295-530 Segment Conditions Sample Clauses

295-530 Segment Conditions. For ships with an authorized capacity of 295-530 passengers (the “295-530 Passenger Segment”) for Co-Branded Expedition Cruises that are marketed in the United States and Canada, neither Licensee and its Affiliates (with respect to the XXXXXXXX brand or XXXXXXXX EXPEDITIONS brand) nor NGP and its Affiliates (with respect to the NATIONAL GEOGRAPHIC or NATIONAL GEOGRAPHIC EXPEDITIONS brand) will market, sell, and/or operate or license Expedition Cruises in the 295-530 Passenger Segment, subject to the following: (i) Due Diligence on 295-530 Passenger Segment. [***], but at any time thereafter, the Parties agree, upon either Party’s request, to undertake joint due diligence for no more than [***], which will include an opportunity assessment, and development of a launch timeline, for marketing, selling, and operating Expedition Cruises in the 295-530 Passenger Segment (the “Segment Assessment”). NGP will leverage its expertise and lead the research effort and Licensee will provide input on that approach. (ii) [***] (iii) NGP Decides to Pursue the 295-530 Passenger Segment—Alternate Options. If the Parties cannot reach agreement on the terms of a contract for Licensee to operate Co-Branded Expedition Cruises in the 295-530 Passenger Segment or Licensee elects not to provide an offer: 1. NGP (and its Affiliates) will have the right to market, sell, and operate, and to license a third party other than Licensee and its Affiliates to utilize the NG Marks to market, sell, and operate, for the remainder of the Term (and afterward) Expedition Cruises in the 295-530 Passenger Segment. 2. NGP will notify Licensee if it enters into a license with a third-party operator or decides to purchase or build a ship in the 295-530 Passenger Segment (with such notification to Licensee to be within sixty (60) days following (x) an executed contract with a third-party operator, or (y) NGP’s final decision to have NGP or an Affiliate directly operate Expedition Cruises in the 295-530 Passenger Segment). For the avoidance of doubt, in such case, neither NGP nor the applicable third party may use the Co-Brand for the 295-530 Passenger Segment. Further, NGP will ensure any launch date for operations of such 295-530 Passenger Segment will be no earlier than [***] following notice to Licensee.
Sample 1
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