Examples of BBO Use in a sentence
Permitted Use: One or more of the following permitted data uses: Firm BBO Use, IDX, Participant Data Use, or VOW as specified on the data request form.
The designee may use the BBO Data only to facilitate the BBO Use on behalf of that Participant and its affiliated Subscribers.
Subject to the terms and conditions of this Agreement, Telluride MLS hereby grants to Licensee a limited, revocable, non-transferrable, non-exclusive license to receive from Telluride MLS an electronic data feed of all MLS Listing Information contained in the BBO Data and delivered via the BBO Feed for use solely and exclusively in connection with an authorized BBO Use (the “License”).
To the extent necessary for any BBO Use, Telluride MLS grants to Licensee a limited, non-exclusive, revocable license to use Telluride MLS’s trademark(s) (each a “Telluride MLS Trademark”), for the sole purpose of identifying Telluride MLS as the source of the MLS Listing Information.
Telluride MLS may, or at its option may engage an independent third party to, audit, test, and inspect the books, records, equipment, and facilities of Licensee’s controls, systems and procedures, related to Participant’s access to the BBO Data for a BBO Use, as often as deemed reasonably necessary by Telluride MLS, in its sole discretion.
If any features or functions of a BBO Use require registration or other information, Telluride MLS may input information which is not accurate in order to access the feature or function.
Within one hundred eighty (180) business days after the Effective Date, Telluride MLS may, or at its option may engage an independent third party to, audit, test, and inspect the books, records, equipment, and facilities of Participant’s use of the BBO Data for any BBO Use, including Licensee’s controls, systems and procedures, related to Participant’s BBO Use(s) (the “Initial Security Audit”).
Vendor hereby acknowledges and agrees that: (i) Vendor has no independent participation rights in Telluride MLS by virtue of the License granted hereunder; (ii) shall not use MLS Listing Information except in connection with a BBO Use pursuant to this Agreement; and (iii) access by Vendor to MLS Listing Information is derivative of the rights of Participant.