Legal Term
Vending Machine Revenue Share Agreement
Legal Definition
A binding contract where a property owner (licensor) permits a vending machine operator (licensee) to install and operate vending equipment on the owner's premises, in exchange for a predetermined percentage of the gross or net revenue generated from sales, with terms governing payment, audits, and termination.
In Plain English
An agreement where you let someone put a vending machine in your space (like an office or store) and you get a percentage of the money from every snack or drink sold, without running the machine yourself.
Example in a Contract
Section 3. Revenue Share. Operator shall pay Licensor a revenue share equal to fifteen percent (15%) of Gross Sales (defined as total sales before any deductions) from the Vending Machine. Payments are due on the 5th day of each month for the preceding calendar month, accompanied by a sales report. Licensor may audit Operator's records annually with fifteen (15) days' notice.
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