Owner Activities Clause Samples
The "Owner Activities" clause defines the responsibilities and actions that the project owner must undertake during the course of a contract or project. This typically includes providing necessary information, approvals, access to the site, or resources required by the contractor to perform their work efficiently. For example, the owner may be required to supply design documents or respond to contractor requests within specified timeframes. The core function of this clause is to ensure that the owner's obligations are clearly outlined, minimizing delays and misunderstandings that could impact project progress.
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Owner Activities. IP Owner will not have any (i) employees, (ii) outstanding Indebtedness for borrowed money or (iii) material liabilities not incurred in the ordinary course of ownership, development, acquisition, maintenance or licensing of the Intellectual Property. There shall be no Liens with respect to, or upon, the Intellectual Property covered by the Trademark License Agreement or Replacement Trademark License Agreement and IP Owner’s interest in the Trademark License Agreements. For the avoidance of doubt, IP Owner shall be permitted to grant licenses with respect to the Intellectual Property to any other Person (whether such Person is or is not an Affiliate of any Mortgage Loan Party, Borrower or IP Owner) at no expense to Mortgage Borrower or any other Mortgage Loan Party.
Owner Activities. (a) Borrower agrees that it will not do any act, or omit to do any act (and will exercise commercially reasonable efforts to prevent its licensees from doing any act or omitting to do any act), whereby any IP Collateral may become invalidated, abandoned or dedicated to the public.
(b) Borrower (either through itself or its licensees or sublicensees) will, as to each Trademark included in the IP Collateral, reasonably maintain the quality of the products and services offered under such Trademark.
(c) If Borrower shall, at any time after the date hereof, obtain any additional Intellectual Property or IP Licenses, then the provisions of this Agreement shall automatically apply thereto and any such Intellectual Property and/or IP Licenses shall automatically constitute IP Collateral and shall be subject to the lien and security interest created by this Agreement, the Assignment of Agreements, or any other Loan Document without further action by any party.
(d) Borrower shall promptly notify Lender if it knows or has reason to know that any IP Collateral that is material to the use, ownership, management, leasing, renovation, financing, development, operation and maintenance of the Property may become abandoned or dedicated to the public, or of any adverse determination or development (including the institution of, or any such determination or development in, any proceeding in the United States Patent and Trademark Office, United States Copyright Office, or any court or similar office of any other country) regarding IP Owner's ownership of such IP Collateral or, its right to register or maintain the same.
(e) If Borrower knows that any IP Collateral, has been or is being misappropriated, diluted, infringed, or otherwise violated by a third party, then Borrower shall promptly notify Lender and shall use commercially reasonable efforts to protect its rights in such IP Collateral including, and, if consistent with its reasonable business judgment, to promptly ▇▇▇ for infringement, misappropriation, or dilution and to recover any and all damages for such infringement, misappropriation or dilution.
(f) Upon the occurrence and during the continuance of any Event of Default, Borrower shall use commercially reasonable efforts to obtain all requisite consents or approvals by the licensor of each IP License to effect the assignment of the relevant IP Owner's right, title, and interest thereunder to Lender.
(g) There shall be no Liens with respect to, or upon, or no restri...
Owner Activities. The schedule shall provide for the orderly progression of the Work to completion and shall not exceed time limits current under the Contract Documents. The schedule shall be revised at appropriate intervals as required by the conditions of the Work and Project and, upon such revision, shall be submitted to Architect and Owner for their review and approval. In no case will the schedule be updated less frequently than each application for payment. The Contractor’s schedule may be considered when evaluating a request for additional time.