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EXHIBIT 10.5
CHAMPIONSHIP AUTO RACING TEAMS, INC.
FORM OF OFFICIAL ORGANIZER/PROMOTER AGREEMENT
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CHAMPIONSHIP AUTO RACING TEAMS INC.
FORM OF OFFICIAL ORGANIZER/PROMOTER AGREEMENT
The undersigned hereby applies for the right to conduct an Indy Car World Series
race Competition sanctioned or co-sanctioned by Championship Auto Racing Teams,
Inc. ("CART") upon the following terms and conditions. It is understood that
this is an application only until accepted and approved by CART in writing and
that this Competition shall not be advertised or communicated to the public,
press or any other media or business arrangement as having been approved by CART
until this application has been so approved and until an official sanction has
been granted by CART.
1. Track:
Location:
Organizer/Promoter:
Address: To be furnished by Organizer/Promoter
Telephone:
Facsimile:
Race Distance:
Track Length and Type:
Postponed Date:
2. The term "Competition" as used herein shall include the annual Indy Car
race(s) designated hereinabove, as well as all time trials, practice
runs and rain or postponed dates related thereto. The term "Event" as
used herein shall include the Competition(s) as well as any other
race(s), race-related activities or any other activities associated
with the Competition(s), as approved by CART hereunder. The terms
"Dollars" and "$" refer to the lawful currency of the United States of
America.
3. Subject to compliance with all the terms and conditions set forth in
this Agreement, Organizer/Promoter shall organize, promote and conduct
a CART Indy Car race Competition at the track designated hereinabove in
the following year(s): _____, _____ and ______. The dates for the races
will be agreed upon by the parties. In the event Organizer/Promoter
reasonably determines that the track will not be in race ready
condition for the ______ Competition, Organizer/Promoter shall have the
option to cancel the ______ Competition without further liability for
that Competition, upon notice to CART of such intent by a date to be
determined by mutual agreement. If Organizer/Promoter exercises this
option in a timely manner, the Competitions covered by this Agreement
shall be held in _____, _____ and _____ respectively, and this
Agreement shall continue in full force and effect, except that the
Organization and Rights Fee for the _____ Competition shall be that
stated for _____, the Organization and Rights Fee for the _____
Competition shall be that stated for _____, and the Organization and
Rights Fee for the _____ Competition shall be that stated for _____. In
the event Organizer/Promoter exercises the foregoing option to cancel
the _____ Competition and subsequently reasonably determines that the
track will not be in race ready condition for _____ and notifies CART
of such circumstance by a date to be determined by mutual agreement,
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Organizer/Promoter shall have no further obligation as to that
Competition and the parties shall thereupon commence the re-negotiation
of this Agreement. Organizer/Promoter agrees not to organize, promote,
conduct, authorize or permit the staging of any other major motor
racing event(s) at the track(s) designated hereinabove without the
approval of CART, within the following period of time either preceding
or following any Competition hereunder: two (2) weeks. In addition,
Organizer/Promoter shall not organize, promote, conduct, authorize,
permit the staging of, or enter into negotiations for any other major
racing event(s) involving open-wheeled racing cars, to be conducted at
the track(s) designated hereinabove during any year covered by this
Agreement, provided, however, that nothing contained herein shall
preclude racing events involving the race cars commonly known as
"NASCAR Modifieds" or NHRA race events.
4. Subsequent to paragraph 3, the total Organization and Rights Fee
payable for the _____ Competition shall be ____________ Dollars
($___________), and shall be paid to CART as follows:
A. Fifteen percent (15%), or ________________ Dollars
($___________) by January 1, _____.
B. Thirty-five percent (35%), or _______________ Dollars
($_________) by July 1, _____.
C. The balance due of _______________________ Dollars
($_________) thirty (30) days prior to the day of the race.
5. Subsequent to paragraph 3, the total Organization and Rights Fee
payable for the 1997 Competition shall be ____________________________
Dollars ($___________), and shall be paid to CART as follows:
A. Fifteen percent (15%), or __________________________ Dollars
($____________) by January 1, ____.
