Globet shall pay you (in accordance with the provisions of clause 6.4) the currently published percentage (as detailed on the commission page of your Globet Affiliate account) of Net Revenues (as defined below) received during the Term (as defined below).
6.2 "Net Revenues" shall mean all gross monies received by Globet from Customers through the Globet Site less all of the following: (i) monies paid out to Customers as winnings; (ii) monies paid in the form of betting duties or taxes or other statutory deductions; (iii) bad debts; (iv) monies attributed to fraud;
(v) returned stakes; (vi) provisions for transactions which are reversed by instruction from the card-holder's bank (commonly referred to as charge-backs); (vii) any monies received from Customers who bet with Globet via a platform owned or operated by a third party; (viii) the cost of ‘bonuses’, 'free bets' or 'free chips' provided to Customers as a promotional or marketing activity; and (x) any Third Party Royalty which any member of Globet must pay in respect of any Customers.
Royalty
"Third Party Royalty" shall mean any royalty or revenue share which Globet must pay to a third party in order to lawfully exploit any technology or other product used from time to time on the Globet Site. "Customers" shall mean visitors from the Partner Site who enter the Globet Site via the Links and who provide registration information to Globet (including without limitation the provision of a valid email address) and for whom Globet opens an account and such visitor places a bet with Globet and is not at that time an existing customer of Globet or any other company within Globet’s Group. For the purposes of this Agreement
6.3 Globet shall provide you with statements accessible through the website at www.globet.com detailing the number of Customers and your share of Net Revenues, if any, which have accrued to you over the course of four (4) weeks. At the end of the four (4) week period, Globet shall record your total share of Net Revenues, if any, during the previous four (4) weeks ("Revenue Share"). In the event that a Revenue Share in any four (4) week period is a negative amount, Globet shall be entitled but not obliged to carry forward and set off such negative amount against future Revenue Shares which would otherwise be payable to you.
Negative balance
However Globet shall also be entitled but not obliged to zero the negative balance that would otherwise be carried forward. If a Revenue Share does not exceed 100 Euros, Globet shall be entitled to withhold and carry forward such sum until the end of the first calendar month in which the Revenue Share (including such carried forward sum) exceeds 100 Euros, at which time payment shall be made in accordance with clause 6. 6. For the avoidance of doubt, you will only receive a payout when there is a positive balance and it is greater than 100 Euros in any given four (4) week period.
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6.5 If an error is made in the calculation of your share of the Revenue Share, Globet reserves the right to correct such calculation at any time and to reclaim from you any overpayment made by Globet to you (including, without limitation, by way of reducing future payments which might otherwise be due to you from us from time to time).
7. Intellectual Property
7.1 Globet grants you a non-exclusive and worldwide licence to display the Globet brand features during the Term solely for the purposes of the display of the Links by you on the Partner Site as set out in this Agreement and in accordance with Globet’s guidelines as may be provided to you from time to time. All intellectual property rights and any goodwill arising in the Links and in all products, associated systems and software relating to the services provided by Globet to its customers from time to time shall remain the property of Globet .
You are not permitted to use the Globet brand in any way that is detrimental to Globet or the reputation or goodwill of Globet. You are not permitted to alter or modify in any way the Globet brand without the express prior written consent of Globet.
7.2 You agree that the Partner Site shall not resemble in any way the look and/or feel of the Globet Site, nor will you create the impression that the Partner Site is the Globet Site (or any part thereof).
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