Common use of Marketing and Promotion of Program Clause in Contracts

Marketing and Promotion of Program. (a) Throughout the Term of this Agreement, Virgin and Bank shall actively and consistently market, promote, participate in and support the Program, including without limitation those marketing promotions set forth in Schedule 2.5 (a) and such other methods mutually agreed upon by Virgin and Bank. Virgin and Bank will jointly agree upon programs to market the Program, both initially and on a continuing basis. (b) Bank shall contribute the amounts set forth in Schedule 2.5 (b) to apply to mutually agreed upon marketing and promotion expenses associated with the Program, such agreement not to be unreasonably withheld. All of such funds shall be referred to herein as the “Marketing Fund.” Virgin shall pay all marketing and promotion expenses directly as they are incurred by Virgin, and shall send Bank an invoice for the aggregate amount of the expenditures mutually agreed upon by the parties, together with supporting documentation reasonably satisfactory to Bank for such expenses. Bank shall then reimburse Virgin. For marketing and promotion expenses mutually agreed by the parties and incurred by Bank, Bank shall send Virgin documentation reasonably satisfactory to Virgin for such expenses and Bank shall deduct such amounts from the Marketing Fund. Bank shall have the right to cease the availability of the Marketing Funds contributed by Bank for any ***** Confidential portions of the material have been omitted and filed separately with the Securities and Exchange Commission. future marketing or promotions if either party: (i) terminates this Agreement, (ii) notifies the other party of an intent to terminate or the fact that the notifying party has already terminated this Agreement, or (iii) notifies the other of an intent to allow this Agreement to expire. If the Marketing Funds are not used in the Program Year they are contributed, they will roll over and shall be used within the first ***** of the next Program Year.