Secured Party’s Rights. Secured Party shall have the right, but not the obligation, to take, at Borrower's sole expense, any actions that Borrower is required under this Agreement to take but which Borrower fails to take, after fifteen (15) days' notice to Borrower. Borrower 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 (Verso Technologies Inc), Intellectual Property Security Agreement (Verso Technologies Inc), Intellectual Property Security Agreement (Verso Technologies Inc)
Secured Party’s Rights. Secured Party shall have the right, but not ---------------------- the obligation, to take, at BorrowerDebtor's sole expense, any actions that Borrower Debtor is required under this Agreement to take but which Borrower Debtor fails to take, after fifteen (15) days' notice to BorrowerDebtor. Borrower Debtor 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: Intellectual Property Mortgage and Security Agreement (Applied Imaging Corp), Intellectual Property Mortgage and Security Agreement (Applied Imaging Corp)
Secured Party’s Rights. Secured Party Guidant shall have the right, but not the obligation, to take, at the Borrower's ’s sole expense, any actions that the Borrower is required under this Agreement to take but which the Borrower fails to take, after fifteen (15) days' days written notice to the Borrower. The Borrower shall reimburse and indemnify Secured Party Guidant 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 (Cardica Inc)
Secured Party’s Rights. Secured Party shall have the right, but not ----------------------- the obligation, to take, at Borrower's sole expense, any actions that Borrower is required under this Agreement to take but which Borrower fails to take, after fifteen (15) days' notice to Borrower. Borrower 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 (Genus Inc)
Secured Party’s Rights. Secured Party shall have the right, but not the obligation, to take, at BorrowerDebtor's sole expense, any actions that Borrower Debtor is required under this Security Agreement to take but which Borrower Debtor fails to take, after fifteen (15) days' notice to BorrowerDebtor. Borrower Debtor 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: Security Agreement (Netiq Corp)
