Status of Proprietary Assets. Except as would not reasonably be expected to have, individually or in the aggregate, a Material Adverse Effect: (a) Each Group Company (i) has independently developed and owns free and clear of all Liens, or (ii) has a valid right or license to use, all Proprietary Assets (as defined below), including without limitation all Registered Intellectual Property (as defined below), necessary and appropriate for its business as presently conducted and as proposed to be conducted, and the Company owns, directly or indirectly, all right, title and interest in, or has sufficient right to use pursuant to written license contract, all Proprietary Assets used in, held for use in, or necessary for the operation of its business as presently conducted and, to the Knowledge of the Group Companies, without any conflict with or infringement of the rights of others. (b) For the purpose of this Section 3.8:
Appears in 4 contracts
Samples: Series D Preferred Shares Purchase Agreement, Series D Preferred Shares Purchase Agreement (Pinduoduo Inc.), Series D Preferred Shares Purchase Agreement (Walnut Street Group Holding LTD)
