Common use of Naming Rights Clause in Contracts

Naming Rights. Landlord shall have the right, from time to time upon at least sixty (60) calendar days prior written notice to Tenant to name or re-name the MOB provided that such name is not likely to materially and negatively affect Tenant’s ability to market and lease space within the MOB. If Tenant determines, in its reasonable discretion, that a proposed name is likely to materially and negatively affect Tenant’s ability to lease space in the MOB, Tenant shall deliver written notice of objection to Landlord within ten (10) calendar days after receiving notice of the proposed name setting forth in detail the objection(s). If the Tenant fails to object to the name selected by the Landlord within ten (10) days, it shall be presumed that he Tenant has approved the same. The Parties shall, in good faith, use commercially reasonable efforts to resolve the dispute by mutual agreement. If such dispute cannot be settled by mutual agreement within a reasonable time, either Tenant or Landlord may submit the dispute to a reputable appraiser or real estate consultant familiar with the metropolitan market mutually selected by Tenant and Landlord, and the decision of such appraiser or consultant shall be conclusive and binding upon the Parties. Tenant hereby expressly approves of any name utilizing “Xxxxxxx Memorial Hospital” or any derivation thereof and approves of any name and of any derivation thereof of any hospital as may, from time to time, be located on the Campus. Landlord shall also have the right to require the placement of such name, at Landlord’s sole cost, designed in a manner acceptable to Landlord and approved by Tenant, which approval shall not be unreasonably conditioned, withheld, conditioned or delayed, on the exterior of the MOB in a location or locations acceptable to Landlord and approved by Tenant, which approval shall not be unreasonably conditioned, withheld or delayed, in compliance with all Legal Requirements. Such right shall include the right to the placement of any sign, logo, service xxxx or other similar xxxx either alone, or in conjunction with such name, on the exterior of the MOB in compliance with all Legal Requirements. Tenant shall not change the name of the MOB without the prior written consent of Landlord, which consent may be conditioned or withheld at the sole and absolute discretion of Landlord. The signage referred to in this Section 4.3 will be the sole and exclusive signage permitted on the exterior of the MOB and Tenant may not place any sign or signage on the Property, visible from outside the MOB without Landlord’s prior written consent. Landlord will reimburse Tenant for reasonable, out-of-pocket costs and expenses incurred by Tenant in re-naming the MOB pursuant to this Section 4.3, including, but not limited to costs relating to the removal and replacement of existing signage with the signage containing the new name.

Naming Rights. For so long as Tenant continues to lease at least 58,745 square feet of the Premises (the “Minimum Square Footage”), at the election of Tenant, the name of the Project shall continue to be Xxxxxx Plaza, and the names of the Buildings shall continue to be Xxxxxx Plaza East and Xxxxxx Plaza West. If (i) Tenant ceases to lease the Minimum Square Footage, or (ii) the Term of this Lease expires or is otherwise terminated, then Landlord shall have the right, from time right to time upon at least sixty (60) calendar days prior written notice change the name of the Project and the Buildings to Tenant to a name or re-name the MOB provided that such name is not likely to materially and negatively affect Tenantdetermined by Landlord in Landlord’s ability to market and lease space within the MOB. If Tenant determines, in its reasonable sole discretion, that a proposed name is likely to materially and negatively affect Tenant’s ability to lease space in the MOB, Tenant shall deliver written notice of objection to Landlord within ten (10) calendar days after receiving notice of the proposed name setting forth in detail the objection(s). If the Tenant fails to object to the name selected by the Landlord within ten (10) days, it shall be presumed that he Tenant has approved the same. The Parties shall, in good faith, use commercially reasonable efforts to resolve the dispute by mutual agreement. If such dispute cannot be settled by mutual agreement within a reasonable time, either Tenant or Landlord may submit the dispute to a reputable appraiser or real estate consultant familiar with the metropolitan market mutually selected by Tenant and Landlord, and the decision of such appraiser or consultant shall be conclusive and binding upon the Parties. Tenant hereby expressly approves of any name utilizing “Xxxxxxx Memorial Hospital” or any derivation thereof and approves of any name and of any derivation thereof of any hospital as may, from time to time, be located on the Campus. Landlord shall also have the right to require the placement of such namecease using and shall remove, at Landlord’s sole costcost and expense, designed in a manner acceptable to Landlord and approved by Tenant, which approval shall not be unreasonably conditioned, withheld, conditioned or delayed, on the exterior all Project signage (outside of the MOB Premises) referencing “Xxxxxx” or any other names referring to Tenant or Tenant’s Affiliates that are then being used to reference the Buildings or the Project. If Tenant elects in a location or locations acceptable its sole discretion, during the Lease Term, to Landlord and approved by Tenant, which approval shall not be unreasonably