UL Masterbrand definition
Examples of UL Masterbrand in a sentence
Insofar as Licensee might have been regarded for the purposes of any Applicable Law to be entitled to any goodwill arising out of this Agreement or out of Licensee’s use of the UL Masterbrand or Licensed Brand Assets, Licensee hereby assigns and transfers to UL its ownership in that goodwill, without further consideration.
Unless the Parties otherwise agree, UL, in its sole discretion, reserves the right to modify the Brand Guidelines from time to time and, upon notification of any such modification, Licensee will be given a reasonable period of time to transition its use to comply with the updated Brand Guidelines, provided that UL shall also be obligated to comply with any modifications that apply to UL’s use of the UL Masterbrand.
In order to protect and preserve the UL Masterbrand and Licensed Brand Assets, Licensee agrees to cooperate and comply with all reasonable measures undertaken by UL to review and evaluate the portfolio of Licensed Brand Assets, including a semi-annual review, on the dates reasonably set by UL, of the current and future planned use, or planned cessation of use, of any of the Licensed Brand Assets and to otherwise reasonably cooperate and provide assistance with the administrative activities related thereto.
Licensee may not settle any such suit or enter into any other agreement affecting the UL Masterbrand, any of the Licensed Brand Assets and/or UL’s rights in them without UL’s prior written approval.
Licensee shall not commit any act, make any representation, or advertise in any manner that may reasonably be expected to (a) adversely affect UL’s ownership of the UL Masterbrand or the Licensed Brand Assets or (b) be detrimental to UL’s good name and reputation.
As between UL and Licensee, UL is the sole and exclusive owner of all right, title and interest in and to the UL Masterbrand and the Licensed Brand Assets in the Territory and all the goodwill associated therewith.
Notwithstanding the foregoing, Licensee shall not grant a sublicense of any rights or licenses (i) to which it is not granted rights hereunder, (ii) to any UL Competitor, or (iii) to any third Person whose exercise thereof either UL and/or Licensee believes (in their respective reasonable judgment) would reasonably be expected to have an adverse effect on the UL Masterbrand, any of the Licensed Brand Assets, or any goodwill associated therewith or the business and/or reputation of UL.