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Title: |
License Agreement |
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Entities: |
Candie’s, Inc.; Innovo Group Inc.; Michael Caruso & Co., Inc.; Innovo, Inc. |
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Date: |
2003 |
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Size: |
Preview shows 3KB of 25KB total |
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Price: |
$40 |
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ID: |
#149475 |
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EXHIBIT 10.3
LICENSE AGREEMENT
This license agreement (this "Agreement") is made as
of the day of March 2001, between Michael Caruso & Co.,
Inc., a California corporation, with offices at 400
Columbus Avenue, Valhalla, New York 10595 ("Licensor"), and
Innovo, Inc., with offices at 2633 Kingston Pike, Suite 100,
Knoxville, TN 37919 ("Licensee") (collectively, the
"Parties").
WHEREAS, Licensor has, as a result of its substantial
use and promotion, become identified with the trade name,
trademark and service mark "BONGO", particularly for
footwear and accessories and products and services related
thereto, and as a result of such substantial use and
promotion has developed a reputation for products and
accessories that represent a certain lifestyle, quality and
distinctiveness; and
WHEREAS, Licensee desires to acquire the right and
license from Licensor to use the trade name, trademarks and
service: mark, whether or not registered, consisting of
"BONGO", and such variations and derivations thereof as
Licensor in its sole discretion shall designate as usable by
Licensee (the Licensed Mark"), in connection with the
design, manufacture, sale, marketing, distribution,
advertising and promotion of Articles (as defined herein),
upon such terms and subject to such conditions as set forth
herein.
NOW THEREFORE, in consideration of the mutual
representations, warranties and covenants hereinafter set
forth, the Parties hereby agree as follows:
1. GRANT AND USF OF LICENSE.
1.1 General. Licensor hereby grants to Licensee during
the Term (as defined In Section 2.1 and subject to the terms
and conditions of this Agreement, an exclusive right and
license, without the right to assign or sublicense any of
the rights hereunder, to use the Licensed Mark in connection
with the manufacture, sale, marketing, distribution,
advertising and promotion of bags, belts and small
leather/pvc goods (the "Articles") throughout the Territory
(as defined in Section 1.2).
1.2 Territory. Licensee shall have the right to sell,
market, distribute, advertise and promote Articles
throughout the United Stars, including its territories and
possessions, Mexico, Central and South America and Canada
(the "Territory"). Notwithstanding the foregoing, it is
understood that Licensor only has applied for or registered
the Licensed Mark in the countries set forth in Exhibit A
hereto, and that If Licensee desires to sell Articles within
a country not included in Exhibit A, Licensor shall
cooperate with Licensee in applying for and/or registering
such mark in its name, but Licensee shall be solely
responsible far all such costs, expenses and fees associated
therewith and shall, upon Licensor's submission to Licensee
of documentation reflecting such costs, fees and expenses,
promptly reimburse Licensor for any and all amounts so
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