Common use of WORLDWIDE MARKET RIGHTS Clause in Contracts

WORLDWIDE MARKET RIGHTS. Both Seller and Buyer intend that Buyer and the Buyer's distributors shall be a primary distribution channel for the Products to end-user customers for both the domestic and international markets. The Buyer shall have worldwide distribution rights to sell the Products. Seller shall assist Buyer in obtaining type approvals and homologation for Buyer to distribute Products worldwide. Homologation schedules and distribution of homologation costs are to be mutually agreed upon between the Buyer and Seller. Seller further agrees where applicable to list Buyer's OEM name on certificates already earned, where possible. With respect to non domestic market rights Seller and Buyer agree to the following: a. On ore before the effective date of this Agreement, Buyer will provide to Seller a confidential list (Buyer's list) of those countries in which Buyer will support sales of the Products through Buyer's direct sales operations or its in-country distributors. The Buyer's list will also indicate the names of the distributors that Buyer intends to use for resale of the Products in each country. Seller will review the Buyer's list and within ten (10) days after receipt of such list: i.) Seller shall provide to the Buyer a list (Seller's list) that specifies any areas of potential conflicts or problems with the Buyer's list and will specify the names of the distributors within the countries on the Buyer's list that the Seller is currently in negotiation with, ii.) Seller further agrees that it will not enter into any new discussions to add other in-country distributors to the countries on the Buyer's list for at least six (6) months after the Effective Date without Buyer's written consent. After Seller has received Buyer's list and returned to the Buyer the Seller's list, the Buyer agrees to grant Seller forty five (45) day in which to close on any distribution agreements that the Seller may have in process. b. Any time within one year after the Effective Date Buyer may add countries to the Buyer's list as Buyer requires. The same guidelines as outlined in item a. of this Section will be used for each country, with the six month time period starting after Seller receives Buyer's written request to add the countries to the Buyer's list.