
Intellectual Property. (a) Schedule 4.09(a) sets forth a true Seller owns, free and complete list clear of any Encumbrance, or has the valid right to use all (i) Registered Intellectual Property included (as defined in the Owned Intellectual Property, indicating for each item the registration or application number, the registration or application date, and the applicable filing jurisdiction and (iiSection 4.16) Owned used by it in its business as currently conducted. Each employee of Seller who created any of Seller's Intellectual Property that is not registered but that is material and each independent contractor engaged by Seller who created any of Seller 's Intellectual Property has assigned to the operation Seller all of the Business. Sellers exclusively own all, such employee's or contractor's right, title and interest in all Owned such Intellectual Property, free and clear of all Encumbrances . No other Person (other than Permitted Encumbrances). Sellers are not bound by licensors of software that is generally commercially available, licensors of Intellectual Property under the agreements disclosed pursuant to paragraph (c) below and non-exclusive licensees of Seller's Intellectual Property in the ordinary course of Seller's business) has any outstanding judgment, injunction, order or decree or rights to any contractual obligation materially restricting the use by a Seller of the Owned Intellectual Property, or materially restricting the licensing thereof to any Person. With respect to the Registered Intellectual Property included in the Owned Intellectual Property listed on Schedule 4.09(a)owned or used by Seller, (i) all such Registered Intellectual Property is subsisting and, to Sellers’ KnowledgeSeller's knowledge, valid and enforceableno other Person or Entity is infringing, (ii) a Seller is violating or misappropriating any of the owner of record, and (iii) all maintenance fees and filings that are required to be made to maintain such Registered Intellectual Property have been timely made (taking into account any applicable grace periods)that Seller owns or has an exclusive license to use.
(b) Schedule 4.09(b) sets forth, None of the activities or at business conducted by Seller and none of the Closing will set forth, a true and complete list of all Intellectual Property Licensesowned or used by Seller (other than "off-the-shelf" generally commercially available software) infringes, violates or constitutes a misappropriation of (or in the past infringed, violated or constituted a misappropriation of) any Intellectual Property of any other person or entity. Seller has not received any written complaint, claim or notice alleging any such infringement, violation or misappropriation.
(c) Except as set forth on Schedule 4.09(b)5.14, Sellers have provided Buyer Seller has no agreements with true and complete copies of all such any Person pursuant to which Seller obtains rights to Intellectual Property Licensesmaterial to the business of Seller (other than software that is generally commercially available) that is owned by a Person other than Seller. All such Intellectual Property Licenses areOther than license fees for software that is generally commercially available, Seller is not obligated to Sellers’ Knowledgepay any royalties or other compensation to any third party in respect of its ownership, valid, binding and enforceable between the applicable Seller and the other parties thereto, and Seller and, to Sellers’ Knowledge, such other parties are in compliance with the material terms and conditions of such Intellectual Property Licenses.
(c) To Sellers’ Knowledge, the conduct of the Business as currently conducted does not infringe, misappropriate, dilute use or otherwise violate, and in the past three (3) years has not infringed, misappropriated or otherwise violated, any Intellectual Property rights license of any Third Party. Sellers have not received any notice that Sellers’ use of the Transferred Intellectual Property in the conduct of the Business as currently conducted infringes, misappropriates, dilutes or otherwise violates, or in the past three (3) years has infringed, misappropriated or otherwise violated, any Intellectual Property Rights of any Third Party. No Proceedings are pending and no written notices have been received by Sellers during the past three (3) years (or earlier, if presently not resolved), in each case, alleging any infringement, misappropriation or other violation by Sellers of the Intellectual Property rights of any Third Party. Except as set forth in Schedule 4.09(c), to Sellers’ Knowledge, during the past three (3) years (or earlier, if presently not resolved) no Person has infringed, misappropriated, diluted or otherwise violated any of the Owned Intellectual Property or Transferred Technology, and no Seller has made or asserted any claim, demand or notice against any person or entity alleging any such infringement, misappropriation, dilution or other violation. There is no Proceeding pending or, to Sellers’ Knowledge, threatened, challenging a Seller’s ownership of any Owned Intellectual Property, or its right to use any Transferred Intellectual Property, or challenging the validity, registrability, or enforceability of any Registered Intellectual Property included in the Owned Intellectual Property.
(d) Sellers represent that they are, each as applicable, the registrant of record of each domain name as set forth in Schedule 4.09(d) (collectively, the “Domain Names”).
(e) Sellers have Seller has taken commercially reasonable measures to protect the confidentiality of all Trade Secrets included in the Owned Intellectual Property and no material Trade Secrets have been disclosed by Sellers to any Person except pursuant to written non-disclosure agreements or other obligations of confidentiality, and, to Sellers’ Knowledge, there has not been a breach of any such agreement or obligation by any such Person.
(f) To Seller’s Knowledge, Sellers have obtained from each Person (including current and former employees and independent contractors) who has created or developed for or on behalf of Sellers any Owned Intellectual Property that is material to the Business a written, present and, valid assignment of such Intellectual Property to a Seller.
(g) To Sellers’ Knowledge, in the past three (3) years, there has been no material unauthorized access to or material unauthorized use of any confidential or proprietary information or data that is both in Sellers’ possession or control and material to the Business.
(h) With respect to any material Software included within the Transferred Intellectual Property, to Sellers’ Knowledge precautions (i) such Software is free from any material bugs, viruses or other malicious code, (ii) the Source Code for such Software has not been disclosed to any Third Party, and (iii) such Software does not contain, derive from or link to any open source Software protect its rights in a manner that requires the disclosure of any proprietary Source Code, limits the ability to charge fees, or grants any license to any Third Party to make derivative works.
(i) Neither the execution, delivery or performance of this Agreement, nor the consummation of the transactions contemplated by the Ancillary Agreements will result in the material loss or impairment of any of the Owned Intellectual Property.
(j) All third-party code that is incorporated into the proprietary Software included in the Transferred its Intellectual Property and that is critical to the operation of such Software is commercially available (each a “Critical IP License” and collectively “Critical IP Licenses”), and following Closing, Buyer will be able to procure a license for all such third-party code for (i) an aggregate amount during the one-year period immediately following the Closing that shall not exceed the amount reflected for such third-party code in the Unaudited Financial Statements by more than $200,000, and (ii) an aggregate amount during to maintain the twelve (12) months period following confidentiality of its trade secrets, know-how and other confidential Intellectual Property, and to Seller's knowledge, there have been no acts or omissions by the initial one-year period immediately following Closing that shall not exceed officers, directors, employees and agents of Seller, the amount reflected result of which would be to materially compromise the rights of Seller to apply for such third-party code in the Unaudited Financial Statements by more than $200,000; provided that any increases in license fees resulting from a volume increase, additional licenses or other change in the operation enforce appropriate legal protection of Business post Closing shall not be breaches of this representationSeller's Intellectual Property.
(k) Buyer and Sellers agree that the representations and warranties included in this Section 4.09 shall be the sole and exclusive representations and warranties of Sellers with respect to Intellectual Property matters in this Agreement.
Appears in 2 contracts
Samples: Asset Acquisition Agreement (Blue Moon Group Inc), Asset Acquisition Agreement (Blue Moon Group Inc)
Intellectual Property. (a) Schedule 4.09(a1.1(a)(vi)(2) sets forth is a true complete and complete accurate list of all (i) Registered Intellectual Property included patents and patent applications owned by the Conexant Group Companies that are primarily related to the Process Technology used in the Owned Intellectual Property, indicating for each item Wafer Fabrication Operations. Schedule 2.5(a) is a complete and accurate list of all patent and patent applications (other than the registration or application number, patents and patent applications listed on Schedule 1.1(a)(vi)(2)) owned by the registration or application dateConexant Group Companies related to the Process Technology used in the Water Fabrication Operations. None of the Excluded Patent Rights is primarily related to the Process Technology used in the Wafer Fabrication Operations.
(b) The Newport Fab LLC owns, and the applicable filing jurisdiction has good and (ii) Owned Intellectual Property that is not registered but that is material to the operation valid title to, all of the Business. Sellers exclusively own all, right, title and interest in all Owned Transferred Intellectual Property, free and clear of any Encumbrances other than Permitted Encumbrances and other than licenses granted by Conexant or its predecessors or any previous owner of the Transferred Intellectual Property prior to the date of this Agreement.
(c) Conexant has taken reasonable steps in accordance with normal industry practice to protect the Conexant Group Companies’ rights in the portions of the Transferred Know-How that: (1) derive independent economic value, actual or potential, from not being generally known to the public or to other persons who can obtain economic value from its disclosure or use; and (2) are the subject of efforts that are reasonable under the circumstances to maintain its secrecy. Without limiting the foregoing, all Encumbrances Intellectual Property developed by any contractor or employee of the Conexant Group Companies during the course of their employment and constituting a part of the Transferred Intellectual Property has been fully assigned to Conexant.
(d) None of the Transferred Patents is involved in any interference or opposition proceeding, and, to the Knowledge of the Conexant Group Companies, no such proceeding is being threatened with respect to any of the Transferred Patents.
(e) Part 2.5(e) of the Conexant Disclosure Schedule contains a complete and accurate list, and except as set forth in Part 2.5(e) of the Conexant Disclosure Schedule, Conexant has provided to Carlyle or its representatives complete and accurate copies, of all material licenses under or to the Transferred Intellectual Property granted by the Conexant Group Companies or by Conexant’s predecessors or any other previous owner of the Transferred Intellectual Property. Any licenses that are no longer valid or in effect will not be considered material for purposes of this representation and warranty. There is no pending or, to the Knowledge of the Conexant Group Companies, threatened dispute concerning any license listed in Part 2.5(e) of the Conexant Disclosure Schedule.
