Licensor’s Use of Scoreboard Sample Clauses

Licensor’s Use of Scoreboard. Caps During 2014 only and upon the payment of Two Hundred Thousand Dollars ($200,000.00) to Licensee, Licensor shall retain the exclusive right to sell advertising on and retain revenues for the Interior Facing (as defined in Paragraph 44.13) portion of the “Scoreboard Caps” appearing as of the Signature Date atop the Northeast and Southeast score/video boards. After 2014, Licensee shall have the right and absolute discretion, in connection with its selection and installation of the Display Equipment, to keep the Scoreboard Caps, install a replacement structure that is similar to the Scoreboard Caps (the “New Caps”), or to remove such the Scoreboard Caps entirely. For 2015 and for each year through the termination or the expiration of the term (as of the Signature Date) of the existing X.xx. naming rights agreement, if Licensee keeps the Scoreboard Caps installed, Licensor may extend its exclusive right described above upon the payment to Licensee of Two Hundred Thousand Dollars ($200,000.00) per year. If Licensee installs New Caps, Licensor may elect to retain the exclusive right to sell and retain all revenues related to the Interior Facing portion of the New Caps. If Licensor elects to obtain such rights, Licensor shall pay Licensee such amount as the Parties shall negotiate in good faith for the use of the Interior Facing Portion of the New Caps for each year through the termination or the expiration of the term (as of the Signature Date) of the existing X.xx naming rights agreement, but in no event greater than Two Hundred Thousand Dollars ($200,000.00). When the current term (as of the Signature Date) of the existing X.xx naming rights agreement either terminates or expires, the Parties will negotiate reasonable terms for the price of Licensor’s rights to use the Scoreboard Caps or any New Caps. Licensor may waive its rights to obtain from Licensee the use of the Interior Facing portion of the Scoreboard Caps or New Caps at any point during the Term by providing written notice to Licensee, in which case Licensor will be relieved of any future obligation to pay Licensee and Licensee will have the exclusive right to sell and retain all revenues for the Interior Facing portion of the Scoreboard Caps or New Caps during the remainder of the Term. Notwithstanding any of the foregoing, in no event shall Licensor have the right to sell or otherwise provide any advertising on the Interior Facing portion of the Scoreboard Caps or New Caps to any entity other t...
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Related to Licensor’s Use of Scoreboard

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