Common use of Grant of License by PROMOTER Clause in Contracts

Grant of License by PROMOTER. PROMOTER hereby grants to NASCAR a non-transferable, non-exclusive, royalty-free license to use and sublicense, strictly in accordance with this Agreement, PROMOTER’s marks listed on Exhibit 4 to this Agreement (collectively, the “PROMOTER’s Marks”) in connection with publicity, promotion and advertising of the Event and the NASCAR NEXTEL Cup Series, and the exploitation of Live Broadcast Rights and Ancillary Rights. This license shall be perpetual with respect to the exploitation of Live Broadcast Rights and Ancillary Rights; with respect to all other rights, this license shall terminate upon the expiration or termination of the sanction granted by this Agreement.

Grant of License by PROMOTER. PROMOTER hereby grants to NASCAR a non-transferable, non-exclusive, royalty-free license to use and sublicense, strictly in accordance with this Agreement, PROMOTER’s marks listed on Exhibit 4 to this Agreement (collectively, the “PROMOTER’s Marks”) in connection with publicity, promotion and advertising of the Event and the NASCAR NEXTEL Winston Cup Series, and the exploitation of Live Broadcast Rights and Ancillary Rights. This license shall be perpetual with respect to the exploitation of Live Broadcast Rights and Ancillary Rights; with respect to all other rights, this license shall terminate upon the expiration or termination of the sanction granted by this Agreement.