(f) Part 2.5(f) of the Conexant Disclosure Schedule contains a complete and accurate list, and, except as set forth in Part 2.5(f) of the Conexant Disclosure Schedule, Conexant has provided to Carlyle or its representatives complete and accurate copies, of all material intellectual property licenses granted to the Conexant Group Companies or, to the Knowledge of Conexant, any of their predecessors, that relate to the Process Technology used in the Wafer Fabrication Operations or the Design Kits and under which any of the Conexant Group Companies has rights. Any licenses that are no longer valid or in effect will not be considered material for purposes of this representation and warranty. There is no pending or, to the Knowledge of the Conexant Group Companies, threatened dispute concerning any license listed in Part 2.5(f) of the Conexant Disclosure Schedule.
(g) Part 2.5(g) of the Conexant Disclosure Schedule contains a complete and accurate list of all software licensed to any of the Conexant Group Companies by third parties that is used in or for and is material to the Wafer Fabrication Operations, other than (i) software used in other parts of Conexant’s business operations, the use of which by or on behalf of the Specialtysemi Group Companies is addressed in the IT Transition Services Agreement and (ii) software that is commercially available on standard terms for less than $10,000, and the agreement or agreements pursuant to which such software is licensed to the Conexant Group Companies. True and correct copies of such license agreements (other than Permitted Encumbrances)any shrinkwrap or clickwrap licenses) have been provided to Carlyle. Sellers are not bound by There is no pending or, to the Knowledge of Conexant, threatened dispute concerning any outstanding judgment, injunction, order or decree or any contractual obligation materially restricting the use by a Seller of the Owned Intellectual PropertyConexant Group Companies’ licenses for such software and other copyrights.
(h) As of the Closing Date, or materially restricting the licensing thereof Conexant will have full right, power and authority to any Person. With respect grant to the Registered Intellectual Property included Specialtysemi Group Companies the licenses to be granted any of the Specialtysemi Group Companies in the Owned Intellectual Property listed on Schedule 4.09(a)License Agreements. No approval, permission or consent of any third party will be needed for Conexant to grant such licenses.
(i) all such Registered Except as set forth in Part 2.5(i) of the Conexant Disclosure Schedule, since December 31, 1998, none of the Conexant Group Companies has received any written notice or claim alleging that the conduct of the Wafer Fabrication Operations, as currently conducted, infringes, misappropriates, or violates any Intellectual Property is subsisting andof a third party (other than any claims relating to the design, to Sellers’ Knowledgestructure, valid and enforceable, (ii) a Seller is the owner performance or functionality of record, and (iii) all maintenance fees and filings that are required to be made to maintain such Registered Intellectual Property have been timely made (taking into account any applicable grace periods).
(b) Schedule 4.09(b) sets forth, specific devices or other products manufactured at the Closing will set forthNewport Beach Fab Facility, a true and complete list of all Intellectual Property Licensesas opposed to the process used to fabricate the device or product). Except as set forth on Schedule 4.09(bin Part 2.5(i) of the Conexant Disclosure Schedule, there is not now nor at any time since December 31, 1998 have there been any pending or, to the Knowledge of Conexant, threatened Proceeding involving any such claims or allegations. To the Knowledge of the Conexant Group Companies, no third party is infringing, misappropriating, or violating any of the Transferred Intellectual Property or Licensed Intellectual Property (other than the Intellectual Property of third parties sublicensed by Conexant to the Specialtysemi Group Companies), Sellers have provided Buyer with true and complete copies since December 31, 1998, no Conexant Group Company has asserted any claims or initiated any Proceedings against any third party based on any such infringement, misappropriation, or violation of all such the Transferred Intellectual Property LicensesProperty. All such Intellectual Property Licenses are, to Sellers’ Knowledge, valid, binding and enforceable between To the applicable Seller and Knowledge of the other parties thereto, and Seller and, to Sellers’ Knowledge, such other parties are in compliance with the material terms and conditions of such Intellectual Property Licenses.
(c) To Sellers’ KnowledgeConexant Group Companies, the conduct of the Business Wafer Fabrication Operations, as currently conducted conducted, does not infringe, misappropriate, dilute or otherwise violateviolate any Intellectual Property of a third party (other than Intellectual Property related to the design, structure, performance or functionality of specific devices or other products manufactured at the Newport Beach Fab Facility, as opposed to the process used to fabricate the device or product).
(j) The Transferred Intellectual Property and the Licensed Intellectual Property, along with (1) all rights granted or transferred under Transferred Contracts, (2) any express rights granted or transferred to the Specialtysemi Group Companies, and any implied rights the Specialtysemi Group Companies may have, under the Long-Term Supply Agreement and other agreements relating to the supply of products by the Specialtysemi Group Companies to Conexant, Conexant Subsidiaries or Conexant Spin-Offs (as defined in the past three Long-Term Supply Agreement), and (3) years has not infringed“have made” rights of Conexant, misappropriated or otherwise violatedConexant Subsidiaries and Conexant Spin-Offs under third party Intellectual Property licenses, any (i) collectively constitute all Intellectual Property rights owned or controlled by the Conexant Group Companies related to the Process Technology and Design Kits currently practiced or used in the Wafer Fabrication Operations and (ii) collectively include all Intellectual Property Rights owned or controlled by the Conexant Group Companies that are sufficient to permit the Specialtysemi Group Companies to conduct the Wafer Fabrication Operations as currently conducted.
(k) None of the Transferred Patents is licensed to IBM under the Agreement between IBM and Rockwell International Corporation dated as of January 1, 1991.
(l) Conexant has provided to Carlyle a true and correct copy of that certain License and Supply Agreement (the “TSMC License Agreement”) dated January 10, 2001 between Conexant and Taiwan Semiconductor Manufacturing Company Limited (“TSMC”), except that certain provisions (the “Redacted TSMC Provisions”) of the TSMC License Agreement have been redacted from the copy of the TSMC License Agreement provided to Carlyle. The Redacted TSMC Provisions do not and will not in any Third Party. Sellers way restrict or limit the rights of the Conexant Group Companies or the Specialtysemi Group Companies related to the practice, use, licensing or assignment of the Intellectual Property that is subject to the TSMC License Agreement.
(m) The TSMC License Agreement does not and will not restrict the rights of the Specialtysemi Group Companies to (i) make, have not received made, use, offer to sell, sell, distribute, advertise, import or export any notice product at or from the Newport Beach Fab Facility, including, without limitation, using the Transferred Intellectual Property and Licensed Intellectual Property at the Newport Beach Fab Facility or (ii) assign or convey ownership of, or pledge or grant a security interest in, any Transferred Intellectual Property (it being understood that Sellers’ use any future owner of the Transferred Intellectual Property will take ownership subject to the license granted to TSMC in the conduct of the Business as currently conducted infringes, misappropriates, dilutes or otherwise violates, or in the past three (3) years has infringed, misappropriated or otherwise violated, any Intellectual Property Rights of any Third Party. No Proceedings are pending and no written notices have been received by Sellers during the past three (3) years (or earlier, if presently not resolved), in each case, alleging any infringement, misappropriation or other violation by Sellers of the Intellectual Property rights of any Third Party. Except as set forth in Schedule 4.09(c), to Sellers’ Knowledge, during the past three (3) years (or earlier, if presently not resolved) no Person has infringed, misappropriated, diluted or otherwise violated any of the Owned Intellectual Property or Transferred Technology, and no Seller has made or asserted any claim, demand or notice against any person or entity alleging any such infringement, misappropriation, dilution or other violation. There is no Proceeding pending or, to Sellers’ Knowledge, threatened, challenging a Seller’s ownership of any Owned Intellectual Property, or its right to use any Transferred Intellectual Property, or challenging the validity, registrability, or enforceability of any Registered Intellectual Property included in the Owned Intellectual Property.
(d) Sellers represent that they are, each as applicable, the registrant of record of each domain name as set forth in Schedule 4.09(d) (collectively, the “Domain Names”TSMC License Agreement).
(en) Sellers have taken commercially reasonable measures The TSMC License Agreement does not and will not restrict the rights of the Specialtysemi Group Companies to protect the confidentiality of all Trade Secrets included in the Owned Intellectual Property and no material Trade Secrets have been disclosed by Sellers to any Person except pursuant to written non-disclosure agreements or other obligations of confidentiality, and, to Sellers’ Knowledge, there has not been a breach of any such agreement or obligation by any such Person.
(f) To Seller’s Knowledge, Sellers have obtained from each Person (including current and former employees and independent contractors) who has created or developed for or on behalf of Sellers any Owned Intellectual Property that is material to the Business a written, present and, valid assignment of such Intellectual Property to a Seller.
(g) To Sellers’ Knowledge, in the past three (3) years, there has been no material unauthorized access to or material unauthorized use of any confidential or proprietary information or data that is both in Sellers’ possession or control and material to the Business.
(h) With respect to any material Software included within the Transferred Intellectual Property, to Sellers’ Knowledge (i) such Software is free from assert, bring, pursue or prosecute any material bugs, viruses claim or other malicious code, (ii) the Source Code suit for such Software has not been disclosed to any Third Party, and (iii) such Software does not contain, derive from infringement or link to any open source Software in a manner that requires the disclosure of any proprietary Source Code, limits the ability to charge fees, or grants any license to any Third Party to make derivative works.
(i) Neither the execution, delivery or performance of this Agreement, nor the consummation of the transactions contemplated by the Ancillary Agreements will result in the material loss or impairment misappropriation of any of the Owned Transferred Intellectual Property.
Property against any party, except for claims or suits (jx) All thirdasserted against TSMC with respect to the Intellectual Property under which TSMC received a license under the TSMC License Agreement, and (y) relating to products manufactured or sold by TSMC or TSMC affiliates, or their successors, under the rights licensed to TSMC in the TSMC License Agreement, or (ii) grant non-party code that is incorporated into the proprietary Software included in exclusive licenses to make, have made, use, offer to sell, sell, distribute, advertise, import and/or export products (a “Settlement License”) to any Person (a “Settlement Licensee”) under the Transferred Intellectual Property in connection with settling or avoiding any pending or threatened litigation (and that is critical to the operation of such Software is commercially available (each a “Critical IP License” and collectively “Critical IP Licenses”), and following Closing, Buyer will be able to procure a license for all such third-party code for (i) an aggregate amount during the one-year period immediately following the Closing that shall not exceed the amount reflected for such third-party code nothing in the Unaudited Financial Statements by more than $200,000, and (ii) an aggregate amount during TSMC License Agreement restricts the twelve (12) months period following the initial one-year period immediately following Closing that shall not exceed the amount reflected for such third-party code in the Unaudited Financial Statements by more than $200,000; provided that rights of any increases in license fees resulting Settlement Licensee from a volume increase, additional licenses or other change in the operation of Business post Closing shall not be breaches of this representationexercising its rights under any Settlement License granted to it).
