For the avoidance of doubt, no rights are being granted hereunder to any intellectual property belonging to the NBA or its member clubs (including but not limited to the Miami Heat). Subject to Section 14A, Naked will retain all ownership of the Intellectual Property Rights in connection with the Naked Products, the Naked brand and any and all related brands. All advertising material produced hereunder will be and remain the absolute property of Naked. Wade acknowledges that he does not now have and in the future will assert no right, title or interest of any kind or nature whatsoever therein, or in or to any component part or tape, dub or copy or element or character or characterization thereof. 10 Source: NAKED BRAND GROUP INC., POS AM (on S-1), 7/31/2015 Confidential Information has been omitted in places marked "[***]" and has been filed separately with the Securities and Exchange Commission. Confidential Treatment has been requested with respect to this omitted information pursuant to an application for confidential treatment filed with the Commission under Rule 406 under the Securities Act of 1934, as amended. 15. Representations and Warranties of Naked and Wade. A. Wade relies upon Naked's skill and judgment and also upon the following representations of Naked which shall be in effect throughout the term of this Agreement: (1) Naked's products will be merchantable and fit for the purpose for which they are intended, and (2) Naked's products will conform at all times to all applicable federal, state and local laws, rules, regulations, ordinances, and other enactments and industry standards, including, but not limited to, those relating to product safety. B. Wade Enterprises and Athlete hereby jointly and severally represent to Naked the following: (1) Authorization. Wade Enterprises is an entity duly organized and validly existing in good standing under