IP License

IP License. Means the sale of a perpetual license to the IP ---------- Licensee to use the trademarks, service marks, formulas and other intellectual property relating to certain foodservice businesses for use in the foodservice channel (the "Licensed Intellectual Property") ------------------------------ for an initial payment of approximately $17,000,000 or more. The obligations of the Company to... the IP Licensee in respect of the IP License shall be secured by a security interest in the assets of the Company comprising the Licensed Intellectual Property. The IP License shall be deemed to be an "Asset Sale" for purposes of this agreement. View More