Common use of Property Value Clause in Contracts

Property Value. LICENSEE acknowledges that the Property has great value and associated goodwill because the public and the industry associate the Property with goods having consistently high quality that are sold primarily by retailers of high repute who sell primarily high quality goods and who maintain high merchandising standards. LICENSEE shall use its commercially reasonable efforts to preserve the value and goodwill of the Property and to cooperate with LICENSOR's efforts to preserve their value and goodwill as contemplated by this Agreement.