Common use of Trustee in Bankruptcy Clause in Contracts

Trustee in Bankruptcy. Notwithstanding the provisions of Paragraph 14.2 above, in the event that, pursuant to applicable bankruptcy law (the "Code"), a trustee in bankruptcy, receiver or other comparable person, of Licensee, or Licensee, as debtor, is permitted to assume this Agreement and does so and, thereafter, desires to assign this Agreement to a third party, which assignment satisfies the requirements of the Code, the trustee or Licensee, as the case may be, must notify Hilfiger. Said notice shall set forth the name and address of the proposed assignee, the proposed consideration for the assignment and all other relevant details thereof. The giving of such notice will be deemed to constitute an offer to Hilfiger to have this license assigned to it or its designee for such consideration, or its equivalent in money, and upon such terms as are specified in the notice. Hilfiger may accept the aforesaid offer only by written notice given to the trustee or Licensee, as the case may be, within fifteen (15) days after Hilfiger's receipt of the notice to such party. If Hilfiger fails to deliver such notice within the said fifteen (15) days, such party may complete the assignment referred to in its notice, but only if such assignment is to the entity named in said notice and for the consideration and upon the terms specified therein. Nothing contained herein will be deemed to preclude or impair any rights that Hilfiger may have as a creditor in any bankruptcy proceeding.

Trustee in Bankruptcy. Notwithstanding the provisions of Paragraph 14.2 10.2 above, in the event that, pursuant to the applicable bankruptcy law (the "Code"), a trustee in bankruptcy, receiver or other comparable person, of Licensee, or Licensee, as debtor, is permitted to assume this Agreement and does so and, thereafter, desires to assign this Agreement to a third party, which assignment satisfies the requirements of the Code, the trustee or Licensee, as the case may be, must shall notify HilfigerLicensor of same in writing. Said notice shall set forth the name and address of the proposed assignee, the proposed consideration for the assignment and all other relevant details thereof. The giving of such notice will shall be deemed to constitute an offer to Hilfiger Licensor to have this license Agreement assigned to it or its designee for such consideration, or its equivalent in money, and upon such terms as are specified in the notice. Hilfiger may accept the The aforesaid offer may be accepted by Licensor only by written notice given to the trustee or Licensee, as the case may be, within fifteen (15) days after HilfigerLicensor's receipt of the notice to such party. If Hilfiger Licensor fails to deliver such notice within the said fifteen (15) days, such party may complete the assignment referred to in its notice, but only if such assignment is to the entity named in said notice and for the consideration and upon the terms specified therein. Nothing contained herein will shall be deemed to preclude or impair any rights that Hilfiger which Licensor may have as a creditor in any bankruptcy proceeding.

Trustee in Bankruptcy. Notwithstanding the provisions of Paragraph 14.2 above§ 8.8, in the event that, pursuant to the applicable bankruptcy law (the "‘‘Code"’’), a trustee in bankruptcy, receiver or other comparable person, of the Licensee, or the Licensee, as debtor, is permitted to assume this Agreement and does so and, thereafter, desires to assign this Agreement to a third party, which assignment satisfies the requirements of the Code, the trustee or the Licensee, as the case may be, must shall notify HilfigerCKI of same in writing. Said notice shall set forth the name and address of the proposed assignee, the proposed consideration for the assignment and all other relevant details thereof. The giving of such notice will shall be deemed to constitute an offer to Hilfiger CKI to have this license Agreement assigned to it or its designee for such consideration, or its equivalent in money, and upon such terms as are specified in the notice. Hilfiger may accept the The aforesaid offer may be accepted by CKI only by written notice given to the trustee or the Licensee, as the case may be, within fifteen (15) 15 days after Hilfiger's CKI’s receipt of the notice to such party. If Hilfiger CKI fails to deliver such notice within the said fifteen (15) 15 days, such party may complete the assignment referred to in its notice, but only if such assignment is to the entity named in said notice and for the consideration and upon the terms specified therein. Nothing contained herein will shall be deemed to preclude or impair any rights that Hilfiger which CKI may have as a creditor in any bankruptcy proceeding.