conditioned, withheld or delayed, in compliance with all Legal Requirements. Such right shall include the right to the placement of any sign, logo, service xxxx or other similar xxxx either alone, or in conjunction with such name, on the exterior of the MOB in compliance with all Legal Requirements. Tenant shall not change the name of the MOB without Project and/or the names of the Buildings, or if Tenant no longer desires to have the right to name the Buildings and/or the Project, then Tenant shall give Landlord written notice either of Tenant’s desired new name of the Project and/or the Buildings (subject to Landlord’s approval, which shall be granted unless the name is not appropriate for a first class office building), or of the fact that Landlord shall re-name the Project and the Buildings to a name of Landlord’s choice. If the name of the Project or the Buildings is being changed at Tenant’s election to a name selected by Tenant (and approved by Landlord) pursuant to the preceding sentence, Landlord and Tenant shall reasonably cooperate to agree on new Project signage, including the design, form and content of such new signage, and Landlord shall install the new signage at the cost and expense of Tenant. If (upon Tenant’s specific prior written consent notice) Landlord changes the name of the Project at a time when Tenant is still in possession of the Premises under this Lease, to a name selected by Landlord, then Landlord shall, at its expense, remove and replace only such signage as is general to the Project and the Buildings, but shall not alter or disturb any signage that is specific to any portion of the Premises, to Tenant’s operation, or to Tenant’s personal property. Tenant grants to Landlord a non-exclusive license during the Term and all Extended Terms to use the name “Xxxxxx Plaza” solely in connection with the promotion and marketing of the Project, which consent license may be conditioned or withheld at the sole and absolute discretion of Landlord. The signage referred to in this Section 4.3 will be the sole and exclusive signage permitted on the exterior of the MOB and Tenant may not place any sign or signage on the Property, visible from outside the MOB without Landlord’s prior written consent. Landlord will reimburse Tenant for reasonable, out-of-pocket costs and expenses incurred revoked by Tenant in re-naming its discretion upon written notice to Landlord at any time when the MOB pursuant to this Section 4.3, including, but not limited to costs relating to name of the removal and replacement of existing signage with the signage containing the new nameProject is no longer “Xxxxxx Plaza.”

Naming Rights. Landlord shall have the right, from time to time upon at least sixty (60) calendar days prior written notice to Tenant to name or re-name the MOB provided that such name is not likely to materially and negatively affect Tenant’s ability to market and lease space within the MOB. If Tenant determines, in its reasonable discretion, that a proposed name is likely to materially and negatively affect Tenant’s ability to lease space in the MOB, Tenant shall deliver written notice of objection to Landlord within ten (10) calendar days after receiving notice of the proposed name setting forth in detail the objection(s). If the Tenant fails to object to the name selected by the Landlord within ten (10) days, it shall be presumed that he Tenant has approved the same. The Parties shall, in good faith, use commercially reasonable efforts to resolve the dispute by mutual agreement. If such dispute cannot be settled by mutual agreement within a reasonable time, either Tenant or Landlord may submit the dispute to a reputable appraiser or real estate consultant familiar with the metropolitan market mutually selected by Tenant and Landlord, and the decision of such appraiser or consultant shall be conclusive and binding upon the Parties. Tenant hereby expressly approves of any name utilizing “Xxxxxxx Memorial Hospital” or any derivation thereof and approves of any name and of any derivation thereof of any hospital as may, from time to time, be located on what is, as of the Lease Effective Date, the campus of Xxxxxxx Memorial Hospital (“Campus”). Landlord shall also have the right to require the placement of such name, at Landlord’s sole cost, designed in a manner acceptable to Landlord and approved by Tenant, which approval shall not be unreasonably conditioned, withheld, conditioned or delayed, on the exterior of the MOB in a location or locations acceptable to Landlord and approved by Tenant, which approval shall not be unreasonably conditioned, withheld or delayed, in compliance with all Legal Requirements. Such right shall include the right to the placement of any sign, logo, service xxxx or other similar xxxx either alone, or in conjunction with such name, on the exterior of the MOB in compliance with all Legal Requirements. Tenant shall not change the name of the MOB without the prior written consent of Landlord, which consent may be conditioned or withheld at the sole and absolute discretion of Landlord. The signage referred to in this Section 4.3 4.2 will be the sole and exclusive signage permitted on the exterior of the MOB and Tenant may not place any sign or signage on the Property, visible from outside the MOB without Landlord’s prior written consent. Landlord will reimburse Tenant for reasonable, out-of-pocket costs and expenses incurred by Tenant in re-naming the MOB pursuant to this Section 4.34.2, including, but not limited to costs relating to the removal and replacement of existing signage with the signage containing the new name.

