Representations and Warranties with Respect to Intellectual Property. Each Party represents and warrants to the other that it has the legal power to extend the rights granted to the other with respect to such Party’s Intellectual Property and that it has not made and will not make any commitments to others inconsistent with or in derogation of such rights. Each Party represents and warrants to the other that no fees, payments, royalties, or any additional consideration of any kind will be imposed upon the other by any third party with respect to any of such Party’s Intellectual Property.
Representations and Warranties with Respect to Intellectual Property. (i) Except pursuant to licenses and other user agreements entered into by any Pledgor in the ordinary course of business and licenses that are listed in Schedule IV, (i) each Pledgor owns and possesses the right to use, and has done nothing to authorize or enable any other Person to use, any material Copyright, Patent or Trademark listed in the Perfection Certificate, and (ii) all material Intellectual Property owned by such Pledgor is valid, subsisting and, to the best of such Pledgor’s knowledge, enforceable by and in the name of such Pledgor, and has not been abandoned, or allowed to lapse, expire or become dedicated to the public.
