Vendor-defined is an optional modifier which is Used for publisher-defined entitlement such as token based. LM_A_CHECKOUT_DATA is a crucial part to make this work.
Token-based licensed vendor daemons, the checkouts/checkins are based on tokens instead of features. For example, a customer purchases some number of tokens from you in order to run the application "A1", the client needs to check out x number of tokens "t1". In license files, the tokens are defined in the FEATURE/INCREMENT lines. The clients check out the tokens in order to run the applications. In report logs, the checkout/checkin events are based on tokens as well.
An example for Token-Based Licensing:
1. The tokens "t1" and "t2" are defined in the license file.