Exclusive Master License definition

Exclusive Master License means the right to access, receive and supply products and in conjunction with the Licensor to manufacture and produce products and for the purposes of any trade or business to sell, offer for sale or sub-license for use on such terms and conditions as the Licensee shall in its absolute discretion deem appropriate (including but not limited to the requirement for sub-licensees to purchase licenses and pay royalties to the Licensee) to any and all persons wherever situated and to the granting of sub-licenses under and in the terms and conditions of this agreement to all persons.
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Examples of Exclusive Master License in a sentence

  • On account of these pitfalls, the Exclusive Master License model is giving way to other structures such as area development, area representation, joint ventures, and hybrid arrangements.

  • In an international environment, one of the big advantages of an Exclusive Master License, aside from quick expansion, is that a franchisor can substantially cut its cost and share its risk by appointing a Master Franchisee in a foreign territory, rather than having a joint venture or a wholly-owned subsidiary.

  • The Vendor shall take all steps and do all things necessary to enable the Purchaser and/or its representatives to carry out the enquiries and the due diligence investigation as provided in Clause 3.1 and to notify and make known to the relevant authorities and parties of the sale of the Exclusive Master License within a reasonable time.

  • The quantum of this fee depends on factors such as nature of business, the duration of the Exclusive Master License, and the number of franchises to be set up.

  • Typically, the Exclusive Master License provides for a development schedule, and the Master Franchisee is expected to adhere to this schedule in terms of development of new units.

  • This Agreement constitutes the sole and only agreement between the Vendor and the Purchaser respecting the Exclusive Master License and correctly sets forth the agreement reached between them in respect of the subject matter of this Agreement and supersedes and cancels all previous and other agreements, negotiations, representations, undertakings or undertakings whatsoever whether written or oral in respect thereof.

  • This is a key differentiating feature of an Exclusive Master License.

  • For example, an Exclusive Master License may provide that the Master Franchisee would share 30 per cent of the franchise fee received and 50 per cent of the royalty for every new unit that is set up by a sub-franchisee.