APPENDIX 2 - Euroleague Basketball

CLAUSES
1. The Club agrees and commits itself to fulfil each and every rule
appearing in the Euroleague Bylaws and any subsequent modifications,
amendments and appendices thereto.
2. With the aim that the rights and obligations under this Licence Contract
are effective, the Club is obliged to submit no later than 15 July of the
current year the irrevocable first demand bank guarantee under the
terms established in Article 11.6 of the Euroleague Club Licensing
Rules and according to the model included in the relevant Appendix of
the aforementioned Licensing Rules. Failure to provide the required
bank guarantee within this deadline will result for the Club in the
forfeiture of the licence and in the loss of any and all rights recognised
herein (including but not limited to the right to compete in the
Euroleague).
3. On condition that all Club’s obligations are fulfilled, EP grants the Club
the licence to participate for one season with its highest level team in
the Euroleague, as described in the Euroleague Club Licensing Rules,
and any subsequent modifications, amendments and appendices
thereto.
4. The Club commits itself to participate in the Euroleague, and in the
Eurocup when appropriate, in full compliance with the rules,
regulations, agreements and resolutions of the management bodies of
EP, Euroleague Commercial Assets S.A. (hereinafter referred to as
“ECA”) and the company that may be constituted by ECA, or entrusted
by ECA with the task, to deal with the organisation and administration
of the Euroleague (hereinafter the “Company”). In consideration of
this, the Club will be entitled to all the rights derived from those rules,
regulations, agreements and resolutions.
5. The Club commits itself to sign all the necessary documents required
for the effective commercialisation of the audiovisual rights related to
the Euroleague or any other competitions organised by EP or by any of
its successors or assignees.
6. The Club commits itself to subscribe for and purchase 40 (forty) ECA
shares.
The Club commits itself, in its capacity as an ECA shareholder, to
respect all shareholders’ agreements and resolutions and to sign with
the utmost care and promptness all the necessary documents required
for the smooth and effective administration and organisation of ECA
and the Euroleague (including but not limited to powers of attorney,
minutes of shareholders meetings, and other corporate documents) in
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