(k) Buyer and Sellers agree that the representations and warranties included in this Section 4.09 shall be the sole and exclusive representations and warranties of Sellers with respect to Intellectual Property matters in this Agreement.
Appears in 2 contracts
Samples: Contribution Agreement (Jazz Semiconductor Inc), Contribution Agreement (Jazz Semiconductor Inc)
Intellectual Property. (a) Schedule 4.09(a3.5(a) sets forth a true and complete list of all the Seller Disclosure Schedule accurately identifies: (i) Registered each Intellectual Property included Registration in which Seller Group has or purports to have an ownership interest of any nature (whether exclusively, jointly with another Person, or otherwise); (ii) the Owned jurisdiction in which such Intellectual Property, indicating for each item the registration Property Registration has been registered or application number, the registration or application date, filed and the applicable filing jurisdiction registration or serial number; and (iii) any other Person that has an ownership interest in such Intellectual Property Registration and the nature of such ownership interest.
(b) Schedule 3.5(b) of the Seller Disclosure Schedule accurately identifies: (i) all Intellectual Property Rights licensed to Seller Group (other than any non-customized software that is so licensed solely in executable or object code form pursuant to a non-exclusive, software license or is generally publicly available on standard terms for less than $10,000 (“de minimis IP”)); and (ii) Owned the corresponding Seller Contract pursuant to which such Intellectual Property that is Rights are licensed to Seller Group. The aggregate amount of licensing fees associated with Seller Group’s de minimis IP does not registered but that is material exceed $250,000 on an annual basis.
(c) Schedule 3.5(c) of the Seller Disclosure Schedule accurately identifies each Seller Contract or the form thereof pursuant to which any Person has been granted any license under, or otherwise has received or acquired any right (whether or not currently exercisable) or interest in, any Intellectual Property Rights.
(d) To Seller’s Knowledge, the operation of the BusinessBusiness as it has been or is currently conducted by Seller Group, has not or does not infringe or misappropriate any Intellectual Property Rights of any Person, violate any right of any Person (including any right to privacy or publicity), or constitute unfair competition or trade practices under the laws of any jurisdiction. Sellers Seller Group has not received written notice from any Person claiming that Seller Group’s business conflicts with, infringes or misappropriates any Intellectual Property Rights of any Person or constitutes unfair competition or trade practices under the laws of any jurisdiction (nor does Seller have Knowledge of any basis therefor). To Seller’s Knowledge, no Person is infringing or misappropriating any of Seller Group’s Intellectual Property Rights.
(e) Seller Group exclusively own all, owns all right, title and interest in and to all Owned Intellectual Propertyrights in or associated with the following throughout, or anywhere in, the world: (a) trademarks, (b) copyrights, (c) trade secrets, (d) to Seller’s Knowledge, patents, and (e) any equivalent right to any of the foregoing that are owned or purported to be owned by Seller Group, free and clear of all any Encumbrances (other than Permitted Encumbrances). Sellers are not bound by any outstanding judgment, injunction, order or decree or any contractual obligation materially restricting the use by a Seller of the Owned Intellectual Property, or materially restricting the licensing thereof to any Person. With respect to the Registered Intellectual Property included non-exclusive outbound licenses granted in the Owned Intellectual Property listed on Schedule 4.09(aordinary course of business), (i) all such Registered Intellectual Property is subsisting and, to Sellers’ Knowledge, valid and enforceable, (ii) a Seller is the owner of record, and (iii) all maintenance fees and filings that are required to be made to maintain such Registered Intellectual Property have been timely made (taking into account any applicable grace periods).
(b) Schedule 4.09(b) sets forth, or at the Closing will set forth, a true and complete list of all Intellectual Property Licenses. Except as set forth on Schedule 4.09(b), Sellers have provided Buyer with true and complete copies of all such Intellectual Property Licenses. All such Intellectual Property Licenses are, to Sellers’ Knowledge, valid, binding and enforceable between the applicable Seller and the other parties thereto, and Seller and, to Sellers’ Knowledge, such other parties are in compliance with the material terms and conditions of such Intellectual Property Licenses.
(c) To Sellers’ Knowledge, the conduct of the Business as currently conducted does not infringe, misappropriate, dilute or otherwise violate, and in the past three (3) years has not infringed, misappropriated or otherwise violated, any Intellectual Property rights of any Third Party. Sellers have not received any notice that Sellers’ use of the Transferred Intellectual Property in the conduct of the Business as currently conducted infringes, misappropriates, dilutes or otherwise violates, or in the past three (3) years has infringed, misappropriated or otherwise violated, any Intellectual Property Rights of any Third Party. No Proceedings are pending and no written notices have been received by Sellers during the past three (3) years (or earlier, if presently not resolved), in each case, alleging any infringement, misappropriation or other violation by Sellers of the Intellectual Property rights of any Third Party. Except as set forth in Schedule 4.09(c), to Sellers’ Knowledge, during the past three (3) years (or earlier, if presently not resolved) no Person has infringed, misappropriated, diluted or otherwise violated any of the Owned Intellectual Property or Transferred Technology, and no Seller has made or asserted any claim, demand or notice against any person or entity alleging any such infringement, misappropriation, dilution or other violation. There is no Proceeding pending or, to Sellers’ Knowledge, threatened, challenging a Seller’s ownership of any Owned Intellectual Property, or its right to use any Transferred Intellectual Property, or challenging the validity, registrability, or enforceability of any Registered Intellectual Property included in the Owned Intellectual Property.
(d) Sellers represent that they are, each as applicable, the registrant of record of each domain name as set forth in Schedule 4.09(d) (collectively, the “Domain Names”).
(e) Sellers have taken commercially reasonable measures to protect the confidentiality of all Trade Secrets included in the Owned Intellectual Property and no material Trade Secrets have been disclosed by Sellers to any Person except pursuant to written non-disclosure agreements or other obligations of confidentiality, and, to Sellers’ Knowledge, there has not been a breach of any such agreement or obligation by any such Person.
(f) To Sellerthe extent that any tangible or intangible Intellectual Property Rights that are material to Seller Group’s Knowledgebusiness have been developed, Sellers have supported or created independently or jointly by any Person other than Seller Group, Seller Group has a written agreement with such person with respect thereto, and Seller Group thereby has obtained from each Person a valid and enforceable assignment sufficient to transfer all right, title and ownership (including current the right to seek past and former employees future damages) of, and independent contractors) who has created or developed for or on behalf of Sellers any Owned Intellectual Property that is material to the Business a writtenexclusive owner of, present and, valid assignment of all such Intellectual Property to a SellerRights therein by operation of law or by valid assignment, and has obtained the waiver of all non-assignable rights, including all moral rights.
(g) To Sellers’ Knowledge, in the past three (3) years, there Seller has been no material unauthorized access to or material unauthorized use Knowledge of any confidential facts or proprietary information circumstances that it believes would render any of its Intellectual Property Rights invalid or data unenforceable. Seller Group has not received written notice of any official actions or other notices from any Governmental Body that any of the subject matters or claims of pending applications for registration constituting any of Seller Group’s Intellectual Property Rights are unregistrable. To Seller’s Knowledge none if its Intellectual Property Rights is both subject to any proceeding or outstanding decree, order, judgment or settlement agreement or stipulation that restricts in Sellers’ possession any material manner Seller Group’s ability to use, provide, transfer, assign or control and material to license, or may affect the Businessvalidity, use or enforceability of, such Intellectual Property Rights.
(h) With respect To Seller’s Knowledge, Seller Group’s data, privacy and security practices conform in all material respects to any material Software included within all of the Transferred Intellectual PropertyPrivacy Commitments (as defined below) and each law applicable to the protection or processing or both of the name, to Sellers’ Knowledge (i) such Software is free from any material bugsstreet address, viruses telephone number, e-mail address, photograph, social security number, driver’s license number, passport number or other malicious code, (ii) the Source Code for such Software has not been disclosed to any Third Party, and (iii) such Software does not contain, derive from customer or link to any open source Software in a manner that requires the disclosure of any proprietary Source Code, limits the ability to charge feesaccount number, or grants any license to any Third Party to make derivative works.
other piece of information that allows the identification of a natural person (i) Neither the execution, delivery or performance of this Agreement, nor the consummation of the transactions contemplated by the Ancillary Agreements will result in the material loss or impairment of any of the Owned Intellectual Property.
(j) All third-party code that is incorporated into the proprietary Software included in the Transferred Intellectual Property and that is critical to the operation of such Software is commercially available (each a “Critical IP License” and collectively “Critical IP LicensesPersonal Data”), including laws applicable direct marketing, e-mails, text messages or telemarketing. Seller Group: (A) provides adequate notice and following Closing, Buyer will be able to procure a license obtains any necessary consents from data subjects required for all such third-party code the processing of Personal Data as conducted by or for (i) an aggregate amount during the one-year period immediately following the Closing that shall not exceed the amount reflected for such third-party code in the Unaudited Financial Statements by more than $200,000, Seller Group; and (iiB) an aggregate amount during abides by any privacy choices (including opt-out preferences) of data subjects relating to Personal Data (such obligations along with the twelve obligations contained in Seller Group’s data privacy and security policies, or published on Seller Group’s websites or otherwise made available by Seller Group to any Person (12) months period following the initial one-year period immediately following Closing that shall not exceed the amount reflected for such third-party code in the Unaudited Financial Statements by more than $200,000; provided that any increases in license fees resulting from a volume increase, additional licenses or other change in the operation of Business post Closing shall not be breaches of this representation“Privacy Commitments”).
