1.1 "Editorial Licensed Material" means Licensed Material relating to events that are newsworthy or of public interest and identified as such on the PortForLio website.
1.2 "Invoice" means the computer-generated or pre-printed standard form invoice provided by PortForLio setting out the PortForLio licensing company and the terms agreed with the Licensee. The Invoice shall be incorporated into this Agreement and all references to the Agreement shall include the Invoice.
1.3 "Licensed Material" means any still image, film or video footage, audio product, visual representation generated optically, electronically, digitally or by any other means, including any negatives, transparencies, film imprints, prints, original digital files, or any other product protected by copyright, trademark, patent or other intellectual property rights, which is licensed to Licensee by PortForLio under the terms of this Agreement. Any reference in this Agreement to the Licensed Material shall be to each individual item within the Licensed Material and also to the Licensed Material as a whole.
1.4 "Licensee" means the entity purchasing a license hereunder or, if there is a separate Purchaser, the entity specifically designated as Licensee during the purchase process and set forth as such in the Invoice.
1.5 "Licensee Work" means an end product or service that has been created by or on behalf of Licensee using independent skill and effort and that incorporates a Reproduction of the Licensed Material as well as other material.
1.6 "Purchaser" means an entity purchasing the license hereunder on behalf of a third-party Licensee.
1.7 "Reproduction" and "Reproduce" mean any form of copying or publication of the whole or a part of any Licensed Material, via any medium and by whatever means, the distortion, alteration, cropping or manipulation of the whole or any part of the Licensed Material, and the creation of any derivative work from, or that incorporates, the Licensed Material.
1.8 "Rights and Restrictions" means the information available to Licensee at the time of Licensed Material selection, either: (i) accompanying the Licensed Material on the PortForLio' website (including all areas of the purchase process); (ii) in a written quote issued by PortForLio; or (iii) in the editorial feed (if so delivered), and as might also be reflected in the Invoice. Such restrictions may include, without limitation, the permitted scope of use, duration of license, any territory or other use restrictions applicable to the Licensed Material selected, and the corresponding price for the license of such Licensed Material ("License Fee"). The Rights and Restrictions shall be incorporated into this Agreement and all references to the Agreement shall include the Rights and Restrictions.
2.1 PortForLio grants to Licensee a non-exclusive, non-sublicensable and non-transferable right to use and Reproduce the Licensed Material identified in the Invoice, solely to the extent explicitly stated in this Agreement. This right may be exercised by subcontractors of Licensee (including Purchaser) for preparation of the Licensee Work, provided that such subcontractors agree to abide by the terms of this Agreement.
2.2 Use of the Licensed Material is strictly limited to the use, medium, period of time, print run, placement, size of Licensed Material, territory and any other restrictions specified in the Rights and Restrictions. Licensee may utilize the Licensed Material in any production process as may be necessary for the intended use specified in the Rights and Restrictions, including as set forth in Section 2.1 above. Licensee may license and/or transfer ownership of any Licensee Work (but not any Licensed Material contained therein) as part of any distribution process as may be necessary or appropriate for the intended use specified in the Rights and Restrictions solely as part of the distribution process contemplated in the Rights and Restrictions in connection with the intended use specified therein.
2.3 Unless additional rights are stipulated in the Rights and Restrictions or granted pursuant to a separate license agreement, Editorial Licensed Material may not be used for any commercial, promotional, endorsement, advertising or merchandising use. For clarification, in this Agreement use of Licensed Material in an "editorial" manner means use relating to events that are newsworthy or of public interest and expressly excludes any advertorial sections (i.e. sections or supplements in relation to which Licensee receives a fee from a third-party advertiser or sponsor).
2.4 Editorial Licensed Material may be cropped or otherwise edited for technical quality, provided that the editorial integrity of the Licensed Material is not compromised, but shall not, under any circumstances, otherwise be altered.
2.5 While efforts have been made to correctly caption the subject matter of, and to provide other information (including metadata) related to, the Licensed Material, PortForLio does not warrant the accuracy of such information.
2.6 Pornographic, defamatory or otherwise unlawful use of Licensed Material is strictly prohibited, whether directly or in context or juxtaposition with other material or subject matter. Licensee shall also comply with any applicable regulations and/or industry codes.
