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    Royalty Agreement

    Uploaded by

    albycadavis
    Royalty

    Copyright:

    © All Rights Reserved
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    Royalty Agreement

    Uploaded by

    albycadavis
    37 views2 pages
    Royalty

    Original Title

    ROYALTY AGREEMENT

    Copyright

    © © All Rights Reserved

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    Royalty

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    37 views2 pages

    Royalty Agreement

    Uploaded by

    albycadavis
    Royalty

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    of 2

    ROYALTY AGREEMENT

    This ROYALTY AGREEMENT (herein known as the “Agreement”) is made and entered
    into as of the __ day of ____, 2022 (Effective Date) by and between:

    General Motors Company, duly incorporated, organized, and registered under the laws
    of The United States of America, with its principal place of business at GM Renaissance Center,
    Detroit, Michigan, U.S., and engaged in the business of the Automotive Industry (herein referred
    to as the “GM”);
    -and-
    The Covenant Car Company, Inc., Chevrolet-Philippines, and having an address at
    5/F ALCO Building, 391 Senator Gil Puyat Ave., Brgy. Bel-Air, Makati City (“TCCCI”, which term
    shall include all Affiliates, as hereinafter defined).

    WITNESSETH:
    Whereas, the GM owns and holds the rights to grant an interest in the use of letters,
    trademarks, and signages (“Property”) of Chevrolet, the TCCCI has expressed an interest to
    make use of the Grantor’s letters, trademarks, and signages of Chevrolet in the Philippines for a
    period of _____________ by paying a portion of TCCCI’s profits as royalty for the property;
    Whereas, the GM and TCCCI wish to enter into this AGREEMENT;
    NOW, THEREFORE, in consideration of the various promises and undertakings set forth
    therein, the Parties agree as follows:
    ARTICLE 1 – DEFINITIONS
    As used therein, the following capitalized terms shall have the following meanings:
    1.1 “Affiliate”, with respect to any Party, shall mean any person or entity controlling, controlled
    by, or under common control with such Party. For these purposes, “control” shall refer to
    (i) the possession, directly or indirectly, of the power to direct the management or policies of
    a person or entity, whether through the ownership of voting securities, by contract or
    otherwise or (ii) the ownership, directly or indirectly, of at least 50% of the voting securities
    or other ownership interest of a person or entity.

    1.2 “Marks” shall mean various trademarks, service marks, names and designs used by General
    Motors Company and its subsidiaries and affiliates, which may be used by the Grantee in
    the course of its business.

    1.3 “Effective Date” shall mean the date first written above.

    1.4 “Parties” shall mean GM and TCCCI collectively and each individually a “Party” to this
    Agreement.
    1.5 “GM” shall mean the General Motors Entity, which is a subsidiary or affiliate of General
    Motors Company.

    1.6 “General Motors” shall refer to General Motors Company and its subsidiaries and affiliates
    which do business as part of the General Motors group.

    1.7 “Territory” shall mean the Philippines.

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