Chong definition
Examples of Chong in a sentence
In the event VapAria does not make commercially reasonable efforts or VapAria or its affiliates license, produce, or otherwise market a competing product, Chong will be entitled to terminate this Agreement as provided in Article 7.
VapAria hereby makes the representations, warranties, and covenants contained in this Article 3.00 to Chong, and acknowledges that Chong is relying upon the accuracy of each such representation, warranty, and covenant in connection with its entering into this Agreement.
Chong makes and VapAria receives no warranties of any kind, either expressed or implied, statutory or otherwise.
Chong is acquiring the Consideration Shares for its own account with the present intention of holding such securities for purposes of investment, and that it has no intention of distributing such Consideration Shares or selling, transferring or otherwise disposing of such Consideration Shares in a public distribution, in any of such instances, in violation of the federal securities laws of the United States of America.
Chong hereby makes the representations and warranties contained in this Article 3.00 to VapAria, and acknowledges that VapAria is relying upon the accuracy of each such representation and warranty in connection with its entering into this Agreement.
VapAria shall be permitted to sublicense the patent to any other party and such sublicense shall be honored by Chong in the event that VapAria or its legal successor is dissolved, declares bankruptcy or is otherwise no longer able or willing to pursue to the normal and anticipated course of its business activities.
Chong specifically disclaims any and all implied warranties or conditions of merchantability, satisfactory quality or fitness for a particular purpose.
This Agreement is a legal, valid, and binding obligation of Chong, enforceable against Chong and VapAria in accordance with its terms.
Furthermore, Chong will agree to bear all expenses and costs associated with protecting the patent from infringement and/or from claims of infringement from other parties.
VapAria shall pay to Chong a royalty in the amount of $50,000 per annum in the first calendar year, and for each year thereafter for the remaining life of the patent, in which the patent is licensed and/or commercialized with an acknowledged embodiment and/or use.