2.7 If any Licensed Material featuring a model or property is used in connection with a subject that would be unflattering or controversial to a reasonable person (except for Editorial Material used in an editorial manner), Licensee must accompany each such use with a statement that indicates that: (i) the Licensed Material is being used for illustrative purposes only; and (ii) any person depicted in the Licensed Material, if any, is a model.
2.8 Licensed Material shall not be incorporated into a logo, corporate ID, trademark or service mark, without obtaining the prior written consent of PortForLio.
2.9 Licensee may not make the Licensed Material available in a manner intended to allow or invite a third party to download, extract, redistribute or access the Licensed Material as a standalone file.
2.10 Editorial Licensed Material may not be modified, reconfigured or repurposed for use in any mobile-directed web sites or mobile applications that are specifically created for viewing of Licensed Material and/or the Licensee Work on mobile devices, without obtaining the prior written consent of PortForLio, which consent might require payment of an additional License Fee. For clarification, this restriction on mobile use is not breached if Licensed Material that is licensed for website use can be viewed via mobile devices in a "pull" (as opposed to "push") fashion, provided it is not so specifically modified, reconfigured or repurposed for this purpose.
2.11 Unless otherwise specified in the Rights and Restrictions, Licensee may not, directly or indirectly, Reproduce the Licensee Work in any secondary Reproductions, such as compilations, screen shots, in-context promotions or on file-sharing or social networking websites such as YouTube, Facebook, MySpace, Bebo, etc.
2.12 Licensed Material shall not be used contrary to the Rights and Restrictions.
2.13 Where Purchaser is licensing Licensed Material on behalf of a Licensee, Purchaser hereby represents and warrants that: (i) Purchaser is authorized to act as an agent on behalf of Licensee and has full power and authority to bind Licensee to this Agreement; and (ii) if Licensee subsequently disputes such power or authority, Purchaser shall be liable for any failure of Licensee to comply with the terms of this Agreement. Nothing in this Section 2.13 shall excuse Purchaser's obligation to make payment to PortForLio of the License Fee.
2.14 Licensee may not falsely represent, expressly or impliedly, that Licensee is the original creator of a visual work that derives a substantial part of its artistic components from the Licensed Material.
2.15 If the Rights and Restrictions allow Reproduction of the Licensee Work on website, Licensee shall post terms and conditions on its permitted websites that prohibit, republication, retransmission, reproduction or other use of the Licensed Material as a stand-alone file.
2.16 If the Rights and Restrictions include use on any social media platform or other third party website; (i) such rights shall automatically be revoked in the event that the third party website seeks to exploit purported rights to the Licensed Material contrary to the terms of this Agreement, and (ii) in such event, upon PortForLio’ request, Licensee shall remove any Licensed Material from such platform or website.
3.1 Copyright. No ownership or copyright in any Licensed Material shall pass to Licensee by the issuance of the license contained in this Agreement. Except as expressly stated in this Agreement, PortForLio grants Licensee no right or license, express or implied, to the Licensed Material.
3.2 Trademarks. In connection with the use of "PortForLio" or any other of PortForLio' or its partners' trade names, trademarks, logos or service marks, including the names of all Licensed Material collections ("Marks"), Licensee acknowledges and agrees that (i) such Marks are and shall remain the sole property of PortForLio or its partners; (ii) except as expressly required in order to satisfy the credit obligations under this Agreement, nothing shall confer upon Licensee any right of use in or to the Marks; and (iii) Licensee shall not now or in the future contest the validity of the Marks.
3.3 Photo Credit. Except as otherwise noted in Section 10, all Licensed Material used in an editorial context must include the following credit line adjacent to the Licensed Material: "[Photographer's Name]/[Collection Name]/PortForLio" or as otherwise shown on the PortForLio website. If Licensee omits the credit, an additional fee in an amount up to one hundred percent (100%) of the License Fee may be payable by Licensee, at PortForLio' sole discretion. The foregoing fee shall be in addition to any other rights or remedies that PortForLio may have at law or in equity.
3.4 Audio/Visual Production Credit. If Licensed Material is used in an audio/visual production in either an editorial context or a non-editorial context but where credits are accorded to other providers of licensed material, credit shall be accorded, where technically feasible, in equal size and comparable placement to such credit(s), substantially in the following form: "[Video] [Imagery] supplied by [Collection Name]/PortForLio".
