Common use of Use as security Clause in Contracts

Use as security. 6.4.1. Except with the prior written approval of the Commonwealth, the Recipient agrees not to use any of the following as any form of security for the purpose of obtaining or complying with any form of loan, credit, payment or other interest, or for the preparation of, or in the course of, any litigation: a. the Funding; b. this Agreement or any of the Commonwealth’s obligations under the Agreement; or c. any Assets or Intellectual Property Rights in the Activity Material.

Appears in 6 contracts

Samples: Funding Agreement, Funding Agreement, Funding Agreement

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Use as security. 6.4.1. Except with the prior written approval of the Commonwealth, the Recipient agrees not to use any of the following as any form of security for the purpose of obtaining or complying with any form of loan, credit, payment or other interest, or for the preparation of, or in the course of, any litigation: a. the Funding; b. this Agreement or any of the Commonwealth’s obligations under the Agreement; or c. any Assets or Intellectual Property Rights in the Activity Material.

Appears in 1 contract

Samples: Funding Agreement

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