Fee Term Sample Clauses
A Fee Term clause defines the payment structure, timing, and conditions under which fees are to be paid between parties in an agreement. It typically outlines the amount due, the schedule for payments (such as monthly, upon completion of milestones, or upfront), and any applicable late fees or penalties for non-payment. By clearly specifying these details, the clause ensures both parties understand their financial obligations, reducing the risk of disputes over payments and providing a clear framework for managing compensation.
Fee Term. The applicable term of this Fee Agreement shall be measured for each Stage beginning from the last day of the property tax year in which the Project is placed in service in that Stage through the last day of the property tax year which is the nineteenth year following such year; provided, that the maximum term of this Fee Agreement shall not be more than 20 years from the end of the last year of the Investment Period (“Fee Term”). This Fee Agreement shall terminate with respect to the Project or any Stage or part thereof upon the earlier to occur of (a) payment of the final installment of Payments-in-Lieu-of-Taxes pursuant to Section 5.1 hereof, or (b) exercise by the Company of its option to terminate pursuant to Section 10.1 hereof.
Fee Term. The applicable term of this Fee Agreement shall be measured for each Stage beginning from the last day of the property tax year in which the Project is placed in service in that Stage through the last day of the property tax year which is the thirty-ninth year following such year; provided, that the maximum term of this Fee Agreement shall not be more than 40 years from the end of the last year of the Investment Period. This Fee Agreement shall terminate with respect to the Project or any Stage or part thereof upon the earlier to occur of (a) payment of the final installment of Payments-in-Lieu-of- Taxes pursuant to Section 5.1 hereof, or (b) exercise by the Company or the Sponsor Affiliates, as applicable, of its option to terminate pursuant to Section 10.1 hereof.
Fee Term. With respect to each Stage of the Project, the applicable term of this Fee Agreement shall be from the first day of the property tax year in which such Stage is placed in service through the last day of the property tax year which is the thirtieth (30th) year following such year; provided, that the maximum term of this Fee Agreement shall not be more than 30 years from the end of the last year of the Investment Period. This Fee Agreement shall terminate with respect to the Project or any Stage or part thereof upon the earlier to occur of
(a) payment of the thirtieth installment of Payments-in-Lieu-of-Taxes with respect to the last Stage of the Project in accordance with Section 5.1 hereof and of any other amounts payable to the County under this Fee Agreement, or (b) exercise by the Company of the option to terminate pursuant to Section 10.1 hereof.
Fee Term. The applicable term of this Fee Agreement shall be measured for each Stage beginning from the last day of the property tax year in which such Stage of the Project is placed in service through the last day of the property tax year which is the twenty-ninth year following such year; provided, that the maximum term of this Fee Agreement shall not be more than thirty years from the end of the last year of the Investment Period. This Fee Agreement shall terminate, as to the Negotiated Payments-in-Lieu-of-Taxes arrangement, with respect to the Project or any Stage or part thereof, upon the earlier to occur of (a) payment of the final installment of Negotiated Payments-in-Lieu-of-Taxes pursuant to Section 5.1 hereof, or (b) exercise by the Company of its option to terminate pursuant to Section 10.1 hereof.
Fee Term. The applicable term of this Fee Agreement shall be measured for each Stage beginning from the last day of the property tax year in which the Project is placed in service in that Stage through the last day of the property tax year which is the nineteenth year following such year; provided, that the maximum term of this Fee Agreement shall not be more than 30 years from the end of the last year of the Investment Period unless the term of this Fee Agreement is extended pursuant to Section 3.2(b) and this Section 5.3. This Fee Agreement shall terminate with respect to the Project or any Stage or part thereof upon the earlier to occur of (a) payment of the final installment of Payments-in-Lieu-of-Taxes pursuant to Section 5.1 hereof, or (b) exercise by the Company of its option to terminate pursuant to this Section 5.3. From time to time (including without limitation any time during which there may be a subsisting an Event of Default) and at any time upon at least 30 days notice, the Company may terminate this Fee Agreement with respect to the entire Project or any portion thereof. Upon termination of all or part of this Fee Agreement, the Company will become liable for ad valorem property taxes on the Project or such portion thereof as is so terminated from inclusion in the Project, as well as for any amounts already due and owing under this Fee Agreement, which latter amounts, if any, shall be paid to the County with the next installment of Payments-in-Lieu- of-Taxes pursuant Section 5.1, or, if the termination is of the entire Project, then within 120 days of termination.
Fee Term. Upon execution of this Agreement, the Company agrees to pay the --------- Bank a license as specified in the Bank's pricing schedule, receipt of which is hereby acknowledged by the Company. This Agreement shall commence on the Effective Date and shall remain in effect for the term of the ACH Agreement, unless canceled by either party upon prior written notice to the other party. Upon termination of this Agreement, the Company shall immediately return to the Bank all copies of the Software, the Documentation, and, if applicable, the Tutorial System.