|
| |
Article 7.
Supply of Component,
Parts and Raw Materials
1. Upon Licensee’s
written request,
Licensor shall supply
components, parts and
raw materials to
Licensee in due time and
at reasonable and
competitive prices.
2. Licensee shall open
irrevocable Letter of
Credit to buy
components, parts and
raw materials from
Licensor. |
|
| |
Article 8.
Records, Auditing and
Reports
1. Licensee shall send
its statement of
royalties due for the
immediately preceding (
) month period together
with full evidences
which Licensor may
require, to reach
Licensor not later than
( ) days after the
expiration of the
immediately preceding (
) month period.
2. At the time of
remitting the royalties,
Licensee shall submit to
Licensor a written
report stating the net
selling price, overall
order price with
clients, the number, and
the type of the Licensed
Products sold or used by
Licensee under this
Agreement during the ( )
month period ended on 30
June and 31 December
each year.
Article 9.
Guarantee
1. During the terms of
this Agreement, Licensor
shall be responsible for
damage resulting from
defective Technical
Information and parts
furnished to Licensee by
Licensor.
2. Licensor shall not be
responsible for
consequential damages
resulting from the
faulty application of
Technical Information by
Licensee. |
|
| |
Article 10.
Duration and Termination
1. This Agreement shall
be effective for an
initial period of ( )
years from the effective
date of this Agreement.
After the end of this
period, the Agreement
shall expire without
notice. The parties may
agree to extend the term
of this Agreement,
provided, however, that
any extension shall be
subject to the necessary
approval by the
Government of (country).
2. If either party
hereto continues in
default of any
obligation imposed on it
here in for more than (
) days after written
notice has been
dispatched by registered
airmail by the other
party requesting the
party in default to
remedy such default, the
other party may
terminate this effect by
registered airmail to
the first party and this
Agreement shall
terminate on the date of
dispatch of such notice.
In the event of
bankruptcy,
receivership, insolvency
or assignment for the
benefit of creditors of
either party hereto, the
other party may
terminate this
Agreement, effective
immediately by giving
the first party written
notice to that effect. |
|
| |
Article 11.
Use of Trademark and
Brand Name
1. Licensor hereby
grants to Licensee, upon
the terms and conditions
hereinafter specified,
(an exclusive, a
non-exclusive),
non-assignable licence
to use the Licensed
Trademarks during such
time as this Agreement
subsist in such manner
as not to deceive the
public, on and in
connection with the
Licensed Products.
Licensor will not grant
a Licence to use the
Licensed
Trademarks in the
Contract Territory to
any other third party in
(country) during the
term of this Agreement.
2. Licensee shall be
entitled to use Licensed
Trademarks on Licensee’s
letter headings,
invoices and all
advertising and
promotional material in
such form and in such
manner as shall be
approved at the first
consulting in writing
with the Licensor.
3. Each Licensed
Trademark shall be used
only after it has been
duly
registered with the
Patent Office, and
after this Agreement has
also been duly
registered with the
Patent Office.
4. This License to use
the Licensed Trademark
is provided on a royalty
free basis.
5. If this Agreement is
terminated, Licensee
shall immediately cease
using the Licensed
Trademark. |
|
|
|