Sports Vertical definition
Sports Vertical means any legal entity using CLAS or Derivative Works of CLAS for the management of sporting associations or performance of sporting events as its primary business; and "Net Revenue" means the net licence fees received by FIRSTWAVE for licences granted to third parties to Use CLAS or Derivative Works of CLAS, exclusive of development services, training and implementation services, technical support services, professional service fees, any other service fees or any taxes related thereto. FIRSTWAVE agrees to allocate fees paid by such third parties in good faith in a way that does not unfairly reduce the amount of such fees that are allocable to licences for CLAS or Derivative Works of CLAS. Failure by The FA to accept CLAS and pay all Charges specified in Clause 6.1 to FIRSTWAVE renders this Clause null and void.