Referrals by Licensor Sample Clauses
The "Referrals by Licensor" clause defines the rights and obligations of the licensor regarding the act of referring potential customers, clients, or business opportunities to the licensee. Typically, this clause outlines the process by which the licensor may introduce third parties to the licensee, and may specify whether the licensor is entitled to compensation, such as referral fees or commissions, for successful referrals that result in business. Its core practical function is to incentivize the licensor to promote the licensee's products or services, while clearly establishing the terms under which referrals are made and compensated, thereby preventing disputes over referral arrangements.
Referrals by Licensor. The first sentence of Section 6.1(a) is hereby deleted in its entirety and replaced with the following:
(a) Licensee agrees to pay Licensor (or to a Licensor Affiliate designed by Licensor) a fee equal to 25% of any gross commission income per transaction side earned by Licensee or any Company Affiliate from the provision of Authorized Brokerage Services to a third party referred by Licensor or any Licensor Affiliate to the Licensee Group for such Authorized Brokerage Services, provided that such third party is not an Existing Brokerage Lead (it being understood that Licensee shall give first preference in transmitting any such referral to Branded Operators).”
Referrals by Licensor. (a) Licensee agrees to pay to Licensor (or to a Licensor Affiliate designated by Licensor) a fee equal to 30% of any gross commission income per transaction side earned by Licensee or any Company Affiliate from the provision of Authorized Brokerage Services to a third party referred by Licensor or any Licensor Affiliate to the Licensee Group for such Authorized Brokerage Services, provided that such third party is not an Existing Brokerage Lead (it being understood that Licensee shall give first preference in transmitting any such referral to Branded Operators). Any such referral by Licensor or any Licensor Affiliate shall be communicated to Licensee, or to such Company Affiliate as Licensee may from time to time designate to receive such referrals, by written notice to Licensor. An “Existing Brokerage Lead” shall mean a Person with whom a broker of a Branded Operator has an existing client relationship providing Authorized Brokerage Services as of the time Licensor or any Licensor Affiliate made such referral.
Referrals by Licensor. (a) Licensee agrees to pay to Licensor (or to a Licensor Affiliate designated by Licensor) a fee equal to 30% of any gross commission income per transaction side earned by Licensee or any Company Affiliate from the provision of Authorized Brokerage Services to a third party referred