Fill and Sign the License of Vending Machines Form

License of Vending Machines Agreement made on the _____________________ (date), between _____________________ (Name of Licensor), a corporation organized and existing under the laws of the state of _____________________ (name of state), with its principal office located at _________________________________________ (street address, city, state, zip code) , referred to herein as Licensor, and _____________________ (Name of Licensee), a corporation organized and existing under the laws of the state of _____________________ (name of state), with its principal office located at _________________________________________ (street address, city, state, zip code) , referred to herein as Licensee. Whereas, Licensee owns, operates, and services vending machines of various types for the sale of various foods and beverages; and Whereas, Licensor owns, or has an interest in, real property on which Licensee desires to install its vending machines. Now, therefore, for and in consideration of the mutual covenants contained in this Agreement, and other good and valuable consideration, the parties agree as follows: 1. License to Install Machines A. Licensee, at Licensee's expense, may install its vending machines for the sale of food and beverages on Licensor's property in locations to be mutually agreed on by authorized representatives of the parties to this Agreement. B. Licensee agrees to supply, maintain, pay any license fees and taxes, and operate its machines in such a manner as to ensure that they are attractive, neat, and functioning at all times. 2. Consideration. Licensee will submit to Licensor, by the _________ day of each month, a statement covering the sales made through the vending machines for the preceding month, together with a check for _________ % of the sales made during said preceding month. 3. Privilege not Exclusive . The permission given by this Agreement is not exclusive, and Licensor specifically reserves the right at any time to install, or permit to be installed by others, vending machines or facilities of a nature similar to those of Licensee. 4. Service Connections. Licensor will furnish all necessary electrical and service connections for the operation of the vending machines and will permit interruption in such services only in the case of an emergency or power failure or other interruption beyond the control of Licensor. Licensor agrees to notify Licensee of any interruption in such services as soon as Licensor is aware of such interruption. 5. Indemnification of Licensor. Licensee shall indemnify and hold harmless Licensor, its agents, successors and assigns, from and against any and all liability, cost, and expense for loss of or damage to property and for injuries to or deaths of persons arising or resulting from the installation, maintenance, presence, use, operation, or removal of Licensee's vending machines, or use of any of the products dispensed from such vending machines. 6. Duration of License. T his Agreement shall become effective on ____________ (date), and may be terminated by either party giving _________ (number) days' written notice to the other party, after which all of Licensee's machines shall be removed within _________ (number) days from the date of receipt of such notice from the premises of Licensor. 7. Severability The invalidity of any portion of this Agreement will not and shall not be deemed to affect the validity of any other provision. If any provision of this Agreement is held to be invalid, the parties agree that the remaining provisions shall be deemed to be in full force and effect as if they had been executed by both parties subsequent to the expungement of the invalid provision. 8. No Waiver The failure of either party to this Agreement to insist upon the performance of any of the terms and conditions of this Agreement, or the waiver of any breach of any of the terms and conditions of this Agreement, shall not be construed as subsequently waiving any such terms and conditions, but the same shall continue and remain in full force and effect as if no such forbearance or waiver had occurred. 9. Governing Law This Agreement shall be governed by, construed, and enforced in accordance with the laws of the State of _____________________ (name of state). 10. Notices Unless provided herein to the contrary, any notice provided for or concerning this Agreement shall be in writing and shall be deemed sufficiently given when sent by certified or registered mail if sent to the respective address of each party as set forth at the beginning of this Agreement. 11. Attorney’s Fees In the event that any lawsuit is filed in relation to this Agreement, the unsuccessful party in the action shall pay to the successful party, in addition to all the sums that either party may be called on to pay, a reasonable sum for the successful party's attorney fees. 12. Mandatory Arbitration Notwithstanding the foregoing, and anything herein to the contrary, any dispute under this Agreement shall be required to be resolved by binding arbitration of the parties hereto. If the parties cannot agree on an arbitrator, each party shall select one arbitrator and both arbitrators shall then select a third. The third arbitrator so selected shall arbitrate said dispute. The arbitration shall be governed by the rules of the American Arbitration Association then in force and effect. 13. Entire Agreement This Agreement shall constitute the entire agreement between the parties and any prior understanding or representation of any kind preceding the date of this Agreement shall not be binding upon either party except to the extent incorporated in this Agreement. 14. Modification of Agreement Any modification of this Agreement or additional obligation assumed by either party in connection with this Agreement shall be binding only if placed in writing and signed by each party or an authorized representative of each party. 15. Assignment of Rights The rights of each party under this Agreement are personal to that party and may not be assigned or transferred to any other person, firm, corporation, or other entity without the prior, express, and written consent of the other party. 16. Counterparts. This Agreement may be executed in any number of counterparts, each of which shall be deemed to be an original, but all of which together shall constitute but one and the same instrument. 17. Compliance with Laws In performing under this Agreement, all applicable governmental laws, regulations, orders, and other rules of duly-constituted authority will be followed and complied with in all respects by both parties. WITNESS our signatures as of the day and date first above stated. _____________________ _____________________ (Name of Licensor) (Name of Licensee) By: _____________________ By: _____________________ (P rinted Name & Office in Corporation) (P rinted Name & Office in Corporation) _____________________ _____________________ (Signature of Officer) (Signature of Officer)