Common use of Section 26 — Right of First Refusal Clause in Contracts

Section 26 — Right of First Refusal. The first sentence of Section 26, relating to the right of first refusal, is hereby deleted and replaced with the following sentence: Should Licensor decide, at its initiative or upon an offer from a third party, to introduce, market, import, manufacture and/or distribute, or cause to be introduced, marketed, imported or manufactured, within the Territory, any of the following additional products: (i) Men’s Active, (ii) Boys’, Women’s and Girls’ Jeans, Casual or Active collections, and (iii) Underwear, Licensee shall have a right of First Refusal for a license for these products, with terms and royalty rates as offered by the third party or otherwise to be discussed and agreed upon at that time.