Component Naming Rights Sample Clauses

Component Naming Rights. Subject to the limitation on term in Section 9.1, Tenant shall have the right to grant permanent and temporary naming rights for components of the Coliseum and/or the Coliseum Property (e.g. peristyle, locker rooms, suites, etc.) in its sole discretion. Naming rights may be commercial, non-profit institutional or honorary. Revenues from “permanent and commercial” naming rights shall be included in Operating Receipts for the purposes of Section 4.3. Naming rights shall be deemed “permanent and commercial” if they identify a paid commercial sponsorship with permanent signage, as defined under applicable City of Los Angeles ordinances. Permanent non-profit institutional or honorary naming rights for stadium components and revenue from temporary naming rights (identified by temporary signage, as defined by applicable ordinances) shall be Excluded Receipts for the purposes of Section 4.3; provided, however, that a Naming Rights Amount based on the Commercial Value Equivalent of permanent non-profit institutional or honorary naming rights for components of the Coliseum shall be included in Operating Receipts if the name is in a location that has commercial value, meaning that it is (i) materially and regularly visible in broadcast images of the Coliseum during televised events, or (ii) generally visible from the stands within the Coliseum. The Commercial Value Equivalent and Naming Rights Amount imputed in connection with such naming rights shall be calculated and included in Operating Receipts in accordance with and subject to the same terms, conditions, procedures and limitations as set forth in Sections 9.2(b) through (d) above, in which case for this purpose each reference to “Coliseum” shall instead mean the particular component of the Coliseum and/or Coliseum Property for which the naming rights are granted.
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