Or the third party franchisee, as the case may be, shall be entitled to receive the revenue generated from each of the Any revision to theĪgreed fees, including any discounts or prizes or other promotional measures shall require the prior written consent from Franchisor.
The products and services offered in each of the Smaaash Centres shall be decided mutually among the parties. The Franchisee shall not be entitled to set up any new Smaaash Centres without consulting with, and obtaining the prior written
All commercials between the parties in relation to the transactionsĬontemplated under this Agreement, if not specifically provided in this Agreement, shall be agreed mutually between the parties.įranchisor and Franchisee shall agree upon and decide the locations at which the Smaaash Centres shall be set up within the Territory. Has been entered into by the parties on an arms’length basis.
Master principal definition license#
or operate, and to a grant a license to third parties to establish and operate Smaaash Centres at any location outside the Territory,Īnd (ii) to own, acquire, establish and / or operate, and to grant a license to third parties to establish and operate, gamingĪnd entertainment centres under other proprietary marks or other systems, whether such centres are the same, similar or differentįrom the Smaaash Centres, at any location within or outside the Territory. That the Franchisor may deem fit and without granting any rights therein to the Franchisee, (i) to own, acquire, establish and The right granted to the Franchisee in Section 1.1, the Franchisor and its affiliates shall retain the right on the terms and conditions It is clarified that if third party franchisees shall be establishing and operating Smaaash Centres in the mannerĬontemplated under this Agreement, then the Franchisee shall ensure that such third party franchisees complies with all the obligationsĪnd duties of the Franchisee, as recorded under this Agreement, and to this extent, Franchisee may enter into relevant agreements In Exhibit A), as set out in Section 3 of this Agreement, for the purposes of establishing and operating the Smaaash Centres in Granted herein include the limited license to use the Trademarks of the Franchisor (the details of which are morefully set out To the Smaaash Centres (including a right to authorise the use of products and services developed by the Franchisor by third partyįranchisees), in the Territory, and (d) to identify third party franchisees for the Smaaash Centres in the Territory. Operate Smaaash Centres in the Territory, (b) to sub-license the right to establish and operate Smaaash Centres to third partyįranchisees in and for the Territory, (c) a license to use the products and other services developed by Franchisor with respect
Subject to Section 1.2, Franchisor hereby grants to Franchisee the exclusive right, (a) to establish and NOW, THEREFORE, the parties agree as follows: Proprietary gamification technologies to provide sport and recreational activities/services to the public (“Smaaash Centres”), upon the terms and subject to the conditions hereinafter provided. Up, managing and operating entertainment centres and gaming arcades involving virtual reality, sports simulation technology and The territories of North America and South America (“Territory”) in the manner set out in this Agreement, for setting Is (add the business of the Franchisee) andĭesires to appoint Franchisee, and Franchisee desires to be so appointed, to act as Franchisor’s exclusive Franchisee in Sport and recreational activities/services and Where Franchisor, through its virtual reality and sports simulation technology and proprietary gamification technologies provides Operates entertainment centers and gaming arcades throughout India as well as at the Mall of the Americas in Minneapolis Minnesota In the United States of America, with an address at 1345 Avenue of the Americas, 11th floor, New York, 10105 (“Franchisee”). Agreement (“Agreement”) is made and entered into on the 20 th day of November, 2018 (the “Effective Date”) at Mumbai, by and between Smaaash Entertainment Private Limited, an Indian company, with its address at Trade View, LevelĢ, Kamala Mills, Lower Parel, Mumbai 400013, India (“Franchisor”) and I-AM Capital Acquisition Company, a company incorporated
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