Foreign Territory Proposal

Foreign Territory Proposal. Means a written proposal submitted by Syratech to VEW pursuant to Paragraph 7 that sets forth proposed terms and conditions 2 for VEW to license Syratech the exclusive right to exploit the Licensed Property in a Foreign Territory and that includes, without limitation, a proposed sales plan for the Licensed Property in the applicable Foreign Territory for the Term that (i) is consistent in all respects with the prestige luxury status of the Vera Wang brand; and (ii)... establishes that, if the Licensed Property is exploited in the applicable Foreign Territory pursuant to such sales plan, sales of the Licensed Property in the applicable Foreign Territory will exceed a threshold minimum amount to be mutually agreed to in good faith by the Parties. View More