Common use of Pledged Intellectual Property Clause in Contracts

Pledged Intellectual Property. (a) (i) As of the Closing Date, Schedule 5.24 lists all of the following owned by such Credit Party in its own name: (i) trademark registrations and applications for registration of trademarks; (ii) patents and patent applications; and (iii) registered copyrights and applications for registration of copyrights. (b) On the date hereof, all material Intellectual Property owned by any Credit Party is valid, subsisting, unexpired and enforceable, has not been abandoned and, to such Credit Party’s knowledge, does not infringe the intellectual property rights of any other Person. (c) Except as set forth in Schedule 5.24, as of the Closing Date, none of the material Intellectual Property owned by any Credit Party is the subject of any material licensing or franchise agreement pursuant to which such Credit Party is the licensor or franchisor. (d) No holding, decision or judgment has been rendered by any Governmental Authority which would limit, cancel or question the validity of, or any Credit Party’s rights in, any material Intellectual Property owned by any Credit Party in any material respect. (e) No action or proceeding is pending, or, to the knowledge of such Credit Party, threatened, on the date hereof (i) seeking to limit, cancel or question the validity of any material Intellectual Property owned by any Credit Party or any Credit Party’s ownership interest therein, or (ii) which, if adversely determined, would adversely affect the value of any such material Intellectual Property.

Pledged Intellectual Property. (a) (i) As of the Closing ClosingEighth Amendment Effective Date, Schedule 5.24 lists all of the following owned by such Credit Party in its own name: (i) trademark registrations and applications for registration of trademarks; (ii) patents and patent applications; and (iii) registered copyrights and applications for registration of copyrights. (b) On the date hereofhereofEighth Amendment Effective Date, all material Intellectual Property owned by any Credit Party is valid, subsisting, unexpired and enforceable, has not been abandoned and, to such Credit Party’s knowledge, does not infringe the intellectual property rights of any other Person. (c) Except as set forth in Schedule 5.24, as of the Closing ClosingEighth Amendment Effective Date, none of the material Intellectual Property owned by any Credit Party is the subject of any material licensing or franchise agreement pursuant to which such Credit Party is the licensor or franchisor. (d) No holding, decision or judgment has been rendered by any Governmental Authority which would limit, cancel or question the validity of, or any Credit Party’s rights in, any material Intellectual Property owned by any Credit Party in any material respect. (e) No action or proceeding is pending, or, to the knowledge of such Credit Party, threatened, on the date hereof (i) seeking to limit, cancel or question the validity of any material Intellectual Property owned by any Credit Party or any Credit Party’s ownership interest therein, or (ii) which, if adversely determined, would adversely affect the value of any such material Intellectual Property.