(k) Buyer and Sellers agree that the representations and warranties included in this Section 4.09 shall be the sole and exclusive representations and warranties of Sellers with respect to Intellectual Property matters in this Agreement.
Appears in 2 contracts
Samples: Asset Purchase Agreement, Asset Purchase Agreement (theMaven, Inc.)
Intellectual Property. (a) Schedule 4.09(aSection 5.16(a) of the Monsoon Disclosure Letter sets forth a true and complete list as of the date of this Agreement of all (i) Registered Intellectual Property included in Rights owned or purported to be owned by Monsoon or any Monsoon Subsidiary (the “Owned Monsoon Intellectual Property”) that are registered with a Governmental Authority. The registered Owned Monsoon Intellectual Property is subsisting and, to the knowledge of Monsoon, valid and enforceable. Monsoon or a Monsoon Subsidiary is the sole and exclusive owner of the Owned Intellectual Property, indicating for each item the registration or application number, the registration or application date, and the applicable filing jurisdiction and (ii) Owned Intellectual Property that is not registered but that is material to the operation of the Business. Sellers exclusively own all, right, title and interest in all Owned Monsoon Intellectual Property, free and clear of all Encumbrances (Liens other than Permitted Encumbrances)nonexclusive licenses entered into in the ordinary course of business. Sellers are not bound by Neither Monsoon nor any outstanding judgment, injunction, order or decree or Monsoon Subsidiary has granted any contractual obligation materially restricting the use by a Seller exclusive license in respect of the any Owned Monsoon Intellectual Property, or materially restricting the licensing thereof to any Person. With respect to the Registered Intellectual Property included in the Owned Intellectual Property listed on Schedule 4.09(a), (i) all such Registered Intellectual Property is subsisting and, to Sellers’ Knowledge, valid and enforceable, (ii) a Seller is the owner of record, and (iii) all maintenance fees and filings that are required to be made to maintain such Registered Intellectual Property have been timely made (taking into account any applicable grace periods).
(b) Schedule 4.09(bThere are (i) sets forthno claims pending or threatened in writing against Monsoon or any Monsoon Subsidiary by any Person (x) claiming that Monsoon or any Monsoon Subsidiary is infringing, misappropriating or at the Closing will set forth, a true and complete list of all otherwise violating any Intellectual Property Licenses. Except Rights of a third party in the operation or conduct of the Monsoon Business as set forth on Schedule 4.09(b), Sellers have provided Buyer with true and complete copies of all such currently conducted (including any claim that Monsoon or any Monsoon Subsidiary must license or refrain from using any Intellectual Property Licenses. All such Right of a third party) or (y) challenging the validity, ownership, patentability, enforceability, registrability or use by Monsoon or any Monsoon Subsidiary of any Owned Monsoon Intellectual Property Licenses areand (ii) to the knowledge of Monsoon, to Sellers’ Knowledge, valid, binding and enforceable between the applicable Seller and the other parties thereto, and Seller and, to Sellers’ Knowledge, such other parties are in compliance with the material terms and conditions of such Intellectual Property Licenses.
(c1) To Sellers’ Knowledge, the conduct of the Monsoon Business as currently conducted does is not infringe(A) infringing upon, misappropriatemisappropriating, dilute violating, diluting or otherwise violate, and in constituting the past three (3) years has not infringed, misappropriated or otherwise violated, any Intellectual Property rights of any Third Party. Sellers have not received any notice that Sellers’ unauthorized use of the Transferred Intellectual Property in the conduct of the Business as currently conducted infringes, misappropriates, dilutes or otherwise violates, or in the past three (3) years has infringed, misappropriated or otherwise violated, any Intellectual Property Rights of any Third Party. No Proceedings are pending third party, or (B) violating any rights of any Person to privacy or publicity and (2) no written notices have been received by Sellers during Person is infringing, misappropriating or violating the past three rights of Monsoon or any Monsoon Subsidiary with respect to any Intellectual Property Rights used or held for use in Monsoon Business.
(3c) years Except for commercially available “off-the-shelf” Software licensed to Monsoon or any Monsoon Subsidiary, the Owned Monsoon Intellectual Property, together with all Intellectual Property Rights that Monsoon or any Monsoon Subsidiary license pursuant to the Contracts set forth in Section 5.17(a)(iv) of the Monsoon Disclosure Letter (or earliercollectively, if presently not resolvedthe “Monsoon Intellectual Property”), in each case, alleging any infringement, misappropriation or other violation by Sellers constitutes all of the Intellectual Property rights of any Third Party. Except as set forth in Schedule 4.09(c), to Sellers’ Knowledge, during Rights reasonably necessary for the past three (3) years (or earlier, if presently not resolved) no Person has infringed, misappropriated, diluted or otherwise violated any conduct of the Owned Intellectual Property or Transferred Technology, Monsoon Business as currently conducted and no Seller has made or asserted any claim, demand or notice against any person or entity alleging any such infringement, misappropriation, dilution or other violation. There is no Proceeding pending or, as currently planned to Sellers’ Knowledge, threatened, challenging a Seller’s ownership of any Owned Intellectual Property, or its right to use any Transferred Intellectual Property, or challenging the validity, registrability, or enforceability of any Registered Intellectual Property included in the Owned Intellectual Propertybe conducted.
(d) Sellers represent that they areMonsoon and each Monsoon Subsidiary have taken commercially reasonable steps to obtain, each as applicablemaintain and protect the Monsoon Intellectual Property. Without limiting the foregoing, (i) all confidential information, including any Trade Secrets constituting Monsoon Intellectual Property have been maintained in confidence in accordance with protection procedures customarily used in the registrant industry to protect information of record like importance and (ii) neither Monsoon nor any Monsoon Subsidiary or, to the knowledge of each domain name as set forth Monsoon, any third party, has disclosed any of the confidential information, including Trade Secrets, owned by or accessible to Monsoon or any Monsoon Subsidiary to any other Person (except in Schedule 4.09(d) (collectively, the “Domain Names”ordinary course of business consistent with past practice and subject to written obligations of confidence).
(e) Sellers All employees and contractors that have taken commercially reasonable measures to protect the confidentiality created, invented or improved any Owned Monsoon Intellectual Property have executed valid and binding agreements in which they have irrevocably assigned exclusive ownership of all Trade Secrets included of their rights in the Owned and to such Intellectual Property and Rights to Monsoon or a Monsoon Subsidiary. To the knowledge of Monsoon, no material Trade Secrets have been disclosed by Sellers party to any Person except pursuant to written non-disclosure agreements or other obligations of confidentiality, and, to Sellers’ Knowledge, there has not been a breach of any such agreement or obligation by any such Personis in material breach thereof.
(f) To Seller’s Knowledge, Sellers have obtained from each Neither Monsoon nor any Monsoon Subsidiary is or has been a member of or a contributor to any industry standards-setting body or similar organization in connection with the Monsoon Business that requires or obligates either Monsoon or any Monsoon Subsidiary to grant or offer to any other Person (including current and former employees and independent contractors) who has created any license or developed for or on behalf of Sellers right to any Owned Monsoon Intellectual Property that is material to the Business a written, present and, valid assignment of such Intellectual Property to a SellerProperty.
(g) To Sellers’ KnowledgeNo funding, facilities or personnel of any Governmental Authority were used to develop or create, in whole or in part, any Owned Monsoon Intellectual Property in a manner that has resulted in any such Governmental Authority having any rights or interests in any such Owned Monsoon Intellectual Property.
(h) Since January 1, 2014 the past three conduct of the Monsoon Business has been and is in compliance in all material respects with any and all applicable Laws, contractual requirements of Monsoon and any Monsoon Subsidiary, terms of use and Privacy Statements of Monsoon and any Monsoon Subsidiary pertaining to data protection or information privacy, security, and the collection, use and disclosure of any Personal Data by or on behalf of Monsoon or any Monsoon Subsidiary. Monsoon and the Monsoon Subsidiaries have used reasonable best efforts to protect the secrecy of Personal Data that Monsoon and the Monsoon Subsidiaries (3or any Person on behalf of Monsoon or any Monsoon Subsidiary) yearscollects, stores, uses or maintains for the conduct of the Monsoon Business and to prevent unauthorized use, disclosure, loss, processing, transmission or destruction of or access to such information by any other Person. To the knowledge of Monsoon, since January 1, 2014 there have been no unauthorized processing or disclosures of access to data or any intrusions or breaches of security, relating to any Personal Data collected, stored, used or maintained by or on behalf of Monsoon or any Monsoon Subsidiary. Neither Monsoon nor any Monsoon Subsidiary has been legally required to provide any notices to data owners in connection with a disclosure of Personal Data or other non-public information, nor has Monsoon nor any Monsoon Subsidiary provided any such notice. There are no claims pending or, to the knowledge of Monsoon, threatened against Monsoon or any Monsoon Subsidiary alleging a violation of any other Person’s Personal Data or privacy or data rights.
(i) Monsoon and the Monsoon Subsidiaries have taken all reasonable measures to preserve and maintain the performance and security of all Software, hardware, databases, computer equipment, communications networks, data centers, and other information technology systems owned or leased by Monsoon or any Monsoon Subsidiary (“Monsoon IT Systems”). To the knowledge of Monsoon, no Monsoon IT System contains any Malicious Code. Monsoon and the Monsoon Subsidiaries use commercially reasonable measures designed to prevent the introduction of Malicious Code into Monsoon IT Systems, including firewall protections and virus scans. Since January 1, 2014, to the knowledge of Monsoon (i) there has been no material failure with respect to any Monsoon IT System and (ii) there has been no unauthorized access to or material unauthorized use of any confidential or proprietary information or data that is both in Sellers’ possession or control and material to the Business.
