Common use of Store Development Clause in Contracts

Store Development. (a) Licensee shall use commercially reasonable best efforts to develop, exploit and maintain in the Territory the market for the Licensed Products in keeping with the prestige of the Trademarks and the high quality products associated therewith. Notwithstanding the generality of the foregoing, provided this Agreement has not expired or been terminated, Licensee shall at all times: (1) during the ten (10) year period commencing on April 1, 2021 own and operate not less than 15 stores, shop-in-shops and other high-end points of distribution in the Territory; and (2) during the ten (10) year period commencing on April 1, 2031 own and operate not less than 30 stores, shop-in-shops and other high-end points of distribution in the Territory. Licensor and Licensee shall enter into such additional agreements as are necessary for Licensee to own and operate stores, shop-in-shops and other high-end points of distribution in the Territory.

Store Development. (a) Licensee shall use commercially reasonable best efforts to develop, exploit and maintain in the Territory the market for the Licensed Products in keeping with the prestige of the Trademarks and the high quality products associated therewith. Notwithstanding the generality of the foregoing, provided this Agreement has not expired or been terminated, Licensee shall at all times: (1) during the ten (10) year period commencing on April 1, 2021 own and operate not less than 15 5 stores, shop-in-shops and other high-end points of distribution in the Territory; and (2) during the ten (10) year period commencing on April 1, 2031 own and operate not less than 30 8 stores, shop-in-shops and other high-end points of distribution in the Territory. Licensor and Licensee shall enter into such additional agreements as are necessary for Licensee to own and operate stores, shop-in-shops and other high-end points of distribution in the Territory.