License Termination Agreement
Category: 270 Legal Recent Posts, Commercial Lease, License Agreements
LICENSE TERMINATION AGREEMENT
THIS LICENSE TERMINATION AGREEMENT (“Agreement”) is executed as of the 31st day of July, 2007, by and between Ozburn-Hessey Logistics, LLC (“Licensor”), and Overstock.com, Inc. (“Licensee”).
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1. Effective as of August 15, 2007 (the “Termination Date”), Licensee surrenders the License and the Licensed Premises demised by the License, and all rights thereunder, with the intent that the unexpired term of the License and any renewals shall be extinguished; and Licensee hereby releases, as of the Termination Date, all of its right, title and interest in and to the License and the Licensed Premises. Licensee covenants, agrees and represents that it shall have no further right to possession of the Licensed Premises from and after the Termination Date, and Licensor covenants, agrees and represents that Licensee shall have no further obligation or liability under the License or with respect to the Licensed Premises after the Termination Date except for such obligations or liabilities which arose prior to the Termination Date, or, pursuant to the terms of the License, were intended to survive the expiration thereof.
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Click here for the complete License Termination Agreement