DISPOSAL OF STOCK. Vendor shall have the right to dispose of Licensed Articles which remain on hand for a period of THIRTY (30) days following the expiration, but not termination, of this Agreement. All such sales shall be the normal course of business and at marketable selling prices. Vendor shall submit all statements and/or royalty payments due under this Agreement with regard to sales pursuant to this Section 12.
DISPOSAL OF STOCK. After termination of this Agreement, LICENSEE shall have no further right to manufacture, authorize any third party to manufacture, advertise, distribute, sell, promote or otherwise deal in any Licensed Products or use the Licensed Marks except as provided below. For a period of one hundred and eighty (180) days following the effective date of termination of this Agreement, LICENSEE may sell-off and deliver completed Licensed Products which are on hand at the effective date of termination (the SELL-OFF PERIOD); LICENSOR shall have the option to conduct physical inventories before the termination of this Agreement until the end of the Sell-Off Period in order to verify disposal of stock. If LICENSEE refuses to permit such physical inventory, LICENSEE shall forfeit its right to dispose of its inventory. Upon termination of the Agreement or after the Sell-Off Period, as the case may be, all inventory on hand or in process (including all promotional and packaging materials) will either be returned to LICENSOR or destroyed and LICENSEE shall deliver to LICENSOR a certified statement signed by LICENSEE's President or Chief Financial Officer that such materials have been returned to LICENSOR or destroyed.
DISPOSAL OF STOCK. No Borrower shall, nor shall any Borrower permit any of its Subsidiaries to, directly or indirectly sell, assign, pledge or otherwise encumber or dispose of any shares of Capital Stock or other equity Securities of any Borrower or any of its Subsidiaries.
DISPOSAL OF STOCK. After expiration or termination of this Agreement, Licensee shall have no further right to manufacture, advertise, distribute, sell or otherwise deal in any Licensed Products which use the Licensed Marks, except as hereinafter provided. Upon expiration of this Agreement (but not upon termination under Paragraph 9 or 13 hereof), Licensee may dispose of Licensed Products which are on hand or in process at the time of such expiration, but only in the normal course of business and at regular selling prices, for a period of ninety (90) days thereafter, provided all payments then due are first made to NBAP and statements and payments with respect to said ninety (90) day period are thereafter made in accordance with Paragraph 3 hereof. NBAP shall have the option to conduct physical inventories before expiration or termination and continuing until the end of the 90-day sell-off period in order to ascertain or verify such inventory and/or statement. In the event Licensee refuses to permit such physical inventory, Licensee shall forfeit its right hereunder to dispose of its inventory.
DISPOSAL OF STOCK. Except as otherwise provided in this Section 15, after the termination or expiration of this Agreement, Licensee shall have no further right to manufacture, distribute, sell, exploit or otherwise deal in any articles which utilize the Logos. Within thirty (30) days after the expiration or termination of this Agreement, Licensee shall deliver to the LPGA a statement indicating the number and description of the Licensed Products on hand or in process as of the date of such statement. During the period of three hundred sixty (360) days immediately following the expiration or termination of this Agreement, Licensee may dispose of products or materials which are on hand or in process at the time of such expiration or termination, but only in the normal course of business and at regular or reasonably discounted selling prices. All such sales shall be subject to the terms and conditions of this Agreement. Licensee may remove the Logos from any such products or materials and shall be free to sell or dispose of such products or materials in any manner it sees fit as long as identification of the LPGA is not possible.