3.5 Notice of Violations. Licensee will immediately notify PortForLio if it becomes aware or suspects that any third party that has gained access to the Licensed Material through Licensee is wrongfully using the Licensed Material, in whole or in part, or is violating any of PortForLio' intellectual property rights, including, but not limited to, Marks and copyrights
4.1 PortForLio will notify Licensee in the Rights and Restrictions if it has obtained a model release and/or a property release for Licensed Material. The warranty and indemnity set forth in Sections 5.1(iv) and 6.1 below are only provided if and when such written notification is given. If no such notification is given, then no such model or property release has been obtained. No releases are generally obtained for Editorial Licensed Material. Licensee acknowledges that some jurisdictions provide legal protection against a person's image, likeness or property being used for commercial purposes when they have not provided a release. Licensee shall be responsible for payment of any amounts that may be due under, and compliance with any other terms of, any applicable collective bargaining agreement(s) (such as Screen Actors Guild in the US) as a result of Licensee's use of the Licensed Material.
4.2 Except where Licensee is specifically notified that a model and/or property release has been obtained, PortForLio does not grant any right nor make any warranty with regard to the use of names, people, trademarks, trade dress, logos, registered, unregistered or copyrighted audio, designs or works of art or architecture depicted in any Licensed Material. Licensee shall be solely responsible for determining whether release(s) is/are required in connection with any proposed use of Licensed Material, and Licensee shall be solely responsible for obtaining all necessary release(s).
5.1 PortForLio warrants that: (i) the Licensed Material will be free from defects in material and workmanship for thirty (30) days from delivery (Licensee's sole and exclusive remedy for a breach of this warranty being the replacement of the Licensed Material); (ii) it has all necessary rights and authority to enter into and perform this Agreement; (iii) Licensee's use of the Licensed Material in accordance with this Agreement and in the form delivered by PortForLio (i.e., excluding any modifications, overlays or re-focusing by Licensee) will not infringe on any copyrights or moral rights of any person or entity; and (iv) if a release is provided by PortForLio pursuant to Section 4.1, Licensee's use of the Licensed Material in accordance with this Agreement and in the form delivered by PortForLio (i.e., excluding any modifications, overlays or re-focusing by Licensee) will not, where a property release is provided, infringe on any trademark or other intellectual property right and/or will not, where a model release is provided, violate any right of privacy or right of publicity.
5.2 PortForLio DOES NOT MAKE ANY OTHER WARRANTIES, EXPRESS OR IMPLIED, REGARDING THE LICENSED MATERIAL OR ITS DELIVERY SYSTEMS, INCLUDING, WITHOUT LIMITATION, ANY IMPLIED WARRANTIES OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE. PortForLio SHALL NOT BE LIABLE TO LICENSEE OR ANY OTHER PERSON OR ENTITY FOR ANY PUNITIVE, SPECIAL, INDIRECT, CONSEQUENTIAL, INCIDENTAL OR OTHER SIMILAR DAMAGES, COSTS OR LOSSES ARISING OUT OF THIS AGREEMENT, EVEN IF PortForLio HAS BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES, COSTS OR LOSSES. SOME JURISDICTIONS DO NOT PERMIT THE EXCLUSION OR LIMITATION OF IMPLIED WARRANTIES OR LIABILITY FOR CERTAIN CATEGORIES OF DAMAGES. PortForLio SHALL NOT BE LIABLE FOR ANY DAMAGES, COSTS OR LOSSES ARISING OUT OF OR AS A RESULT OF MODIFICATIONS MADE TO THE LICENSED MATERIAL BY LICENSEE OR THE CONTEXT IN WHICH LICENSED MATERIAL IS USED IN A LICENSEE WORK.
