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TOP ON INTL. GROUP LTD. v. ICONIX BRAND GROUP, INC.

652238/17. 8506A. 8506.

169 A.D.3d 583 (2019)

95 N.Y.S.3d 154

2019 NY Slip Op 01354

Top On International Group Limited, Appellant, v. Iconix Brand Group, Inc., et al., Respondents.

Appellate Division of the Supreme Court of New York, First Department.

Decided February 26, 2019.

In a letter agreement entered into between plaintiff and defendant Iconix Brand Group, Inc., and acknowledged and agreed to by defendant Icon DE Holdings, LLC and nonparty Apex Brands International, plaintiff agreed to provide security for Apex's obligations to pay minimum royalties of $9 million per year under a separate license agreement with Icon DE. The letter agreement provided that, if the license agreement were terminated...

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