Liability of Multiple Licensees. If Licensee consists of more than one Person or entity, each such Person and entity, and each proprietor, partner, member, and shareholder of each such entity, shall be jointly and severally liable for any and all of Licensee’s obligations and prohibitions under this Agreement. Consequently, if and when a Person or entity as Licensee is in breach of this Agreement and fails or is unable to cure such breach in a timely manner, Sonic may terminate the rights of the so-affected Person or entity under this Agreement whereby this Agreement is terminated as to only such Person or entity while remaining fully effective as to all other Persons and entities remaining as Licensee on this Agreement. This Person or entity removed as Licensee shall remain jointly and severally obligated with the Persons and entities remaining as Licensee for any and all obligations and liabilities of Licensee which occurred or accrued through the date of removal of said Person or entity.
Appears in 2 contracts
Samples: Guaranty and Restriction Agreement (Sonic Corp), License Agreement (Sonic Corp)
Liability of Multiple Licensees. If Licensee consists of more than one Person or entity, each such Person and entity, and each proprietor, partner, member, and partner or shareholder of each such entity, entity shall be jointly and severally liable for any and all of Licensee’s obligations and prohibitions under this Agreement. Consequently, if and when a Person or entity as Licensee is in breach of this Agreement and fails or is unable to cure such breach in a timely manner, Sonic SONIC may terminate the rights of the so-affected Person or entity under this Agreement whereby this Agreement is terminated as to only such Person or entity while remaining fully effective as to all other Persons and entities remaining as Licensee on this Agreement. This Person or entity removed as Licensee shall remain jointly and severally obligated with the Persons and entities remaining as Licensee for any and all obligations and liabilities of Licensee which occurred or accrued through the date of removal of said Person or entity.
Appears in 2 contracts
Samples: License Agreement (Sonic Corp), License Agreement (Sonic Corp)
Liability of Multiple Licensees. If the Licensee consists of more than one Person or entity, each such Person and entity, and each proprietor, partner, member, and partner or shareholder of each such entity, entity shall be jointly and severally liable for any and all of the Licensee’s obligations and prohibitions under this Agreement. Consequently, if and when a Person or entity as the Licensee is in breach of this Agreement and fails or is unable to cure such breach in a timely manner, Sonic the Licensor may terminate the rights of the so-affected Person or entity under this Agreement whereby this Agreement is terminated as to only such Person or entity while remaining fully effective as to all other Persons and entities remaining as a Licensee on this Agreement. This The Person or entity removed as a Licensee shall remain jointly and severally obligated with the Persons and entities remaining as a Licensee for any and all obligations and liabilities of the Licensee which occurred or accrued through the date of the removal of said Person or entity.
Appears in 1 contract
Liability of Multiple Licensees. If Licensee consists of more than one Person or entity, each such Person and entity, and each proprietor, partner, member, and shareholder of each such entity, shall be jointly and severally liable for any and all of Licensee’s obligations and prohibitions under this Agreement. Consequently, if and when a Person or entity as Licensee is in breach of this Agreement and fails or is unable to cure such breach in a timely manner, Sonic may terminate the rights of the so-affected Person or entity under this Agreement whereby this Agreement is terminated as to only such Person or entity while remaining fully effective as to all other Persons and entities remaining as Licensee on this Agreement. This Person or entity removed as Licensee shall remain jointly and severally obligated with the Persons and entities remaining as Licensee for any and all obligations and liabilities of Licensee which occurred or accrued through the date of removal of said Person or entity..
Appears in 1 contract
Samples: License Agreement (Sonic Corp)
Liability of Multiple Licensees. If Licensee consists of more than one Person or entity, each such Person and entity, and each proprietor, partner, member, and partner or shareholder of each such entity, entity shall be jointly and severally liable for any and all of Licensee’s 's obligations and prohibitions under this Agreement. Consequently, if and when a Person or entity as Licensee is in breach of this Agreement and fails or is unable to cure such breach in a timely manner, Sonic SONIC may terminate the rights of the so-affected Person or entity under this Agreement whereby this Agreement is terminated as to only such Person or entity while remaining fully effective as to all other Persons and entities remaining as Licensee on this Agreement. This Person or entity removed as Licensee shall remain jointly and severally obligated with the Persons and entities remaining as Licensee for any and all obligations and liabilities of Licensee which occurred or accrued through the date of removal of said Person or entity.
Appears in 1 contract
Liability of Multiple Licensees. If Licensee consists of more than one Person or entity, each such Person and entity, and each proprietor, partner, member, and partner or shareholder of each such entity, entity shall be jointly and severally liable for any and all of Licensee’s 's obligations and prohibitions under this Agreementagreement. Consequently, if and when a Person or entity as Licensee is in breach of this Agreement agreement and fails or is unable to cure such breach in a timely manner, Sonic Licensor may terminate the rights of the so-affected Person or entity under this Agreement agreement whereby this Agreement agreement is terminated as to only such Person or entity while remaining fully effective as to all other Persons and entities remaining as Licensee on this Agreementagreement. This Person or entity removed as Licensee shall remain jointly and severally obligated with the Persons and entities remaining as Licensee for any and all obligations and liabilities of Licensee which occurred or accrued through the date of removal of said Person or entity.
Appears in 1 contract
Samples: License Agreement (Sonic Corp)