6.1 Provided Licensed Material is only used in accordance with this Agreement and Licensee is not otherwise in breach of this Agreement and as Licensee's sole and exclusive remedy for any breach of the warranties set forth in Section 5.1(ii)-(iv) above, PortForLio shall, subject to the terms of Section 5.2 above and Section 6.3 below, defend, indemnify and hold harmless Licensee and its parent, subsidiaries and commonly owned or controlled affiliates and their respective officers, directors and employees from all damages, liabilities and expenses (including reasonable outside attorney fees), arising out of or as a result of claims by third parties ( “Claims”) relating to any actual or alleged breach by PortForLio of its warranties set forth in Section 5.1(ii)-(iv) above. PortForLio shall have no obligation under this Section 6.1 for any Claims that arise out of or are a result of: (i) Licensee’s modification, overlay or re-focusing of the Licensed Material, where the Claim would not have arisen but for the modification, overlay or re-focusing made by Licensee; (ii) the context in which Licensed Material is used in a Licensee Work; where the Claim would not have arisen but for such context; (iii) Licensee’s failure to comply with the terms of this Agreement; or (iv) Licensee's continued use of Licensed Material following notice from PortForLio, or upon Licensee's knowledge, that Licensed Material is subject to a claim of infringement of another's right. The foregoing states PortForLio' entire indemnification obligation under this Agreement.
6.2 Licensee shall, subject to the terms of Section 6.3 below, defend, indemnify and hold harmless PortForLio and its parent, subsidiaries, commonly owned or controlled affiliates, and content providers and their respective officers, directors and employees from all damages, liabilities and expenses (including reasonable outside attorneys' fees), arising out of or as a result of claims by third parties relating to: (i) Licensee's use of any Licensed Material outside the scope of this Agreement; (ii) any other actual or alleged breach by Licensee of this Agreement; or (iii) Licensee's failure to obtain any required release.
6.3 The party seeking indemnification pursuant to this Section 6 shall promptly notify the other party of such claim. At indemnifying party's option, indemnifying party may assume the handling, settlement or defense of any claim or litigation, in which event indemnified party shall cooperate in the defense of any such claim or litigation as may be reasonably requested by indemnifying party. Indemnified party shall have the right to participate in such litigation, at its expense, through counsel selected by indemnified party. Indemnifying party will not be liable for legal fees and other costs incurred prior to the other party giving notice of the claim for which indemnity is sought.
Licensee should examine all Licensed Material for possible defects (whether digital or otherwise) before sending any Licensed Material for Reproduction. Without prejudice to Section 5.1(i) above, PortForLio shall not be liable for any loss or damage suffered by Licensee or any third party, whether directly or indirectly, arising from any alleged or actual defect in any Licensed Material or its caption or in any way from its Reproduction.
If Licensee or Purchaser requests in writing to cancel this Agreement within 30 days of the date of receipt by Licensee or Purchaser of the Licensed Material, and such Licensed Material has not been used by Licensee, PortForLio may cancel this Agreement and issue a credit to Licensee's or Purchaser's account or credit card as follows: (i) with respect to non-video Licensed Material only, an amount up to 100% of the License Fee may be credited if the request is received within 7 days of receipt of the Licensed Material; or (ii) an amount up to 50% of the License Fee may be credited if the request is received between 8 and 30 days of receipt of the Licensed Material (or any time within the first 30 days for video); in each case an administration fee of US$50 (or local currency variation) will be charged. No credits are available for any cancellation request received after 30 days from receipt of Licensed Material. Nothing in this Section 8 shall apply to research, lab, service, or subscription fees which shall be payable according to the terms stated on the Invoice and shall be non-refundable.
Interest on Overdue Invoices. Licensee and Purchaser agree to receive invoices from PortForLio electronically via the email address associated with Licensee’s and/or Purchaser’s PortForLio account. If Licensee fails to pay PortForLio' Invoice in full within the time specified in the Invoice, PortForLio may add a service charge of one-and-one-half percent (1.5%) per month, or such lesser amount as is allowed by law, on any unpaid balance until payment is received.
10.1 Hulton Archive. Hulton Archive Licensed Material of historical vintage often employs older photo techniques. Some of this Licensed Material contains "artefacts" or other flaws inherent in prints of the particular vintage and are not defects. If any use of Hulton Archive Licensed Material gives rise to publication rights (as defined in The Copyright and Related Rights Regulation or to any similar rights in any other country), those rights shall belong exclusively to PortForLio. Licensee shall do all such things and shall procure rights from any third parties in whom such rights may otherwise vest (including executing assignments) as are required to vest ownership of all such rights exclusively in PortForLio.
10.2 The Bridgeman Art Library. The following credit line must appear adjacent to any Bridgeman Art Library Licensed Material utilized in an editorial manner and, whenever reasonably possible, in connection with non-editorial uses: "[Title]/[artist name]/The Bridgeman Art Library/PortForLio".
