Rep Fees definition
Rep Fees means the reasonable fees of sales representatives, consultants and advisors where (i) the sales representative, consultant or advisor is not an Affiliate of the Sub-Advisor and (ii) such fees are consistent with the fees charged to other clients and customers of the Sub-Advisor and its Affiliates for similar services.
Examples of Rep Fees in a sentence
Notwithstanding any of the foregoing, excluding Rep Fees, the Sub-Advisor shall not be entitled to reimbursement for any single or group of related expenses in excess of $25,000 unless the Sub-Advisor obtains the prior written approval of the Advisor.
In the event that Licensor is required to refund any amounts received with respect to a License Agreement (or Master License) Licensor shall be solely responsible for the entire amount of such refund; provided, however, that SLS shall refund that portion of its Rep Fees earned under a License Agreement with respect to any amounts required to be refunded solely as a result of a breach of this Agreement by SLS.