APPLICATION TO REGISTER AN ORDINARY SYNDICATE (OTHER THAN A COMPANY FIRM OR STUD)

Transcription

1 APPLICATION TO REGISTER AN ORDINARY SYNDICATE (OTHER THAN A COMPANY FIRM OR STUD) S FEE $250 The persons whose names appear overleaf apply for approval to race horses under the Rules of Racing as a Syndicate under the name (order of preference): The following members of the Syndicate have been appointed as its Representatives, of which the first named is deemed to be the Manager. Manager Representative Representative 1... Signature... Witness... date Signature... Witness... date Signature... Witness... date... Representative 4... Signature... Witness... date... Details of any other application for, or registration of, this Syndicate with any other Principal Racing Authority... Address of Syndicate...Phone...Fax NAME OF HORSE DAM YEAR / / The Purchase Price paid by the Syndicators for the above horse(s) was The Purchase Price paid by the Syndicate for the above horse(s) was $ (not applicable if leased) $ (not applicable if leased) The combined interest of Members in the Syndicate shall be divided into equal shares The Shares shall cost $ each on the / / (date of this agreement) The Monthly Fees shall be $ for each share subject and the Manager shall pay all the Syndicate expenses and be paid an amount not to exceed $ each calendar month subject to clauses 3(a) (b) and (c) of the Standard Syndicate Terms and Conditions. Please circle: Bankcard Visa Mastercard Card Number / / / Expiry Date / Amount $ Cardholder s Name: Signature of Cardholder: PLEASE RETURN TO THE BELOW ADDRESS: Level 7, 51 Druitt St, Sydney NSW 2000 Ph: (02) Fax: (02) syndicates@racingnsw.com.au Website: MAKE CHEQUES PAYABLE TO RACING NSW Cash / Cheque / Money Order / Credit Card Date Received: Date Processed: Registration Officer:

2 MEMBERS OF SYNDICATE REGISTERED AS THE... SYNDICATE By signing this Application you are acknowledging you have read and understand both the Standard Syndicate Agreement and the Rules of Racing. Please ensure you have read the Personal Information and Privacy Statement prior to signing this form. SYNDICATE MANAGER DETAILS: (maximum 20 members including the manager and representatives) S MEMBER DETAILS: MEMBER DETAILS:

3 MEMBERS OF SYNDICATE REGISTERED AS THE... SYNDICATE By signing this Application you are acknowledging you have read and understand the Standard Syndicate Terms and Conditions and are bound by the Australian Rules of Racing. Please ensure you have read the Personal Information and Privacy Statement prior to signing this form. MEMBER DETAILS: (maximum 20 members including the manager and representatives) S

4 STANDARD SYNDICATE TERMS AND CONDITIONS The Pr incip al Racing Aut horit y accep t s no r esp onsib ilit y f or any p r ob lem s t hat m ay ar ise out of t he w ay Synd icat es ar e m anaged or op er at ed. Accord ingly if any Synd icat e Mem b er f eels aggr ieved b y t he m anagem ent or cond uct of a p ar t icular Synd icat e he or she m ust b e p r ep ar ed t o resolve t he m at t er p r ivat ely or t ake such legal st ep s as his or her p r ivat e legal ad visors m ay ad v ise. In t his r egar d t he at t ent ion of Synd icat e Mem b er s is d r aw n t o t he f ollow ing Rule of Racing: 69M.The Pr incip al Racing Aut horit y shall not have any r esp onsib ilit y f or t he d ue ob ser vance b y t he p er sons concer ned of any Synd icat e agr eem ent or any ot her in st r um ent relat ing t o a Synd icat e or f or t he p erf orm ance of any legal or eq uit ab le ob ligat ions of any m em b er s of a Synd icat e. 1. Def in it ion s: (a) Th e Synd icat e m ean s t he Syn d icat e as d ef in ed b y t h e Aust r alian Rules of Racin g an d all t h e m em b ers t h er eof (h er eaf