10.3 National Geographic Society ("NGS"). The following credit line must appear adjacent to any NGS Licensed Material utilized in an editorial manner: "(Photographer's Name) /NATIONAL GEOGRAPHIC IMAGE COLLECTION/PortForLio". No other use of the NGS's name, logo or trademarks is permitted in association with any NGS Licensed Material utilized in an editorial manner. No use of the NGS's name, logos or trademarks (including use of a credit line) is permitted in association with any non-editorial use of the NGS Licensed Material, including, but not limited to, advertising, commercial, corporate or consumer products such as calendars, posters, prints etc. NGS Licensed Material may be cropped, but not rotated or otherwise altered. No model release or other releases exist for NGS Licensed Material unless so specified. Some NGS Licensed Material may be in the public domain, and therefore it may be possible for another library to license NGS Licensed Material represented by NGS for a conflicting use. PortForLio and NGS shall have no liability for any such situation.
10.4 Digital Globe. Digital Globe Licensed Material may not be incorporated into any type of interactive map viewer.
10.5 NBA Licensed Material. NBA IMAGERY MAY NOT BE LICENSED WITHOUT PRIOR APPROVAL. PLEASE CONTACT YOUR LOCAL PortForLio OFFICE TO OBTAIN APPROVAL.
Additional NBA Image License Terms. The following additional provisions apply to Licensees of any Licensed Material of the National Basketball Association ("NBA") or taken at NBA games. In the event that the terms of these additional provisions conflict or are otherwise inconsistent with the terms set forth elsewhere in this Agreement, the terms of these additional provisions shall govern.
Third-Party Beneficiary. Licensee agrees that (i) for licenses of NBA Licensed Material, NBA Entertainment, a division of NBA Properties, Inc., is a third-party beneficiary of this Agreement, (ii) for licenses of Women's National Basketball Association ("WNBA") Licensed Material, WNBA Enterprises, LLC is a third-party beneficiary of this Agreement and (iii) for licenses of National Basketball Developmental League Licensed Material ("NBDL"; and together with NBA and WNBA, the "NBA Parties") Licensed Material, NBDL Enterprises, LLC is a third-party beneficiary of this Agreement.
Additional Restrictions. With regard to NBA, WNBA or NBDL Licensed Material or Licensed Material taken at NBA games, no reproduction, storing, archiving, redistribution or other use of the Licensed Material may be made without separate written approval from NBA Entertainment.
Editorial Website Users. For any Licensee that is an editorial website user of NBA, WNBA or NBDL Licensed Material or Licensed Material taken at NBA games hereunder, unless otherwise agreed, Licensee shall not display or otherwise use such Licensed Material for a period longer than thirty (30) days following the date on which such Licensee is authorized to first post such Licensed Material; Licensee shall not be permitted to display or otherwise use more than thirty (30) such Licensed Material images at any one time and Licensee shall not use any such Licensed Material as part of a photo gallery or slide show.
Reproductions. NBA, WNBA and NBDL Licensed Material or Licensed Material taken at NBA games must be reproduced exactly as furnished to Licensee by PortForLio (or its designee) without alteration or cropping unless such a change has been approved in writing by PortForLio.
NBA Parties Photo Credit. The following photo credit must appear adjacent to the use of NBA, WNBA or NBDL Licensed Material or Licensed Material taken at NBA games, as the case may be: (i) for all NBA Licensed Material provided to PortForLio by any of the NBA Parties, "(c) [Year] NBA Entertainment. Photo by [Photographer's Name]/NBAE/PortForLio."; (ii) for all WNBA Licensed Material provided to PortForLio by any of the NBA Parties, "(c) [Year] WNBA Enterprises. Photo by [Photographer's Name]/WNBAE/PortForLio."; (iii) for all NBDL Licensed Material provided to PortForLio by any of the NBA Parties, "(c) [Year] NBDL Enterprises. Photo by [Photographer's Name]/NBDLE/PortForLio."; (iv) for all NBA, WNBA and NBDL Licensed Material shot by or on behalf of PortForLio, "(c) [Year] PortForLio. Photo by [Photographer's Name]/PortForLio."