B. Thirty-five percent (35%), or __________________________
Dollars ($_____________) by July 1, ____.
C. The balance due of _________________________ Dollars
($____________) thirty (30) days prior to the day of the race.
6. Subsequent to paragraph 3, the total Organization and Rights Fee
payable for the _____ Competition shall be ___________________________
Dollars ($_____________), and shall be paid to CART as follows:
A. Fifteen percent (15%), or _______________________
Dollars ($__________) by January 1, ____.
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B. Thirty-five percent (35%), or
__________________________ Dollars ($___________) by
July 1, _____.
C. The balance due of _____________________ Dollars
($_________) thirty (30) days prior to the day of the
race.
7. Organizer/Promoter expressly understands and agrees that said
Organization and Rights Fees are intended to be net and are
non-refundable except as expressly provided in this Agreement. Subject
to the cancellation and termination provisions in paragraph 3, if said
Organization and Rights Fees are not paid to CART in the manner and by
the time provided above, CART shall have the option to declare this
Agreement terminated, in which circumstance CART will be relieved from
any further liability or responsibility hereunder, and in addition,
Organizer/Promoter shall forthwith pay to CART and CART shall be
entitled to enforce collection of the total amount required under this
Agreement as liquidated damages and not as a penalty, together with all
costs incurred by CART in connection therewith, including reasonable
attorney fees, and interest at the rate of twelve (12%) percent per
annum. If the _____ Competition is cancelled pursuant to paragraph 3,
CART shall refund to Organizer/Promoter any partial rights fees
payments made by Organizer/Promoter, notwithstanding paragraph 9B.
8. Organizer/Promoter shall not be responsible for any purse distribution
whatsoever in respect to a Competition. CART must approve any and all
awards given in conjunction with a Competition and/or for the PPG Indy
Car World Series. Organizer/Promoter agrees to provide driver and
entrant trophies in recognition and representative of the achievements
of at least the first three (3) finishing positions in each
Competition.
9. A. CART shall be responsible for providing not less than
twenty (20) entrants for each Competition. If CART is unable
to provide twenty (20) entrants for any Competition,
Organizer/Promoter shall have the right to cancel such
Competition, providing that Organizer/Promoter first informs
CART in writing of such intent, and provided further that
twenty (20) entries have not been received within seven (7)
days after receipt by CART of such notice. If
Organizer/Promoter under these circumstances exercises this
cancellation right, it will be entitled to the return of the
portion of the Organization and Rights Fee theretofore paid
for such Competition, as shall be determined by mutual
agreement of the parties.
B. Either party hereto shall have the right to cancel a
Competition due to a "force majeure". "Force majeure" shall
mean any event or circumstances (whether arising from natural
causes, human or governmental agency or otherwise) beyond the
control of the parties including by way of illustration, but
not by way of limitation, strikes, lock-outs or other labor
disputes, civil strife, war, flood, fire, or acts of God. If
there is an unexpected cancellation due to a "force majeure",
Organizer/Promoter will be entitled to the return of the
portion of the Organization and Rights Fee theretofore paid
for such Competition, as shall be determined by mutual
agreement of the parties, except that Organizer/Promoter
agrees that
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CART may retain a sum equivalent to the necessary expenses
reasonably incurred by CART and its teams in preparing for
such Competition, which expenses shall be mutually agreed by
the parties provided, however, that if the parties are unable
to agree informally as to the amount of such expenses, such
dispute shall be submitted to binding arbitration and the
result of such arbitration shall be enforceable by any court
having jurisdiction.
C. If Organizer/Promoter cancels or fails to stage a
Competition for any reason other than those mentioned within
this paragraph 9, or in paragraph 3, Organizer/Promoter shall
forthwith pay to CART and CART shall be entitled to enforce
collection of the total amount required under this Agreement
as liquidated damages and not as a penalty, together with all
costs incurred by CART in connection therewith, including
reasonable attorney fees, and interest at the rate of twelve
(12%) percent per annum.
