Common use of Sponsors Clause in Contracts

Sponsors. The Borrower observes the ethical norms accepted in international museum practice related to the sponsorship policy. The Lender reserves the right to approve or refuse sponsors for exhibitions consisting of his property only. Withdrawal, termination Version A The Lender may terminate the Loan Agreement, or terminate the provisions of any part of the Loan Agreement, by written notice to the Borrower with immediate effect, if the Borrower is in default of any obligation under the Loan Agreement. Version B The Lender may terminate the Loan Agreement, or terminate the provisions of any part of the Loan Agreement, by written notice to the Borrower, with immediate effect if the Borrower is in default of any obligation under the Loan Agreement. Upon the occurrence of an event of default, all rights of the Borrower under this agreement will immediately cease and terminate. The Borrower shall immediately move the loan(s) to a location specified by the Lender. The Lender may recover from the Borrower all reasonable costs, including legal fees and expenses. The Borrower as well as the Lender may cancel an exhibition or part thereof or terminate the agreement with 28 days notice. The Lender must bear all costs related to this termination. Immunity from Seizure Version A Upon request by the Lender the Borrower must obtain immunity from seizure for the loan(s) whenever the laws of the exhibition venue(s) country provide for such protection. The Lender confirms that he is the legal owner of the loaned object(s). Version B Upon request by the Lender the Borrower must obtain immunity from seizure for the loan(s) whenever the laws of the exhibition venue(s) country provide for such protection. The Lender confirms that he is the legal owner of the object(s) and knows of no third party claim to the object(s). The owner can provide full provenance history of the object(s). If not, please give details if provenance history is incomplete. A document containing a legally binding promise of immunity protection issued by the competent authority must be sent to the Lender before authorization to begin packing and shipping arrangements can be given. Governing law and jurisdiction This agreement shall be governed by the law of (insert name of state/country). Any disputes or differences between the Lender and the Borrower arising out of this agreement shall be settled by means of negotiation and arbitration. Should this fail they are to be decided by the rule of the Arbitration Institute of (insert name of state/country) Chamber of Commerce. Should individual terms of this contract become invalid or inapplicable after its signature the remainder of this contract remains untouched. Lending institution: Borrowing institution: Date: Date:

Sponsors. The Borrower observes the ethical norms accepted in international museum practice related to the sponsorship policy. The Lender reserves the right to approve or refuse sponsors for exhibitions consisting of his property only. Withdrawal, termination Version A The Lender may terminate the Loan Agreement, or terminate the provisions of any part of the Loan Agreement, by written notice to the Borrower with immediate effect, if the Borrower is in default of any obligation under the Loan Agreement. Version B The Lender may terminate the Loan Agreement, or terminate the provisions of any part of the Loan Agreement, by written notice to the Borrower, with immediate effect if the Borrower is in default of any obligation under the Loan Agreement. Upon the occurrence of an event of default, all rights of the Borrower under this agreement will immediately cease and terminate. The Borrower shall immediately move the loan(s) to a location specified by the Lender. The Lender may recover from the Borrower all reasonable costs, including legal fees and expenses. The Borrower as well as the Lender may cancel an exhibition or part thereof or terminate the agreement with 28 days notice. The Lender must bear all costs related to this termination. Immunity from Seizure Version A Upon request by the Lender the Borrower must obtain immunity from seizure for the loan(s) whenever the laws of the exhibition venue(s) country provide for such protection. The Lender confirms that he is the legal owner of the loaned object(s). Version B Upon request by the Lender the Borrower must obtain immunity from seizure for the loan(s) whenever the laws of the exhibition venue(s) country provide for such protection. The Lender confirms that he is the legal owner of the object(s) and knows of no third party claim to the object(s). The owner can provide full provenance history of the object(s). If not, please give details if provenance history is incomplete. A document containing a legally binding promise of immunity protection issued by the competent authority must be sent to the Lender before authorization to begin packing and shipping arrangements can be given. Governing law and jurisdiction This agreement shall be governed by the law of ___________________ (insert name of state/country). Any disputes or differences between the Lender and the Borrower arising out of this agreement shall be settled by means of negotiation and arbitration. Should this fail they are to be decided by the rule of the Arbitration Institute of ___________________ (insert name of state/country) Chamber of Commerce. Should individual terms of this contract become invalid or inapplicable after its signature the remainder of this contract remains untouched. Lending institution: Borrowing institution: Date: Date: Xxxxxx’s signature: Xxxxxxxx’s signature:

Sponsors. The Borrower observes the ethical norms accepted in international museum practice related to the sponsorship policy. The Lender reserves the right to approve or refuse sponsors for exhibitions consisting of his property only. Withdrawal, termination Version A The Lender may terminate the Loan Agreement, or terminate the provisions of any part of the Loan Agreement, by written notice to the Borrower with immediate effect, if the Borrower is in default of any obligation under the Loan Agreement. Version B The Lender may terminate the Loan Agreement, or terminate the provisions of any part of the Loan Agreement, by written notice to the Borrower, with immediate effect if the Borrower is in default of any obligation under the Loan Agreement. Upon the occurrence of an event of default, all rights of the Borrower under this agreement will immediately cease and terminate. The Borrower shall immediately move the loan(s) to a location specified by the Lender. The Lender may recover from the Borrower all reasonable costs, including legal fees and expenses. The Borrower as well as the Lender may cancel an exhibition or part thereof or terminate the agreement with 28 days notice. The Lender must bear all costs related to this termination. Immunity from Seizure Version A Upon request by the Lender the Borrower must obtain immunity from seizure for the loan(s) whenever the laws of the exhibition venue(s) country provide for such protection. The Lender confirms that he is the legal owner of the loaned object(s). Version B Upon request by the Lender the Borrower must obtain immunity from seizure for the loan(s) whenever the laws of the exhibition venue(s) country provide for such protection. The Lender confirms that he is the legal owner of the object(s) and knows of no third party claim to the object(s). The owner can provide full provenance history of the object(s). If not, please give details if provenance history is incomplete. A document containing a legally binding promise of immunity protection issued by the competent authority must be sent to the Lender before authorization to begin packing and shipping arrangements can be given. Governing law and jurisdiction This agreement shall be governed by the law of ___________________ (insert name of state/country). Any disputes or differences between the Lender and the Borrower arising out of this agreement shall be settled by means of negotiation and arbitration. Should this fail they are to be decided by the rule of the Arbitration Institute of ___________________ (insert name of state/country) Chamber of Commerce. Should individual terms of this contract become invalid or inapplicable after its signature the remainder of this contract remains untouched. Lending institution: Borrowing institution: Date: Date: Lender’s signature: Borrower’s signature: