Common use of Discontinuance to Use Trademarks and Know-how Clause in Contracts

Discontinuance to Use Trademarks and Know-how. Upon the expiration of the Sell-off Period or early termination of this Agreement by Licensor, all rights in the Trademarks granted to Licensee hereunder shall automatically revert to Licensor, and Licensee shall immediately discontinue and thereafter refrain from all use of the Trademarks or the Know-how supplied hereunder. Licensee shall return all the Know-how then in the possession of Licensees to Licensor, remove the tags, labels, lapping materials, sales promotional materials and advertising materials bearing the Trademarks or the notice showing the Licensed Products are manufactured and sold under the licenses by Licensor from the remaining Stocks, and destroy all the Stocks as evidenced by written statement for such destruction within thirty (30) days after the expiration of the Sell-off Period or the early termination. In case Licensor or its designee desires to purchase any of such Stocks, Licensee shall sell such Stocks to Licensor or the designee at the price mentioned below: The Stocks of the Licensed Products for the current Season at the time of the expiration of Sell-off Period or termination 40% of suggested retail price of the Stocks The Stocks of the Licensed Products for the passed Season at the time of the expiration of the Sell-off Period or termination 25% of suggested retail price of the Stocks