(h) With respect to any material Software included within the Transferred Intellectual Property, to Sellers’ Knowledge (i) such Software is free from any material bugs, viruses or other malicious code, (ii) the Source Code for such Software has not been disclosed to any Third Party, and (iii) such Software does not contain, derive from or link to any open source Software in Monsoon IT System by a manner that requires the disclosure of any proprietary Source Code, limits the ability to charge fees, or grants any license to any Third Party to make derivative works.
(i) Neither the execution, delivery or performance of this Agreement, nor the consummation of the transactions contemplated by the Ancillary Agreements will result in the material loss or impairment of any of the Owned Intellectual Propertythird party.
(j) All third-party No Software code or data library is present in any Software contained within the Owned Monsoon Intellectual Property (the “Monsoon Proprietary Software”) that is incorporated into the proprietary Software included in the Transferred Intellectual Property and licensed as freeware, shareware, open source software or under similar licensing models that is critical to the operation of such Software is commercially available (each a “Critical IP License” and collectively “Critical IP Licenses”), and following Closing, Buyer will be able to procure a license for all such third-party code for (i) an aggregate amount during requires or conditions the one-year period immediately following the Closing that shall not exceed the amount reflected for such third-party code use or distribution of any Monsoon Proprietary Software, as used or distributed in the Unaudited Financial Statements by more than $200,000conduct of the Monsoon Business as presently conducted, and or planned to be conducted, on the disclosure, licensing or distribution of any source code for any portion of such Monsoon Proprietary Software at no additional charge, (ii) an aggregate amount during prohibits or limits the twelve receipt of consideration in connection with the licensing, sublicensing or distributing any Monsoon Proprietary Software, (12iii) months period following requires (or could or does condition the initial one-year period immediately following Closing that shall not exceed use or distribution of such Monsoon Proprietary Software on) the amount reflected for such third-party code in granting (x) to third parties of the Unaudited Financial Statements by more than $200,000; provided that any increases in license fees resulting from a volume increase, additional licenses right to make derivative works or other change in modifications to such Monsoon Proprietary Software or portions thereof or (y) of a license under the operation of Business post Closing shall not be breaches of this representationOwned Monsoon Intellectual Property.
(k) Buyer and Sellers agree that the representations and warranties included in this Section 4.09 shall be the sole and exclusive representations and warranties of Sellers with respect to Intellectual Property matters in this Agreement.
Appears in 2 contracts
Samples: Transaction Agreement (Naspers LTD), Transaction Agreement (MakeMyTrip LTD)
Intellectual Property. Section 2.15 of the Seller Disclosure Schedule sets forth a complete and accurate list of all Intellectual Property owned or licensed by Seller and used or useful in connection with the Business (collectively, the “Business Intellectual Property”), and, to the Seller’s knowledge, the Business Intellectual Property is sufficient for the conduct of the Business as currently conducted.
(a) Schedule 4.09(a) sets Except as set forth a true and complete list in Section 2.15 of all the Seller Disclosure Schedule, to the Seller’s knowledge (i) Registered with respect to any Business Intellectual Property included in the Owned Intellectual Property, indicating for each item the registration or application number, the registration or application date, and the applicable filing jurisdiction and owned by Seller (ii) Owned as opposed to Business Intellectual Property that of which Seller is not registered but that is material to the operation of the Business. Sellers exclusively own alla licensee), Seller owns all right, title and interest in to all Owned such Business Intellectual Property, free and clear without any conflict known to Seller with the rights of all Encumbrances (other than Permitted Encumbrances). Sellers are not bound by any outstanding judgment, injunction, order or decree or any contractual obligation materially restricting the use by a Seller of the Owned Intellectual Property, or materially restricting the licensing thereof to any Person. With respect to the Registered Intellectual Property included in the Owned Intellectual Property listed on Schedule 4.09(a), (i) all such Registered Intellectual Property is subsisting and, to Sellers’ Knowledge, valid and enforceableothers, (ii) a no Person other than Seller is has the owner of recordright to use the Business Intellectual Property owned by Seller, and (iii) all maintenance fees and filings that are required Seller has the valid right to be made use, pursuant to maintain such Registered a license, sublicense or other agreement, any Business Intellectual Property have been timely made (taking into account any applicable grace periods)that is owned by a Person other than Seller.
(b) Schedule 4.09(b) sets forth, or at the Closing will set forth, a true and complete list of all Intellectual Property Licenses. Except as set forth on Schedule 4.09(b), Sellers have provided Buyer with true and complete copies of all such Intellectual Property Licenses. All such Intellectual Property Licenses are, to Sellers’ Knowledge, valid, binding and enforceable between the applicable Seller and the other parties thereto, and Seller and, to Sellers’ Knowledge, such other parties are in compliance with the material terms and conditions of such Intellectual Property Licenses.
(ci) To Sellers’ Knowledgethe Seller’s knowledge, the conduct of the Business as currently conducted does not infringeinfringe upon, misappropriate, dilute misappropriate or otherwise violateconflict with any Intellectual Property right of any third Person, and (ii) the Seller has not received from any Person in the past three 5 years any written notice, charge, compliant, claim or assertion of any of the foregoing and (3iii) years has not infringed, misappropriated or otherwise violated, any no such claim is impliedly threatened by an offer to license Intellectual Property rights from any third Person under claim of any Third Party. Sellers have not received any notice that Sellers’ use use.
(c) To the Seller’s knowledge, the execution and delivery of this Agreement and the consummation of the Transferred Transactions will not result in the loss of, or any Encumbrance on, the rights of Seller with respect to the Business Intellectual Property in the conduct of the Business as currently conducted infringes, misappropriates, dilutes or otherwise violates, or in the past three (3) years has infringed, misappropriated or otherwise violated, any Intellectual Property Rights of any Third Party. No Proceedings are pending and no written notices have been received owned by Sellers during the past three (3) years (or earlier, if presently not resolved), in each case, alleging any infringement, misappropriation or other violation by Sellers of the Intellectual Property rights of any Third Party. Except as set forth in Schedule 4.09(c), to Sellers’ Knowledge, during the past three (3) years (or earlier, if presently not resolved) no Person has infringed, misappropriated, diluted or otherwise violated any of the Owned Intellectual Property or Transferred Technology, and no Seller has made or asserted any claim, demand or notice against any person or entity alleging any such infringement, misappropriation, dilution or other violation. There is no Proceeding pending or, to Sellers’ Knowledge, threatened, challenging a Seller’s ownership of any Owned Intellectual Property, or its right to use any Transferred Intellectual Property, or challenging the validity, registrability, or enforceability of any Registered Intellectual Property included in the Owned Intellectual Property.it;
(d) Sellers represent that they are, each as applicableTo the Seller’s knowledge, the registrant execution and delivery of record this Agreement and the consummation of each domain name the transactions contemplated hereby will not result in the breach of, or create on behalf of any third Person the right to terminate or modify, (i) any license, sublicense or other agreement relating to any Business Intellectual Property owned by Seller, or (ii) any license, sublicense and other agreement as set forth in Schedule 4.09(d) (collectivelyto which Seller is a party and pursuant to which Seller is authorized to use any third Person Business Intellectual Property, the “Domain Names”).excluding generally commercially available, off-the-shelf software programs. 7148758.4
(e) Sellers have taken commercially reasonable measures to protect To the confidentiality Seller’s knowledge, no claim by any third Person contesting the validity, enforceability, use or ownership of all Trade Secrets included in any of the Owned Business Intellectual Property and no material Trade Secrets have has been disclosed by Sellers to any Person except pursuant to written non-disclosure agreements or other obligations of confidentialitymade, andis currently outstanding or, to Sellers’ KnowledgeSeller’s knowledge, has been threatened, and to Seller’s knowledge, there has not been a breach of any such agreement or obligation by any such Personare no grounds for the same.
(f) To the Seller’s Knowledgeknowledge, Sellers have obtained from each Person (including current and former employees and independent contractors) who has created the loss or developed for or on behalf expiration of Sellers any Owned Business Intellectual Property that is material rights would not reasonably be expected to the Business result in a written, present and, valid assignment of such Intellectual Property to a Seller.
(g) To Sellers’ Knowledge, in the past three (3) years, there has been no material unauthorized access to or material unauthorized use of any confidential or proprietary information or data that is both in Sellers’ possession or control and material to the Business.
(h) With respect to any material Software included within the Transferred Intellectual Property, to Sellers’ Knowledge (i) such Software is free from any material bugs, viruses or other malicious code, (ii) the Source Code for such Software has not been disclosed to any Third PartySeller Material Adverse Effect, and (iii) no such Software does not contain, derive from or link to any open source Software in a manner that requires the disclosure of any proprietary Source Code, limits the ability to charge fees, or grants any license to any Third Party to make derivative works.
(i) Neither the execution, delivery or performance of this Agreement, nor the consummation of the transactions contemplated by the Ancillary Agreements will result in the material loss or impairment of any of the Owned Intellectual Propertyexpiration is threatened, pending or reasonably foreseeable.
(j) All third-party code that is incorporated into the proprietary Software included in the Transferred Intellectual Property and that is critical to the operation of such Software is commercially available (each a “Critical IP License” and collectively “Critical IP Licenses”), and following Closing, Buyer will be able to procure a license for all such third-party code for (i) an aggregate amount during the one-year period immediately following the Closing that shall not exceed the amount reflected for such third-party code in the Unaudited Financial Statements by more than $200,000, and (ii) an aggregate amount during the twelve (12) months period following the initial one-year period immediately following Closing that shall not exceed the amount reflected for such third-party code in the Unaudited Financial Statements by more than $200,000; provided that any increases in license fees resulting from a volume increase, additional licenses or other change in the operation of Business post Closing shall not be breaches of this representation.
(k) Buyer and Sellers agree that the representations and warranties included in this Section 4.09 shall be the sole and exclusive representations and warranties of Sellers with respect to Intellectual Property matters in this Agreement.
Appears in 2 contracts
Samples: Asset Purchase Agreement (Corporate Resource Services, Inc.), Asset Purchase Agreement (Corporate Resource Services, Inc.)
