Common use of Payment and Term Clause in Contracts

Payment and Term. Vendor hereby agrees to pay Signature an annual membership fee in the amount of six hundred and ninety-five and no/100 dollars ($695.00) per year (hereinafter referred to as “Membership Fee”). This Agreement shall remain in effect for one (1) year, beginning on the Effective Date. This Agreement shall renew automatically for consecutive one (1) year periods (hereinafter collectively referred to as, the “Term”), unless it is terminated at least thirty (30) calendar days before the expiration of the then-current Term. In the event of a material breach of this Agreement by Vendor (including non-payment of the Membership Fee), Vendor shall have seven (7) calendar days to cure such breach from the date the Vendor receives written notice from Signature of such material breach. If Vendor fails to cure such breach with seven (7) calendar days, Signature may immediately terminate this Agreement. This Agreement may otherwise be terminated by either Party with fourteen (14) calendar days’ written notice (email shall suffice) to the other Party. The Membership Fee is non-refundable for any reason whatsoever.

Payment and Term. Vendor hereby agrees to pay Signature an annual membership fee in the amount of six five hundred and ninety-five and no/100 dollars ($695.00595.00) per year (hereinafter referred to as “Membership Fee”). This Agreement shall remain in effect for one (1) year, beginning on the Effective Date. This Agreement shall renew automatically for consecutive one (1) year periods (hereinafter collectively referred to as, the “Term”), unless it is terminated at least thirty (30) calendar days before the expiration of the then-current Term. In the event of a material breach of this Agreement by Vendor (including non-payment of the Membership Fee), Vendor shall have seven (7) calendar days to cure such breach from the date the Vendor receives written notice from Signature of such material breach. If Vendor fails to cure such breach with seven (7) calendar days, Signature may immediately terminate this Agreement. This Agreement may otherwise be terminated by either Party with fourteen (14) calendar days’ written notice (email shall suffice) to the other Party. The Membership Fee is non-refundable for any reason whatsoever.