Trustee in Bankruptcy. Notwithstanding the provisions of Paragraph 14.2 above, in the event that, pursuant to applicable bankruptcy law (the "Code"), a trustee in bankruptcy, receiver or other comparable person, of Licensee, or Licensee, as debtor, is permitted to assume this Agreement and does so and, thereafter, desires to assign this Agreement to a third party, which assignment satisfies the requirements of the Codeapplicable law, the trustee or Licensee, as the case may be, must shall notify HilfigerLicensor. Said notice shall set forth the name and address of the proposed assignee, the proposed consideration for the assignment and all other relevant details thereof. The giving of such notice will shall be deemed to constitute an offer to Hilfiger Licensor to have this license assigned to it or its designee for such consideration, or its equivalent in money, and upon such terms as are specified in the notice. Hilfiger Licensor may accept the aforesaid offer only by written notice given to the trustee or Licensee, as the case may be, within fifteen (15) days after Hilfiger's Licensor’s receipt of the notice to such partynotice. If Hilfiger Licensor fails to deliver such notice within the said fifteen (15) days, such party may complete the assignment referred to in its notice, but only if such assignment is to the entity named in said notice and for the consideration and upon the terms specified therein. Nothing contained herein will shall be deemed to preclude or impair any rights that Hilfiger Licensor may have as a creditor in any bankruptcy proceeding.. 15. EXPIRATION AND TERMINATION 15.1

Trustee in Bankruptcy. Notwithstanding the provisions of Paragraph 14.2 above, in the event that, pursuant to applicable bankruptcy law (the "Code"), a trustee in bankruptcy, receiver or other comparable person, of Licensee, or Licensee, as debtor, is permitted to assume this Agreement and does so and, thereafter, desires to assign this Agreement to a third party, which assignment satisfies the requirements of the Code, the trustee or Licensee, as the case may be, must notify HilfigerSweetface. Said notice shall set forth the name and address of the proposed assignee, the proposed consideration for the assignment and all other relevant details thereof. The giving of such notice will be deemed to constitute an offer to Hilfiger Sweetface to have this license sublicense assigned to it or its designee for such consideration, or its equivalent in money, and upon such terms as are specified in the notice. Hilfiger Sweetface may accept the aforesaid offer only by written notice given to the trustee or Licensee, as the case may be, within fifteen (15) days after HilfigerSweetface's receipt of the notice to such party. If Hilfiger Sweetface fails to deliver such notice within the said fifteen (15) days, such party may complete the assignment referred to in its notice, but only if such assignment is to the entity named in said notice and for the consideration and upon the terms specified therein. Nothing contained herein will be deemed to preclude or impair any rights that Hilfiger Sweetface may have as a creditor in any bankruptcy proceeding.

Trustee in Bankruptcy. Notwithstanding the provisions of Paragraph 14.2 11.2 above, in the event that, pursuant to applicable bankruptcy law (the "Code")Law, a trustee in bankruptcy, receiver or other comparable person, of Licensee, or Licensee, as debtor, is permitted to assume this Agreement and does so and, thereafter, desires to assign this Agreement to a third party, which assignment satisfies the requirements of the Codeapplicable bankruptcy Law, the trustee or Licensee, as the case may be, must notify HilfigerLicensor. Said notice shall set forth the name and address of the proposed assignee, the proposed consideration for the assignment and all other relevant details thereof. The giving of such notice will be deemed to constitute an offer to Hilfiger Licensor to have this license assigned to it or its designee for such consideration, or its equivalent in money, and upon such terms as are specified in the notice. Hilfiger Licensor may accept the aforesaid offer only by written notice given to the trustee or Licensee, as the case may be, within fifteen (15) days after Hilfiger's Licensor’s receipt of the notice to such partynotice. If Hilfiger Licensor fails to deliver such notice within the said fifteen (15) days, such party may complete the assignment referred to in its notice, but only if such assignment is to the entity named in said notice and for the consideration and upon the terms specified therein. Nothing contained herein will be deemed to preclude or impair any rights that Hilfiger Licensor may have as a creditor in any bankruptcy proceeding.