t er r ef err ed t o as Mem b er s ). (b ) Th e Pr in cip al Racin g Aut h o rit y m ean s any Prin cip al Racing Aut h or it y as d ef in ed b y t he Aust r alian Rules o f Racin g. (c) Th e Synd icat e s Ho rse(s) m ean s t h e h or se(s) r egist er ed as o r t o b e regist er ed b y t he Syn d icat e. (d ) Th e Man ager m ean s t h e p er son r eq uir ed un d er t h e Rules of Racin g t o act f o r an d r ep r esent t h e Syn d icat e in all r esp ect s. (e) Mo n t h ly Fees m ean s t h e Calen d ar Mon t h ly exp en ses p ayab le in r esp ect o f t h e Syn d icat e sh ar es h eld an d p ayab le on acco un t of an d in clud in g b r eakin g in, st ab lin g, t r ainin g, r acin g, f lo at ing an d o t her t r an sp o rt at io n, sp ellin g, agist m ent, in sur an ce, vet er in ar y ser vices, Jo ckeys f ees (o t her t h an Pr ize m o ney p er cen t ages), gear, co lo ur s, b ullet in s an d o t h er co m m un icat ion s, callin g o f Meet in gs, st am p d ut ies, p o st age, m an agem en t, p r in t in g of acco un t s, and all o t h er co st s asso ciat ed w it h t h e Syn d icat e. (f ) Or d in ar y Reso lut ion m ean s (i) A r eso lut ion p assed b y Mem b er s h o ld in g a m ajo rit y of sh ares at a d uly co nven ed m eet ing or (ii) A r eso lut ion co nt ained in a let t er p r esen t ed t o t h e Pr in cip al Racin g Aut h or it y sign ed b y Mem b ers h o ld in g a m ajo r it y of sh ar es. (g) Sh ar es m ean s t h e sh ar es in t h e Syn d icat e. (h ) Sp ecial Reso lut io n m ean s (i) A r eso lut ion p assed b y Mem b er s h o ld in g in aggr egat e at least seven t y f ive p er cen t (75%) o f Sh ares at a d uly co nven ed m eet in g or (ii) A r eso lut ion co nt ained in a let t er p r esen t ed t o t h e Pr in cip al Racin g Aut h or it y sign ed b y Mem b ers h o ld in g in aggr egat e at least seven t y f ive p er cen t (75%) of t h e Sh ar es. (i) Duly Servin g m ean s eit her d eliver in g p er son ally t o t he p er son co n cer ned o r send in g it b y p rep aid p ost t o t h e p erso n t o b e ser ved at t h e ad d ress show n in t he Regist er m aint ained b y t h e Man ager. 2. (a) Th e ap p licat ion t o r egist er t he Syn d icat e sh all b e sub m it t ed b y t h e Man ager f o r ap p ro val an d d ue r egist r at io n b y t he Pr in cip al Racin g Aut h or it y an d t h ereaf t er t h e Man ager sh all f o rw ar d t o t h e Mem b er s a co p y of t h is Agr eem en t. (b ) No Disq ualif ied Per son (w it h in t h e m ean in g of t h at t er m as p ro vid ed in t h e Rules of Racin g) sh all b e eligib le t o b ecom e o r to co n t in ue as a Mem b er of t h e Syn d icat e. 3. (a) Th e Mon t h ly Fees f or each Shar e sh all b eco m e d ue an d p ayab le t o t h e Man ager b y each o f t h e Mem b er s on t h e f ir st d ay o f EACH and every MONTH d ur in g t h e cur r en cy of t h e Syn d icat e. Fo r t h e p ur p o ses of t h is Agr eem en t a b an k acco un t sh all b e est ab lished an d o p er at ed b y t h e Man ager in t he Synd icat e s n am e, t o get h er w it h such o t her sign at o r ies as ar e f ro m t im e t o t im e d ecid ed b y Or d in ar y Reso lut ion. (b ) Fr o m t h e Mon t h ly Fees t h e Man ager sh all p ay all of t h e Synd icat e exp en ses in clud in g p aym en t t o t h e Man ager f or h is ser vices t o t h e Syn d icat e o f an am o un t agr eed up o n b y t he synd icat e m em b er s each calen d ar m o nt h. (c) Th e Mon t h ly Fees m ay b e var ied b y t h e Man ager b y Duly Ser vin g no t ice in w rit in g on t h e Mem b ers sp ecif yin g t h e r easo n f o r an d t he n at ur e o f t he var iat ion s. 4. (a) Th e Man ager f o r t h e t im e b ein g sh all b e t he m em b er f ir st n o m in at ed o n t h e Syn d icat e Ap p