Common use of Secured Party's Rights Clause in Contracts

Secured Party's Rights. Secured Party shall have the right, but not the obligation, to take, at Grantor's sole expense, any actions that Grantor is required under this Agreement to take but which Grantor fails to take, after fifteen (15) days' notice to Grantor. Grantor shall reimburse and indemnify Secured Party for all reasonable costs and reasonable expenses incurred in the reasonable exercise of its rights under this section 4.

Appears in 3 contracts

Samples: Intellectual Property Security Agreement (Jni Corp), Intellectual Property Security Agreement (General Automation Inc), Intellectual Property Security Agreement (Websidestory Inc)

AutoNDA by SimpleDocs

Secured Party's Rights. Secured Party shall have the right, but not the obligation, to take, at Grantor's sole expense, any actions that Grantor is required under this Agreement to take but which Grantor fails to take, after fifteen (15) days' notice to Grantor. Grantor shall reimburse and indemnify Secured Party for all reasonable costs and reasonable expenses incurred in the reasonable exercise of its rights under this section 43.

Appears in 2 contracts

Samples: Loan Agreement (Crocs, Inc.), Loan and Security Agreement (Quovadx Inc)

Secured Party's Rights. Secured Party shall have the right, but not the obligation, to take, at Grantor's sole expense, any actions that Grantor is required under this Agreement to take but which Grantor fails to take, after fifteen (15) days' notice to Grantor. Grantor shall reimburse and indemnify Secured Party for all reasonable costs and reasonable expenses incurred in the reasonable exercise of its rights under this section 4.

Appears in 2 contracts

Samples: Business Loan Agreement (Interpore International Inc /De/), Intellectual Property Security Agreement (Avanex Corp)

Secured Party's Rights. Secured Party shall have the right, but not the obligation, to take, at Grantor's ’s sole expense, any actions that Grantor is required under this Agreement to take but which Grantor fails to take, after fifteen (15) days' notice to Grantor. Grantor shall reimburse and indemnify Secured Party for all reasonable costs and reasonable expenses incurred in the reasonable exercise of its rights under this section Section 4.

Appears in 2 contracts

Samples: Intellectual Property Security Agreement (Matrixx Initiatives Inc), Intellectual Property Security Agreement (Matrixx Initiatives Inc)

Secured Party's Rights. Secured Party shall have the right, but not the obligation, to take, at Grantor's ’s sole expense, any actions that Grantor is required under this Agreement to take but which Grantor fails to take, after fifteen (15) days' notice to Grantor. Grantor shall reimburse and indemnify Secured Party for all reasonable costs and reasonable expenses incurred in the reasonable exercise of its rights under this section Section 4, provided that Grantor’s liability for expenses incurred in connection with any audits (including any under Section 6.9 of the Loan Agreement) shall be limited to the extent provided for in Section 6.2 of the Loan Agreement.

Appears in 1 contract

Samples: Intellectual Property Security Agreement (Verenium Corp)

Secured Party's Rights. Secured Party shall have the right, but not the obligation, to take, at Grantor's Grantors’ sole expense, any actions that any Grantor is required under this Agreement to take but which such Grantor fails to take, after fifteen (15) days' notice to GrantorGrantors. Grantor Grantors shall reimburse and indemnify Secured Party for all reasonable costs and reasonable expenses incurred in the reasonable exercise of its rights under this section Section 4.

Appears in 1 contract

Samples: Revolving Credit Agreement (Digirad Corp)

Secured Party's Rights. Secured Party shall have the right, but not the obligation, to take, at Grantor's sole expense, any actions that Grantor is required under this Agreement to take but which Grantor fails to take, after fifteen (15) days' notice to Grantor. Grantor shall reimburse and indemnify Secured Party for all reasonable costs and reasonable expenses incurred in the reasonable exercise of its rights under this section Section 4.

Appears in 1 contract

Samples: Credit Agreement (Superconductor Technologies Inc)

Secured Party's Rights. Secured Party shall have the right, but not the obligation, to take, at Grantor's sole expense, any actions that Grantor is required under this Agreement to take but which Grantor fails to take, after fifteen (15) days' written notice to Grantor. Grantor shall reimburse and indemnify Secured Party for all reasonable costs and reasonable expenses incurred in the reasonable exercise of its rights under this section 43.

Appears in 1 contract

Samples: Intellectual Property Security Agreement (Southwall Technologies Inc /De/)

Secured Party's Rights. Secured Party shall have the right, but not ---------------------- the obligation, to take, at Grantor's Grantors sole expense, any actions that Grantor is required under this Agreement to take but which Grantor fails to take, after fifteen (15) days' notice to Grantor. Grantor shall reimburse and indemnify Secured Party for all reasonable costs and reasonable expenses incurred in the reasonable exercise of its rights under this section 4.

Appears in 1 contract

Samples: Intellectual Property Security Agreement (Ebay Inc)

AutoNDA by SimpleDocs

Secured Party's Rights. Secured Party shall have the right, but not the obligation, to take, at Grantor's ’s sole expense, any actions that Grantor is required under this Agreement to take but which Grantor fails to take, after fifteen (15) days' notice to Grantor. Grantor shall reimburse and indemnify Secured Party for all reasonable costs and reasonable expenses incurred in the reasonable exercise of its rights under this section 4.

Appears in 1 contract

Samples: Business Loan Agreement (Monterey Gourmet Foods)

Secured Party's Rights. Secured Party shall have the right, but not the obligation, to take, at Grantor's ’s sole expense, any actions that Grantor is required under this Agreement to take but which Grantor fails to take, after fifteen (15) days' notice to Grantor. Grantor shall reimburse and indemnify Secured Party for all reasonable costs and reasonable expenses incurred in the reasonable exercise of its rights under this section 43.

Appears in 1 contract

Samples: Loan and Security Agreement (Therma Wave Inc)

Secured Party's Rights. Secured Party shall have the right, but not ---------------------- the obligation, to take, at Grantor's sole expense, any actions that Grantor is required under this Agreement to take but which Grantor fails to take, after fifteen (15) days' notice to Grantor. Grantor shall reimburse and indemnify Secured Party for all reasonable costs and reasonable expenses incurred in the reasonable exercise of its rights under this section 43.

Appears in 1 contract

Samples: Intellectual Property Security Agreement (Logicvision Inc)

Secured Party's Rights. Secured Party shall have the right, but not ---------------------- the obligation, to take, at Grantor's sole expense, any actions that Grantor is required under this Agreement to take but which Grantor fails to take, after fifteen (15) days' notice to Grantor. Grantor shall reimburse and indemnify Secured Party for all reasonable costs and reasonable expenses incurred in the reasonable exercise of its rights under this section 4.

Appears in 1 contract

Samples: Loan and Security Agreement (Lifeminders Com Inc)

Secured Party's Rights. Secured Party shall have the right, but not the obligation, to take, at Grantor's sole expense, any actions that Grantor is required under this IP Agreement to take but which Grantor fails to take, after fifteen forty-five (1545) days' notice to Grantor. Grantor shall reimburse and indemnify Secured Party for all reasonable costs and reasonable expenses incurred in the reasonable exercise of its rights under this section 4.

Appears in 1 contract

Samples: Intellectual Property Security Agreement (Ibasis Inc)

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!