The Race Team represents to the Sponsor that the Sponsor’s total obligation will not exceed the amount of the sponsorship fee set in Section 2, and, if applicable, collection costs that the Racing Team may reasonably incur in a legal proceeding to collect all or part of the maximum obligation.
The Race Team will indemnify, defend and hold the Sponsor and its counterparts (list counterparts, i.e., employees, directors, independent contractors) harmless from and against all actions, suits, proceedings, judgments, demands, claims, liabilities, losses, or expenses incurred in connection with or ensuing from the race car and activities or omissions of the driver or team members or of the Race Team including, without limitation:
Any claim that falls within the insurance coverage;
Any breaches, misrepresentation, or non-performance by the Race Team;
Any claim or action for or relating to personal loss, injury, death, property damage, or otherwise, suffered by participants, team members, audience members (list any other parties) at any event related to the race cars;
Any amount owed by the Race Team related to the race cars.
This Agreement shall be governed by, construed, and enforced in accordance with the laws of the State of [Sender.State].
The Race Team hereby grants the Sponsor the right to receive the benefits, and retains all other rights with respect to the Racing Team, including but not limited to logos, symbols, and intellectual property of the Racing Team, and any amounts earned by the Racing Team.
The Sponsor hereby retains and does not grant any rights to the Race Team to use any of its logos or intellectual property, except for use as outlined in Section 4.
If this Agreement is terminated or if the sponsorship terminates at the end of the term provided in section 1, the Race Team and the Sponsor shall immediately cease to use each other's names, logos, or intellectual property.