Excerpt from Commercialization Agreement (AKA Master Agreement)
This was from the first agreement. I cannot find the most recent
one where the name changes to Phoenix Digital Solutions. In further
reading it looks to me that any business resolution would need
to be approved by the PTSC board.
3.5 With the exception of the agreements and transactions
entered into pursuant to the Project, P-Newco, Patriot and TPL
shall not transfer, assign, license, or otherwise convey any interest
in, or grant any security interest with respect to, any portion of
their interest in the MSD Patents during the term of this
Commercialization Agreement without the written consent of all
parties hereto, other than to entities which are owned and
controlled by the transferring Person and who assume and
agree to pay and perform all of the transferor's obligations
hereunder.