Common use of Privilege Fee Clause in Contracts

Privilege Fee. For the privilege of having the right to use the Trademarks under the terms and conditions of this Agreement, Licensee agrees to pay to Licensor annually during the term of this Agreement a privilege fee (the "Privilege Fee") equal to $4,227,000 per fiscal year without regard to the level of Licensee's sales volume during such fiscal year. The first annual Privilege Fee shall be due and payable on the execution and delivery of this Agreement, and, thereafter, the annual Privilege Fee shall be due and payable annually on the first (1st) day of the fourth (4th) fiscal quarter of each fiscal year (based upon a fiscal year which ends on the Saturday nearest to the last day of January of each year). The Privilege Fee shall not be pro-rated or refunded to Licensee.

Privilege Fee. For the privilege of having the right to use the Trademarks under the terms and conditions of this Agreement, Licensee agrees to pay to Licensor annually during the term of this Agreement a privilege fee (the "Privilege Fee") equal to $4,227,000 50,000 per fiscal year per Store without regard to the level of Licensee's sales volume during such fiscal year. The first annual Privilege Fee shall be due and payable on the execution and delivery of this Agreement, and, thereafter, the annual Privilege Fee shall be due and payable annually on the first (1st) day of the fourth (4th) fiscal quarter of each fiscal year (based upon a fiscal year which ends on the Saturday nearest to the last day of January of each year). The Privilege Fee shall not be pro-rated or refunded to Licensee.