Volume Commitment Period definition
Examples of Volume Commitment Period in a sentence
The terms of the Agreement (excluding the Volume Commitment) will continue to apply during any service-specific commitments that extend beyond the Volume Commitment Period.
If, at the end of any Contract Year or Volume Commitment Period (as applicable), the Eligible Charges Customer has paid are less than the Volume Commitment, then Customer shall pay an Underutilization Charge equal to 75% of the shortfall (or other percentage detailed elsewhere in the Agreement).
Upon expiration of a Volume Commitment Period and/or Service Commitment (as applicable), the associated Service automatically continues until either Party terminates it under the terms of the Agreement.
Upon expiration of a Volume Commitment Period, the relevant Agreement is automatically extended on a month-to-month basis until either Party terminates it upon 60 days written notice.
Unless otherwise expressly set out in the Agreement, Verizon may change its Charges as follows: (a) for voice Services, upon seven days’ notice to Customer; and (b) for all other Services upon 30 days’ notice to Customer to take effect, (i) immediately for Services with no Purchase Commitment, or (ii) for Services with a Purchase Commitment at any time after the expiration of the Volume Commitment Period and/or Service Commitment (as applicable).
Volume Commitments auto-renew at the end of the initial Volume Commitment Period, unless a Party notifies the other of its intent not to renew at least 90 days before the end of the Volume Commitment Period.
Upon expiration of a Volume Commitment Period and/or Service Commitment (as applicable), the associated Service continues until either Party terminates it under the terms of the Agreement.
The renewed Volume Commitment and Volume Commitment Period will both be equal to what was in effect at the expiration of the initial Volume Commitment Period.
Unless otherwise expressly set out in the Agreement, Verizon may change its Charges as follows: (a) for voice Services, upon seven days’ notice to Customer; and (b) for all other Services upon not less than 30 days’ notice to Customer to take effect (i) immediately for Services with no Purchase Commitment, or (ii) at any time after the expiration of the Volume Commitment Period and/or Service Commitment (as applicable) for Services with a Purchase Commitment.
If applicable, Customer agrees to pay Verizon the amount of Eligible Charges during Volume Commitment Period that is no less than the Total Volume Commitment or TVC identified in its Agreement.