Trustee in Bankruptcy. Notwithstanding the provisions of Paragraph 14.2 Section 8.2 above, in the event that, pursuant to the applicable bankruptcy law (the "Code"), a trustee in bankruptcy, receiver or other comparable person, of Licensee, or Licensee, as debtor, is permitted to assume this Agreement and does so and, thereafter, desires to assign this Agreement to a third party, which assignment satisfies the requirements of the Bankruptcy Code, the trustee or Licensee, as the case may be, must shall notify HilfigerLicensor of same in writing. Said notice shall set forth the name and address of the proposed assignee, the proposed consideration for the assignment and all other relevant details thereof. The giving of such notice will shall be deemed to constitute an offer to Hilfiger Licensor to have this license Agreement assigned to it Licensor or its designee for such consideration, or its equivalent in money, and upon such terms as are specified in the notice. Hilfiger may accept the The aforesaid offer may be accepted by Licensor only by written notice given to the trustee or Licensee, as the case may be, within fifteen (15) days after Hilfiger's receipt of the notice to such party. If Hilfiger Licensor fails to deliver such notice within the said fifteen (15) calendar days, such party may complete the assignment referred to in its notice, but only if such assignment is to the entity named in said notice and for the consideration and upon the terms specified therein. Nothing contained herein will shall be deemed to preclude or impair any rights that Hilfiger which Licensor may have as a creditor in any bankruptcy proceeding.

Trustee in Bankruptcy. Notwithstanding the provisions of Paragraph 14.2 aboveSection 14.2, in the event that, pursuant to applicable bankruptcy law (the "“Code"”), a trustee in bankruptcy, receiver or other comparable person, of Licensee, or Licenseeeither party, as debtordebtor (the “Debtor”), is permitted to assume this Agreement and does so and, thereafter, desires to assign this Agreement to a third party, which assignment satisfies the requirements of the Code, the trustee or Licenseethe Debtor, as the case may be, must notify Hilfigerthe other party. Said notice shall set forth the name and address of the proposed assignee, the proposed consideration for the assignment and all other relevant details thereof. The giving of such notice will be deemed to constitute an offer to Hilfiger such party to have this license Agreement assigned to it or its designee for such consideration, or its equivalent in money, and EXECUTION COPY upon such terms as are specified in the notice. Hilfiger The other party may accept the aforesaid offer only by written notice given to the trustee or Licenseethe Debtor, as the case may be, within fifteen (15) days after Hilfiger's receipt of the notice to such partythereafter. If Hilfiger the non-debtor party fails to deliver such notice within the said fifteen (15) days, such party the trustee or Debtor may complete the assignment referred to in its notice, but only if such assignment is to the entity named in said notice and for the consideration and upon the terms specified therein. Nothing contained herein will be deemed to preclude or impair any rights that Hilfiger a party may have as a creditor in any the bankruptcy proceeding.

Trustee in Bankruptcy. Notwithstanding the provisions of Paragraph 14.2 Section 13.2 above, in the event that, pursuant to applicable bankruptcy law (the "Code"), a trustee in bankruptcy, receiver or other comparable person, of Licensee, or Licensee, as debtor, is permitted to assume this Agreement and does so and, thereafter, desires to assign this Agreement to a third party, which assignment satisfies the requirements of the Codeapplicable law, the trustee or Licensee, as the case may be, must shall notify HilfigerTHL. Said notice shall set forth the name and address of the proposed assignee, the proposed consideration for the assignment and all other relevant details thereof. The giving of such notice will shall be deemed to constitute an offer to Hilfiger THL to have this license assigned to it or its designee for such consideration, or its equivalent in money, and upon such terms as are specified in the notice. Hilfiger THL may accept the aforesaid offer only by written notice given to the trustee or Licensee, as the case may be, within fifteen (15) 15 days after Hilfiger's THL’s receipt of the notice to such partynotice. If Hilfiger THL fails to deliver such notice within the said fifteen (15) 15 days, such party may complete the assignment referred to in its notice, but only if such assignment is to the entity named in said notice and for the consideration and upon the terms specified therein. Nothing contained herein will shall be deemed to preclude or impair any rights that Hilfiger THL may have as a creditor in any bankruptcy proceeding.