Intellectual Property and Trademark. This Agreement does not grant any right to Licensee with respect to the name, likeness or other attribute of any NBA, WNBA or NBDL player or other person or entity appearing in the Licensed Material. Licensee acknowledges and agrees that it shall be solely responsible for obtaining any and all necessary licenses, releases or waivers permitting Licensee to use the name, likeness or other attribute of any such individual or entity appearing in the Licensed Material.
Intellectual Property. Subject to the terms of this Agreement, Licensee shall have the right to use the names, symbols, emblems, designs, logos, trademarks, uniforms and identifications of the NBA and its member teams, the WNBA and its teams or the NBDL and its teams, as the case may be (collectively, the "NBA Marks"), solely insofar as certain of the NBA Marks appear in the Licensed Material as properly incorporated into the approved use specification for such Licensed Material. Licensee shall make no other use of the NBA Marks for any other purpose without a separate written license agreement with the applicable NBA Party or its affiliates. Licensee acknowledges that NBA Parties and/or their affiliates own the exclusive right to license the use of the NBA Marks and that no use of the NBA Marks can be made for any reason (including in connection with the sale of a product or service) without the prior approval of the applicable NBA Party or its applicable affiliate. Licensee recognizes the value of the NBA Marks and acknowledges that the goodwill attached thereto belongs to the applicable NBA Party and/or its applicable affiliate and that the NBA Marks have secondary meaning in the mind of the public. Licensee agrees that it shall not attack the property rights of any NBA Party and/or its affiliates in and to the NBA Marks or attack the validity of this Agreement.
11.1 Unauthorized Use and Termination. Any use of Licensed Material in a manner not expressly authorized by this Agreement constitutes copyright infringement, entitling PortForLio to exercise all rights and remedies available to it under copyright laws around the world. Licensee shall be responsible for any damages resulting from any such copyright infringement, including any claims by a third party. In addition and without prejudice to PortForLio' other remedies under this Agreement, PortForLio reserves the right to charge and Licensee agrees to pay a fee equal to up to five (5) times PortForLio' standard license fee for the unauthorized use of the Licensed Material. PortForLio reserves the right to terminate this Agreement in the event Licensee: (i) enters the Agreement after having received notice of unauthorized use from PortForLio relating to the Licensed Material; (ii) provides inaccurate information regarding its proposed use of the Licensed Material at the time of entering the Agreement; (iii) fails to pay the License Fee on the due date; or (iv) otherwise breaches the terms of this Agreement. Upon termination, Licensee must immediately (I) stop using the Licensed Material; and (II) destroy or, upon the request of PortForLio, return to PortForLio the Licensed Material and, in the case of termination by PortForLio for cause, the Licensee Work in the possession or control of Licensee.
11.2 Audit/Certificate of Compliance. Upon reasonable notice, Licensee shall provide sample copies of Reproductions containing Licensed Material to PortForLio, including by providing PortForLio with free of charge access to any pay-walled or otherwise restricted access website or platform where the Licensed Material is Reproduced. In addition, upon reasonable notice, PortForLio may, at its discretion, either through its own employees or through a third party, audit Licensee's records directly related to this Agreement and use of Licensed Material in order to verify compliance with the terms of this Agreement. If any such audit reveals an underpayment by Licensee to PortForLio of five percent (5%) or more of the amount Licensee should have paid for the time period that is the subject of the audit, in addition to paying PortForLio the amount of such underpayment, Licensee shall also reimburse PortForLio for the costs of conducting such audit. Where PortForLio reasonably believes that Licensed Material is being used outside of the scope of the license granted under this Agreement, Licensee shall, at PortForLio' request, provide a certificate of compliance signed by an officer of Licensee, in a form to be approved by PortForLio.
11.3 Electronic Storage. For all Licensed Material that is delivered to Licensee in electronic form, Licensee must retain the copyright symbol, the name of PortForLio, the Licensed Material's identification number and any other information as may be embedded in the electronic file containing the original Licensed Material. Licensee may not make additional high-resolution copies of the Licensed Material and Licensee shall maintain a robust firewall to safeguard against unauthorized third-party access to the Licensed Material. Notwithstanding the foregoing, Licensee may make one (1) high-resolution backup copy of the Licensed Material for security purposes only.
