Common use of License of Intellectual Property Clause in Contracts

License of Intellectual Property. Borrower hereby assigns, transfers and conveys to Lender, effective upon the occurrence of any Event of Default hereunder, the non-exclusive right and license to use all Intellectual Property owned or used by Borrower together with any goodwill associated therewith, all to the extent necessary to enable Lender to realize on the Collateral and any successor or assign to enjoy the benefits of the Collateral. This right and license shall inure to the benefit of all successors, assigns and transferees of Lender and its successors, assigns and transferees, whether by voluntary conveyance, operation of law, assignment, transfer, foreclosure, deed in lieu of foreclosure or otherwise. Such right and license is granted free of charge, without requirement that any monetary payment whatsoever be made to Borrower by Lender.

License of Intellectual Property. Borrower hereby assigns, transfers and conveys to LenderAgent, for the benefit of Lenders, effective upon the occurrence of any Event of Default hereunder, the non-exclusive right and license to use all Intellectual Property owned or used by Borrower together with any goodwill associated therewith, all to the extent necessary to enable Lender Agent to realize on the Collateral and any successor or assign to enjoy the benefits of the Collateral. This right and license shall inure to the benefit of all successors, assigns and transferees of Lender Agent and its successors, assigns and transferees, whether by voluntary conveyance, operation of law, assignment, transfer, foreclosure, deed in lieu of foreclosure or otherwise. Such right and license is granted free of charge, without requirement that any monetary payment whatsoever be made to Borrower by LenderAgent.

License of Intellectual Property. Borrower hereby assigns, transfers and conveys to LenderAgent, effective upon the occurrence of any Event of Default hereunder, the non-exclusive nonexclusive right and license to use all Intellectual Property owned or used by Borrower together with any goodwill associated therewith, all to the extent necessary to enable Lender Agent to realize on the Collateral and any successor or assign to enjoy the benefits of the Collateral. This right and license shall inure to the benefit of Agent and all successors, assigns and transferees of Lender and its successors, assigns and transferees, whether by voluntary conveyance, operation of law, assignment, transfer, foreclosure, deed in lieu of foreclosure or otherwise. Such right and license is granted free of charge, without requirement that any monetary payment whatsoever be made to Borrower by LenderAgent.

License of Intellectual Property. Borrower Each Debtor hereby assigns, transfers and conveys to LenderAgent, effective upon the occurrence and during the continuance of any Event of Default hereunderDefault, the non-exclusive nonexclusive right and license to use all Intellectual Property owned or used by Borrower such Debtor together with any goodwill associated therewith, all to the extent necessary to enable Lender Agent to realize use on the Collateral and any successor or assign to enjoy the benefits of the Collateral. This right and license shall inure to the benefit of all successors, assigns and transferees of Lender Agent and its successors, assigns and transferees, whether by voluntary conveyance, operation of law, assignment, transfer, foreclosure, deed in lieu of foreclosure or otherwise. Such right and license is granted free of charge, without requirement that any monetary payment whatsoever be made to Borrower any Debtor by LenderAgent.

License of Intellectual Property. Borrower Each Grantor hereby assigns, transfers and conveys to LenderAgent, effective upon the occurrence and during the continuation of any Event of Default hereunder, the non-exclusive nonexclusive right and license to use all Intellectual Property owned or used by Borrower such Grantor together with any goodwill associated therewith, all to the extent necessary to enable Lender Agent to realize on the Collateral and any successor or assign to enjoy the benefits of the Collateral. This right and license shall inure to the benefit of all successors, assigns and transferees of Lender Agent and its successors, assigns and transferees, whether by voluntary conveyance, operation of law, assignment, transfer, foreclosure, deed in lieu of foreclosure or otherwise. Such right and license is granted free of charge, without requirement that any monetary payment whatsoever be made to Borrower any Grantor by LenderAgent.

License of Intellectual Property. Borrower Debtor hereby assigns, transfers and conveys to LenderAgent, effective upon the occurrence of any Event of Default hereunder, the non-exclusive nonexclusive right and license to use all Intellectual Property owned or used by Borrower Debtor together with any goodwill associated therewith, all to the extent necessary to enable Lender Agent to realize on the Collateral and any successor or assign to enjoy the benefits of the Collateral. This right and license shall inure to the benefit of Agent and all successors, assigns and transferees of Lender and its successors, assigns and transferees, whether by voluntary conveyance, operation of law, assignment, transfer, foreclosure, deed in lieu of foreclosure or otherwise. Such right and license is granted free of charge, without requirement that any monetary payment whatsoever be made to Borrower Debtor by LenderAgent.