Common use of Switch Services Clause in Contracts

Switch Services. Star agrees that, for a period of one year following the Closing Date, PT-1 will charge IDT not more than the fair market rate for termination of telecommunications traffic on or through any of the PT-1 switches that are presently used in the operation of the Business (including, without limitation, use of the debit card platform to be transferred by PT-1 to IDT pursuant to this Agreement until it is in full operation by IDT), and that such rates will not include any administrative or related overhead charge for the use of such switch (and platform). Notwithstanding the foregoing, PT-1 may (upon not less than 60-days' prior written notice to IDT) sell, transfer, otherwise convey or shut-down any such switch (or platform) at any time after the date which is six months following the Closing Date and IDT's rights under this Section 6 with respect to the relevant switch (and platform) will terminate on the later of (a) the 60th day following written notice from PT-1 to IDT of PT-1's intention to effect such sale, transfer, conveyance or shut-down and (b) the date of such sale, transfer, conveyance or shut-down.