Common use of Prosecution of Patent Application Clause in Contracts

Prosecution of Patent Application. At its own expense, such Debtor shall diligently prosecute all applications for Patents for such Debtor and shall not abandon any such application prior to exhaustion of all administrative and judicial remedies, absent written consent of the Agent (which consent shall not be unreasonably withheld); provided, that no Debtor shall be obligated to prosecute any application in the event the Debtor determines, in its reasonable business judgment, that the prosecuting of such application is no longer necessary or desirable in the conduct of its business.

Appears in 3 contracts

Samples: Security Agreement (Tweeter Home Entertainment Group Inc), Security Agreement (Tweeter Home Entertainment Group Inc), Credit Agreement (Tweeter Home Entertainment Group Inc)

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Prosecution of Patent Application. At its own expense, such each Debtor shall diligently prosecute all applications for Patents for such Debtor and shall not abandon any such application prior to exhaustion of all administrative and judicial remedies, absent written consent of the Agent (which consent shall not be unreasonably withheld)Purchasers; provided, that no Debtor shall be obligated to prosecute any application in the event the such Debtor determines, in its commercially reasonable business judgment, that the prosecuting of such application is no longer necessary or desirable in the conduct of its business.

Appears in 3 contracts

Samples: Security and Pledge Agreement (Dyntek Inc), Security and Pledge Agreement (Dyntek Inc), Security, Pledge and Guaranty Agreement (Synergy Brands Inc)

Prosecution of Patent Application. At its own expense, such each Debtor shall diligently prosecute all applications for Patents for such Debtor and shall not abandon any such application prior to exhaustion of all administrative and judicial remedies, absent written consent of the Agent (which consent shall not be unreasonably withheld)Purchaser; provided, that no Debtor shall be obligated to prosecute any application in the event the such Debtor determines, in its commercially reasonable business judgment, that the prosecuting of such application is no longer necessary or desirable in the conduct of its business.

Appears in 2 contracts

Samples: Security and Pledge Agreement (Dyntek Inc), Security and Pledge Agreement (Dyntek Inc)

Prosecution of Patent Application. At its own expense, such the Debtor shall diligently prosecute all applications for Patents for such the Debtor and shall not abandon any such application prior to exhaustion of all administrative and judicial remedies, absent written consent of the Agent (which consent shall not be unreasonably withheld)Lender; provided, that no the Debtor shall not be obligated to prosecute any application in the event the Debtor determines, in its reasonable business judgment, that the prosecuting of such application is no longer necessary or desirable in the conduct of its business.

Appears in 1 contract

Samples: Note Purchase Agreement (Dynasil Corp of America)

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Prosecution of Patent Application. At its own expense, such each Debtor shall diligently prosecute all applications for Patents for such Debtor and shall not abandon any such application prior to exhaustion of all administrative and judicial remedies, absent written consent of the Agent (which consent shall not be unreasonably withheld)Agent; provided, that no Debtor shall be obligated to prosecute any application in the event the such Debtor determines, in its reasonable business judgment, that the prosecuting of such application is no longer necessary or desirable in the conduct of its business.

Appears in 1 contract

Samples: Security Agreement (Asc Holdings Inc)

Prosecution of Patent Application. At its own expense, such Debtor --------------------------------- shall diligently prosecute all applications for material Patents for such Debtor and shall not abandon any such application prior to exhaustion in good faith of all reasonable administrative and judicial remedies, absent written consent unless no Default or Event of the Agent (which consent shall not be unreasonably withheld); provided, that no Debtor shall be obligated to prosecute any application in the event Default has occurred and is continuing and the Debtor determines, in its reasonable business judgmentgood faith, that the prosecuting of abandoning or settling such application claim is no longer necessary or desirable in the conduct best interest of its businessthe Debtor.

Appears in 1 contract

Samples: Credit Agreement (Synbiotics Corp)

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