10. Except as expressly provided herein, Organizer/Promoter owns and shall
have exclusive control over all commercial rights to each Event
including by way of illustration, but not by way of limitation, the
right to sell and receive all the proceeds from Event sponsorships,
signage, admission tickets, programs, novelties, concessions (including
food and beverage), catering (including food and beverage), hospitality
facilities, hotel rooms, expositions, displays, parking spaces,
banquets and licenses to parades.
11. Organizer/Promoter shall assume and perform all organizational and
promotional activities for each Event except as otherwise provided
herein, including but not limited to business organization, promotional
activity, management, marketing, general affairs, selling tickets,
track maintenance and accommodations of the press, and further
understands and agrees that CART disclaims any warranty expressed or
implied, as to the potential success of any Event organized hereunder.
12. Organizer/Promoter shall organize and promote the races hereunder as
major motor racing events. Organizer/Promoter shall have the right to
on-site track entitlement, and revenues therefrom. On-site entitlement
is to designate the title/name of the race at the venue, subject to
CART approval which shall not be unreasonably withheld. All media
releases, public announcements and public disclosures by either party
or its employees or agents relating to this Agreement, including but
not limited to promotional or marketing material, but not including any
announcement intended solely for internal distribution at either party
or any disclosure required by legal, accounting or regulatory
requirements beyond the reasonable control of the disclosing party,
shall be coordinated with and approved by the other in writing prior to
the release thereof.
13. A. CART hereby grants Organizer/Promoter the non-exclusive
right to use the IndyCar name and logo in its promotion of
each Event during the term hereof, in accordance with all
provisions contained in this Agreement. Any logo, design, xxxx
or representation made, formulated, or developed in
conjunction with such Event shall be subject to the prior
written approval of CART.
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B. Organizer/Promoter shall display in all advertising and
publicity material including but not limited to news releases,
posters, banners, program covers, brochures, tickets, passes
and credentials relating to each Event the phrase: "PPG Indy
Car World Series" and the logos of PPG and IndyCar (as
approved and supplied by CART). CART reserves the right to
change such phrase and logo.
C. Organizer/Promoter shall include in its display of the
IndyCar logo the symbol (R) to indicate that it is a
registered xxxx. A sheet of camera ready art depicting these
logos shall be provided by CART. Further, in promoting and
advertising each Event, Organizer/Promoter shall promote the
Competition as a part of the PPG Indy Car World Series or as
otherwise designated by CART. Organizer/Promoter shall provide
such verification of compliance with the provisions contained
in this paragraph 13 as CART may reasonably request.
D. Organizer/Promoter shall not use the names, logos or
trademarks of CART or PPG for any purpose other than as herein
defined.
E. Upon the expiration or termination of this Agreement for
any reason, Organizer/Promoter shall cease and desist any and
all use of the names, logos or trademarks of CART or PPG or
any colorable imitation, variation or adaptation thereof.
F. CART and Organizer/Promoter shall promptly take such action
as may be necessary to protect the names, logos and trademarks
of CART and PPG against any infringement or threatened
infringement or any common law "passing off".
14. Organizer/Promoter agrees that each Competition shall be organized,
approved by CART and conducted in accordance with all applicable
statutes, ordinances, regulations or other requirements of any
government authority, and the IndyCar Rule Book as amended from time to
time and as the same may be modified or supplemented by any other
rules, regulations, bulletins or releases that may be applicable to
such Competition. CART reserves the right to terminate this Agreement
at any time without further liability for failure of Organizer/Promoter
to abide by said requirements, regulations, rules, or the terms and
conditions of this Agreement, by so notifying Organizer/Promoter in
writing. Organizer/Promoter acknowledges receipt of a copy of the
IndyCar Rule Book.
15. Organizer/Promoter represents and warrants that it has or will have
sole control of the track and of the premises upon which the track is
located, including all facilities thereon, and that Organizer/Promoter
has full authority to conduct each Event thereon as provided for herein
for the defined scheduled term of each Event.
