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LICENSE AGREEMENT RELATING TO USE OF NAME
AGREEMENT made as of the 3rd day of November, 1995, by and between
XXXXXXX XXXXX & CO., INC., a Delaware corporation ("ML & Co."), and XXXXXXX
XXXXX MUNICIPAL STRATEGY FUND, INC., a Maryland corporation (the "Fund").
W I T N E S S E T H :
WHEREAS, ML & Co. was incorporated under the laws of the State of
Delaware on March 27, 1973 under the corporate name "Xxxxxxx Xxxxx & Co., Inc."
and has used such name at all times thereafter;
WHEREAS, ML & Co. was duly qualified as a foreign corporation under
the laws of the State of New York on April 25, 1973 and has remained so
qualified at all times thereafter;
WHEREAS, the Fund was incorporated under the laws of the State of
Maryland on July 13, 1994; and
WHEREAS, the Fund desires to qualify as a foreign corporation under
the laws of the State of New York and has requested ML & Co. to give its
consent to the use of the name "Xxxxxxx Xxxxx" in the Fund's corporate name;
NOW, THEREFORE, in consideration of the premises and of the covenants
hereinafter contained, ML & Co. and the Fund hereby agree as follows:
1. ML & Co. hereby grants the Fund a non-exclusive license to use the
words "Xxxxxxx Xxxxx" in its corporate name.
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2. ML & Co. hereby consents to the qualification of the Fund as a
foreign corporation under the laws of the State of New York with the words
"Xxxxxxx Xxxxx" in its corporate name and agrees to execute such formal
consents as may be necessary in connection with such filing.
3. The non-exclusive license hereinabove referred to has been given
and is given by ML & Co. on the condition that it may at any time, in its sole
and absolute discretion, withdraw the non-exclusive license to the use of the
words "Xxxxxxx Xxxxx" in the name of the Fund; and, as soon as practicable
after receipt by the Fund of written notice of the withdrawal of such
non-exclusive license, and in no event later than ninety days thereafter, the
Fund will change its name so that such name will not thereafter include the
words "Xxxxxxx Xxxxx" or any variation thereof.
4. ML & Co. reserves and shall have the right to grant to any other
company, including without limitation, any other investment company, the right
to use the words "Xxxxxxx Xxxxx" or variations thereof in its name and no
consent or permission of the Fund shall be necessary; but, if required by an
applicable law of any state, the Fund will forthwith grant all requisite
consents.
5. The Fund will not grant to any other company the right to use a
name similar to that of the Fund or ML & Co. without the written consent of ML
& Co.
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6. Regardless of whether the Fund should hereafter change its name
and eliminate the words "Xxxxxxx Xxxxx" or any variation thereof from such
name, the Fund hereby grants to ML & Co. the right to cause the incorporation
of other corporations or the organization of voluntary associations which may
have names similar to that of the Fund or to that to which the Fund may change
its name and to own all or any portion of the shares of such other corporations
or associations and to enter into contractual relationships with such other
corporations or associations, subject to any requisite approval of a majority
of the Fund's shareholders and the Securities and Exchange Commission and
subject to the payment of a reasonable amount to be determined at the time of
use, and the Fund agrees to give and execute any such formal consents or
agreements as may be necessary in connection therewith.
7. This Agreement may be amended at any time by a writing signed by
the parties hereto.
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IN WITNESS WHEREOF, the parties hereto have executed this Agreement as
of the day and year first above written.
XXXXXXX XXXXX & CO., INC.
By:
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Executive Vice President
XXXXXXX XXXXX MUNICIPAL STRATEGY
FUND, INC.
By:
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Executive Vice President
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