Schein Sample Clauses

Schein. This Agreement is a personal contract, and the rights and interests that the Agreement accords to Schein may not be sold, transferred, assigned, pledged, encumbered, or hypothecated by him. All rights and benefits of Schein shall be for the sole personal benefit of Schein, and no other person shall acquire any right, title or interest under this Agreement by reason of any sale, assignment, transfer, claim or judgement or bankruptcy proceedings against Schein. Except as so provided, this Agreement shall inure to the benefit of and be binding upon Schein and his personal representatives, distributes and legatees.
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Schein for good and valuable consideration, which shall include a non-refundable deposit of Twenty-Five Thousand Dollars ($25,000.00) to be applied in full toward ERGOBILT's first annual minimum payment and to be paid upon execution of this AGREEMENT, hereby grants an exclusive license to ERGOBILT under the PROPERTY rights of SCHEIN and all improvements in the PROPERTY and any and all further related patents, copyrights and patent and copyright applications in the United States and in all foreign countries. SCHEIN further agrees that he shall not, either personally or through his representatives, utilize the PROPERTY and/or improvements during the term of this AGREEMENT, and will not compete with ERGOBILT regarding the PROPERTY. This AGREEMENT is a license to ERGOBILT to utilize the PROPERTY and should not be construed as an assignment or any other granting of a PROPERTY interest in the PROPERTY beyond a license. The term of this AGREEMENT is five years. no other license or agreement in existence which gives any other person or entity any rights to any of the PROPERTY, except that there exist end-users such as stenographers who utilize the Property having previously purchased the machines discussed herein and currently use the technology discussed herein SCHEIN expressly represents and warrants that he has made no conveyance of any interest, license or other arrangement regarding the PROPERTY. SCHEIN has no knowledge of any infringement of or claim by any person or entity with respect to, any of the PROPERTY.
Sample 1

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