Common use of Packaging Designs Clause in Contracts

Packaging Designs. In the event this Agreement is properly terminated, MFB shall have the right to purchase the packaging designs for the Royalty Bearing Products from Nonni's at a price equal to the amount expended by Nonni's on such packaging designs. To exercise this right, MFB shall notify Nonni's in writing of MFB's intent to purchase the packaging design, not later than 30 days after termination. Upon receipt of such notice, Nonni's shall provide MFB with the amount of Nonni's cost for packaging design, whereupon, MFB may rescind its offer within twenty (20) business days of receipt of the price of such costs for packaging design, otherwise MFB shall be deemed to have accepted such cost as the purchase price for such packaging.