Exhibit 8(b)
LICENSE AGREEMENT RELATING TO USE OF NAME
AGREEMENT made as of the 10th day of February, 1992, between XXXXXXX XXXXX
& CO., INC., a Delaware corporation ("ML&Co."), and SCI/TECH HOLDINGS, INC., a
Maryland corporation which will soon be renamed XXXXXXX XXXXX HEALTHCARE FUND,
INC. (the "Fund");
W I T N E S S E T H :
WHEREAS, ML&Co. was incorporated under the laws of the State of Delaware
on March 27, 1973 under the corporate name "Xxxxxxx Xxxxx & Co., Inc." and has
used such name at all times thereafter;
WHEREAS, ML&Co. was duly qualified as a foreign corporation under the laws
of the State of New York on April 25, 1973 and has remained so qualified at all
times thereafter;
WHEREAS, the Fund was incorporated under the laws of the State of Maryland
on October 29, 1982; and
WHEREAS, the Fund desires to qualify as a foreign corporation under the
laws of the State of New York as the Fund is proposed to be renamed and has
requested ML&Co. to give its consent to the use of the name "Xxxxxxx Xxxxx" in
the Fund's corporate name.
NOW, THEREFORE, in consideration of the premises and or the covenants
hereinafter contained, ML&Co. and the Fund hereby agree as follows:
I. ML&Co. hereby grants the Fund a non-exclusive license to use the words
"Xxxxxxx Xxxxx" in its corporate name.
II. ML&Co. hereby consents to the qualification of the Fund as a foreign
corporation under the laws of the State of New York with the words "Xxxxxxx
Xxxxx" in its corporate name and agrees to execute such formal consents as may
be necessary in connection with such filing.
III. The non-exclusive license hereinabove referred to has been given and
is given by ML&Co. on the condition that it may at any time, in its sole and
absolute discretion, withdraw the non-exclusive license to the use of the words
"Xxxxxxx Xxxxx" in the name of the Fund; and, as soon as practicable after
receipt by the Fund of written notice of the withdrawal of such non-exclusive
license, and in no event later than ninety days thereafter, the Fund will change
its name so that such name will not thereafter include the words "Xxxxxxx Xxxxx"
or any variation thereof.
IV. ML&Co. reserves and shall have the right to grant to any other
company, including without limitation, any other investment company, the right
to use the words "Xxxxxxx Xxxxx" or variations thereof in its name and no
consent or permission of the Fund
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shall be necessary; but, if required by an applicable law of any state, the Fund
will forthwith grant all requisite consents.
V. The Fund will not grant to any other company the right to use a name
similar to that of the Fund or ML&Co. without the written consent of ML&Co.
VI. Regardless of whether the Fund should hereafter change its name and
eliminate the words "Xxxxxxx Xxxxx" or any variation thereof from such name, the
Fund hereby grants to ML&Co. the right to cause the incorporation of other
corporations or the organization of voluntary associations which may have names
similar to that of the Fund or to that to which the Fund may change its name and
to own all or any portion of the shares of such other corporations or
associations and to enter into contractual relationships with such other
corporations or associations, subject to any requisite approval of a majority of
the Fund's shareholders and the Securities and Exchange Commission and subject
to the payment of a reasonable amount to be determined at the time of use, and
the Fund agrees to give and execute any such formal consents or agreements as
may be necessary in connection therewith.
VII. This Agreement may be amended at any time by a writing signed by the
parties hereto.
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IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of
the day and year first above written.
XXXXXXX XXXXX & CO., INC.
By /s/Xxxxxx Xxxxxx
----------------
Executive Vice President
SCI/TECH HOLDINGS, INC.
By /s/ Xxxxxx Xxxxxxxx
-------------------
Senior Vice President
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