Common use of December 2004 Clause in Contracts

December 2004. Where there is a surplus in actual Total Net Clearing Revenue (which for this purpose alone shall be limited to Total Net Clearing Revenue which is net clearing revenue received by Clearnet in respect only of markets cleared by it as at the date of the Clearnet Business Plan dated 30 April 2003) as against such forecast Total Net Clearing Revenue for such calendar year, Clearnet shall pay an amount equivalent to such surplus, up to but not exceeding an amount of * in aggregate, to the Euronext Market Undertakings (in such proportions as may be requested in a joint written request by or on behalf of the Euronext Market Undertakings or, in the absence of such a written request, in Clearnet’s absolute discretion) within 30 days of 31 December 2004.