16. Organizer/Promoter shall provide at its expense during each Event the
track, race course, and facilities in good repair and ready for use,
and Organizer/Promoter shall permit CART or its insurance broker or
other designated representative to inspect the track, race course
and/or
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facilities before, during and after each Event. All repairs deemed
necessary in order for the track to meet CART's safety requirements
must be made at Organizer/Promoter's expense and the failure to make
the necessary repairs may result in the postponement or cancellation of
such Event, in CART's sole discretion. In implementing this provision
CART will not act unreasonably. The track site, design and condition
shall be subject to review and approval by the CART Vice President of
Operations and Chief Xxxxxxx. Organizer/Promoter shall consult with
CART on the layout and design of the track, including but not limited
to the pit area, safety barriers, and other facilities for the
Competition.
17. Organizer/Promoter shall provide at its expense such facilities as CART
deems adequate for the use of CART personnel and those directly
associated with the Event, including but not limited to race control
facilities, facilities for participant registration, television,
scoring, race car inspection, compiling and distributing media
information, a media work area, and facilities and services as may be
reasonably required by those who supply products and/or services for
the Event. Further details of these and other operational and facility
requirements of Organizer/Promoter are agreed to as outlined in
SCHEDULE A attached hereto and made a part hereof.
18. Organizer/Promoter shall at its expense furnish all facilities,
personnel, equipment, and services for accommodating and controlling
the public during each Event, for whose safety and comfort
Organizer/Promoter is solely responsible and liable.
19. Organizer/Promoter shall provide at its expense all necessary personnel
as required by CART for the conduct of each Competition hereunder(other
than the CART staff and officials), and Organizer/Promoter shall assume
all the responsibilities pertaining to workers, volunteers and
subcontractors for each Event weekend.
20. Organizer/Promoter at its expense shall obtain and maintain insurance
for each Event with an insurance company approved by CART. Such
insurance must conform to the minimum coverages, specifications,
limits, etc., as set forth in SCHEDULE B attached hereto and made a
part hereof. If Organizer/Promoter fails to maintain such policies with
the required minimum coverage throughout the Event, CART may cancel
such Event immediately without prior notice to Organizer/Promoter, or
CART may, in its discretion, obtain the required insurance from an
approved insurance company, with acceptable terms, at
Organizer/Promoter's expense.
21. Only those individuals approved by CART or Organizer/Promoter,
including but not limited to drivers and pit crew and necessary fire,
wrecker, ambulance and security crews, shall have access to or be
allowed in the paddock, garage and pit areas, the racing surface, and
other areas to which admission by the general public is normally
prohibited during the Event, and Organizer/Promoter shall be solely
responsible and provide sufficient security personnel in such areas to
enforce this provision at all times during each Event. Such access must
be in compliance with the IndyCar Rule Book and may not interfere with
or adversely affect the Competition.
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22. Organizer/Promoter shall honor CART's Unified Credential System and
shall comply with the facility access provisions implemented by CART,
as set forth in SCHEDULE C attached hereto and made a part hereof.
23. CART shall have the exclusive right to contract out or to take or cause
to be taken by others, make, broadcast, rebroadcast, use, reproduce,
transmit, copyright, sell, license or otherwise dispose of for any
purpose whatsoever, television pictures, sound film and tape, motion
pictures, still photographs, electronic images and sound of each Event.
CART shall retain all national, international and local broadcast
rights including broadcast television, cable and radio.
Organizer/Promoter will assure that the presence of personnel and
equipment for these or similar purposes shall not be inconsistent with
the rights of CART herein provided and shall not interfere or conflict
with the exercise of any such rights by CART as herein provided.
24. Organizer/Promoter recognizes and acknowledges that CART has entered or
intends to enter into a television contract with a national broadcast
or cable network for the coverage of each Competition hereunder.
A. Detailed operational and facility requirements of
Organizer/Promoter in respect to television and other on-site
media are identified in SCHEDULE A.