licat io n f o r m. (b ) Sub ject t o Clause 4(c) and any Or d in ary or Sp ecial Reso lut ion s w hich ar e no t in co n sist en t w it h t his Agr eem en t an d t h e Rules o f Racin g, t h e Man ager h as co m p let e p o w er t o m an age t h e Syn d icat e s Ho rse(s) on b eh alf o f t h e Synd icat e. (c) Th e Synd icat e sh all f r o m t im e t o t im e b y Or d in ar y Reso lut io n d et er m in e if an d w h en t h e Syn d icat e s Hor se(s) (o r any p r o gen y) sh all co m m en ce t h eir r acin g car eer, r et ir e f o r b r eed in g o r st ud d ut ies, b e geld ed, o r so ld o r ch an ge t r ainer. (d ) Wit ho ut lim it in g t h e gen er alit y o f Clause 4(b ) t h e Man ager s d ut ies in clud e (1) Th e keep in g o f a Regist er no t in g: (i) Th e n am es an d ad d r esses of t h e Mem b ers an d t h e n um b er of sh ar es held b y each, and (ii) Dat es of en t r ies in t h e Regist er. (2) Keep in g t h e acco un t s of t h e Syn d icat e and if req uest ed b y t h e m em b er s, send a co p y t h er eof t o t h e Mem b ers every THREE Mon t h s. (3) En surin g t h at all f ees ow in g b y t h e Mem b er s are p aid and t h at at all t im es t h e Mem b ers ar e f in an cial. (4) In sur in g an d keep in g in sur ed t h e Syn d icat e s Ho r se(s) t o p ro t ect t h e b est int er est s o f t he Mem b er s. (5) Pr ep ar at ion and d ist rib ut io n o f m on t h ly b ullet in s. (6) Co m p let in g an d lo d gin g w it h t h e Pr in cip al Racin g Aut ho rit y in t h e f o r m f ro m t im e t o t im e p r escr ib ed t h e p ar t icular s o f such

5 ad d it io n al h or se acq uir ed b y t h e Syn d icat e im m ed iat ely af t er each ad d it ion al h or se is acq uir ed, t o get her w it h t h e p r escrib ed f ee. (7) No t if yin g t h e Pr in cip al Racing Aut h or it y in w r it in g o f every ch an ge in t he m em b er sh ip o f a Syn d icat e (in clud in g a d eat h of a Mem b er ), every ch an ge in t he p er cen t age of a Mem b er s in t er est in t he Synd icat e, and every ch an ge in t h e Mem b er s r egist er ed ad d r ess, w it h in f o ur t een d ays of t h e ch an ge. (8) En surin g t h at any n ew Mem b er jo in in g t h e Synd icat e sh all execut e a St and ar d Syn d icat e Agr eem en t an d f orw ar d it t o t h e Pr in cip al Racin g Aut h or it y con cern ed t o get h er w it h t h e p r escr ib ed f ee. (9) Pun ct ual co m p lian ce in all r esp ect s w it h t h e req uir em en t s o f t h e Prin cip al Racin g Aut hor it y f r o m t im e t o t im e in f o r ce r elat in g t o synd icat ed h o rses. (10) En surin g t h at at all t im es t h e synd icat e is f ully sub scr ib ed. (11) En surin g t h at t he Synd icat e s h or se(s) r em ain in t h e St at e in w hich t he Synd icat e w as r egist er ed un less t h e m em b er s of t h e Syn d icat e so d ecid e b y an Ord in ary Reso lut io n. (e) Th e Man ager m ay r et ir e t hir t y (30) d ays af t er Duly Ser vin g t h e Mem b ers w it h a n ot ice of his in t en t ion so t o d o an d he m ay b e r em oved b y Or d in ary Reso lut io n. (f ) Up o n r et ir em en t o r r em oval o f t h e Man ager, t h e p er so n nam ed af t er t h e n am e of t h e Man ager on t h e Cert if i cat e of Regist r at ion o f t h e f irst h or se r egist er ed b y t h e Syn d icat e sh all b e t h e n ew Man ager of t h e Syn d icat e un less t h e Mem b ers b y Ord inar y Reso lut io n ap p o in t an ot h er on e of t h eir n um b er t o b e t h e Man ager. Th e Synd icat e sh all im m ed iat ely no t if y t h e Pr in cip al Racing Aut h or it y up o n t he r esign at ion o r r em oval of t h e Man ager o r t h e ap p oint m ent of a n ew Man ager. 5. (a) All p r ize m on eys r eceived b y t h e Syn d icat e sh all b e d