Common use of VOD Clause in Contracts

VOD. Licensee shall pay the VOD License Fees for each VOD/SVOD Avail Year as follows: (a) for VOD/SVOD Avail Year 1, 100% of the VOD Annual Minimum Fee upon the full execution of this Agreement, and (b) for VOD/SVOD Avail Years 2, 3 (if applicable), and 4 (if applicable), 100% of the applicable VOD Annual Minimum Fee no later than 60 days prior to the start of each such VOD/SVOD Avail Year. Each payment of the VOD Annual Minimum Fee for a VOD/SVOD Avail Year shall be applied against the aggregate total of all VOD Per-Program License Fees earned for all VOD Included Programs with a VOD Availability Date in such VOD/SVOD Avail Year. If the aggregate total of all actual VOD Per-Program License Fees due and payable for a VOD/SVOD Avail Year exceeds the amount of the VOD Annual Minimum Fee, such excess amount is the “VOD Overage.” For purposes of calculating the VOD Overage, VOD Per-Program License Fees shall be converted from the applicable foreign currency into US Dollars at the exchange rate published by The Wall Street Journal (“WSJ Rate”) on the first Business Day of the month in which such VOD Per-Program License Fees are earned (e.g., all VOD Per-Program License Fees earned during the month of October shall be converted to US Dollars using the WSJ Rate published on the first Business Day of October). Licensee shall pay any VOD Overage in US Dollars in accordance with Section 7.1 of Schedule A within 30 days after the end of the month during which the VOD Subscriber Transaction giving rise to such VOD Overage occurs.