There is consistent proximity throughout the logotype. The negative space forming the "N" makes sense with the name because looking at the logotype engages the audience when locating the "N". I also think the logotype font works well bold.
Here is another example of a simple stylization of a logotype. The "A" in Water has a water droplet replacing one of the stems from the letter. A good modern logotype who's symbolism is easily identified.
A beautiful use of playful, yet classic ligatures in this logo for a Budapest night club. Here the ‘r’ and ‘f’ in the logotype complete the letter next to them. It was designed by Miklós Kiss, a Hungarian graphic designer
This teal coloured logo belongs to the business 'The Paper Factory' and was designed by Biesmans Antoine. This logo is very well done, the designer has incorporated a piece of paper and a factory which of course = The Paper Factory!