Common use of Quality Control and Regulatory Compliance Clause in Contracts

Quality Control and Regulatory Compliance. Each Licensee agrees that it will make no use of the Marks that would tend to reflect adversely upon the Purchasing Agent, its business reputation, the GTN business and/or market, or would violate or reflect adversely upon the Purchasing Agent with regard to the Commission, the NASD or any other governmental authority or securities association or other regulatory matters. The common law understanding of the reasonable man standard, given the facts and circumstances then facing such Licensee, its agents and employees, shall apply when making a determination pursuant to this paragraph (e). Any proposed use of the Marks outside of the terms contemplated by this Paragraph shall be submitted to the Purchasing Agent for its written approval prior to said proposed use.

Quality Control and Regulatory Compliance. Each Licensee agrees that it will make no use of the Marks that would tend to reflect adversely upon the Purchasing Agent, its business reputation, the GTN business and/or market, or would violate or reflect adversely upon the Purchasing Agent with regard to the Commission, the NASD National Association of Securities Dealers, Inc., or any other governmental authority or securities association or other regulatory matters. The common law understanding of the reasonable man standard, given the facts and circumstances then facing such Licensee, its agents and employees, shall apply when making a determination pursuant to this paragraph (e). Any proposed use of the Marks outside of the terms contemplated by this Paragraph shall be submitted to the Purchasing Agent for its written approval prior to said proposed use.