Common use of Name Reservation Clause in Contracts

Name Reservation. The Trustees on behalf of the Trust acknowledge that KeyCorp, through its subsidiary Key Trust Company ("Key Trust") has licensed to the Trust the non-exclusive right to use the name "Victory" as part of the name of the Trust, and has reserved the right to grant the non-exclusive use of the name "Victory" or any derivative thereof to any other party. In addition, Key Trust reserves the right to grant the non-exclusive use of the name "Victory" to, and to withdraw such right from, any other business or other enterprise. Key Trust reserves the right to withdraw from the Trust the right to use said name "Victory" and will withdraw such right if the Trust ceases to employ, for any reason, KeyCorp, an affiliate or any successor as adviser of the Trust.