Properties and Rights Clause Samples
The 'Properties and Rights' clause defines the ownership and usage rights of tangible and intangible assets involved in an agreement. It typically clarifies which party retains or receives rights to property such as intellectual property, physical goods, or data created or used during the relationship. For example, it may specify that inventions developed during a project belong to the employer, or that each party retains ownership of their pre-existing materials. This clause is essential for preventing disputes over asset ownership and ensuring both parties understand their rights and obligations regarding property created or exchanged under the contract.
Properties and Rights. The Servicer (if applicable, taking into account the services provided to it by the Subservicer under the Advisory Agreement) has sufficient properties, assets, personnel, licenses and rights as are reasonably necessary for the Servicer’s performance of its duties and obligations hereunder in accordance with the terms hereof.