B. CART has arranged with the television production companies
(subject to network approval) to provide the video portion of
the program feed from the mobile unit to Organizer/Promoter,
so that Organizer/Promoter may feed the video signal as a
courtesy to the media center and hospitality suites. This feed
is limited to on-site press and hospitality use only. Any
other feeds to hotels, bars, or other establishment(s) whether
on-site or off, are strictly prohibited. Organizer/ Promoter
shall be responsible for the installation and maintenance of
appropriate cable originating at the television compound which
will then feed the system. Maintenance and operation of the
system is the sole responsibility of Organizer/Promoter.
C. CART and Organizer/Promoter agree that it is in the best
interest of the sport, its promoters and sponsors to have the
same on-site and television title sponsor. CART and
Organizer/Promoter recognize and agree that all television
entitlements are derived from a privilege granted by the
television network and are subject to network approval. In the
event Organizer/Promoter provides CART with a television
entitlement sponsor, such sponsor must agree to: (i) purchase
one (1) of several commercial unit package options for either
network or cable coverage to be published by CART or its
designee each year, (ii) enter into a negotiated agreement
with CART or its designee, or (iii) guarantee a payment for
entitlement in return for which Organizer/Promoter will
receive eight (8) thirty (30) second commercial units in the
telecast to package with its on-site title. The published rate
option packages and payment option will be made available to
Organizer/Promoter at least one (1) year in advance.
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D. Organizer/Promoter may, at its option, and subject to
approval by CART or its designee and the appropriate network,
elect to guarantee over-the-air broadcast network coverage of
its Event. In this event Organizer/Promoter will be required
to provide a television title sponsor subject to: (i) purchase
of one (1) of several published minimum commercial unit
packages for either network or cable coverage, to be published
by CART or its designee each year, (ii) enter into a
negotiated agreement with CART or its designee, or (iii)
guarantee a payment for entitlement to be determined each
year. In the payment option (iii) Organizer/Promoter will
receive eight (8) thirty (30) second commercial units in the
telecast to package with its on-site title. Published rate
option packages and payment options will be made available to
Organizer/Promoter at least one (1) year in advance.
E. Organizer/Promoter shall exercise its best efforts in
assisting CART's undertaking to secure a television
entitlement sponsor. In the event such joint undertaking is
not successful, then CART or its designee shall have the
option to secure a television entitlement sponsor which need
not be the same as the on-site entitlement sponsor, provided
that upon the exercise of this option, CART agrees to first
consult with Organizer/Promoter in regard to such undertaking.
F. CART and Organizer/Promoter agree that the policy and terms
set forth as a condition of television coverage of this Event
may change from time to time, and, therefore, the television
agreement may supersede portions of this Agreement. In the
event that the television agreement supersedes a portion of
this Agreement, CART will immediately notify
Organizer/Promoter and work toward a mutually agreed upon
solution, provided, however, that if the parties are unable to
agree informally, such dispute shall be submitted to binding
arbitration and the result of such arbitration shall be
enforceable by any court having jurisdiction.
25. Organizer/Promoter recognizes and acknowledges that CART has the right
to contract for an official car and/or truck for the PPG Indy Car World
Series.
26. PPG shall have the exclusive right to provide any and all pace cars
throughout the entire Event. In addition, only PPG pace cars shall be
allowed to participate in the parade laps immediately preceding the
start of the Indy Car race. Further details of these and other
responsibilities of Organizer/Promoter to PPG are agreed to as outlined
in SCHEDULE D attached hereto and made a part hereof.
27. Organizer/Promoter agrees that the scheduled CART activities during
each Event, including those associated with the Competition, PPG Pace
Car on track activities, and CART's official support series, Indy
Lights, shall have priority over any other race or other activity
scheduled during such Event. Organizer/Promoter will not schedule any
supporting races or ancillary activities on the same day as
registration or inspection, or on any other day during an Event,
without prior written approval of CART. Further details
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of these and other scheduling considerations/requirements are agreed to
as outlined in SCHEDULE E attached hereto and made a part hereof.
28. CART shall maintain control of the grid/pre-race activities which shall
include but are not limited to the pole awards, driver introductions,
etc.
