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CIVIX NAR License Agreement with Vendor Amendment

CIVIX NAR License Agreement with Vendor Amendment

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Published by narwebteam

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Published by: narwebteam on Apr 10, 2012
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08/28/2013

 
MAY26,2011AMENDMENTTOMAY18,2011AGREEMENTBETWEENCIVIX-DDI.LLCANDNATIONALASSOCIATIONOFREALTORSThisAmendment("Amendment")iseffectivethis~dayofJune,2011(the"EffectiveDate")andisenteredintobyandbetween(i)NationalAssociationofRealtors,an
"
lllinoiscorporation,havingitsprincipalplaceofbusinessat430NorthMichiganAvenue,Chicago,Illinois60611(''NAR''),and
(ii)
CIVIX-DDI,LLC,aColoradolimitedliabilitycompany,havingaplaceofbusinessat1220PrinceStreet,Alexandria,Virginia22314("CIVIX").NARandCIVIXarecollectivelyreferredtoasthe"Parties,"andindividuallyasa"Party."RECITALSWHEREAS,NARandCIVIXenteredintoanAgreementeffectiveMay18,2011(''theNAR-CIVIXAgreement"),underwhichCIVIXgrantedNARtherighttogranttotheRealEstateIndustry(asdefinedinparagraph1.5oftheNAR-CIVIXAgreement)non-exclusivelicenseandotherrightsundertheCIVIXPatents(asdefinedinparagraph1.3oftheNAR-CIVIXAgreement)enumeratedinaFormLicenseAgreement(Exhibit1totheNAR-CIVIXAgreement)inexchangeforpaymentsandotherconsiderationspecifiedintheNAR-CIVIXAgreement;WHEREAS,paragraph2.1oftheNAR-CIVIXAgreementstatesinpartthat''NARshallusetheFormLicenseAgreementto
grant
non-exclusivelicenseandotherrightsundertheCIVIXPatentsonanMLS[asdefinedinparagraph1.6oftheNAR-CIVIXAgreement]byMLSbasisonlywhenNAR
has
paidCIVIXforallParticipants[asdefinedinparagraph1.7oftheNAR-CIVIXAgreement]insuchMLS";
 
WHEREAS,NARhasrequestedpermissiontograntnon-exclusivelicenseandotherrightsundertheCIVIXPatentsdirectlytoVendors(asdefinedbelow)providingLicensedVendorProductsandServices;WHEREAS,NARhasrequestedclarificationofitsexclusiverighttograntnon-exclusivelicenseandotherrightsundertheCIVIXPatents
in
theRealEstateIndustry(asdefined
in
paragraph1.5oftheNAR-CIVIXAgreement)ifandwhenNARmakestheaggregatepaymentofSevenMillionFiveHundredThousandU.S.Dollars($7,500,000)pursuanttoparagraph3oftheNAR-CIVIXAgreement;WHEREAS,CIVIXiswillingtoagreetoNAR'srequests;NOW,THEREFORE,
in
considerationoftheabovepremisesandmutualcovenantsofthePartiesherein,theParties,intendingtobelegallybound,agreeasfollows:
1.DEFINITIONS
InadditiontothetermsdefinedaboveandelsewhereinthisAmendment,thefollowingtermsshallhavethefollowingmeanings:1.1.ThedefinitionsintheNAR-CIVIXAgreementshallapplyherein.1.2."Affiliate(s)"shallmeananypartnership,corporation,limitedliabilitycompany,jointventurecontrolledbyVendor,where"control"meanstheownershipof50%ormoreoftheequityinterestsdirectlybyVendor,orindirectlythroughoneormoresubsidiariesofVendor,or50%ormoreofthevotingcontrolofsuchentity,ortheabilitytodirecttheaffairsofsuchentitywhetherbyownershipofsecurities,contractorotherwise.Affiliate(s)shallnotincludeCraigslist,CoStar,LoopNet,TruliaorZillow.
2
 
1.3."LicensedVendorProductsandServices"shallmeananyrealestate-relatedproducts,software,applications,databases,systemsorservicesmade,offered,provided,licensedorsoldbyorforVendororitsAffiliates.LicensedVendorProductsandServicesshallnotincludeproducts,software,applications,databases,systemsorservicesmade,offered,provided,licensedorsoldfornon-realestate-relateduses.Furthermore,LicensedVendorProductsandServicesshallnotincludeproducts,software,applications,databases,systemsorservicesmade,offered,provided,licensedorsoldto,byorforCraigslist,CoStar,LoopNet,TruliaorZillow.1.4"Vendor"shallmeananyvendorthatentersintoalicenseagreementwithNAR,includingtheirrespectiveofficers,directors,agents,employees,shareholders,predecessors,successors,assigns,subsidiariesandAffiliates.VendorshallnotincludeCraigslist,CoStar,LoopNet,TruliaorZillow.2.AMENDMENTS2.1.Thefollowingshallbeaddedto,andincorporatedinto,theNAR-CIVIXAgreementasparagraph2.1.1.:NARshallalsohavetherightto.granttoVendorstheCIVIXPatentsrights,includingtherelease,covenantnottosueandindemnificationrights,enumeratedintheformVendorPatentLicenseAgreementattachedheretoasExhibit2(hereinafter"VendorLicense").NAR'srighttograntsuchrightsundertheCIVIXPatentsislimitedtoLicensedVendorProductsandServicesofferedbyeachrespectiveVendortoitscustomersandendusers.NAR
shallusethe
VendorLicensettograntnon-exclusivelicenseandotherrightsundertheCIVIX
3

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