Common use of Variable component Clause in Contracts

Variable component. The variable component of the storage fee equals an amount per month equal to 1/12 of 1.5% of the aggregate cash value of Customer’s wines stored with Liquid Asset Storage per calendar year, determined as follows: an actual physical inventory taken of the contents of the containers as provided for below under “Inventory.” Sokolin shall supply itemized values listed on the inventory (stated values) based on the current US average retail market values. Such itemized stated values will be the value used for the foregoing 1.5% variable component and prorated in 15-day increments. For each additional case or box stored during the calendar year, a cash value will be established as provided above and the inventory list will be modified and prorated in 15-day increments.