Product Rights definition
Examples of Product Rights in a sentence
Licensee shall have full control over its conduct, including the defense to validity challenges and settlement thereof; provided, however, that (i) Licensee shall use reasonable efforts to keep Licensor reasonably informed on matters regarding such enforcement, and (ii) Licensor may veto any actions of Licensee that could materially adversely affect the Product Rights or the ability of either Party to Commercialize Product.
After giving effect to the repayment in full of the Hercules Indebtedness, which shall occur on or prior to the date hereof, none of the Product Rights or Product is subject to, or encumbered by, any Lien (other than the Buyer’s Back-Up Security Interest and other than any Permitted Liens).
The Buyer has a Lien in the Product Rights and the Product that is superior to any Lien of any other Person other than any Lien expressly permitted by clause (c) of the definition of “Permitted Liens” and solely to the extent contemplated by and subject to the Intercreditor Agreement.