ist r ib ut ed b y t h e Man ager o n a m o n t h ly b asis t o t h e Mem b ers PRO- RATA t o t h e n um b er of Sh ar es held b y each o f t h em PROVIDED THAT t h e Man ager m ay set o f f again st any Mem b er s ent it lem en t an y am o un t s t hen o ut st an d in g b y t h at Mem b er on acco un t of Mo nt h ly Fees. 6. Th e Synd icat e s Ho rse(s) sh all b e availab le f or in sp ect io n at all r easo n ab le t im es af t er arran gem en t s f o r any such in sp ect ion h ave b een m ad e b y t h e Mem b er w it h t h e Man ager. 7. Th e Man ager sh all acq uir e f r om t h e r elevan t Racin g Club such en clo sur e p asses as m ay b e availab le f o r any r ace m eet in g at w hich t he Syn d icat e s Hor se(s) is en gaged an d such p asses sh all b e issued on a ro t at ion al b asis t o an y Mem b er w ho m ay req uir e t h em. 8. Sh ar es m ay b e of f er ed f or sale d ur in g t h e cur ren cy o f t he Syn d icat e p rovid ed t h at t h e r em ainin g Mem b ers sh all h ave t he f ir st o p t io n t o p ur ch ase t h em. In t h e even t t h at t h e Man ager d isp oses of such Sh ar es f o r a Mem b er a co m m issio n o f no t m o re t h an 8% m ay b e d ue an d p ayab le t o t h e Man ager t h er ef or e. 9. (a) Th e Man ager m ay at an y t im e call a m eet in g of Mem b er s. (b ) Th e Man ager sh all call a m eet in g of Mem b ers w it h in f o ur t een (14) d ays o f r eceivin g a req uisit ion in w rit in g sign ed b y Mem b er s h o ld in g in t h e aggr egat e at least t w en t y -f ive (25%) of t h e t o t al n um b er o f Sh ar es. (c) A Mem b er s req uisit io n m ust st at e clear ly t h e o b ject ives of t h e m eet in g an d t h e t erm s o f an y r eso lut io n p r op o sed t o b e sub m it t ed t o t h e m eet in g. (d ) Th e Man ager sh all call m eet ings b y Duly Servin g Mem b er s w it h a cir cular givin g f o ur t een (14) d ays clear n o t ice o f t he m eet in g an d sp ecif yin g: (i) t h e t im e an d p lace of t h e m eet in g (ii) t h e o b ject ives of t h e m eet ing an d t h e t er m s of an y r eso lut ion p r o p o sed t o b e sub m it t ed t o t h e m eet in g, an d (iii) a st at em en t t h at p o st al vo t es f or any r eso lut ion w ill b e accep t ed an d t h at Mem b er s m ay ap p o in t a p ro xy t o at t en d in t h eir st ead. (e) Th e q uor um f o r m eet in gs shall b e Mem b ers w ho h o ld in t h e aggr egat e at least t w en t y -f ive p er cen t (25%) o f t he Sh ar es, p r esen t p er so n ally o r b y p ro xy. (f ) Each Sh ar e sh all car r y t h e righ t t o o ne vo t e. (g) An y Mem b er m ay at o r af t er a m eet in g in sp ect all d ocum en t s r elat in g t o t he givin g of vo t es on any m at t er d et er m ined at t h at m eet in g. 10. In t h e event t h at an y Mem b er f ails t o p ay t h e Mo n t h ly Fees p ayab le b y him h er eun d er w it h in o n e m on t h af t er b eing Duly Ser ved w it h a w r it t en n o t ice d em and in g p aym en t t h e Man ager sh all cause t he d ef ault in g Mem b er Sh are(s) in t h e Syn d icat e t o b e d e -r egist er ed an d such sh ar eh o ld in g sh all t h en b e of f er ed f o r sale. Any m o neys r em ain in g af t er set t lem en t of t h e am o un t s d ue b y t he d ef ault in g Mem b er sh all b eco m e d ue an d p ayab le t o t h e d ef ault in g Mem b er an d such Mem b er sh all d o all t hin gs n ecessary t o give ef f ect t o t h is clause. 11. Sh ar es m ay b e h eld in m or e t h an o ne n am e and w ill b e r egist er ed w it h t h e Man ager acco r d in gly. How ever, t h is Agreem ent m ust b e execut ed b y each o f t h e jo in t o w n ers. 12. Th e t er m s an d con d it ion s o f t h is Agr eem ent m ay on ly b e am en d ed b y Sp ecial Reso lut io n.

