THE XXXXXXX NAME. The Advisor, Xxxxxxx and their Affiliates have a proprietary interest in the name “Xxxxxxx”. The Advisor hereby grants to the Company a non-transferable, non-assignable, non-exclusive royalty-free right and license to use the name “Xxxxxxx” during the term of this Agreement. Accordingly, and in recognition of this right, if at any time the Company ceases to retain Xxxxxxx or an Affiliate thereof to perform the services of the Advisor, the Company (including the Operating Partnership, if formed) will, promptly after receipt of written request from Xxxxxxx, cease to conduct business under or use the name “Xxxxxxx” or any derivative thereof and the Company and the Operating Partnership shall change the name of the Company and the Operating Partnership to a name that does not contain the name “Xxxxxxx” or any other word or words that might, in the reasonable discretion of the Advisor, be susceptible of indication of some form of relationship between the Company and the Advisor or any Affiliate thereof. At such time, the Company will also make any changes to any trademarks, service marks or other marks necessary to remove any references to the word “Xxxxxxx”. Consistent with the foregoing, it is specifically recognized that the Advisor or one or more of its Affiliates has in the past and may in the future organize, sponsor or otherwise permit to exist other investment vehicles (including vehicles for investment in real estate) and financial and service organizations having “Xxxxxxx” as a part of their name, all without the need for any consent (and without the right to object thereto) by the Company or the Operating Partnership, if formed.
Appears in 8 contracts
Samples: Advisory Agreement (Hartman vREIT XXI, Inc.), Advisory Agreement (Hartman Short Term Income Properties XX, Inc.), Advisory Agreement (Hartman vREIT XXI, Inc.)
