Common use of Time & Materials Clause in Contracts

Time & Materials. If a Commercial Agreement provides for payment of Professional Services fees on a time and materials (or “T&M”) basis, the Professional Services shall be provided at QIVOS’ T&M rates in effect as of the Implementation Start Date. On a T&M engagement, if an estimated total amount is stated in the applicable Commercial Agreement, that amount is solely a good faith estimation for Customer’s budgeting and QIVOS’ resource scheduling purposes and not a guarantee that the Professional Services will be completed for that amount; the actual amount may be higher or lower. If the estimated amount is expended, QIVOS will continue to provide Professional Services on a T&M basis under the same rates and terms.