Licensor Agreement. Licensor has entered into an agreement (“Licensor Agreement”) with Inventor to purchase seedlings of three types of fast-growing, proprietary grasses developed Inventor and identified as “Giant King Grass”, “Purple King Grass” and “Elephant Grass”, for use as livestock feed and cellulose-based fuels. The Licensor Agreement grants Licensor the exclusively right to purchase such seedlings in the United States and Canada and the exclusive right to purchase batches of over 20,000 of such seedlings in Guangdong province, PRC, provided that Licensor purchase a minimum of 1,000,000 of such seedlings each year. Licensor also has non-exclusive rights to purchase such seedlings for use on a worldwide basis. The term of the Licensor Agreement is at least three years. Licensor has paid all required licensing or other fees or payments under the Licensor Agreement as of the First Closing, is not otherwise in default of the Licensor Agreement, and the Licensor Agreement is valid and enforceable in accordance with its terms.
Licensor Agreement. Licensor covenants that Licensor shall use best commercial efforts, and shall pay all required fees, to insure that the Licensor Agreement remains in full force and effect through the Second Closing.
Licensor Agreement. It is agreed that the Licensor may assign its rights set forth in this agreement at any time during the term of the agreement.
Licensor Agreement. None of the Credit Parties is promoting, distributing or marketing any products that contain the “Modine” marks pursuant to the Aftermarket License Agreement, dated as of July 21, 2005, between Modine Manufacturing Company and Borrower, other than using Modine labels on shipping boxes that are in existence on the Closing Date and other than “Modine” marks on its website as of the Closing Date.
Licensor Agreement. The Agent shall have received the Licensor Agreement, dated as of the Fourth A&R Amendment Effective Date, duly executed by the Obligors (including R&B Holdings and R&B Industries), RB TopCo SAGL, a limited liability company (società a garanzia limitata) incorporated under the laws of Switzerland, Guess Europe SAGL, a Swiss limited liability company, and the Agent, and shall be in full force and effect.