Naming Rights. At such time, if any, as Tenant, its Affiliates and/or Successors are Directly Occupying over 400,000 square feet of Rentable Area in the Project and for so long thereafter as Tenant, its Affiliates and/or Successors are Directly Occupying at least 300,000 square feet of Rentable Area in the Project, Tenant shall have the exclusive right to name the Tower (i) "Capella Tower," or (ii) any other name which identifies Tenant (or an Affiliate of Tenant occupying significant space in the Project) that is selected by Tenant and approved by Landlord, which approval shall not to be unreasonably withheld or delayed (the "NAMING RIGHT"); provided that if Tenant, its Affiliates and/or Successors are Directly Occupying less than 350,000 square feet, but more than 300,000 square feet of Rentable Area in the Project, then Landlord may terminate the Naming Right, but only if the exclusive right to name the Tower is going to be granted by Landlord to a tenant that will be or is leasing more space in the Project than Tenant. For so long as Tenant's Naming Right is in effect, Tenant shall have the exclusive right, at Tenant's expense, to install and maintain one monument sign with the name Capella Tower (or other name as discussed above) at the Sixth Street and Second Avenue entry way to the Project, subject to Landlord's reasonable approval as to the design, size and actual location of the same and compliance with all applicable Legal Requirements. Tenant shall pay all costs which are incurred by Landlord in connection with so identifying the Tower and all costs which Landlord is required to pay as reimbursement to any tenants of the Tower because of such name change and all costs incurred by Landlord to remove existing Project signage and replace any such removed signage with signage of comparable quality. The Naming Right shall be personal to Capella Education Company and may not be assigned other than to an Affiliate or Successor. If, at any time, (i) Tenant, its Affiliates and/or Successors are not Directly Occupying at least 300,000 square feet of Rentable Area in the Project, (ii) Landlord terminates the Naming Right in order to grant the right to name the Tower to a larger tenant as permitted above, or (iii) this Lease is terminated, then (x) Tenant's Naming Right shall forever terminate and Landlord may change the name of the Tower, (y) Landlord may remove, at Tenant's expense, any signage with the name that Tenant has chosen for the Tower, and (z) Landlord may grant rights to name the Tower to any third party in the case of clause (i) and (iii) above. Nothing in this Section shall preclude Landlord from granting, and Landlord shall have the right, from at any time to time upon at least sixty (60) calendar days prior written notice to Tenant to name or re-name the MOB provided that such name is not likely to materially and negatively affect Tenant’s ability to market and lease space within the MOB. If Tenant determines, in its reasonable discretion, that a proposed name is likely to materially and negatively affect Tenant’s ability to lease space in the MOB, Tenant shall deliver written notice of objection to Landlord within ten (10) calendar days after receiving notice of the proposed name setting forth in detail the objection(s). If the Tenant fails to object to the name selected by the Landlord within ten (10) days, it shall be presumed that he Tenant has approved the same. The Parties shall, in good faith, use commercially reasonable efforts to resolve the dispute by mutual agreement. If such dispute cannot be settled by mutual agreement within a reasonable time, either Tenant or Landlord may submit the dispute to a reputable appraiser or real estate consultant familiar with the metropolitan market mutually selected by Tenant and Landlord, and the decision of such appraiser or consultant shall be conclusive and binding upon the Parties. Tenant hereby expressly approves of any name utilizing “Xxxxxxx Memorial Hospital” or any derivation thereof and approves of any name and of any derivation thereof of any hospital as may, from time to time, be located on to grant naming rights with respect to the Campus. Building to any third party and Landlord shall also have the right, at any time prior to the date on which Tenant would otherwise become entitled to the Naming Right, to grant the exclusive right to require name the placement Tower to any tenant of such namethe Project that leases more Rentable Area in the Project than Tenant. Notwithstanding anything to the contrary in this Lease, at Landlord’s sole cost, designed in a manner acceptable to Landlord and approved by for so long as Tenant, which approval its Affiliates and/or Successors are Directly Occupying at least 100,000 square feet of Rentable Area in the Project, Landlord shall not be unreasonably conditioned, withheld, conditioned or delayed, on grant the exterior of the MOB in a location or locations acceptable to Landlord and approved by Tenant, which approval shall not be unreasonably conditioned, withheld or delayed, in compliance with all Legal Requirements. Such right shall include the exclusive right to name the placement Tower or the Building to a Direct Competitor of any sign, logo, service xxxx Tenant or other similar xxxx either alone, or in conjunction with such name, on the exterior of the MOB in compliance with all Legal Requirements. Tenant shall not change the name of the MOB without Tower or the prior written consent Building to reflect the name of Landlord, which consent may be conditioned or withheld at the sole and absolute discretion a Direct Competitor of LandlordTenant. The signage referred to in Tenant's rights under this Section 4.3 will be the sole and exclusive signage permitted on the exterior of the MOB and Tenant 36.2 may not place any sign or signage on be assigned apart from the Property, visible from outside the MOB without Landlord’s prior written consent. Landlord will reimburse Tenant for reasonable, out-of-pocket costs and expenses incurred by Tenant in re-naming the MOB pursuant to this Section 4.3, including, but not limited to costs relating to the removal and replacement of existing signage with the signage containing the new nameLease.