Clients and Customers. (a) During the term hereof, any and all new client engagements obtained or procured by BMTS for MedClean’s products and services shall be deemed MedClean’s clients, Any contracts or agreements for MedClean products or services shall be executed in the name of and inure to the benefit of MedClean. Any and all new client engagements obtained or procured by BMTS for BMTS’ products and services shall be deemed BMTS’ clients, Any contracts or agreements. For BMTS’ products or services shall be executed in the name of and inure to the benefit of BMTS. (b) Should this Agreement terminate prior to the consummation of the Merger, then and in such event (i) all contracts signed during the term under the MedClean name for existing MedClean products or services shall be free of any claim of BMTS, (ii) all contracts signed under the MedClean name for products or services developed by BMTS during the term shall remain the sole and separate property of BMTS, free of any claim of MedClean, and (iii) all contracts signed under the BMTS name for products or services developed by BMTS during the term shall remain the sole and separate property of BMTS. free of any claim of MedClean. Each party shall indemnify, defend and hold harmless the other from any future liability under client contracts which inure to that party following the termination hereof.
Appears in 2 contracts
Sources: Management Agreement, Management Agreement (MedClean Technologies, Inc.)
Clients and Customers. (a) During the term hereof, any and all new client engagements obtained or procured by BMTS for MedClean’s products and services shall be deemed MedClean’s clients, Any contracts or agreements for MedClean products or services shall be executed in the name of and inure to the benefit of MedClean. Any and all new client engagements obtained or procured by BMTS for BMTS’ products and services shall be deemed BMTS’ clients, Any contracts or agreements. For BMTS’ products or services shall be executed in the name of and inure to the benefit of BMTS.
(b) Should this Agreement terminate prior to the consummation of the Merger, then and in such event (i) all contracts signed during the term under the MedClean name for existing MedClean products or services shall be free of any claim of BMTS, (ii) all contracts signed under the MedClean name for products or services developed by BMTS during the term shall remain the sole and separate property of BMTS, free of any claim of MedClean, and (iii) all contracts signed under the BMTS name for products or services developed by BMTS during the term shall remain the sole and separate property of BMTS. , free of any claim of MedClean. Each party shall indemnify, defend and hold harmless the other from any future liability under client contracts which inure to that party following the termination hereof.
Appears in 1 contract
Sources: Management Agreement (Biomedical Technology Solutions Holdings Inc)