29. CART shall maintain control of the Victory Circle proceedings. Details
of these proceedings and the requirements of Organizer/Promoter in
regard thereto are agreed to as outlined in SCHEDULE F attached hereto
and made a part hereof.
30. Organizer/Promoter shall provide access to the PA system in order for
CART to fulfill its contractual obligations to its sponsors and inform
participants and spectators of activities during the Event.
31. A. CART merchandise, as supplied by CART or its licensed
representative, will be afforded the opportunity to be sold
from its own official concession stand to be located in a
prominent, high-traffic location, generally near the paddock
area. Selected items of merchandise may also be prominently
offered for sale in the track concession sales booths.
Merchandise sold from the CART booth will generate a royalty
of twenty-five percent (25%) of the gross sales, after taxes,
paid to Organizer/Promoter. Merchandise placed in the
concessionaire booths will be done so on a consignment basis
with the concessionaire given a forty (40%) percent discount
on the retail price of all merchandise sold. Retail prices
will be agreed upon in writing prior to the merchandise being
placed in concessionaire booths. All accounting will be
completed by noon of the day following the conclusion of each
Event. All payments will be made and unsold merchandise
returned at the same time.
B. It is Organizer/Promoter's responsibility to insure that
any and all concessions and/or merchandise reflecting the CART
or IndyCar marks is properly licensed. In the event that CART
discovers any unlicensed products, it will have the right to
take appropriate action in its sole discretion.
C. All IndyCar teams will be afforded the opportunity to sell
their team merchandise within the area designated by
Organizer/Promoter for such purpose. Participating teams will
pay a rights fee for such opportunity, which fee shall be (i)
consistent with the then current market price and (ii) no less
favorable for any IndyCar team than the terms and conditions
provided to other vendors located within the same area, under
comparable circumstances.
32. In conjunction with the PPG Indy Car Winner's Circle Club endorsed by
CART, Organizer/Promoter shall provide at its expense:
A. Limited access to restricted areas for club members during
group tours and club functions.
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B. Inclusion of a PPG Indy Car Winner's Circle Club
advertisement in the official race program. Camera ready art
shall be provided by CART or its designee.
C. Covered facility for meetings with a PA system, if not
provided by PPG.
33. Organizer/Promoter shall cooperate with CART in its spectator research
efforts, including but not by way of limitation allowing CART
representatives access to spectators for personal interviews and
questionnaire distribution and inclusion of a CART questionnaire in the
official race program, for which camera ready art will be provided.
34. A. Subject to availability, Organizer/Promoter shall provide
CART at no cost with space for up to sixteen (16)
non-permanent signs. Signage does not have to be in prime
television positions. CART will assume responsibility and cost
for such signs.
B. Organizer/Promoter shall provide CART, subject to mutually
agreed upon pricing, up to eight (8) advertising pages in the
Event program. One additional page in the program shall be
provided without charge for CART's own use.
C. Organizer/Promoter recognizes that each participating team
has a race sponsor. Organizer/Promoter agrees that each teem
may place its team name and sponsor(s) on both sides of the
wall in the team's assigned pit box, subject to applicable
governmental laws and regulations.
35. Organizer/Promoter acknowledges CART's hospitality requirements and
shall exercise its best efforts in assisting CART's development of a
suitable hospitality program, including the provision by
Organizer/Promoter of a preferred location for a tent or other suitable
accommodations. CART will assume responsibility and cost for food and
beverage.
36. Each Competition shall appear on the FIA calendar as a full
international FIA event. Organizer/Promoter agrees to file this listing
through CART and reimburse CART for all applicable listing fees. In
addition, Organizer/Promoter agrees to pay through CART the applicable
National Motorsports Council assessments, as determined by the
Council's Executive Committee.
37. Organizer/Promoter agrees to indemnify and hold harmless CART, its
directors, officials and officers, agents and employees ("Indemnities")
from any and all liabilities including liability resulting from
negligence of the same and all costs and expenses, including attorneys
fees incurred in the defense thereof, asserted or imposed upon CART,
its directors, officials, official representatives, employees and
officers arising out of or as a result of an Event hereunder, excluding
liabilities, costs, or expenses arising out of the gross negligence or
misconduct of Indemnities.
