Common use of Maintenance of Collateral; Compliance with Law Clause in Contracts

Maintenance of Collateral; Compliance with Law. Except to the extent that any Grantor in its reasonable good faith judgment determines that any such action is not necessary or desirable in the conduct of such Grantor’s business: (a) each Grantor shall have the duty to prosecute diligently any patent applications, copyright applications and trademark registrations pending as of the date of this Agreement or thereafter and to obtain, preserve and maintain all rights in the Registered Intellectual Property that is Intellectual Property Collateral owned by any Grantor, including without limitation validly obtaining and duly recording with PTO, patent assignments from the inventors of patentable inventions and the payment when due of all maintenance fees and other fees, taxes and other expenses which shall be incurred or which shall accrue with respect to any of the Intellectual Property; (b) no Grantor shall abandon any filed application, or any pending application or any Registered Intellectual Property that is Intellectual Property Collateral owned by any Grantor without the consent of the Agent, which consent shall not be unreasonably withheld; and (c) each Grantor shall maintain all Collateral in good workable condition, ordinary wear and tear excepted, and will not knowingly use the same in violation of any law or any policy of insurance thereon. Upon reasonable prior written notice to the applicable Grantor of not less than five (5) business days, except that no such notice shall be required following the occurrence and during the continuance of a Default or Event of Default, the Agent or its designee may inspect the Collateral during normal business hours, wherever located. Each Grantor will pay promptly when due all taxes, assessments, governmental charges and levies upon the Collateral or incurred in connection with this Agreement. Each Grantor has at all times operated, and each Grantor will continue to operate, its business in compliance with all applicable provisions of the federal Fair Labor Standards Act.

Maintenance of Collateral; Compliance with Law. Except to the extent that any Grantor the Issuer in its reasonable good faith judgment determines that any such action is not necessary or desirable in the conduct of such Grantorthe Issuer’s business: (a) each Grantor the Issuer shall have the duty to prosecute diligently any patent applications, copyright applications and trademark registrations pending as of the date of this Agreement or thereafter and to obtain, preserve and maintain all rights in the Registered Intellectual Property that is Intellectual Property Collateral owned by any GrantorIssuer, including without limitation validly obtaining and duly recording with PTO, patent assignments from the inventors of patentable inventions and the payment when due of all maintenance fees and other fees, taxes and other expenses which shall be incurred or which shall accrue with respect to any of the Intellectual Property; (b) no Grantor the Issuer shall not abandon any filed application, or any pending application or any Registered Intellectual Property that is Intellectual Property Collateral owned by any Grantor Issuer without the consent of the Agent, which consent shall not be unreasonably withheld; and (c) each Grantor the Issuer shall maintain all Collateral in good workable condition, ordinary wear and tear excepted, and will not knowingly use the same in violation of any law or any policy of insurance thereon. Upon reasonable prior written notice to the applicable Grantor Issuer of not less than five (5) business days, except that no such notice shall be required following the occurrence and during the continuance of a Default or Event of Default, the Agent or its designee may inspect the Collateral during normal business hours, wherever located. Each Grantor The Issuer will pay promptly when due all taxes, assessments, governmental charges and levies upon the Collateral or incurred in connection with this Agreement. Each Grantor Issuer has at all times operated, and each Grantor the Issuer will continue to operate, its business in compliance with all applicable provisions of the federal Fair Labor Standards Act.

Maintenance of Collateral; Compliance with Law. Except to the extent that any Grantor in its reasonable good faith judgment determines that any such action is not necessary or desirable in the conduct of such Grantor’s business: (a) each Grantor shall have the duty to prosecute diligently any patent applications, copyright applications and trademark registrations pending as of the date of this Agreement or thereafter and to obtain, preserve and maintain all rights in the Registered Intellectual Property that is Intellectual Property Collateral owned by any Grantor, including without limitation validly obtaining and duly recording with PTO, patent assignments from the inventors of patentable inventions and the payment when due of all maintenance fees and other fees, taxes and other expenses which shall be incurred or which shall accrue with respect to any of the Intellectual Property; (b) no Grantor shall abandon any filed application, or any pending application or any Registered Intellectual Property that is Intellectual Property Collateral owned by any Grantor without the consent of the Agent, which consent shall not be unreasonably withheld; and (c) each Grantor shall maintain all Collateral in good workable condition, ordinary wear and tear excepted, and will not knowingly use the same in violation of any law or any policy of insurance thereon. Upon reasonable prior written notice to the applicable Grantor of not less than five (5) business days, except that no such notice shall be required following the occurrence and during the continuance of a Default or Event of Default, the Agent or its designee may inspect the Collateral during normal business hours, wherever located. Each Grantor will pay promptly when due all taxes, assessments, governmental charges and levies upon the Collateral or incurred in connection with this Agreement. Each Grantor has at all times operated, and each Grantor will continue to operate, its business in compliance with all applicable provisions of the federal Fair Labor Standards Act.this