6 13. Th e Mem b er s ho ld t h eir r esp ect ive sh ar es in t h e Syn d icat e as b en ef icial ow n er s an d t en an t s in co m m on o f t he Synd icat e s Ho r se(s) an d all ot h er asset s of t h e Syn d icat e. 14. (a) Ever y Synd icat e sh all b e t erm in at ed if : (i) t h e Syn d icat e s ho r se(s) h as b een so ld o r o t h erw ise d isp osed o f on b eh alf o f t he Synd icat e or h as d ied, o r (ii) t h e Syn d icat e so r eso lves b y Sp ecial Reso lut io n. (b ) Up o n t erm in at ion o f t he Synd icat e t h e Man ager sh all sell o r o t herw ise co nver t t h e asset s o f t h e Synd icat e in t o cash an d d ivid e t h e p r o ceed s (less all p ro p er co st s an d o ut goin gs an d any p rovision f o r liab ilit ies) am on g t h e Mem b er s in p ro p o r t ion t o t h e n um b er of Sh ar es held b y t h em r esp ect ively, af t er d ed uct in g f r o m a Mem b er s Sh are of t h ese p r oceed s an y Mon t h ly Fees t h en d ue b ut un p aid b y t h at Mem b er, an d t h e Synd icat e s r egist r at io n w it h t h e Pr in cip al Racin g Aut h or it y shall b e can celled. 15. Th e Man ager m ay ap p o int at an y t im e up t o t h r ee Mem b er s w ho in ad d it ion t o h im self sh all b e r egist er ed o n t he Cert if icat e o f Regist r at ion o f t h e Syn d icat e (such p erson s t o b e kno w n as Syn d icat e Rep r esent at ives). Th e f irst n am ed p erson o n t h e Cer t if icat e of Regist r at ion o f t he Syn d icat e sh all b e t h e Man ager. Th e Syn d icat e Rep r esen t at ives sh all act in acco r d an ce w it h all Or d in ary an d Sp ecial Reso lut io n s o f t h e Mem b er s w h ich are no t incon sist ent w it h t h is Agr eem ent an d t h e Rules o f Racin g. 16. (a) A Syn d icat e Rep resen t at ive m ay r esign t hir t y (30) d ays af t er Duly Servin g t h e Mem b ers w it h a n o t ice o f his in t en t ion so t o d o an d h e m ay b e r em oved b y Or d in ary Reso lut io n. (b ) Up o n r esign at ion or r em oval o f o ne o r m o r e of t h e Syn d icat e Rep r esen t at ives, t h e Synd icat e Mem b ers m ay b y Or d in ar y Reso lut io n ap p oint one o r m or e o f t heir n um b er t o b e Syn d icat e Rep r esent at ive/s. The Synd icat e sh all im m ed iat ely no t if y t h e Pr in cip al Racin g Aut h or it y o f t he r esign at ion, r em o val o r ap p oin t m en t of a Syn d icat e Rep r esen t at ive. 17. Th e Mem b er s h er eb y in d em nif y t h e Man ager and t h e Syn d icat e Rep r esent at ives in t heir cap acit y as Man ager an d Synd icat e Rep r esen t at ives f or all p aym en t s r eq uir ed in r esp ect of t h e f ees and exp en ses asso ciat ed w it h any Synd icat e Ho r ses. APPOINTMENT OF REPRESENTATIVE (OR RACING MANAGER) AR 1. Manager means the first-named person in the Certificate of Registration, Document of Description of Transfer or Lease (if leased) of a horse or if the horse is owned or leased by a Syndicate, the person first-named in the Certificate of Registration of the Syndicate, subject always to the provisions of AR 57 (1). If the horse is owned or leased by more than one Syndicate, the first-named person appearing in the Certificate of Registration of the first-named Syndicate shall be deemed to be the Manager. AR 57. (1) The Manager may be removed or replaced by a memorandum signed by the joint owners or lessees or Syndicate members representing a majority interest in the horse. (2) The Manager of a horse shall, alone of the joint owners,

7 lessees or Syndicate members be entitled to: (a) enter, nominate, accept or scratch such horse for any race: (b) engage a jockey to ride such horse for any race; (c) received any prizemoney or trophy won by such horse; or (d) act for and represent the joint owners, lessees or Syndicate members in relation to the horse in all respects for the purpose of these Rules. (3) The entry or nomination of every such horse for any race shall state thereon the name of the Manager. (4) The trainer of any such horse who enters, nominates, accepts or scratches such horse shall be deemed to have done so with the authority of the Manager and all the other nominators. PERSONAL INFORMATION To assist in making ownership determinations, the Registrar must assess the fitness and propriety of each applicant. This assessment requires the collection of sensitive information. In order to protect each individual s privacy certain necessary information has not been requested on the application form, however, all applicants must read the following questions. 