Common use of Prosecution of Patent Application Clause in Contracts

Prosecution of Patent Application. At its own expense, 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 Purchasers; provided, that no Debtor shall be obligated to prosecute any application in the event 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)

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Prosecution of Patent Application. At its own expense, each 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 PurchasersAgent (which consent shall not be unreasonably withheld); provided, that no Debtor shall be obligated to prosecute any application in the event such the 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 Agreement (Tweeter Home Entertainment Group Inc), Security Agreement (Tweeter Home Entertainment Group Inc), Credit Agreement (Tweeter Home Entertainment Group Inc)

Prosecution of Patent Application. At its own expense, 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 PurchasersPurchaser; provided, that no Debtor shall be obligated to prosecute any application in the event 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, 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 PurchasersAgent; provided, that no Debtor shall be obligated to prosecute any application in the event 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 1 contract

Samples: Security Agreement (Asc Holdings Inc)

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Prosecution of Patent Application. At its own expense, each 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 Default has occurred and is continuing and the Purchasers; provided, that no Debtor shall be obligated to prosecute any application in the event such Debtor determines, in its commercially 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)

Prosecution of Patent Application. At its own expense, each 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 PurchasersLender; provided, that no the Debtor shall not be obligated to prosecute any application in the event such the 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 1 contract

Samples: Note Purchase Agreement (Dynasil Corp of America)

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