Exhibit 8(c)
LICENSE AGREEMENT RELATING TO USE OF NAME
AGREEMENT made as of November 1, 2000 by and between XXXXXXX XXXXX
INVESTMENT MANAGERS INTERNATIONAL LIMITED, a corporation organized under the
laws of England and Wales ("Merrill International") and MERCURY ASSET MANAGEMENT
GROUP LTD., a corporation organized under the laws of England and Wales
("Mercury Group") (Merrill International and Mercury Group are hereinafter
together referred to as "Mercury") and MERCURY TARGET SELECT EQUITY FUND, INC.,
a Maryland corporation (the "Corporation"), on its own behalf and on behalf of
each series of the Corporation that may be formed in the future (the "Funds").
W I T N E S S E T H :
WHEREAS, Merrill International was originally incorporated under the laws
of England and Wales on March 12, 1981 under the name "Eighty-Ninth Shelf
Trading Company Limited", changed on May 20, 1981 to "Aetna Warburg Investment
Management Limited," which changed on October 1, 1981 to "Warburg Investment
Management International Ltd.," which changed on July 27, 1995 to "Mercury Asset
Management International Ltd." and on June 30, 2000, changed to "Xxxxxxx Xxxxx
Investment Managers International Ltd." and Mercury Group was incorporated under
the laws of England and Wales on March 12, 1981 under the corporate name
"Warburg Investment Management Ltd." which was changed on April 14, 1986 to
"Mercury Warburg Investment Management Ltd.," changed on October 1, 1986 to
"Mercury Asset Management Holdings Ltd." on March 3, 1987 to Mercury Asset
Management plc" and was reregistered as a private limited company under the name
"Mercury Asset Management Group Ltd." on March 9, 1998, and have used such names
at all times thereafter;
WHEREAS, the Corporation was incorporated under the laws of the State of
Maryland on August 3, 2000; and
WHEREAS, the Corporation desires to qualify as a foreign corporation under
the laws of the State of New York and has requested Mercury to give its consent
to the use of the word "Mercury" or the words "Mercury Asset Management" in its
name and in the name of each Fund;
NOW, THEREFORE, in consideration of the premises and of the covenants
hereinafter contained, Mercury and the Corporation hereby agree as follows:
1. Mercury hereby grants the Corporation a non-exclusive license to use
the word "Mercury" or the words "Mercury Asset Management" in its corporate name
and in the name of the Funds.
2. Mercury hereby consents to the qualification of the Corporation as a
foreign corporation under the laws of the State of New York with the word
"Mercury" or the words "Mercury Asset Management" in its corporate name and in
the name of the Funds 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 Mercury 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 word
"Mercury" or the words "Mercury Asset Management" in the names of the
Corporation and of the Funds; and, as soon as practicable after receipt by the
Corporation of written notice of the withdrawal of such non-exclusive license,
and in no event later than ninety days thereafter, the Corporation will change
its name and the name of the Funds so that such names will not thereafter
include the word "Mercury," the words "Mercury Asset Management," or any
variation thereof.
4. Mercury reserves and shall have the right to grant to any other
company, including without limitation any other investment company, the right to
use the word "Mercury," the words
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"Mercury Asset Management," or variations thereof in its name and no consent or
permission of the Corporation shall be necessary; but, if required by an
applicable law of any state, the Corporation will forthwith grant all requisite
consents.
5. The Corporation will not grant to any other company the right to use a
name similar to that of the Corporation or the Funds or Mercury without the
written consent of Mercury.
6. Regardless of whether the Corporation and/or the Funds should hereafter
change their names and eliminate the word "Mercury" or the words "Mercury Asset
Management" from such names, the Corporation hereby grants to Mercury the right
to cause the incorporation of other corporations or the organization of
voluntary associations which may have names similar to that of the Corporation
and/or the Funds or to that to which the Corporation and/or the Funds may change
their names and 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
each 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 Corporation agrees to give and execute 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. This Agreement constitutes the entire agreement of the parties
with respect to the subject matter hereof and supersedes all prior agreements,
arrangements and understandings, whether written or oral, with respect thereto.
IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of
the day and year first above written. This Agreement may be executed by the
parties hereto on any number of counterparts, all of which together shall
constitute one and the same instrument.
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XXXXXXX XXXXX INVESTMENT MANAGERS
INTERNATIONAL LTD.
By:
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Name:
Title:
MERCURY ASSET MANAGEMENT GROUP LTD.
By:
-----------------------------------
Name:
Title:
MERCURY TARGET SELECT EQUITY FUND, INC.
By:
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Name:
Title:
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