Trade Name License Agreement
This Trade Name License Agreement (the “Agreement”) is made and effective this 4th day of April, 2019,
BETWEEN:
Hanna Westcott (the 'Licensor'),
an individual with her main address at:
777 South Figueroa Street, Suite 3307, Salt Lake City, Utah 43230
AND:
Weatherman Time, Inc (the 'Licensee'),
a corporation organized and existing under the laws of the Ohio with its head office located at:
20 North Broadway, Suite 1800, Cleveland, Ohio 44113-2241
WHEREAS, Licensee acknowledges that Licensor is the owner of the name “[BRAND NAME]” and any variation thereof (the “Name”); and WHEREAS, Licensee is desirous of using the Name in connection with [DESCRIBE]. NOW, THEREFORE, in consideration of the mutual promises herein contained, the parties hereto agree as follows: 1. GRANT OF LICENSE Licensor hereby grants to Licensee and Licensee hereby accepts the right, privilege and nonexclusive license to use the Name solely in connection with [DESCRIBE] (the “Business”).
Licensee shall use the Name at all times for the Business and no other purposes. Licensor represents and warrants that, to the best of its knowledge, it owns the rights to the Name. 2. TERM The term of the license hereby granted shall be effective upon the date of execution of this Agreement and shall continue for [NUMBER] years, unless sooner terminated in accordance with the provisions hereof. 3. LICENSE FEE Licensee shall pay to Licensor, as a license fee for the use of the Name, [AMOUNT], payable [ON THE DATE HEREOF] [SET FORTH PAYMENT DATE OR DATES]. 4. NONEXCLUSIVITY Nothing in this Agreement shall be construed to prevent Licensor from granting any other licenses for the use of the Name or from utilizing the Name in any manner whatsoever. 5. GOOD WILL Licensee recognizes that there exists great value and good will associated with the Name, and acknowledges that the Name and all rights therein and good will pertaining thereto belong exclusively to Licensor, and that the Name has a secondary meaning in the mind of the public. 6. LICENSOR’S TITLE AND PROTECTION OF LICENSOR’S RIGHTS
7. INSPECTION Licensor, or its nominee, shall have access to the Business during normal business hours and to books and records of Licensee for the purpose of ensuring compliance with this Agreement. 8. USE OF NAME Licensee shall have no right to affix the Name to any building, sign, merchandise or other item without first obtaining Licensor ’s express written consent, which consent shall be within the reasonable discretion of Licensor. 9. TERMINATION
In the event of termination of this License for any reason, Licensee shall immediately cease all use of the Name and shall not thereafter use any name, mark or trade name similar thereto. Termination of the license under the provisions of this Section 9 shall be without prejudice to any rights which Licensor may otherwise have against Licensee. 10. COMPLIANCE WITH LAWS AND REGULATIONS Licensee shall, and shall cause its shareholders, officers, directors, and managing personnel to, comply with all laws, rules and government regulations pertaining to its business and shall not violate any laws which would create an adverse effect on the Name. 11. RELATIONSHIP OF PARTIES Licensee shall not in any manner or respect be the legal representative or agent of Licensor and shall not enter into or create any contracts, agreements, or obligations on the part of Licensor, either expressed or implied, nor bind Licensor in any manner or respect whatsoever; it being understood that this Agreement is only a contract for the license of the Name. 12. NAME OWNERSHIP Licensee agrees that the Name is the sole property of Licensor and that Licensee has no interest whatsoever in such Name, and Licensee shall use the Name only for so long as the license granted hereby remains in full force and effect. Licensee shall not take any actions, or aid or assist any other party to take any actions, that would infringe upon, harm or contest the proprietary rights of Licensor in and to the Name. 13. OTHER LICENSEES Licensee agrees not to interfere in any manner with, or attempt to prohibit the use of the Name by, any other Licensee duly licensed by Licensor. Licensee further agrees to execute any and all documents and assurances reasonably requested by Licensor to effectuate the licensing of the Name to any other party and agrees to cooperate fully with Licensor or any other Licensees of Licensor to protect Licensor’s lawful authority to use the Name. 14. INDEMNIFICATION AND INSURANCE
15. NOTICES All notices and statements and all payments to be made hereunder, shall be given or made at the respective addresses of the parties as set forth below such party’s name unless notification of a change of address is given in writing, and the date of mailing shall be deemed the date the notice or statement is given. 16. NO JOINT VENTURE Nothing herein contained shall be construed to place the parties in the relationship of partners or joint venturers or of franshisor/franschisee. 17. NO ASSIGNMENT OR SUBLICENSE BY LICENSEE This Agreement and all rights an duties hereunder are personal to Licensee and Licensee shall not, without the written consent of Licensor, which consent shall be granted or denied in the sole and absolute discretion of Licensor, be assigned, mortgaged, sublicensed or otherwise encumbered by Licensee or by operation of law. 18. NO WAIVER, ETC. This Agreement may not be waived or modified except by an express agreement in writing signed by both parties. There are no representations, promises, warranties, covenants or undertakings other than those contained in this Agreement with respect to its subject matter, which represents the entire understanding of the parties.
The failure of either party hereto to enforce, or the delay by either party in enforcing, any of its rights under this Agreement shall not be deemed a continuing waiver or a modification thereof and either party may, within the time provided by applicable law, commence appropriate legal proceedings to enforce any or all of such rights. 19. GOVERNING LAW This Agreement shall be construed under the laws of the State of [STATE/PROVINCE]. 20. SEVERABILITY Whenever possible each provision of this Agreement shall be interpreted in such a manner as to be effective and valid under applicable law, but if any provision of this Agreement shall be prohibited, void, invalid, or unenforceable under applicable law, such provision shall be ineffective to the extent of such prohibition, invalidity, voidability, or enforceability without invalidating the remainder of such provision or the remaining provisions of this Agreement. 21. SURVIVAL All obligations of the Licensee shall survive the termination of this Agreement. 22. ATTORNEYS’ FEES Should any litigation be commenced between the parties to this Agreement concerning this Agreement, or the rights and duties of either in relation thereto, the party prevailing in such litigation shall be entitled, in addition to such relief as may be granted, to its attorneys’ fees and costs in the litigation. IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first above written.
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