LICENSE AGREEMENT

LICENSE AGREEMENT

 THIS LICENSE AGREEMENT (this ‘‘agreement’’) effective as of [DATE], is entered into by and between PLAY BISTRO & DESSERTS MANAGEMENT of address [ADDRESS] (hereafter “Licensor”), and [NAME] of address [ADDRESS] (hereafter “Licensee”). 

WHEREAS the Licensor is in the business of [STATE NATURE OF BUSINESS, THE NAME OF THE RESTAURANT AND ITS LOCATION]]

WHEREAS The licensor has agreed to provide to the licensee for commercial utilization the licensing rights of licensed space of Restaurant on payment of advance on “as is where is basis”, herein after referred to as “Restaurant”, on payment of Advanced License Fee along with applicable taxes and interest free Security Deposit (SD) and other charges to Licensor on the terms and conditions hereunder contained in this License Agreement.

WHEREAS the Licensee shall commission, manage, operate, maintain and vacate the licensed space allotted to them at [LOCATION OF THE RESTAURANT] as specified in this Agreement at its own cost.

 

NOW, THEREFORE, in consideration of the premises, and of the mutual promises and undertakings herein contained, the parties, intending to be legally bound, do agree as follows:

 

  • OBLIGATIONS OF THE LICENSEE
    1. Licensee hereby assumes responsibility for licensed space of Restaurant.
    2. Licensee shall be responsible to manage, operate, maintain and the vacate Licensed Space as specified in this Agreement at its own cost. All the alterations, installations, operations and formats proposed by the Licensee are subject to approval by the Licensor with regard to operational feasibility, aesthetics, and safety and security concerns.
    3.  Licensee irrevocably agrees to make all payments including license fee, common area maintenance charges and other amounts due to the Licensor as per this Agreement as and when due, without delay or demur, without waiting for any formal advice from The Licensor in this regard.
    4. The Licensee confirms having examined the potential location of the Licensed Space in detail and fully understands and comprehends the technical and operational requirements of the Restaurant. The Licensee also confirms full satisfaction as to the business viability of the licensed space and hereby voluntarily and unequivocally  agrees not to seek any claim, damages, compensation or any other consideration, whatsoever on this account. Licensee also confirms having made independent assessment of present and future market potential and no future claim what so ever regarding change in market circumstances shall be used by it as an alibi or excuse for non-payment of license fee and other amounts due to the Licensee under this License Agreement.
  2. TERM 

This Agreement is a 5- year license agreement unless otherwise agreed upon in writing.

  1. CONSIDERATION

The Licensee agrees that upon signing of the engagement letter, a fee of $5000 shall be paid. The first half of licensing fee shall be due in 15 days. The second half shall be due at the signing of the licensing agreement. First license fee shall be due 1 month after opening.

 

  1. SUB-LICENSING

Any sublicensing must be approved by PLAY BISTRO & DESSERTS MANAGEMENT.

 

  1. INSPECTION RIGHTS

The licensor reserves the right to inspect the premises at any time.

  • FORCE MAJEURE

Neither party shall be under any liability for any loss or for any failure to perform any obligation hereunder due to causes beyond its control including without limitation industrial disputes of whatever nature, acts of God, or any other cause beyond its reasonable control.

 

  1. TERMINATION AND DISPUTES
    1. Both Parties to this Agreement may terminate this Agreement, without prejudice to any other remedy either Party may have, immediately without further obligation to the other Party, in the event of any material breach of this Agreement that cannot be remedied within a reasonable time following a notice by one party of the breach.
    2. The party intending to terminate this agreement must write a 90 day notice in advance to the other party.
    3. Termination shall not relieve Licensee’s obligation to pay all amounts which are due and payable or which Licensee has agreed to pay.
    4. Except as otherwise specifically agreed in writing by the Contractor and the Company, any dispute relating to any rights and/ or obligations arising from this Agreement shall be resolved through mediation. Play Bistro & Desserts Management shall appoint a mediator for purposes of this section. However, any dispute which is not resolved by the parties shall be adjudicated by any court of competent jurisdiction.
  2. VALIDITY

If any part of this Agreement is held to be illegal or unenforceable, the validity or enforceability of the remainder of this Agreement shall not be affected.

  1.   BINDING AGREEMENT

This Agreement will be binding upon and inure to the benefit of the parties hereto, their respective successors and assigns. Licensee may not assign its rights or obligations under this Agreement without the prior written consent of Licensor.

  1.  NO WAIVER

Failure by either party to exercise any right or remedy under this Agreement does not signify acceptance of the event giving rise to such right or remedy.

  1.  GOVERNING LAW

This Agreement shall be deemed to have been executed in [STATE/PROVINCE] and will be governed by and construed in accordance with the laws of [STATE/PROVINCE]. The parties hereby consent to the jurisdiction of the courts of [STATE/PROVINCE] for the purpose of any action or proceeding brought by either of them in connection with this Agreement.

  1.   ATTORNEYS’ FEES

Licensee shall be responsible for Licensor’s reasonable attorneys’ fees associated with the enforcement of the terms of this Agreement or the collection of any amounts due under this Agreement.

 

In Witness whereof the parties hereto have caused this agreement to be signed in their respective hands as of the day and year first before written

 

NAME___________________________________       SIGNATURE_______________________________

 

(LICENSOR)

 

NAME__________________________________ 

SIGNATURE ________________________________

 

(LICENSEE)

At Legal writing experts, we would be happy to assist in preparing any legal document you need. We are international lawyers and attorneys with significant experience in legal drafting, Commercial-Corporate practice and consulting. In the last few years, we have successfully undertaken similar assignments for clients from different jurisdictions. If given this opportunity, we will be able to prepare the legal document within the shortest time possible.