TFMC Sample Clauses
The TFMC clause, or Total Fixed Monthly Charge clause, defines the fixed monthly payment that a party is obligated to pay under a contract, regardless of actual usage or variable costs. In practice, this clause sets a predetermined monthly fee for services such as telecommunications, utilities, or equipment leasing, ensuring that the service provider receives a consistent payment each month. By establishing a clear and unchanging monthly charge, the TFMC clause provides predictability for both parties and simplifies billing, thereby reducing disputes over fluctuating costs and ensuring stable revenue for the provider.
TFMC. If TFMC is acquired by (whether by sale of assets, sale of stock, or otherwise) or merged with or into a Competitor of TEN, TEN may require TFMC, upon written notice, to cease all use of any Technip-Formative Marks within twelve (12) months after the date of completion of such transaction, and TFMC shall not thereafter use or adopt any Technip-Formative Marks. TEN may also require in such notice that TFMC shall either (i) expressly abandon any pending applications for the registration of any Technip-Formative Marks, (ii) surrender for cancellation any registrations of any Technip-Formative Marks, or (iii) at TEN’s option, assign any Technip-Formative Marks and the applicable applications or registrations to TEN. Subject to the survival of the foregoing covenant, this Agreement will terminate with immediate effect. Upon any such termination, the following provisions will survive: Sections 1.1(b), 1.2,(b), and 5.2(b), and Articles IV, VI, and VII. For purposes of the surviving provisions, any such Technip-Formative Marks assigned to TEN shall be deemed to be TEN Marks.