Common use of System Marks Clause in Contracts

System Marks. It is understood and agreed by Owner that the name Holiday Inn and all System Marks are the exclusive property of Manager or its Affiliates. Owner agrees and acknowledges the exclusive right of ownership of Manager and its Affiliates to the System Marks and the Reservation System. Owner hereby disclaims any right or interest therein, regardless of the legal protection afforded thereto. Unless the License Agreement remains in full force and effect, in the event of termination or cancellation of this Agreement, whether as a result of a default by Manager or otherwise, Owner shall not hold itself out as, or operate the Hotel as, a Holiday Inn hotel, and will immediately cease using the name Holiday Inn, and all other System Marks in connection with the name or operation of the Hotel as of the Expiration Date. Manager will then have the right to enter the Hotel and to remove all signs, furnishings, printed material, emblems, slogans or other distinguishing characteristics which are now or hereafter may be connected or identified with the Reservation System. Owner shall not use any System Marks or any part, combination or variation thereof in the name of any partnership, corporation or other business entity, nor allow the use thereof by others. Owner shall not make, or allow others to make, reference to any System Marks, or any combination or variation thereof, directly or indirectly, in connection with Owner’s participation in a public sale of securities or other comparable means of financing without the prior written consent of Manager or its affiliate as applicable, which may be withheld in its sole discretion.