Partial Program Fee Payment Provisions Sample Clauses

Partial Program Fee Payment Provisions. During the Term of this Agreement with respect to any partial year between June 1st of a given year and May 31st of the following year: (i) if termination of this Agreement occurs on or after June 1st, but prior to the start of the first full calendar month after the anniversary of the Effective Date, no partial Program Fee will be due; or (ii) if termination of this Agreement occurs after the start of the first full calendar month after the anniversary of the Effective Date, but prior to the subsequent May 31st, then a partial Program Fee will be due. The partial portion of $7.5 million Program Fee will be an amount equal to $625,000 multiplied by the number of full calendar months between the anniversary of the Effective Date and the date of termination of this Agreement.