Intellectual Property. (a) Schedule 4.09(a) sets forth a true 5.1 ORamaVR and complete list of any third party licensors hereby retain all (i) Registered Intellectual Property included in the Owned Intellectual Property, indicating for each item the registration or application number, the registration or application date, and the applicable filing jurisdiction and (ii) Owned Intellectual Property that is not registered but that is material to the operation of the Business. Sellers exclusively own all, right, title and interest in and to the Licensed Software, including without limitation all Owned copy-rights, patent rights, trademark rights and all other intellectual property rights therein or related thereto (“Intellectual PropertyProperty Rights”). This Agreement does not convey or otherwise provide to Customer title or any ownership rights or interests in or to any Intellectual Property Rights of ORamaVR or any of its affiliates, free including but not limited to those incorporated in the Licensed Software or any component of the Licensed Software, copyright, patents, patent applications, works of authorship, trade secrets, know-how, ideas or any other subject matter protectable under Intellectual Property Rights laws of any jurisdiction. ORamaVR and clear any third party licensors are the sole and exclusive owners of and retain all Encumbrances right, title and interest in and to all Licensed Software, including, all Intellectual Property Rights in each of the foregoing. Any rights not expressly granted to Customer herein are hereby reserved by ORamaVR.
5.2 Customer shall not engage in any act or failure to act, that enables, causes or facilitates any use or distribution of the Licensed Software in a manner that causes any patents, copyrights or other Intellectual Property Rights owned or controlled by ORamaVR or any of its affiliates to become subject to any encumbrance or terms and conditions of any Open Source License. The rights granted by ORamaVR are conditioned upon Customer’s full compliance with the foregoing sentence.
5.3 Customer will not: (i) reverse engineer, disassemble, decompile, or translate the Licensed Software, or otherwise attempt to derive the source code of the Licensed Software, except if and only to the extent expressly permitted by applicable law, (ii) use the Licensed Software or any part of the Licensed Software, the documentation or Customer’s knowledge of the Licensed Software to create a product with the same or substantially the same functionalities as the Licensed Software, to create or develop any developer Software (including without limitation plug-ins and middleware) or any software other than Permitted Encumbrances). Sellers are not bound by any outstanding judgment, injunction, order virtual reality Derivative Works; (iii) transfer or decree assign this Agreement or any contractual obligation materially restricting the use by a Seller of the Owned Intellectual Propertyrights, duties or materially restricting obligations hereunder; (iv) except as expressly permitted hereby, rent, lease, loan or otherwise in any manner provide or distribute the licensing Licensed Software and/or documentation or any copy of thereof to any Personthird party.
5.4 Customer, at its sole discretion, may report its findings and results of the use of the Licensed Software (“Feedback”). Feedback includes, without limitation, suggestions, comments, ideas or know how about the Licensed Software in direct connection with Customer’s evaluation and use (whether presented orally, in written form or otherwise) and Derivative Works or parts of the Derivative Works in machine readable form or source code. With respect to such Feedback, Customer hereby grants ORamaVR, under the Registered applicable Intellectual Property included in Rights owned by Customer, the Owned Intellectual Property listed on Schedule 4.09(a)worldwide, non-exclusive, perpetual, irrevocable, royalty-free rights: (i) all such Registered Intellectual Property is subsisting andto use, copy and modify Feedback, to Sellers’ Knowledge, valid and enforceablecreate derivative works and/or include such Feedback in the Licensed Software thereof, (ii) a Seller is the owner to make (and have made), use, import, sell, offer for sale, lease or otherwise distribute any products or services of recordORamaVR, containing Feedback, and (iii) all maintenance fees and filings that are required to be made to maintain such Registered Intellectual Property have been timely made (taking into account any applicable grace periods).
(b) Schedule 4.09(b) sets forth, or at sublicense the Closing will set forth, a true and complete list of all Intellectual Property Licenses. Except as set forth on Schedule 4.09(b), Sellers have provided Buyer with true and complete copies of all such Intellectual Property Licenses. All such Intellectual Property Licenses are, to Sellers’ Knowledge, valid, binding and enforceable between the applicable Seller and the other parties thereto, and Seller and, to Sellers’ Knowledge, such other parties are in compliance with the material terms and conditions of such Intellectual Property Licenses.
(c) To Sellers’ Knowledge, the conduct of the Business as currently conducted does not infringe, misappropriate, dilute or otherwise violate, and in the past three (3) years has not infringed, misappropriated or otherwise violated, any Intellectual Property foregoing rights of any Third Party. Sellers have not received any notice that Sellers’ use of the Transferred Intellectual Property in the conduct of the Business as currently conducted infringes, misappropriates, dilutes or otherwise violates, or in the past three (3) years has infringed, misappropriated or otherwise violated, any Intellectual Property Rights of any Third Party. No Proceedings are pending and no written notices have been received by Sellers during the past three (3) years (or earlier, if presently not resolved), in each case, alleging any infringement, misappropriation or other violation by Sellers of the Intellectual Property rights of any Third Party. Except as set forth in Schedule 4.09(c), to Sellers’ Knowledge, during the past three (3) years (or earlier, if presently not resolved) no Person has infringed, misappropriated, diluted or otherwise violated any of the Owned Intellectual Property or Transferred Technology, and no Seller has made or asserted any claim, demand or notice against any person or entity alleging any such infringement, misappropriation, dilution or other violation. There is no Proceeding pending or, to Sellers’ Knowledge, threatened, challenging a Seller’s ownership of any Owned Intellectual Property, or its right to use any Transferred Intellectual Property, or challenging the validity, registrability, or enforceability of any Registered Intellectual Property included in the Owned Intellectual Property.
(d) Sellers represent that they are, each as applicable, the registrant of record of each domain name as set forth in Schedule 4.09(d) (collectively, the “Domain Names”).
(e) Sellers have taken commercially reasonable measures to protect the confidentiality of all Trade Secrets included in the Owned Intellectual Property and no material Trade Secrets have been disclosed by Sellers to any Person except pursuant to written non-disclosure agreements or other obligations of confidentiality, and, to Sellers’ Knowledge, there has not been a breach of any such agreement or obligation by any such Person.
(f) To Seller’s Knowledge, Sellers have obtained from each Person (including current and former employees and independent contractors) who has created or developed for or on behalf of Sellers any Owned Intellectual Property that is material to the Business a written, present and, valid assignment of such Intellectual Property to a Seller.
(g) To Sellers’ Knowledge, in the past three (3) years, there has been no material unauthorized access to or material unauthorized use of any confidential or proprietary information or data that is both in Sellers’ possession or control and material to the Business.
(h) With respect to any material Software included within the Transferred Intellectual Property, to Sellers’ Knowledge (i) such Software is free from any material bugs, viruses or other malicious code, (ii) the Source Code for such Software has not been disclosed to any Third Party, and (iii) such Software does not contain, derive from or link to any open source Software in a manner that requires the disclosure of any proprietary Source Code, limits the ability to charge fees, or grants any license to any Third Party to make derivative works.
(i) Neither the execution, delivery or performance of this Agreement, nor the consummation of the transactions contemplated by the Ancillary Agreements will result in the material loss or impairment of any of the Owned Intellectual Property.
(j) All third-party code that is incorporated into the proprietary Software included in the Transferred Intellectual Property and that is critical to the operation of such Software is commercially available (each a “Critical IP License” and collectively “Critical IP Licenses”), and following Closing, Buyer will be able to procure extent a license is necessary for all such third-party code for (i) an aggregate amount during the one-year period immediately following the Closing that shall not exceed the amount reflected for such third-party code in the Unaudited Financial Statements by more than $200,000, and (ii) an aggregate amount during the twelve (12) months period following the initial one-year period immediately following Closing that shall not exceed the amount reflected for such third-party code in the Unaudited Financial Statements by more than $200,000; provided that any increases in license fees resulting from a volume increase, additional licenses using products or other change in the operation services of Business post Closing shall not be breaches of this representationORamaVR.
(k) Buyer and Sellers agree that the representations and warranties included in this Section 4.09 shall be the sole and exclusive representations and warranties of Sellers with respect to Intellectual Property matters in this Agreement.
Appears in 2 contracts
Samples: End User License Agreement, End User License Agreement
Intellectual Property. (aA) Schedule 4.09(a) sets forth a true and complete list Details of all registered Intellectual Property and material unregistered Intellectual Property owned or used by any member of the Sale Group are set out in the Current Rosneft Disclosure Letter and the specified member of the Sale Group:
(i) Registered Intellectual Property included in is the Owned sole legal and beneficial owner of such Intellectual Property, indicating for each item the registration or application number, the registration or application date, and the applicable filing jurisdiction and ; or
(ii) Owned uses such Intellectual Property that pursuant to and within the terms and provisions of a valid, subsisting written contractual agreement or licence to which it is not registered but that is material to a party.
(B) All renewal, application and other official registry fees and steps required for the operation maintenance, protection and enforcement of the Business. Sellers exclusively own all, right, title and interest in all Owned Intellectual Property, free and clear Property owned by any member of the Sale Group have been paid or taken.
(C) Copies of all Encumbrances (other than Permitted Encumbrances). Sellers are not bound material licences, agreements and arrangements relating to Intellectual Property entered into by any outstanding judgment, injunction, order or decree or any contractual obligation materially restricting the use by a Seller member of the Owned Intellectual PropertySale Group are set out in Folders 1.2.15.19 and 2.2.3.11 of the Rosneft Data Room and no such material licences, agreements or materially restricting arrangements are capable of termination as a result of the licensing thereof to any Person. With respect to the Registered Intellectual Property included change in the Owned Intellectual Property listed on Schedule 4.09(a)underlying ownership or control of any member of the Sale Group.
(D) No member of the Sale Group nor, (i) all such Registered Intellectual Property so far as Rosneft is subsisting andaware, any other party is in material breach of any of the licences, agreements and arrangements disclosed pursuant to Sellers’ Knowledge, valid and enforceable, (ii) a Seller is the owner of record, and (iii) all maintenance fees and filings that are required to be made to maintain such Registered Intellectual Property have been timely made (taking into account any applicable grace periodsParagraph 19(A).
