TRADEMARK LICENSE AGREEMENTIP Intellectual Property License Assignment Agreement |
|
|
|
You are currently viewing: This IP Intellectual Property License Assignment Agreement involves
Brake Systems, Inc | RAYMARK INDUSTRIES, INC. RealDealDocs™ contains millions of easily searchable legal documents and clauses from top law firms. Search for free - click here. |
|
|
|
Search IP Intellectual Property License Assignment Agreement by:
Exhibit 10.8 TRADEMARK LICENSE AGREEMENT --------------------------- THIS AGREEMENT made and entered into as of the 18th of March, 1985 by and between RAYMARK INDUSTRIES, INC. ("Raymark"), a Connecticut corporation, 100 Oakview Drive, Trumbull, Connecticut 06611, and Brake Systems, Inc. ("BSI"), a Connecticut corporation, 75 East Main Street, Stratford, Connecticut 06497. WITNESSETH ---------- WHEREAS, Raymark manufactures and/or sells through its Brake Systems Division a complete line of dry brake friction products for on-highway vehicles ("Friction Products") including, without limitation, brake linings, relined brake shoes, disc brake pads and brake blocks and a complete line of hydraulic brake products ("Hydraulic Brake Products") including, without limitation, new and remanufactured master cylinders; wheel cylinders for drum brake systems; brake drums; hubs and rotors (new and remanufactured) for disc brake systems; calipers for disc brake systems; drum brake, disc brake, wheel cylinder, caliper and master cylinder repair kits; brake hose; brake cable; brake hardware; brake fluid; rivets; brake tools and equipment; springs; push-rods and pistons for hydraulic clutch master cylinder assemblies and repair kits therefor; and hydraulic clutch slave assemblies and repair kits therefor; and WHEREAS, Raymark manufactures and sells through its Industrial Division a variety of dry and wet friction products ("Industrial Friction Products") including, without limitation, automatic transmission parts, compressed sheet resins, oil-emersed friction products, adhesives, sintered metal products, molded and woven clutch facings, plastic products, industrial brake linings and other industrial friction material; and WHEREAS, Raymark is the owner of the trademark RAYBESTOS which it uses in connection with the manufacture and/or sale of Friction Products, Hydraulic Brake Products and Industrial Friction Products; and WHEREAS, Raymark and BSI have entered into an Agreement relating to the sale to BSI of certain assets of the Brake Systems Division; and WHEREAS, Raymark is willing to license BSI and Raybestos Canada, Inc. (hereinafter BSI shall mean Brake Systems, Inc. and/or Raybestos Canada, Inc., and Raybestos Canada, Inc. shall be bound by all of the terms, conditions and covenants of this Agreement) to use the trademark RAYBESTOS on and in connection with the manufacture and sale of Friction Products and Hydraulic Brake Products on the terms and conditions hereafter set forth; NOW, THEREFORE, in consideration of the mutual covenants hereafter set forth, the parties agree as follows: 1. Grant ----- Subject to the terms and conditions of this Agreement, Raymark hereby grants to BSI an exclusive, royalty-free, world-wide (except for the countries listed in Exhibit A) license to manufacture, have manufactured, use and sell products for on-highway vehicles bearing the trademark RAYBESTOS as follows: (i) Hydraulic Brake Products now existing or subsequently developed; (ii) Friction Products now existing or subsequently developed from existing materials for on-highway vehicles in Classes I-VI, motorcycles and racing cars; (iii) Friction Products for on-highway vehicles in Classes VII and VIII which are sold only through automotive warehouse distributors; and (iv) new products made with subsequently developed brake materials for use in friction products for on-highway vehicles in Classes I-VI, motorcycles and racing cars, and on-highway vehicles in Classes VII and VIII sold only through automotive warehouse distributors ("New Products"). BSI shall not use and/or advertise the trademark RAYBESTOS in association with any products or services other than (i) Hydraulic Brake Products, (ii) Friction Products, and (iii) New Products, as above defined. 2 BSI shall have the right to use the trademark RAYBESTOS in connection with the advertising, promotion, distribution, and sale of such products bearing the trademark RAYBESTOS including, without limitation, on cartons and boxes, in advertisements, on signs and in catalogs and brochures. It is agreed that BSI may use the trademark RAYBESTOS in association with Hydraulic Brake Products, Friction Products and/or New Products in advertisements, brochures, and catalogs which contain other trademarks and products associated with such other trademarks, provided that RAYBESTOS brand products are segregated from other brand products and BSI adheres to the provisions of the preceding paragraph and the second paragraph of Section 4. 2. Quality Standards ----------------- BSI agrees that the quality standards of Hydraulic Brake Products identified by the trademark RAYBESTOS will be equal to the quality standards of the Hydraulic Brake Products currently sold by Raymark. BSI agrees that the quality standards of Friction Products and New Products identified by the trademark RAYBESTOS will be equal to the quality standards of Friction Products manufactured by Raymark at the date hereof. BSI shall, upon request of Raymark, submit a reasonable number of samples of Hydraulic Brake Products, Friction Products and New Products as manufactured under the trademark RAYBESTOS and shall, at all reasonable times, permit Raymark or its authorized agent to examine the finished products manufactured under the trademark RAYBESTOS by or for BSI and all quality control test data pertaining thereto, in order that Raymark may determine whether such products conform to the quality standards established by Raymark. 3. Term ---- This Agreement shall be effective at the date hereof and continue indefinitely, provided, however, that chronic inability or failure on the part of BSI to meet the quality standards






