Common use of Deferred Fee Clause in Contracts

Deferred Fee. If the term of this Agreement is not extended by IWO pursuant to Section 5(a) hereof and is not terminated by USU, IWO will pay USU a deferred fee of $1,500,000.00 at the end of the term of this Agreement. If the term of the Agreement is extended by IWO pursuant to Section 5(a) hereof and is not terminated by USU, IWO will pay USU a deferred fee of $500,000.00 at the end of the extended term. This deferred fee shall be in lieu of any early termination fee provided in Section 4(f), and in no event will USU receive both an early termination fee and a deferred fee.