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Luxottica Group, S.p.A. (LUX)
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LUX » Topics » Intellectual Property

This excerpt taken from the LUX 20-F filed Jun 28, 2006.
Intellectual Property

(a)                                  The Borrowers shall, and the Italian Borrower shall procure that each Group member shall, do all acts as are reasonably practicable to maintain, protect and safeguard the Intellectual Property which is necessary for the business of the relevant member of the Group and not terminate or discontinue the use of any such Intellectual Property save in each case when failure to do so is reasonably likely to have a Material Adverse Effect.

(b)                                 The Borrowers shall not, and the Italian Borrower shall ensure that no member of Group shall:

(i)                                     use or allow to be used, or take any step or omit to take any step in respect of any Intellectual Property, in any way which is reasonably likely to have a Material Adverse Effect; and

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(ii)                                  without the prior written consent of the Agent, dispose of or transfer or terminate or enter into any contract or licence in respect of any Intellectual Property, where this is reasonably likely to have a Material Adverse Effect.

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