NIKE Competitor definition
NIKE Competitor means, as of the date of any determination (including as of the date of Licensee’s attempted assignment of this Agreement), any Person that, alone and/or through its Affiliates: (a) offers (i) clothing articles specifically and primarily manufactured for training, competition, or recreation in one or more sports or athletic activities other than Hockey or Skating, and (ii) one or more of the following, in each case other than for Hockey or Skating: athletic footwear, athletic accessories, or athletic equipment; and (b) generates gross sales revenue solely from the sale of the products described in clause (a) in excess of US$250 million per year. Without limiting the foregoing, as of the Agreement Effective Date, the Parties agree that NIKE Competitors include those Persons set forth on Exhibit B hereto and their respective Affiliates; provided, however, that the Parties acknowledge that, as of a future date of determination (including as of the date of Licensee’s attempted assignment of this Agreement), the Persons set forth on Exhibit B may cease to be NIKE Competitors.
Examples of NIKE Competitor in a sentence
Notwithstanding any of the foregoing in this Section 11.2, Licensee may not assign this Agreement or any of Licensee’s rights or obligations under this Agreement, to a NIKE Competitor, other than in connection with a Licensee Change of Control.
Except as specifically set forth in Section 4.3(c), the Parties acknowledge and agree that, upon an assignment of this Agreement to a NIKE Competitor pursuant to this Section 11.2, such assignee will enjoy all the rights and undertake all the duties and obligations of Licensee hereunder and will no longer be considered a NIKE Competitor for the purposes of this Agreement.