Licensed Property; Grant Clause Samples

Licensed Property; Grant. The trademarks and trade names that are the subject of this Agreement include those set forth on Exhibit D, including all derivations thereof (collectively the “Licensed Property”; Licensed Property includes but is not limited to any current and future registrations of the Licensed Property, and any derivations of the License Property), and also include any other trade names, trademarks or service marks that CMP now uses or in the future may use. PSS acknowledges that CMP is and shall remain the sole owner of the Licensed Property. CMP hereby grants PSS a nontransferable, non-exclusive license and right to use the Licensed Property solely for the marketing and sale of Products in the Territory on the terms set forth in this Agreement. PSS shall have no rights or claims with respect to the marketing and sale of Products in any location other than the Territory. Upon termination of this Agreement for any reason, PSS shall immediately cease all use of the Licensed Property. Prior to beginning sales of any Products in a country outside of the United States, PSS shall take all action reasonably necessary to protect the Licensed Property used in connection with such Products on CMP’s behalf in that country. PSS will not use, register or take other action outside of the United States with respect to the Licensed Property prior to PSS presenting CMP with a plan to protect the Licensed Property in that country, and CMP giving written approval of the plan, which approval will not be unreasonably withheld or delayed. Unless CMP has provided prior written consent, any registrations of the Licensed Property shall be in the name of CMP as owner. Except as expressly provided in this Agreement, CMP does not grant any right, title or interest any intellectual property