Permitted Bond Hedge Transactions. Notwithstanding anything to the contrary herein, any Investment in the form of a transfer of title (or transfer of similar effect) of Material Intellectual Property by Loan Parties to Unrestricted Subsidiaries shall not be permitted; provided that notwithstanding the foregoing, for the avoidance of doubt, the above references to a transfer of title (or transfer of similar effect) with respect to Material Intellectual Property shall not be deemed or interpreted to include a transfer of Material Intellectual Property in the form of any license or sublicense agreement in the ordinary course of business or entered into for legitimate business purposes (as determined by the Parent Borrower in good faith) that is only exclusive with respect to a particular type or field (or types or fields) of usage or a certain territory or group of territories.
Appears in 4 contracts
Samples: First Lien Credit Agreement (Bowlero Corp.), First Lien Credit Agreement (Bowlero Corp.), First Lien Credit Agreement (Bowlero Corp.)