(bE) Schedule 4.09(b) sets forthSo far as Rosneft is aware, no third party is infringing or at the Closing will set forth, a true and complete list making unauthorised use of all any Intellectual Property Licenses. Except as set forth on Schedule 4.09(bor rights in Business Information owned by any member of the Sale Group (or owned by any member of the Retained Group and relating to the business of any member of the Sale Group), Sellers have provided Buyer with true and complete copies of all such Intellectual Property Licenses. All such Intellectual Property Licenses are, to Sellers’ Knowledge, valid, binding and enforceable between the applicable Seller and the other parties thereto, and Seller and, to Sellers’ Knowledge, such other parties are in compliance with the material terms and conditions of such Intellectual Property Licenses.
(cF) To Sellers’ KnowledgeSo far as Rosneft is aware, the conduct activities of the Business as currently conducted does Sale Group do not infringe, misappropriate, dilute infringe or otherwise violatemake unauthorised use of, and in have not infringed or made unauthorised use of, the past three Intellectual Property of any third party.
(3G) years has not infringed, misappropriated No member of the Retained Group owns or otherwise violated, is licensed to use any Intellectual Property rights of or information which is also used by any Third Party. Sellers have not received any notice that Sellers’ use member of the Transferred Intellectual Property in the conduct of the Business as currently conducted infringes, misappropriates, dilutes or otherwise violates, or in the past three Sale Group.
(3H) years has infringed, misappropriated or otherwise violated, any Intellectual Property Rights of any Third Party. No Proceedings are pending and no written notices have been received by Sellers during the past three (3) years (or earlier, if presently not resolved), in each case, alleging any infringement, misappropriation or other violation by Sellers None of the Intellectual Property rights is the subject of any Third Party. Except as set forth in Schedule 4.09(c)litigation, to Sellers’ Knowledgedispute, during the past three (3) years (or earlier, if presently not resolved) no Person has infringed, misappropriated, diluted or otherwise violated any of the Owned Intellectual Property or Transferred Technology, and no Seller has made or asserted any claim, demand opposition or notice against any person or entity alleging any such infringement, misappropriation, dilution or other violation. There is no Proceeding pending or, to Sellers’ Knowledge, threatened, challenging a Seller’s ownership of any Owned Intellectual Property, or its right to use any Transferred Intellectual Property, or challenging the validity, registrability, or enforceability of any Registered Intellectual Property included in the Owned Intellectual Property.
(d) Sellers represent that they are, each as applicable, the registrant of record of each domain name as set forth in Schedule 4.09(d) (collectively, the “Domain Names”).
(e) Sellers have taken commercially reasonable measures to protect the confidentiality of all Trade Secrets included in the Owned Intellectual Property and no material Trade Secrets have been disclosed by Sellers to any Person except pursuant to written non-disclosure agreements or other obligations of confidentiality, administrative proceeding and, to Sellers’ Knowledgeso far as Rosneft is aware, there has not been a breach of any no such agreement litigation, dispute, claim, opposition or obligation by any such Personadministrative proceeding is expected or reasonably likely.
(f) To Seller’s Knowledge, Sellers have obtained from each Person (including current and former employees and independent contractors) who has created or developed for or on behalf of Sellers any Owned Intellectual Property that is material to the Business a written, present and, valid assignment of such Intellectual Property to a Seller.
(g) To Sellers’ Knowledge, in the past three (3) years, there has been no material unauthorized access to or material unauthorized use of any confidential or proprietary information or data that is both in Sellers’ possession or control and material to the Business.
(h) With respect to any material Software included within the Transferred Intellectual Property, to Sellers’ Knowledge (i) such Software is free from any material bugs, viruses or other malicious code, (ii) the Source Code for such Software has not been disclosed to any Third Party, and (iii) such Software does not contain, derive from or link to any open source Software in a manner that requires the disclosure of any proprietary Source Code, limits the ability to charge fees, or grants any license to any Third Party to make derivative works.
(i) Neither the execution, delivery or performance of this Agreement, nor the consummation of the transactions contemplated by the Ancillary Agreements will result in the material loss or impairment of any of the Owned Intellectual Property.
(j) All third-party code that is incorporated into the proprietary Software included in the Transferred Intellectual Property and that is critical to the operation of such Software is commercially available (each a “Critical IP License” and collectively “Critical IP Licenses”), and following Closing, Buyer will be able to procure a license for all such third-party code for (i) an aggregate amount during the one-year period immediately following the Closing that shall not exceed the amount reflected for such third-party code in the Unaudited Financial Statements by more than $200,000, and (ii) an aggregate amount during the twelve (12) months period following the initial one-year period immediately following Closing that shall not exceed the amount reflected for such third-party code in the Unaudited Financial Statements by more than $200,000; provided that any increases in license fees resulting from a volume increase, additional licenses or other change in the operation of Business post Closing shall not be breaches of this representation.
(k) Buyer and Sellers agree that the representations and warranties included in this Section 4.09 shall be the sole and exclusive representations and warranties of Sellers with respect to Intellectual Property matters in this Agreement.
Appears in 2 contracts
Samples: Framework Agreement (North Atlantic Drilling Ltd.), Framework Agreement (Seadrill LTD)
Intellectual Property. (a) Schedule 4.09(aSCHEDULE 2.21 and SCHEDULE 2.21(D) sets forth a true and complete correct list of all (i) Registered Intellectual Property included in registered Proprietary Rights owned by the Owned Intellectual PropertyCompany, indicating for each item the registration or application number, the registration or application date, and the applicable filing jurisdiction and (ii) Owned Intellectual Property that is not registered but that is applications for registrations of Proprietary Rights filed by the Company and (iii) unregistered trademarks and service marks and certain other Proprietary Rights owned or used by the Company which are material to the operation Company. SCHEDULE 2.21 also contains a complete and accurate list of all licenses (other than software licenses with respect to software that is commercially available from third parties) with respect to any material Proprietary Rights. The Company has complied in all material respects with all federal and international trademark laws and has made all necessary filings and has registered its material Proprietary Rights in all jurisdictions necessary to protect each of its Proprietary Rights set forth on SCHEDULE 2.21. The consummation of the BusinessClosing will not impair in any material respect any Proprietary Rights of the Company.
(b) The Company has the right to use all of its Proprietary Rights, including those listed in SCHEDULE 2.21 and SCHEDULE 2.21(D), without infringing the rights of any third party, except where such infringement would not have a Material Adverse Effect on the Company. Sellers exclusively own all, right, title and interest in all Owned Intellectual Property, Each of such Proprietary Rights is free and clear of all Encumbrances (royalty obligations and Liens other than Permitted Encumbrances)Liens. Sellers There are not bound by no Claims pending, or to the best knowledge of the Company and the Sellers, any outstanding judgmentClaims threatened, injunction, order or decree against the Company or any contractual obligation materially restricting Seller that its use of any Proprietary Rights infringes the use by a Seller rights of the Owned Intellectual Property, or materially restricting the licensing thereof to any Person. With The Company and the Sellers have no knowledge of any third-party's conflicting use of any of such Proprietary Rights that conflicts in any material respect to with the Registered Intellectual Property included in the Owned Intellectual Property listed on Schedule 4.09(a), (i) all such Registered Intellectual Property is subsisting and, to Sellers’ Knowledge, valid and enforceable, (ii) a Seller is the owner of recordCompany's Proprietary Rights, and (iii) all maintenance fees and filings that are required to be made to maintain any such Registered Intellectual Property conflicting uses will not have been timely made (taking into account any applicable grace periods).
(b) Schedule 4.09(b) sets forth, or at the Closing will set forth, a true and complete list of all Intellectual Property Licenses. Except as set forth on Schedule 4.09(b), Sellers have provided Buyer with true and complete copies of all such Intellectual Property Licenses. All such Intellectual Property Licenses are, to Sellers’ Knowledge, valid, binding and enforceable between the applicable Seller and the other parties thereto, and Seller and, to Sellers’ Knowledge, such other parties are in compliance with the material terms and conditions of such Intellectual Property LicensesMaterial Adverse Effect.
(c) To Sellers’ Knowledge, the conduct of the Business as currently conducted does not infringe, misappropriate, dilute or otherwise violate, and in the past three (3) years has not infringed, misappropriated or otherwise violated, any Intellectual Property rights of any Third Party. Sellers have not received any notice that Sellers’ use of the Transferred Intellectual Property in the conduct of the Business as currently conducted infringes, misappropriates, dilutes or otherwise violates, or in the past three (3) years has infringed, misappropriated or otherwise violated, any Intellectual Property Rights of any Third Party. No Proceedings are pending and no written notices have been received by Sellers during the past three (3) years (or earlier, if presently not resolved), in each case, alleging any infringement, misappropriation or other violation by Sellers of the Intellectual Property rights of any Third Party. Except as set forth in Schedule 4.09(cSCHEDULE 2.21 or SCHEDULE 2.21(D), the Company is not a party in any capacity to Sellers’ Knowledgeany franchise, during the past three (3) years (license or earlier, if presently not resolved) no Person has infringed, misappropriated, diluted or otherwise violated royalty agreement respecting any of the Owned Intellectual Property or Transferred Technology, Proprietary Right and no Seller has made or asserted any claim, demand or notice against any person or entity alleging any such infringement, misappropriation, dilution or other violation. There there is no Proceeding pending or, to Sellers’ Knowledge, threatened, challenging a Seller’s ownership conflict with the rights of any Owned Intellectual Property, or its right to use any Transferred Intellectual Property, or challenging the validity, registrability, or enforceability of any Registered Intellectual Property included others in the Owned Intellectual Property.
(d) Sellers represent that they are, each as applicable, the registrant of record of each domain name as set forth in Schedule 4.09(d) (collectively, the “Domain Names”).
(e) Sellers have taken commercially reasonable measures to protect the confidentiality of all Trade Secrets included in the Owned Intellectual Property and no material Trade Secrets have been disclosed by Sellers to any Person except pursuant to written non-disclosure agreements or other obligations of confidentiality, and, to Sellers’ Knowledge, there has not been a breach of any such agreement or obligation by any such Person.
