PROCESSING PLANS Sample Clauses

PROCESSING PLANS. The Customer shall have the right to choose one of five Customer Data processing plans (each, a “Plan”) based on their preference of License and Fee structure. a. Plan 1: The Term Payment Plan allows the Customer to purchase a certain amount of Miovision Platform usage, for the Term noted on the Sales Order Form. This Term shall be divided into Billing Periods and the number of Billing Period shall also be noted on the Sales Order Form. Under this Plan, the Customer is invoiced each Billing Period for the greater of: (i) 1/nth of the Term Payment Plan amount, with “n” being the total number of Billing Periods in the Plan, and (ii) the actual usage for the given Billing Period, with the balance of remaining Miovision Platform usage continuing to be reduced in this way until the Customer’s balance reaches zero. Any balance remaining in the Term Payment Plan expire at the end of the Term. Once the Customer’s Term Payment Plan is used in full, the Customer will thereafter be billed monthly for usage of the Miovision Platform at the Pay-As-You-Go rates (as defined above in Plan 2) until a new Term Payment Plan is purchased. b. Plan 2: Pay-As-You-Go allows the Customer to pay for actual Miovision Platform usage at the end of each month, at the agreed upon rate.