Not sure about the very last sentence but the rest is fairly standard in the software licensing world.
It simply refers to the financial recognition of the licence fee into the accounts as revenue. In the old days the 10 mill would have been booked upfront in year one, this method more accurately reflects modern accounting practices as introduced in the US with the Sarbanes-Oxley Act of 2002 .
As to what TPG have an exclusive licence to sell remains a mystery to me.
CVT Price at posting:
15.5¢ Sentiment: Hold Disclosure: Held