(f) To Seller’s Knowledge, Sellers have obtained from each Person (including current and former employees and independent contractors) who has created or developed for or on behalf of Sellers any Owned Intellectual Property that is material to the Business a written, present and, valid assignment of such Intellectual Property to a Seller.
(g) To Sellers’ Knowledge, in the past three (3) years, there has been no material unauthorized access to or material unauthorized use of any confidential or proprietary information or data that is both in Sellers’ possession or control and material to the Business.
(h) With respect to any material Software included within the Transferred Intellectual Property, to Sellers’ Knowledge (i) such Software is free from any material bugs, viruses or other malicious code, (ii) the Source Code for such Software has not been disclosed to any Third Party, and (iii) such Software does not contain, derive from or link to any open source Software in a manner that requires the disclosure of any proprietary Source Code, limits the ability to charge fees, or grants any license to any Third Party to make derivative works.
(i) Neither the execution, delivery or performance of this Agreement, nor the consummation of the transactions contemplated by the Ancillary Agreements will result Proprietary Right now used in the material loss or impairment conduct of any of the Owned Intellectual Propertyits business.
(j) All third-party code that is incorporated into the proprietary Software included in the Transferred Intellectual Property and that is critical to the operation of such Software is commercially available (each a “Critical IP License” and collectively “Critical IP Licenses”), and following Closing, Buyer will be able to procure a license for all such third-party code for (i) an aggregate amount during the one-year period immediately following the Closing that shall not exceed the amount reflected for such third-party code in the Unaudited Financial Statements by more than $200,000, and (ii) an aggregate amount during the twelve (12) months period following the initial one-year period immediately following Closing that shall not exceed the amount reflected for such third-party code in the Unaudited Financial Statements by more than $200,000; provided that any increases in license fees resulting from a volume increase, additional licenses or other change in the operation of Business post Closing shall not be breaches of this representation.
(k) Buyer and Sellers agree that the representations and warranties included in this Section 4.09 shall be the sole and exclusive representations and warranties of Sellers with respect to Intellectual Property matters in this Agreement.
Appears in 2 contracts
Samples: Purchase Agreement (Travel Services International Inc), Purchase Agreement (Travel Services International Inc)
Intellectual Property. (a) Schedule 4.09(a) sets forth Except as individually or in the aggregate would not be reasonably likely to have or result in, a true and complete list of all Material Adverse Effect on Parent:
(i) Registered Parent, or one of its Subsidiaries, is the sole and exclusive owner of, or possesses adequate licenses or other rights to use, all Intellectual Property included used in the Owned Intellectual Property, indicating for each item the registration or application number, the registration or application date, and the applicable filing jurisdiction and (ii) Owned Intellectual Property that is not registered but that is material to the operation present conduct of the Business. Sellers exclusively own all, right, title businesses of Parent and interest in all Owned Intellectual Propertyits Subsidiaries (“Parent IP Rights”), free and clear of all Encumbrances security interests (other than except Permitted Encumbrances). Sellers are Liens) including but not bound by any outstanding judgmentlimited to liens, injunctioncharges, order mortgages, title retention agreements or decree title defects;
(ii) to Parent’s knowledge, no consent, co-existence or settlement agreements, judgments, or court orders limit or restrict Parent’s or any contractual obligation materially restricting of its Subsidiary’s ownership rights in and to any Intellectual Property owned by them;
(iii) the use by a Seller conduct of the Owned business of Parent and its Subsidiaries as presently conducted does not, to the knowledge of Parent, infringe or misappropriate any third Person’s Intellectual Property; or
(iv) to the knowledge of Parent, no third Person is infringing or misappropriating any Intellectual Property, owned by Parent or its Subsidiaries, and to the knowledge of Parent there is no litigation pending or threatened in writing by or against Parent or any of its Subsidiaries, nor, to the knowledge of Parent, has Parent or any of its Subsidiaries received any written charge, claim, complaint, demand, letter or notice, that asserts a claim (a) alleging that any or all of Parent IP Rights infringe or misappropriate any third party’s Intellectual Property, or materially restricting (b) challenging the licensing thereof to ownership, use, validity, or enforceability of any Person. With respect to the Registered Intellectual Property included in the Owned Intellectual Property listed on Schedule 4.09(a), (i) all such Registered Intellectual Property is subsisting and, to Sellers’ Knowledge, valid and enforceable, (ii) a Seller is the owner of record, and (iii) all maintenance fees and filings that are required to be made to maintain such Registered Intellectual Property have been timely made (taking into account any applicable grace periods)Parent IP Right.
(b) Schedule 4.09(b) sets forth, or at the Closing will set forth, a true and complete list of all All Intellectual Property Licenses. Except as set forth on Schedule 4.09(b)owned by Parent or its Subsidiaries that is the subject of an application for registration or a registration (“Registered Parent IP”) is to the knowledge of Parent, Sellers have provided Buyer with true and complete copies of all such Intellectual Property Licenses. All such Intellectual Property Licenses are, to Sellers’ Knowledge, valid, binding and enforceable between the applicable Seller and the other parties theretoin force, and Seller andall application, renewal and maintenance fees in relation to Sellers’ Knowledgeall Registered Parent IP have been paid to date, such other parties are in compliance with the material terms and conditions of such Intellectual Property Licensesexcept for any Registered Parent IP that Parent has abandoned, not renewed or allowed to expire.
(c) To Sellers’ Knowledge, the conduct of the Business Except for such matters as currently conducted does not infringe, misappropriate, dilute or otherwise violate, and in the past three (3) years has not infringed, misappropriated or otherwise violated, any Intellectual Property rights of any Third Party. Sellers have not received any notice that Sellers’ use of the Transferred Intellectual Property in the conduct of the Business as currently conducted infringes, misappropriates, dilutes or otherwise violates, individually or in the past three aggregate have not had and would not be reasonably likely to have or result in a Material Adverse Effect on Parent, to Parent’s knowledge (3i) years there does not exist, nor has infringed, misappropriated Parent or otherwise violatedany of its Subsidiaries received written notice of, any Intellectual Property Rights breach of any Third Party. No Proceedings are pending and no written notices have been received by Sellers during the past three (3) years (or earlierviolation or default under, if presently not resolved), in each case, alleging any infringement, misappropriation or other violation by Sellers of the Intellectual Property rights of any Third Party. Except as set forth in Schedule 4.09(c), to Sellers’ Knowledge, during the past three (3) years (or earlier, if presently not resolved) no Person has infringed, misappropriated, diluted or otherwise violated any of the Owned Intellectual Property terms, conditions or Transferred Technology, and no Seller has made or asserted any claim, demand or notice against any person or entity alleging any such infringement, misappropriation, dilution or other violation. There is no Proceeding pending or, to Sellers’ Knowledge, threatened, challenging a Seller’s ownership provisions of any Owned Intellectual Property, or its right material contracts related to use any Transferred Intellectual Property, or challenging the validity, registrability, or enforceability of any Registered Intellectual Property included in the Owned Intellectual Property.
(d) Sellers represent that they are, each as applicable, the registrant of record of each domain name as set forth in Schedule 4.09(d) (collectively, the “Domain Names”).
(e) Sellers have taken commercially reasonable measures to protect the confidentiality of all Trade Secrets included in the Owned Intellectual Property and no material Trade Secrets have been disclosed by Sellers to any Person except pursuant to written non-disclosure agreements or other obligations of confidentiality, and, to Sellers’ Knowledge, there has not been a breach of any such agreement or obligation by any such Person.
(f) To Seller’s Knowledge, Sellers have obtained from each Person (including current and former employees and independent contractors) who has created or developed for or on behalf of Sellers any Owned Intellectual Property that is material to the Business a written, present and, valid assignment of such Intellectual Property to a Seller.
(g) To Sellers’ Knowledge, in the past three (3) years, there has been no material unauthorized access to or material unauthorized use of any confidential or proprietary information or data that is both in Sellers’ possession or control and material to the Business.
(h) With respect to any material Software included within the Transferred Intellectual Property, to Sellers’ Knowledge (i) such Software is free from any material bugs, viruses or other malicious code, (ii) the Source Code for such Software has not been disclosed to any Third Party, and (iii) such Software does not contain, derive from or link to any open source Software in a manner that requires the disclosure of any proprietary Source Code, limits the ability to charge fees, or grants any license to any Third Party to make derivative works.
(i) Neither the execution, delivery or performance of this Agreement, nor the consummation of the transactions contemplated by the Ancillary Agreements will result in the material loss or impairment of any of the Owned Intellectual Property.
(j) All third-party code that is incorporated into the proprietary Software included in the Transferred Intellectual Property and that is critical to the operation of such Software is commercially available (each a “Critical Parent IP License” and collectively “Critical IP Licenses”), and following Closing, Buyer will be able to procure a license for all such third-party code for (i) an aggregate amount during the one-year period immediately following the Closing that shall not exceed the amount reflected for such third-party code in the Unaudited Financial Statements by more than $200,000Rights, and (ii) an aggregate amount during neither Parent nor any of its Subsidiaries has received written notice of the twelve (12) months period following desire of the initial one-year period immediately following Closing that shall not exceed the amount reflected for other party or parties to any such third-material contracts relating to Parent IP Rights to exercise any rights such party code in the Unaudited Financial Statements by more than $200,000; provided that any increases in license fees resulting from a volume increaseor parties have to cancel, additional licenses terminate or other change in the operation of Business post Closing shall not be breaches of this representationrepudiate such material contract relating to Parent IP Rights or exercise remedies thereunder.
(k) Buyer and Sellers agree that the representations and warranties included in this Section 4.09 shall be the sole and exclusive representations and warranties of Sellers with respect to Intellectual Property matters in this Agreement.
Appears in 2 contracts
Samples: Merger Agreement (Forest Oil Corp), Merger Agreement (Houston Exploration Co)