1 In the past 10 years, have you been convicted of, or is there a pending charge against you, for any offence involving: (a) Violence against a person; or (b) Dishonest or criminal activity 2 Have you ever been convicted under the Australian Rules of Racing or rules of any Principal Racing Authority? If any applicant should answer yes to any of these questions, the applicant must notify the Registrar in writing prior to the lodgment of the application. Such notification must include full details of the conduct in question. The Registrar will advise in writing within seven days of having received such notification. That advice should be retained by the applicant as evidence that the appropriate notification has been made. You are advised that should it be established that an individual has neglected or failed to truthfully respond to questions 1(a), 1(b), or 2, this application and any other application concerning the individual may be refused or cancelled at any time. If the notification has previously been advised to the Registrar, there is no need to do so again unless subsequent charges or convictions have been recorded against you since you submitted said notification to the Registrar. A Principal Racing Authority or the Stewards may punish any person who makes any false or misleading statement or declaration in respect of any matter in connection with the administration or control of racing under AR175(gg). Inaccuracies or omissions may also lead to penalties and refusal or cancellation of the Registration of this horse (AR17) PRIVACY Your Personal Information The personal information collected on this form which is required to complete your application includes your name, birth date, address, contact details, , mobile GST status, and bank account details. This information is required to: identify you assess your eligibility as an owner facilitate the administration of racing communicate with you enable payment of prize money Where information is not provided your application may be refused or delayed until the required information is provided. How your personal information is used The information collected about you will be shared with the PRA in each state and territory of Australia in order to: enable PRAs to fulfill their regulatory responsibilities promote and protect the integrity of the sport to ensure compliance with the Rules of Racing communicate with you including for promotional, marketing and publicity purposes Personal information may be disclosed to third parties such as government enforcement agencies, appeal bodies, race clubs, the Australian Stud Book, wagering service providers, international racing bodies, industry associations such as Breeders, Trainers and Owners Associations or other authorities as required, but only for one or more of the purposes described above or if RISA believes that the disclosure is reasonably necessary for law enforcement either by or on behalf of an enforcement body or the disclosure is authorised or required by law. Names of horse owners are publicly available on certain websites and may also appear in race field lists, race books, form guides and similar publications where appropriate. ASSIGNMENT AND LICENCE Due to the essential role that RISA plays in administering, promoting and reporting on thoroughbred horse racing, as well as providing racing materials, RISA must be able freely to use all intellectual property rights (including but not limited to copyright) that may subsist in the name, image, jockey silks and other indicia associated with this horse. In order to allow RISA to use these intellectual property rights without impediment, as a condition of the horse s registration, you agree that RISA owns all right, title or interest (including but not limited to copyright, goodwill and reputation) in the name, image, jockey silks or other indicia associated with that horse, whether existing before or after you

8 sign this form. To the extent that you own any such intellectual property rights by force of law, you must assign them to RISA. You must also undertake to RISA that you will not apply to register as a trademark any such indicia or do anything that will or may adversely affect or otherwise limit the ability of RISA, the principal racing authorities or race clubs to administer, promote or report on thoroughbred racing (or authorise any other person to do so). You may request permission from RISA to register a trade mark associated with the horse, and RISA may accept or reject your request in its absolute discretion and subject to any conditions it deems necessary or desirable. In exchange for the agreement, assignment and undertakings, upon registration of the horse RISA will grant to you a nonexclusive, royalty-free and non-transferable licence to (a) use the name, image, jockey silks and other indicia associated with the horse where RISA owns the intellectual property in such indicia for any purpose related to racing, training, promoting and otherwise dealing with the horse, including merchandising; and (b) sub-license the same to any other person