Common use of OWNERSHIP OF CERTAIN ASSETS Clause in Contracts

OWNERSHIP OF CERTAIN ASSETS. The Borrower and/or its Subsidiaries shall sell, convey or otherwise transfer or dispose of any material intellectual property or license agreement owned by or licensed to the Borrower or any of its Subsidiaries or any material license agreement to which the Borrower or any of its Subsidiaries is a party other than (A) a sale, conveyance or other transfer (other than a Lien) to a Domestic Subsidiary, (B) licenses pursuant to Franchise Agreements pledged to the Agent pursuant to the Security Documents and (C) any Asset Disposition permitted by the terms of any of the Loan Documents.

OWNERSHIP OF CERTAIN ASSETS. The Borrower and/or its Subsidiaries shall sell, convey or otherwise transfer or dispose of any material intellectual property or license 97 103 agreement owned by or licensed to the Borrower or any of its Subsidiaries or any material license agreement to which the Borrower or any of its Subsidiaries is a party other than (A) a sale, conveyance or other transfer (other than a Lien) to a Domestic Subsidiary, (B) licenses pursuant to Franchise Agreements pledged to the Agent pursuant to the Security Documents and (C) any Asset Disposition permitted by the terms of any of the Loan Documents.

OWNERSHIP OF CERTAIN ASSETS. The Borrower and/or its --------------------------- Subsidiaries shall sell, convey or otherwise transfer or dispose of any material intellectual property or license agreement owned by or licensed to the Borrower or any of its Subsidiaries or any material license agreement to which the Borrower or any of its Subsidiaries is a party other than (A) a sale, conveyance or other transfer (other than a Lien) to a Domestic Subsidiary, (B) licenses pursuant to Franchise Agreements pledged to the Agent pursuant to the Security Documents and (C) any Asset Disposition permitted by the terms of any of the Loan Documents.