00) per year payable in quarterly
instalments of Two Thousand Five Hundred Dollars ($2,500.00) each, or in
other words, the minimum royalty payable shall be Ten Thousand Dollars
($10,000.00) per year.
12. Royalties shall continue only during the life of said patent Number
1,628,657, and when a total of Two Hundred Fifty Thousand Dollars
($250,000.00) has been paid by Licensee to Licensor, all royalties shall
cease and the license hereunder shall be free thereafter.
13. Licensor agrees that Licensee shall have the benefit of any more
favorable royalty rates that may be hereafter granted to or enjoyed by
any other manufacturer of engines other than aircraft engines.
14. Licensee agrees to keep proper books of account showing the number
of engines manufactured and sold or used under this agreement and to
report quarterly to Licensor.
15. In case of suit against the Licensee for infringement of patents by
any of the Dorner features built under this license Licensor agrees to
assist in the defense of any such suit and pay the expenses thereof up
to an amount equal to Ten Percent (10%) of all royalties paid by
Licensee to Licensor hereunder.
16. In event of default of the Licensee in the payment of any of the
sums herein provided for, Licensor may terminate this license agreement
by serving upon the Licensee Sixty (60) days' notice in writing of its
desire and determination so to do and stating the default upon which the
notice is based, and at the expiration of such Sixty (60) days this
license shall thereupon be terminated, provided however that such
termination shall not release the Licensee from obligations already
accrued hereunder and not performed, and provided further that if,
during said Sixty (60) days' notice period, the default named in said
notice shall have been made good then this license to continue as if no
default and notice had been made or given.
17. At the expiration of any one year from November 1, 1929, Licensee
may terminate this agreement upon Sixty (60) days' notice in writing to
Licensor of its desire and determination so to do, provided however,
that such termination shall not release the Licensee from obligations
already accrued hereunder and not performed.
18. In case of differences of opinion regarding any of the terms of this
agreement, the dispute shall be submitted to arbitration. Each party
shall select one arbitrator and if they, after five days, fail to agree
upon a third, t
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