ctronic means such as the Internet, applications, by websites we may establish, catalog sales, telemarketing, or other direct marketing sales;

• (c) To own and operate, and grant licenses or franchises to others to own and operate, any business of any kind, including a real estate business selling the same or similar services as CHRISTIE'S INTERNATIONAL REAL ESTATE businesses, under any names, trademarks, service marks, logos and other commercial symbols other than the Marks, regardless of where such businesses are located, including within the Protected Territory;
• (d) To merge with, acquire, be acquired by, or become associated with any businesses that are the same or similar to a CHRISTIE'S INTERNATIONAL REAL ESTATE businesses and operate or license others to operate such businesses regardless of where the businesses are located, including within the Protected Territory, and to be acquired by any third party that operates businesses that are the same or similar to CHRISTIE'S INTERNATIONAL REAL ESTATE businesses regardless of where such businesses are located, including within the Protected Territory;
• (e) to promote, sell, and distribute products, items, and other materials under the Marks or other trademarks through dissimilar channels of distribution (i.e., other than the operation of a CHRISTIE'S INTERNATIONAL REAL ESTATE office within the Protected Territory), including by electronic means such as the Internet, applications, by websites we may establish, catalog sales, telemarketing, or other direct marketing sales;
• (f) To advertise the System anywhere, including, without limitation, on the Internet (or any other existing or future form of electronic commerce) and to create, operate, maintain, and modify, or discontinue the use of a website or any online presence using the Marks; and
• (g) to engage in all other activities associated with the CHRISTIES INTERNATIONAL REAL ESTATE Marks not expressly prohibited under the License Agreement.

As indicated above, if the License Agreement does not designate a Protected Territory, then you have no territorial protection, we reserve all rights, and we and other Affiliates may operate real estate brokerages or other businesses under the CHRISTIE'S INTERNATIONAL REAL ESTATE mark anywhere.

Minimum Performance Requirement

Your rights under the License Agreement are dependent on you achieving the minimum performance requirements identified on Exhibit 1 to the License Agreement (referred to as the "Minimum Performance Requirement").

Source: Item 23 — RECEIPT (FDD pages 54–177)