11.4 Withdrawal. Upon notice from PortForLio, or upon Licensee's knowledge, that any Licensed Material may be subject to a claim of infringement of another's right for which PortForLio may be liable, PortForLio may require Licensee to immediately and at its own expense: (i) stop using the Licensed Material; (ii) delete or remove the Licensed Material from its premises, computer systems and storage (electronic or physical); and (iii) ensure that its clients do likewise. PortForLio shall provide Licensee with comparable Licensed Material (which comparability will be determined by PortForLio in its reasonable commercial judgment) free of charge, but subject to the other terms and conditions of this Agreement.
11.5 Governing Law/Arbitration. This Agreement will be governed in all respects by the laws of the State of New York, U.S.A., without reference to its laws relating to conflicts of law. Any disputes arising from or related to this Agreement or its enforceability, or the business relationship between the parties, shall be finally settled by binding, confidential arbitration by a single arbitrator selected using the rules and procedures for arbitrator selection under the Commercial Rules of the American Arbitration Association ("AAA") or of the International Centre for Dispute Resolution ("ICDR") in effect on the date of the commencement of the arbitration (the applicable rules to be at Licensor's discretion), to be held in one of the following jurisdictions (whichever is closest to Licensee): New York, New York; Los Angeles, California; or Seoul, Korea. The arbitration proceedings shall be conducted in English and all documentation shall be presented and filed in English. The decision of the arbitrator shall be final and binding on the parties, and judgment may be entered on the arbitration award and enforced by any court of competent jurisdiction. The prevailing party shall be entitled to recover its reasonable legal costs relating to the aspect of its claim or defense on which it prevails, and any opposing costs awards shall be offset. The United Nations Convention on Contracts for the International Sale of Goods does not govern this Agreement. Notwithstanding the foregoing, PortForLio shall have the right to commence and prosecute any legal or equitable action or proceeding before any court of competent jurisdiction to obtain injunctive or other relief against Licensee in the event that, in the opinion of PortForLio, such action is necessary or desirable. The parties agree that, notwithstanding any otherwise applicable statute(s) of limitations, any arbitration proceeding shall be commenced within two years of the acts, events, or occurrences giving rise to the claim.
11.6 Severability. If one or more of the provisions contained in the Agreement is found to be invalid, illegal or unenforceable in any respect, the validity, legality and enforceability of the remaining provisions shall not be affected. Such provisions shall be revised only to the extent necessary to make them enforceable.
11.7 Waiver. No action of either party, other than express written waiver, may be construed as a waiver of any provision of this Agreement. A delay on the part of either party in the exercise of its rights or remedies will not operate as a waiver of such rights or remedies, and a single or partial exercise by either party of any such rights or remedies will not preclude other or further exercise of that right or remedy. A waiver of a right or remedy on any one occasion will not be construed as a bar to or waiver of rights or remedies on any other occasion.
11.8 Entire Agreement. This Agreement is intended for business customers of PortForLio and contains all the terms of the license agreement. No terms or conditions may be added or deleted unless made in writing and either accepted in writing by an authorized representative of both parties or issued electronically by PortForLio and accepted in writing by an authorized representative of Licensee. In the event of any inconsistency between the terms contained herein and the terms contained on any purchase order sent by Licensee, the terms of this Agreement shall govern.
11.9 Taxes. All License Fees are exclusive of any applicable sales, use, withholding or other transactional taxes, which are the sole responsibility of Licensee or Purchaser (if any).
11.10 PortForLio Licensing Company. The licensing entity under this Agreement shall be determined by the billing address of the Licensee or, if any, Purchaser, as follows: LICENSEE/PURCHASER LOCATION: PortForLio LICENSOR (LOCATION):
Asia & Pacific Rim
United States & North America
©2013 PortForLio. All rights reserved.
THIS IS A LEGAL AGREEMENT WHICH RELATES TO LICENSES ISSUED THROUGH THE WEB AND/OR LOCAL SALES REPRESENTATIVES, AND IS APPLICABLE TO ONLINE, DIGITAL AND ANALOG/PHYSICAL USE/TRANSMISSION OF LICENSED MATERIAL. BY PLACING AN ORDER A LICENSE, THE LICENSEE AND, IF APPLICABLE, THE PURCHASER, IS CONFIRMING THAT THIS AGREEMENT GOVERNS THE PARTIES’ CONTRACTUAL RELATIONSHIP UNDER APPLICABLE LOCAL LAWS.