This License Agreement (this "Agreement") is made effective as of _____, 20 __, between _____________, of ________, City _________, State _____, Zipcode _________, and _____________, of ______________, City ____________, State ______, Zipcode ____.
In the Agreement, the party who is granting the right to use the licensed property will be referred to as "________", and the party who is receiving the right to use the licensed property will be referred to as "__________".
The parties agree as follows:
1. GRANT OF LICENSE. _________ owns ________. In accordance with this Agreement, _______ grants _______ an exclusive license to use the ________.
2. TRANSFER OF RIGHTS. This Agreement shall be binding on any successors of the parties.
3. TERMINATION. This Agreement may be terminated by either party by providing 30 days' written notice to the other party.
4. ENTIRE AGREEMENT. This Agreement contains the entire agreement of the parties and there are no other promises or conditions in any other agreement whether oral or written. This Agreement supersedes any prior written or oral agreements between the parties.
5. ARBITRATION. Any disputes pertaining to the the said contractual arrangement being affairs that cannot be settled amicably shall be submitted to an arbitrator under the Rules of the American Arbitration Association in the City of [city], whose award may be reduced to judgment in any court of competent jurisdiction.
6. AMENDMENT. This Agreement may be modified or amended, if the amendment is made in writing and is signed by both parties.
7. SEVERABILITY. If any provision of this Agreement shall be held to be invalid or unenforceable for any reason, the remaining provisions shall continue to be valid and enforceable. If a court finds that any provision of this Agreement is invalid or unenforceable, but that by limiting such provision it would become valid or enforceable, then such provision shall be deemed to be written, construed, and enforced as so limited.
8. WAIVER OF CONTRACTUAL RIGHT. The failure of either party to enforce any provision of this Agreement shall not be construed as a waiver or limitation of that party's right to subsequently enforce and compel strict compliance with every provision of this Agreement.
9. NO REPRESENTATIONS. Neither party has made any representations nor promises, other than those contained in this Lease or in some further writing signed by the party making the representation or promise.
10. APPLICABLE LAW. This Agreement shall be governed by the laws of the State of [State].