System Marks definition
Examples of System Marks in a sentence
Owner shall not use any System Marks or any part, combination or variation thereof in the name of any partnership, corporation or other business entity, nor allow the use thereof by others.
Owner agrees and acknowledges the exclusive right of ownership of Manager and its Affiliates to the System Marks and the Reservation System.
Affiliates of Manager which own the System Marks and Brand Standards reserve the right to revise and amend the System Marks or Brand Standards from time to time on a non-discriminatory basis in accordance with the terms of the License Agreement.
Owner shall not make, or allow others to make, reference to any System Marks, or any combination or variation thereof, directly or indirectly, in connection with Owner’s participation in a public sale of securities or other comparable means of financing without the prior written consent of Manager or its affiliate as applicable, which may be withheld in its sole discretion.
Manager shall hold Owner harmless from and indemnify Owner against any amounts voluntarily paid in connection with a settlement and any judgments or awards of any court or administrative agency of competent jurisdiction, whether such awards be in the form of damages, costs or otherwise which Owner is required to pay as a result of Manager using any of its System Marks as the name of or in connection with the operation of the Hotel in accordance with the terms of this Agreement.
Further, Owner will have no right whatsoever from and after the date of termination to make use of or to dispose of any Furnishings and Equipment, Operating Equipment and Operating Supplies bearing or incorporating any System Marks of Manager except upon and in accordance with the terms and provisions of this Section 16.02.
Manager may transfer this Agreement and its rights hereunder to a successor by merger or otherwise by law, provided that such successor acquires all of Manager’s rights in the use of the Brand and the System Marks and the right to participate in the benefits of the Brand Standards and the Reservation System.
Unless the License Agreement remains in full force and effect, in the event of termination or cancellation of this Agreement, whether as a result of a default by Manager or otherwise, Owner shall not hold itself out as, or operate the Hotel as, a Holiday Inn hotel, and will immediately cease using the name Holiday Inn, and all other System Marks in connection with the name or operation of the Hotel as of the Expiration Date.
It is understood and agreed by Owner that the name Holiday Inn and all System Marks are the exclusive property of Manager or its Affiliates.
Manager and its Affiliates which own the applicable System Marks and Brand Standards reserve the right to revise and amend such System Marks or Brand Standards from time to time on a non-discriminatory basis.