Common use of Activation Fee Clause in Contracts

Activation Fee. For any new Cards sold with effective dates on or after the Effective Date of the Agreement, Agent will receive an activation fee as set forth in the Discount Card Product Fee Schedule below, or any subsequently published Discount Card Product Fee Schedule, which will apply as of the date applicable to the published fee schedule, and in conjunction with the timeframe in which the fees were earned by the Agent (“Activation Fees”). The Activation Fees will be paid to Agent on at least a quarterly basis, in the payment period following the initial activation date. Upon termination of this Agreement for any reason or for no reason, Renaissance shall determine the amount of any Activation Fees then due and owing to Agent, including for any applications submitted prior to the termination date, and shall make payment of that compensation in the quarter following the next regularly scheduled payment date. Thereafter, all obligations of Renaissance to pay any Activation Fees to Agent shall cease. Accounting. In connection with the Activation Fees paid to Agent, Agent shall be provided with a written statement detailing the number of initially activated Individuals during the preceding payment period, and indicating whether Agent is receiving Activation Fees for those Individuals. Discount Card Product Fee Schedule.$25 activation fee per Card, payable for initial activation only (no renewal payments will be made)