Common use of New Patents Clause in Contracts

New Patents. Grantor represents and warrants that, based on a diligent investigation by Grantor, the Patents listed on Schedule A constitute all of the federally registered Patents and Patent applications now owned by Grantor. If, before the Liabilities shall have been satisfied in full, Grantor shall (i) become aware of any existing Patents of which Grantor has not previously informed Collateral Agent, (ii) obtain rights to any new patentable inventions or Patents, or (iii) become entitled to the benefit of any Patents, which benefit is not in existence on the date hereof, the provisions of this Security Agreement above shall automatically apply thereto and Grantor shall give to Collateral Agent prompt written notice thereof. Grantor hereby authorizes Collateral Agent to modify this Security Agreement by amending Schedule A to include any such Patents.

New Patents. Grantor represents and warrants that, based on a diligent investigation by Grantor, the Patents listed on Schedule A constitute all of the federally registered Patents and Patent applications now owned by Grantor. If, before the Liabilities shall have been satisfied in fullfull or before the Financing Agreements have been terminated, Grantor shall (i) become aware of any existing Patents of which Grantor has not previously informed Collateral Agent, (ii) obtain rights to any new patentable inventions or Patents, or (iii) become entitled to the benefit of any Patents, which benefit is not in existence on the date hereof, the provisions of this Security Agreement above shall automatically apply thereto and Grantor shall give to Collateral Agent prompt written notice thereof. Grantor hereby authorizes Collateral Agent to modify this Security Agreement by amending Schedule A to include any such Patents.

New Patents. Grantor represents and warrants that, based on a diligent investigation by Grantor, the Patents listed on Schedule A constitute all of the federally registered Patents patents, and Patent federal applications for registration of patents now owned by Grantor. If, before the Liabilities Obligations shall have been satisfied in fullfull or before the Loan Documents have been terminated, Grantor shall (ia) become aware of any existing registered Patents of which Grantor has not previously informed Collateral Agent, (ii) obtain rights to any new patentable inventions or Patentsthe Bank, or (iiib) become entitled to the benefit of any registered Patents, which benefit is not in existence on the date hereof, the provisions of this Security Agreement above shall automatically apply thereto and Grantor shall give to Collateral Agent the Bank prompt written notice thereof. Grantor hereby authorizes Collateral Agent the Bank to modify this Security Agreement by amending Schedule A to include any such Patents.