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TRADEMARK LICENSE AGREEMENT
This TRADEMARK LICENSE AGREEMENT
is made as of ______________, 199__ between X Corporation a ___________
corporation ("Licensor"), and Y Corporation, a Japanese
corporation ("Licensee").
WHEREAS, Licensor is the
owner of registrations and applications for registration of the
trademarks (the "Trademarks") set forth on the attached
Schedule A (which schedule shall automatically include any new
registrations and applications for registration of trademarks
in Japan to be made by Licensor);
WHEREAS, Licensee desires
to obtain an exclusive license to use the Trademarks in Japan,
and
WHEREAS, Licensor is willing
to grant Licensee such rights and licenses to use the Trademarks.
NOW, THEREFORE, in consideration
of the premises and for other valuable consideration, the parties
hereto agree as follows:
1. Grant of License.
1.01. Licensor
hereby grants to Licensee, and Licensee hereby accepts the grant
by Licensor, subject to the terms and conditions of this Agreement,
an exclusive royalty-free right and license to use the Trademarks
in Japan in connection with distribution and maintenance of ___________
_____________ manufactured by the Licensor and manufacture
and distribution of promotional goods.
2. Quality Standards for
Goods
2.01. The
promotional goods bearing the Trademarks manufactured, distributed
or sold by Licensee (the "Goods") shall be of a standard
of quality in material and workmanship comparable to those of
Licensor so as to be best suited to the protection, preservation
and enhancement of the Trademarks and the goodwill pertaining
thereto and will meet or exceed any specific quality standards
established by Licensor from time to time which are applicable
to such Goods.
2.02. In
order to insure compliance with the quality standards set forth
herein, Licensee shall (i) maintain adequate quality control
procedures to insure that the Goods manufactured or purchased
by Licensee meet the standard of quality required in Section
2.01 hereof, (ii) submit to Licensor upon request for its inspection
samples of the Goods in sufficient quantity, and (iii) permit
reasonable periodic inspection of the Goods by Licensor's qualified
representatives, as well as to make such reasonable tests of
product quality as the representatives consider necessary. If
any such inspection shows that the Goods sold by Licensee do
not meet the standards set forth in Section 2.01 above, then
Licensor shall notify Licensee in writing and Licensee shall
have one hundred eighty (180) days following receipt of such
notice to demonstrate to Licensor either that the Goods sold
by Licensee under the Trademarks do comply with the standards
set forth in Section 2.01 or that corrective measures have been
taken so that the Goods sold by Licensee under the Trademarks
in the future will meet those standards. In the event that Licensee
shall fail to comply with the requirements set forth in the preceding
sentence, Licensor may give notice of breach in accordance with
Section 5.01 of this Agreement.
3. Exclusive User Right
Registrations
3.01. Licensee
shall have the right to file, at its own expense, exclusive user
right (Senyo-shiyoken) registration with respect to any of the
Trademarks, and Licensor shall fully cooperate with Licensee
in such filing.
4. Protection of Trademark.
4.01. Licensee
acknowledges Licensor's ownership of the Trademark licensed herein
and Licensee agrees that its every use of the Trademark will
inure to the benefit of Licensor.
4.02. In
the event of any unauthorized use or infringement of the Trademarks
by third parties, the Licensee may institute legal proceedings
against such third parties, in its discretion and at its own
cost, and may retain any recovery obtained on the condition that
the exclusive user right was registered with respect to the trademark
in question in favor of Licensee. If the exclusive user right
was not registered, Licensor and Licensee shall consult with
each other to decide whether or not to proceed with the legal
action and who should bear the cost therefor. The party who bears
the cost shall retain any recovery obtained. In any event, Licensee
may, at any time, without obtaining Licensor's consent or approval,
request said third party to stop such unauthorized use or infringement
of any Trademarks.
5. Term and Termination.
5.01. This
Agreement shall become effective upon the date first written
above and shall continue in force so long as Licensor holds 51%
or more of the issued and outstanding shares of Licensee, provided,
however, either party shall have the right to terminate this
Agreement upon sixty (60) days written notice to the other party
if such other party materially defaults in the performance of
any of its material obligations under this Agreement and such
default remains uncured and unremedied for a period of sixty
(60) days after receipt of such notice.
5.02. This
Agreement shall terminate forthwith upon notice by either party
hereto to the other party hereto if (i) such other party shall
make an assignment for the benefit of creditors or a composition
with creditors; (ii) such other party shall generally fail to
pay or shall admit in writing its inability to pay its debts
as they mature; (iii) such party shall file a petition in bankruptcy;
(iv) such other party shall be adjudicated bankrupt or insolvent,
or shall commence any proceedings under any bankruptcy, reorganization,
arrangement, readjustment of debt or receivership law or statute
of any jurisdiction, whether now or hereafter in effect; (v)
there shall be commenced against the defaulting party any such
proceeding which shall remain undismissed for a period of sixty
(60) days or more, or any order, judgment or decree approving
the petition in any such proceeding shall be entered (unless
such order, judgment or decree is being appealed by proper proceedings
and has been stayed pending the outcome of such appeal); (vi)
any such other party shall by any act or failure to act indicate
its consent to, approval of or acquiescence in, any such proceedings,
or in the appointment of any receiver, liquidator or trustee
of, or for, such defaulting party or any substantial part of
its property or assets, or shall suffer any such appointment
to continue undischarged or unstayed for a period of sixty (60)
days or more; (vii) any such party shall take any action for
the purpose of effecting any of the foregoing; or (viii) a receiver
or trustee or other officer or representative or a court, governmental
officer or agency, under color of legal authority, shall take
and hold possession of any substantial part of such other party's
property or assets for a period in excess of sixty (60) days.
6. Miscellaneous.
6.01. Licensee
may grant sublicenses under this Agreement.
6.02. This
Agreement contains the entire agreement between the parties.
This Agreement can be modified, changed or discharged only by
a written instrument duly executed by the parties; provided,
however, that the parties to this Agreement will enter into such
other and further agreements as may be necessary to effect the
purpose of this Agreement including without limitation exclusive
user registration agreements.
6.03. Neither
party shall be deemed to be an agent of the other as a result
of or in connection with any transaction under or related to
this Agreement. Neither party shall in any way incur any obligation
on behalf of the other. This Agreement does not and shall not
be deemed to create a partnership or joint venture among the
parties.
6.04. If
any part or parts of this Agreement are or shall become invalid
or unenforceable under applicable law, the validity of the remaining
provisions of this Agreement shall not be affected. The parties
shall attempt in good faith to reach an agreement within a reasonable
period of time upon the replacement of the invalid or unenforceable
provision by a new provision which follows as closely as possible
the commercial intent of the invalid or unenforceable provision.
6.05. This
Agreement may be executed in two or more counterparts, each of
which shall be deemed an original but all of which together shall
constitute one and the same instrument.
IN WITNESS WHEREOF, the
parties hereto have duly executed this Agreement as of the day
and year first above written.
X Corporation
By: __________________
Y Corporation
By: __________________
Schedule A
TRADEMARKS
MARK APPLICATION/REGISTRATION
NO.
1.
2.
3. |