Trustee in Bankruptcy. Notwithstanding the provisions of Paragraph 14.2 above, in the event that, pursuant to applicable bankruptcy law (the "Code"), a trustee in bankruptcy, receiver or other comparable person, of Licensee, or Licensee, as debtor, is permitted to assume this Agreement and does so and, thereafter, desires to assign this Agreement to a third party, which assignment satisfies the requirements of the Codeapplicable law, the trustee or Licensee, as the case may be, must shall notify HilfigerLicensor. Said notice shall set forth the name and address of the proposed assignee, the proposed consideration for the assignment and all other relevant details thereof. The giving of such notice will shall be deemed to constitute an offer to Hilfiger Licensor to have this license assigned to it or its designee for such consideration, or its equivalent in money, and upon such terms as are specified in the notice. Hilfiger Licensor may accept the aforesaid offer only by written notice given to the trustee or Licensee, as the case may be, within fifteen (15) days after Hilfiger's Licensor’s receipt of the notice to such partynotice. If Hilfiger Licensor fails to deliver such notice within the said fifteen (15) days, such party may complete the assignment referred to in its notice, but only if such assignment is to the entity named in said notice and for the consideration and upon the terms specified therein. Nothing contained herein will shall be deemed to preclude or impair any rights that Hilfiger Licensor may have as a creditor in any bankruptcy proceeding.

Trustee in Bankruptcy. Notwithstanding the provisions of Paragraph 14.2 above§ 8.8, in the event that, pursuant to the applicable bankruptcy law (the "“Code"”), a trustee in bankruptcy, receiver or other comparable person, of the Licensee, or the Licensee, as debtor, is permitted to assume this Agreement and does so and, thereafter, desires to assign this Agreement to a third party, which assignment satisfies the requirements of the Code, the trustee or the Licensee, as the case may be, must shall notify HilfigerCKI of same in writing. Said notice shall set forth the name and address of the proposed assignee, the proposed consideration for the assignment and all other relevant details thereof. The giving of such notice will shall be deemed to constitute an offer to Hilfiger CKI to have this license Agreement assigned to it or its designee for such consideration, or its equivalent in money, and upon such terms as are specified in the notice. Hilfiger may accept the The aforesaid offer may be accepted by CKI only by written notice given to the trustee or the Licensee, as the case may be, within fifteen (15) days [***] after Hilfiger's CKI’s receipt of the notice to such party. If Hilfiger CKI fails to deliver such notice within the said fifteen (15) days[***], such party may complete the assignment referred to in its notice, but only if such assignment is to the entity named in said notice and for the consideration and upon the terms specified therein. Nothing contained herein will shall be deemed to preclude or impair any rights that Hilfiger which CKI may have as a creditor in any bankruptcy proceeding.

Trustee in Bankruptcy. Notwithstanding the provisions of Paragraph 14.2 above§ 8.8, in the event that, pursuant to the applicable bankruptcy law (the "Code"), a trustee in bankruptcy, receiver or other comparable person, of the Licensee, or the Licensee, as debtor, is permitted to assume this Agreement and does so and, thereafter, desires to assign this Agreement to a third party, which assignment satisfies the requirements of the Code, the trustee or the Licensee, as the case may be, must shall notify HilfigerCKI of same in writing. Said notice shall set forth the name and address of the proposed assignee, the proposed consideration for the assignment and all other relevant details thereof. The giving of such notice will shall be deemed to constitute an offer to Hilfiger CKI to have this license Agreement assigned to it or its designee for such consideration, or its equivalent in money, and upon such terms as are specified in the notice. Hilfiger may accept the The aforesaid offer may be accepted by CKI only by written notice given to the trustee or the Licensee, as the case may be, within fifteen (15) 15 days after HilfigerCKI's receipt of the notice to such party. If Hilfiger CKI fails to deliver such notice within the said fifteen (15) 15 days, such party may complete the assignment referred to in its notice, but only if such assignment is to the entity named in said notice and for the consideration and upon the terms specified therein. Nothing contained herein will shall be deemed to preclude or impair any rights that Hilfiger which CKI may have as a creditor in any bankruptcy proceeding.