§ 22-510. Financing arrangements; remedies or enforcement
West's Annotated Code of MarylandCommercial Law
MD Code, Commercial Law, § 22-510
§ 22-510. Financing arrangements; remedies or enforcement
(3) If the financier became a licensee and made a transfer or sublicense that was effective under § 22-508 of this subtitle, it may exercise the remedies of a licensor for breach, including the rights of an aggrieved party under § 22-815 of this title, subject to the limitations of § 22-816 of this title.
(4) If the financier did not become a licensee or did not make a transfer that was effective under § 22-508 of this subtitle, it may enforce a contractual right contained in the financial accommodation contract to preclude the licensee's further use of the information. However, the following rules apply:
(B) If the accommodated licensee agreed to transfer possession of copies to the financier in the event of material breach of the financial accommodation contract, the financier may enforce that contractual right only if permitted to do so under subsection (b)(1) of this section and § 22-503 of this subtitle.
(1) A financier described in subsection (a)(3) of this section which is entitled under the financial accommodation contract to take possession or prevent use of information, copies, or related materials may do so only if the licensor consents or if doing so would not result in a material adverse change of the duty of the licensor, materially increase the burden or risk imposed on the licensor, disclose or threaten to disclose trade secrets or confidential material of the licensor, or materially impair the licensor's likelihood or expectation of obtaining return performance.
Credits
Added by Acts 2000, c. 11, § 1, eff. Oct. 1, 2000. Amended by Acts 2000, c. 61, § 6, eff. April 25, 2000.
MD Code, Commercial Law, § 22-510, MD COML § 22-510
Current through legislation effective through April 9, 2023, from the 2024 Regular Session of the General Assembly. Some statute sections may be more current, see credits for details.
End of Document |