This is an agreement between _______________________ (Licensee) and Pepperdine University. Whereas licensee desire to utilize certain designations comprising designs, trade names, trademarks, service marks, and certain logo graphics and/or symbols (Licensed Marks), which have become associated with Pepperdine University, for commercial purposes.
Pepperdine University grants to Licensee the non-exclusive right to utilize the Licensed Mark(s) of Pepperdine University for retail sales of the following article(s): __________________________ in the United States. This agreement shall become effective __________________________ through __________________________.
No license is granted hereunder for the use of the Licensed Mark(s) for any purpose other than upon or in connection with the licensed articles that may be sold pursuant to this Agreement.
Licensee shall pay to Pepperdine University upon execution hereof a fee of __________________________ for the license granted herein payable to Pepperdine University.
Licensee recognizes the great value of goodwill associated with the Licensed Mark(s). As such, if licensed articles manufactured and/or sold are of inferior quality, design, material, or workmanship, the substantial goodwill of Pepperdine University may be impaired. Accordingly, Licensee undertakes that licensed article(s) shall be of high quality and are manufactured in accordance with corresponding sample as shown.
This Agreement shall be construed in accordance with the laws of the State of California and shall not be binding until signed by both parties.
Licensee: Pepperdine University