IP Holder definition
Examples of IP Holder in a sentence
With respect to the IP Services, the Manager shall perform such IP Services in accordance with the Managing Standard and the IP License Agreements, unless IP Holder determines, in its sole discretion, that additional action is necessary or desirable in furtherance of the protection of the Securitization IP, in which case the Manager shall perform such IP Services and additional related services as are reasonably requested by IP Holder.
The Manager shall not enter into any Sub-management Arrangement which delegates the performance of any fundamental business operations such as responsibility for the franchise development, operations and marketing strategies for Franchise Holder, Taco Bell Franchisor, IP Holder and Branded Restaurants as a whole to any Person that is not an Affiliate without receiving the prior written consent of the Control Party.
All applications to register Manager-Developed IP shall be filed in the name of IP Holder.
In addition to the foregoing, within fifteen (15) Business Days after the Original Closing Date, the Issuer will cause IP Holder to take all other actions necessary (including the filing of UCC-1 financing statements with respect to Trademarks and Patents) to protect and evidence the Trustee’s security interest in the Securitization IP in the United States pursuant to Section 7.13(b), subject to Sections 7.13(a), 8.25(c) and 8.25(d), and except as described on Schedule 8.11.
The Manager hereby appoints IP Holder as its attorney-in-fact authorized to execute such documents in the event that Manager fails to execute the same within twenty (20) days following IP Holder’s written request to do so (it being understood that such appointment is a power coupled with an interest and therefore irrevocable) with full power of substitution and delegation.