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License/Lease Agreement [Form]

 

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Title:

License/Lease Agreement [Form]

Entities:

Sears, Roebuck & Co.; Cole Vision Corporation; Cole National Corp.

Date:

2003

Size:

Preview shows 6KB of 47KB total

Price:

$42

ID:

#168493

 

 

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FORM OF
LICENSE/LEASE AGREEMENT

OPTICAL

THIS LICENSE/LEASE AGREEMENT (hereinafter referred to as "Agreement") is
made and entered into as of, by and between SEARS, ROEBUCK AND CO., a New York
corporation (hereinafter referred to as "Sears") and COLE VISION CORPORATION, a
Delaware corporation, (hereinafter referred to as "Licensee/Tenant").

WHEREAS, Sears operates a retail store located at:

REGION DIST. STORE LOCATION
------ ----- ----- --------

(hereinafter referred to as the "Store"), and

WHEREAS, Licensee/Tenant desires to operate an optical concession in the
Store,

NOW THEREFORE, Sears and Licensee/Tenant hereby mutually agree as follows:

PURPOSE OF AGREEMENT

1. Licensee/Tenant is in the business described in this paragraph, and
has expertise in that business and has a marketing plan for that business. Sears
hereby leases to Licensee/Tenant the space described below, and grants
Licensee/Tenant the privilege of conducting and operating within that space, and
Licensee/Tenant shall conduct and operate, pursuant to the terms, provisions and
conditions contained in this Agreement, a concession for the sale of optical
merchandise, goods, and supplies; and for taking orders for repair, and repair
of optical merchandise, goods and supplies and for visual eye exams and for the
sale of repair and replacement certificates (hereinafter referred to as
"Concession"), in the Store.

TERM

2. The term of this Agreement (hereinafter referred to as "Term") shall
be for a period beginning on and ending at the close of business on unless
sooner terminated under any of the provisions of this Agreement.


{PAGE}

REPRESENTATION TO LICENSEE/TENANT

3. Sears makes no promises or representations whatsoever as to the
potential amount of business Licensee/Tenant can expect at any time during the
Term. Licensee/Tenant is solely responsible for any expenses incurred related to
this Agreement. Sears shall not be obligated for any expense incurred by
Licensee/Tenant in connection with any increase in the number of
Licensee/Tenant's employes or expenditures made by Licensee/Tenant for
additional facilities or equipment.

UNAUTHORIZED SALES

4. Licensee/Tenant covenants that it will use the space occupied by the
Concession only for the purpose expressly authorized in this Agreement, and will
render only those services and sell only such merchandise in the Concession as
expressly authorized by this Agreement.

FEE

5. (a) Licensee/Tenant shall pay to Sears, as provided in Paragraph 26 of
this Agreement, a fee.

NET SALES

(b) "Net Sales" means gross sales less returns, sales taxes, and
allowances for sales of merchandise, goods and supplies made in, upon or from
the Concession location, and includes:

(1) Charges for repair work made pursuant to orders taken or
received in, upon or from the Concession location and

(2) Charges for services performed in connection with the sale
in, upon or from the Concession location of merchandise, goods and supplies.

GROSS SALES

(c) "Gross Sales" means all of Licensee/Tenant's direct or indirect
sales of services and merchandise from the Concession. Eye exam fees are
excluded from Gross Sales.

HOLDING OVER

6. Licensee/Tenant shall pay Sears double the monthly Fee,


{PAGE}

for each month or portion of a month for which Licensee/Tenant of the Concession
area, retains possession of the Concession area or any part after the
termination of the Term or Licensee/Tenant's right of possession, whether by
lapse of time or otherwise. The provisions of this Paragraph shall not
constitute a waiver of any other right or remedy of Sears under this Agreement
or provided by law or equity. No such holding over shall renew or extend the
Term even if Sears accepts Fee, and Licensee/Tenant shall have no right to
continue possession of the premises, and shall be a Licensee/Tenant at
sufferance only.

CONSTRUCTION OF LEASEHOLD IMPROVEMENTS

7. (a) Licensee/Tenant shall determine (based on good engineering
practices) the nature, scope, size of the Concession and Licensee/Tenant shall
determine the nature, scope, size of the furniture, fixtures and equipment in
the Concession. Licensee/Tenant shall submit plans to Sears, Sears must approve
such plans, before commencement of construction. Sears will arrange for
construction of all improvements. The expense of all such construction and
equipment shall be divided between Sears and Licensee/Tenant as described in
Exhibit A.

TITLE TO LEASEHOLD IMPROVEMENTS

(b) All Leasehold Improvements shall become the property of Sears at
the termination of the Agreement. At the termination of the Agreement, or if
Licensee/Tenant vacates or abandons the Concession, Licensee/Tenant shall convey
to Sears, without charge, good title to the Leasehold Improvements free from any
and all liens, charges, encumbrances and rights of third parties, by means of a
Quit Claim Deed and any other documents required by Sears.

CONCESSION FAILS TO BECOME FULLY OPERATIONAL

(c) If the Concession is not fully operational within thirty (30)
days after completion of construction of the concession area as a result of
delay by Licensee/Tenant, Sears may, at Sears option, terminate this Agreement
and have no further obligation to Licensee/Tenant, and Licensee/Tenant shall
reimburse Sears within ten (10) days after receipt of an invoice, for Sears
cost, of putting the space involved back to its condition immediately prior to

 

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