Examples of Designated Intellectual Property in a sentence
The relevant IP Holder(s) own, or are licensed or otherwise possess rights in, the Designated Intellectual Property.
No material Designated Intellectual Property has been abandoned, and to Sellers’ knowledge, such material Designated Intellectual Property is (to the extent issued) valid and enforceable.
Except as otherwise noted in Section 2.12(a) of the Disclosure Schedule, the applicable Asset Seller or the applicable Acquired Company exclusively owns all of the material Designated Intellectual Property and other material Business IP, free and clear of all Security Interests other than Permitted Liens.
Unless otherwise listed as “abandoned” or “expired” in Section 2.12(a) of the Disclosure Schedule, the Designated Intellectual Property (except for Designated Intellectual Property that is licensed to (and not owned by) an IP Holder and does not constitute Owned-or-Exclusively Licensed Business IP) is subsisting and (except for pending applications) valid and enforceable.
The Seller is in compliance with the material terms of any license to or license of (i) Designated Intellectual Property and (ii) to Seller’s Knowledge, all of the other Intellectual Property and any intellectual property subject to a Third Party IP License.