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38. Organizer/Promoter agrees not to take any action adverse to the
interest of CART and, in consideration of the acceptance and approval
of this application, releases and discharges CART and its officials and
representatives from all liability for personal injury that may be
received, and from all claims and demands for damages to real or
personal property or to any person growing out of or resulting from an
Event hereunder, whether caused by any construction or condition or any
track or track equipment, cars or debris, or resulting from any act or
failure of any official or any person assisting the officials serving
in connection therewith, excluding liabilities, costs, or expenses
arising out of the gross negligence or misconduct of Indemnities.
39. Nothing contained herein shall be construed to place CART in the
relationship of a partner or joint venturer with Organizer/Promoter,
and Organizer/Promoter shall have no power to obligate or bind CART in
any manner whatsoever other than as specifically provided for herein.
Neither party undertakes by this Agreement to perform any obligations
of the other, whether regulatory or contractual, or to assume any
responsibility for the other's business or operations.
40. The validity, interpretation and construction of this Agreement shall
be governed and construed by the laws of the State of Michigan. Any
litigation commenced by a party to this Agreement as the result of any
alleged breach of this Agreement shall be commenced in the circuit
court for the County of Oakland, State of Michigan, or in the
appropriate lower district court in said county, or in the U.S.
District Court for the Eastern District of Michigan, and the parties
hereby consent to such personal jurisdiction. Arbitration, if required,
shall be conducted in Detroit, Michigan in accordance with the rules of
the American Arbitration Association.
41. This Agreement is not transferable or assignable. Any transfer or
assignment in violation of this provision shall be void.
42. Any notice or written communication required or permissible hereunder
shall be sent by registered mail (or certified mail with return
receipt), postage prepaid, addressed as follows:
To CART: To Organizer/Promoter:
Championship Auto Racing Teams, Inc. Promoter
000 X. Xxx Xxxxxx Xx., Xxxxx 000 Address
Troy, MI 48084 City, State, Zip Code
43. This Agreement (including the Schedules annexed hereto) contains the
entire agreement of the parties hereto and no representations,
inducements, promises, or agreements, oral or otherwise, not embodied
herein shall be of any force or effect. This Agreement may be modified
only upon the written consent of the parties hereto. No waiver by
either party, whether expressed or implied, of any provision of this
Agreement or any breach or default shall constitute a continuing waiver
thereof. Each and every of the rights, remedies and benefits provided
by this Agreement shall be cumulative, and shall not be exclusive of
any other said rights, remedies and benefits, or of any other rights,
remedies and benefits allowed by law.
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44. The following Schedules are attached hereto, incorporated herein by
reference as though set forth in their entirety in this Agreement, and
labelled as follows:
SCHEDULE A - OPERATIONAL AND FACILITY REQUIREMENTS
SCHEDULE B - INSURANCE REQUIREMENTS
SCHEDULE C - UNIFIED CREDENTIAL SYSTEM AND FACILITY ACCESS
PROVISIONS
SCHEDULE D - PPG PROGRAM AND OFFICIAL CARS
SCHEDULE E - EVENT ACTIVITIES
SCHEDULE F - POST RACE PROCEDURES/ACTIVITIES
Any person or organization having responsibility in the organization,. promotion
or staging of any Competition, whether by contract or otherwise, shall co-sign
this Agreement and shall be jointly responsible hereunder. Organizer/Promoter
and the undersigned warrant and represent that Applicant has the full right and
authority to enter into and perform this Agreement, and that the execution and
delivery of this Agreement has been duly authorized by all necessary
governmental and/or corporate action.
Date:_____________ Applicant:
Promoter
By: _____________________________
Name
Title
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CART APPROVAL
The foregoing application is hereby approved and accepted in accordance
with the terms stated therein.
Date: ____________________ Championship Auto Racing Teams, Inc.
By: ________________________________
Its: _______________________________
CART sanction number granted: ____________________________________
Date: ____________________ ____________________________________
Authorized Signature
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