Negative Pledge of Intellectual Property. Borrower shall not, without Bank's prior written consent which consent shall not be unreasonably withheld, sell, transfer, assign, mortgage, pledge, lease, grant a security interest in, or encumber any of Borrowers intellectual property, including, without limitation, the following:
Negative Pledge of Intellectual Property. Except for Permitted Liens, assign, pledge, grant a security interest in or upon, or encumber any of Borrower’s or any Subsidiary’s Intellectual Property existing now or in the future, in favor of any third party, without receiving Bank’s prior written consent.
Negative Pledge of Intellectual Property. Without Bank's prior ---------------------------------------- written consent which consent shall not be unreasonably withheld, sell, transfer, assign, mortgage, pledge, lease, grant a security interest in, or encumber any of Borrower's Intellectual Property Assets; provided, however, that Bank hereby acknowledges that Borrower shall have the right to encumber its Intellectual Property Assets in connection with sales or licenses of same to customers in the ordinary course of business, including by way of example and without limitation, the right to escrow its software in various circumstances on behalf of Borrower's customers in the ordinary course of business, in circumstances not constituting a Material Adverse Effect.
Negative Pledge of Intellectual Property. The Company will not pledge, mortgage, grant or permit the creation of any lien or any kind upon the Company's intellectual property without the Purchasers' prior written consent; provided, however, that nothing in this paragraph shall prevent Company from granting licenses of its intellectual property in the ordinary course of its business.
Negative Pledge of Intellectual Property. Borrower and ENTEX of Michigan each agree that, so long as any obligations of Borrower under the Agreement remain outstanding, Borrower will cause ENTEX of Michigan not to grant or permit to exist, and ENTEX of Michigan will not grant or permit to exist, any lien on or security interest in any Intellectual Property transferred to or hereafter acquired by ENTEX of Michigan, without the prior written consent of IBM Credit.
Negative Pledge of Intellectual Property