DISPOSAL OF STOCK. Sixty (60) days before the expiration of this Agreement and ten (10) days after any termination under Paragraphs 9 or 13, LICENSEE will furnish to NBAP a certificate showing the number and description of Licensed Products on hand or in process of manufacture. After expiration or termination of this Agreement, LICENSEE shall have no right to, nor allow any third party to, manufacture, advertise, distribute, sell, promote or otherwise deal in any Licensed Products or use the Licensed Marks (and LICENSEE shall not engage in any such activity) except as provided below. For a period of ninety (90) days following the expiration (but not after the termination) of this Agreement, LICENSEE may sell-off and deliver Licensed Products which are on hand or in process at the time of such expiration (the "Sell-Off Period"); provided, however that (i) the total number of units of each Licensed Product sold during the Sell-Off Period may not be greater than one hundred ten percent (110 %) of the total number of units of such Licensed Product on hand the same date the preceding Contract Year, (ii) such Licensed Products may only be sold in accordance with this Agreement and in the course of business and at regular selling prices, (iii) all payments then due are first made to NBAP and (iv) statements and payments with respect to the Sell-Off Period are made in accordance with this Agreement. NBAP shall have the option to conduct physical inventories before the expiration of this Agreement until the end of the Sell-Off Period in order to verify such inventory and/or statements. If LICENSEE refuses to permit such physical inventory, LICENSEE shall forfeit its right to dispose of Licensed Products under this Paragraph. After such Sell-Off Period, all inventory on hand or in process (including all promotional and packaging materials) will be destroyed. LICENSEE shall have no sell-off rights in event this Agreement is terminated the process (including all promotional and packing materials) will be destroyed. Any destruction of Licensed Product required pursuant to this Agreement shall be attested to in a certificate signed by one of LICENSEE's officers. 15. EQUITABLE RELIEF LICENSEE acknowledges that NBAP is entering into this Agreement not only in consideration of the royalties or other financial consideration to be paid, but also for the promotional value and intrinsic benefit resulting from the manufacture, advertisement, distribution, sale and promotion of the Licensed Produc...
DISPOSAL OF STOCK. (a) With respect to trading card product, within seven (7) months following the initial release of each series of Licensed Product, except as otherwise approved by NBAP in writing, LICENSEE shall destroy printing plates and any such Licensed Product on hand. In the alternative, LICENSEE may sell or resell such Licensed Product with NBAP's permission, not to be unreasonably withheld. LICENSEE shall be entitled to retain for its purposes up to one hundred (100) cases of each Licensed Product each Contract Year. Any Licensed Product returned after seven (7) months of its initial ship date shall be destroyed within ninety (90) days of receipt by LICENSEE. In the alternative, LICENSEE may sell or resell such Licensed Product with NBAP's permission, not to be unreasonably withheld. Upon request, LICENSEE shall provide NBAP with evidence of the destruction of such product or components. Upon expiration (but not termination except with the prior approval of NBAP which shall not be unreasonably withheld if such termination is unrelated to LICENSEE's breach of Paragraphs 3,7,9 or 11 (c) above), any Licensed Product on hand at the end of the sell-off period or subsequently returned to LICENSEE (or unfinished components of Licensed Products) shall be destroyed by LICENSEE at its cost, no later than thirty (30) days thereafter.
DISPOSAL OF STOCK. 94 SECTION 6.12. CERTAIN RESTRICTIONS ON CHANGES TO CHARTER DOCUMENTS...................................................... 94 SECTION 6.13. CERTAIN RESTRICTIONS IN RESPECT OF MATERIAL CONTRACTS..................................................... 95 SECTION 6.14. LIMITATIONS ON RESTRICTED ACTIONS......................................................................... 95
DISPOSAL OF STOCK. 13.3.1 INTER PARFUMS shall be entitled to commercialise such Products as were already manufactured or in the process of manufacture at the Expiration Date of the Agreement for 6 (six) months after the term hereof. INTER PARFUMS shall send to LACROIX within 15 (fifteen) days as from the Expiration Date of the Agreement a statement of stocks of the Product remaining to be disposed of, it being specified that the said stocks shall not be of a greater volume than the sales of the Products over a 6 (six) month period. The said volume shall be calculated on the basis of mean output recorded during the 6 (six) months preceding the expiration of the Agreement. The remainder of the Products shall be disposed of within 6 (six) months after the expiration of the Agreement, in accordance with the contractual terms of sale and via the sales networks previously used or similar networks. INTER PARFUMS shall draw up a statement of sales thus made at the earliest 6 (six) months after the Agreement has expired and shall pay the corresponding royalties to LACROIX, excluding any sales made to LACROIX at cost price. INTER PARFUMS undertakes to return at cost price the advertising material in stock at the date the Agreement expires.
DISPOSAL OF STOCK. (a) After the expiration or termination of this AGREEMENT, LICENSEE shall have no further right to manufacture, advertise, distribute, sell, or otherwise deal in any LICENSED ARTICLES except as hereinafter provided. Upon such expiration or termination, LICENSEE may dispose of finished LICENSED ARTICLES on hand or in process at the time of such expiration or termination, for a period of ninety (90) days thereafter, provided all further payments due with respect to that ninety (90) day period are made in accordance with paragraph 3 hereof.
