Licence Rights definition
Examples of Licence Rights in a sentence
Both Burberry and the Licensee may make a submission to the investment bank chosen (the Expert) in respect of the market value of the Licence Rights.
The Expert will prepare a report which determines the Exit Payment by reference to the market value of the Licence Rights for the unexpired term of this Agreement within 45 days of its appointment, such report to be provided by the Expert to Burberry and the Licensee by no later than 30 June 2009, in the case of the First Exit Right, or 30 June 2011, in the case of the Second Exit Right.
If and when the Varied Trade Name and/or New Trade Name is registered, Burberry and the Licensee shall file an application to record the Licensee as a registered user or licensee of the Varied Trade Name and/or New Trade Name (in accordance with the Licence Rights) where so provided by the applicable trade ▇▇▇▇ legislation and all costs (including, without limitation, legal costs) in connection with any such application shall be borne by the Licensee.
The Expert's determination of the Exit Payment shall be final and binding, provided that if Burberry exercises its option to terminate on 31 December 2011 in accordance with this Agreement, Burberry shall pay, in respect of the Exit Payment, either the market value of the Licence Rights as determined by the Expert or 70% of the Actual Net Wholesale Sales in 2010, whichever is greater.
During the Option Period, the RPO and the Company shall negotiate in good faith the terms of a separate, written licence agreement between them under which the Company would be granted the Licence Rights.
On the Closing Date, Buyer shall accept, assume and agree to pay, perform or otherwise discharge, in accordance with the respective terms and subject to the respective conditions thereof and hereof, all liabilities and obligations under the Transferred Agreements and the Assigned ▇▇▇▇▇ Licence Rights, except for liabilities and obligations (i) incurred, accrued or arising on or before the Closing Date or (ii) resulting from a breach thereof by Seller (the “Assumed Liabilities”).
The Transferred Agreements and the Assigned ▇▇▇▇▇ Licence Rights may be transferred to Buyer pursuant to this Agreement and will continue in full force and effect thereafter, in each case without breaching the terms thereof or resulting in the forfeiture or impairment of any rights thereunder and without the consent, approval or act of, or the making of any filing with, any Person.
First and Matching Right in perpetuity to acquire the ABC Licence Rights (or any of them) for a further term at any time following expiration of the ABC Licence.
Subject to the Licensee's right to appoint Distributors in accordance with clause 5, the Licence Rights are non-transferable and personal to the Licensee accordingly and without prejudice to clause 34, the Licensee shall not have any rights to grant sub-licences in respect of all or any part of the Licence Rights and accordingly only the Licensee is entitled to develop, produce and manufacture pursuant to clause 2.1 and only the Licensee is entitled to market, distribute and sell pursuant to clause 2.3.
First and Matching Right for the ABC Licence Period to acquire the ABC Licence Rights (or any of them) in the ABC Licence Territory with respect to a Subsequent Series, Spin Off, Sequel and/or Remake.