Fees Owing Clause Samples
The "Fees Owing" clause defines the obligation of one party to pay any outstanding fees that are due under the agreement. It typically specifies when and how unpaid fees must be settled, such as upon termination of the contract or at specified intervals. This clause ensures that all financial obligations are clearly addressed, preventing disputes over unpaid amounts and providing a mechanism for the recovery of fees that remain outstanding.
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Fees Owing. Upon termination or expiration of this Agreement, any Fees that have accrued at the time of termination or expiration, remain owing to Licensor, including any Renewal Fee that has accrued in the event that Licensee fails to provide notice of exercise of its option to forego the Renewal Term within the time limit set by Paragraph H, and shall be paid to, or as directed by, Licensor on the effective date of such termination or expiration of this Agreement, as the case may be.