Naming Rights Sponsorships Fee Sample Clauses

Naming Rights Sponsorships Fee. If Operator identifies a significant CII Naming Rights Sponsorship opportunity, such opportunity will be disclosed to the City Representative. If the City Representative were to approve the Operator’s pursuit and method of handling of such opportunity, the City Representative will recommend to Council, after negotiation with Operator, a fair market success commission payable to Operator based upon the value of, and the work required to pursue, such Naming Rights Sponsorship; provided that Operator will be entitled to a Naming Rights Sponsorship commission if the entity or entities identified by Operator and disclosed to the City Representative as a Naming Rights Sponsorship opportunity actually execute an approved Naming Rights Sponsorship agreement during the Term or within 6 months of the expiration or termination of this Agreement for any reason other than a Material Default by Operator. The amount of such commission shall never exceed 15% of the net cash value of the Naming Rights Sponsorship payments, when and if received by CII, after deducting the cash value of Gross Revenue items, if any, provided by CII in exchange for such Naming Rights Sponsorship payments. Any commission will only be payable out of, and in installments commensurate with, the net cash value of the Naming Rights Sponsorship installment payments. City Council reserves the right to approve or disapprove, in its sole discretion, any Naming Rights Sponsorship agreement contemplated in this Section 5.5.
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