Common use of Underutilization and Early Termination Charges Clause in Contracts

Underutilization and Early Termination Charges. If Customer’s Total Service Charges do not reach the AVC during any Contract Year. Customer shall pay an “Underutilization Charge” equal to 100% of the unmet AVC. If Customer’s Total Service Charges do not reach the AVC during the Contract Year because the Agreement is terminated early by Customer without Cause or by Company with Cause, Customer shall pay all accrued but unpaid charges incurred through the date of such termination and an “Early Termination Charge” equal to 100% of the unmet AVC plus a pro rata portion of any credits received by Customer. Option 337338, Sept 12 Initial Term: 36 months Upon expiration of the Term, the Agreement will be automatically extended on a month-to-month basis unless either party terminates the Agreement upon at least sixty (60) days written notice prior to the end of the Initial Term (“Extended Term”). Annual Volume Commitment (“AVC”): Customer agrees to pay Company no less than $285,000 in Total Service Charges in each twelve-month period during the Initial Term.

Appears in 1 contract

Samples: enterprise.verizon.com

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Underutilization and Early Termination Charges. If Customer’s 's Total Service Charges do not reach the AVC during in any Contract Year. Year during the Initial Term, Customer shall pay an "Underutilization Charge" equal to 10050% of the unmet AVCAVC for that Contract Year. If Customer’s 's Total Service Charges do not reach the AVC during the in any Contract Year because the Agreement is terminated early by the Customer without Cause or by Company with Cause, Customer shall pay all accrued but unpaid charges incurred through the date of such termination and an “Early Termination Charge” equal to 10050% of the unmet AVC plus a pro rata portion of any credits received by Customer. Option 337338, Sept 12 Initial TermPayment Arrangements: 36 months Upon expiration of the Term, the Agreement will be automatically extended on a month-to-month basis unless either party terminates the Agreement upon at least sixty (60) days written notice prior to the end of the Initial Term (“Extended Term”). Annual Volume Commitment (“AVC”): Customer agrees to pay all Company no less than $285,000 charges (except Disputed amounts, as defined below) within thirty (30) days of invoice date. Customer agrees to pay a late payment charge equal to the lesser of: (a) one and one-half percent (1.5%) per month, or (b) the amount indicated in Total a Service Charges in each twelve-month period during Attachment, or (c) the Initial Term.maximum amount allowed by applicable law, as applied against the past due amounts. Credits:

Appears in 1 contract

Samples: enterprise.verizon.com

Underutilization and Early Termination Charges. If Customer’s Total Service Charges do not reach the AVC in any contract year during any Contract Year. the Initial Term; Customer shall pay an “Underutilization Charge” equal to 10025% of the unmet AVC. If Customer’s Total Service Charges do not reach the AVC during the Contract Year in any contract year because the Agreement is terminated early by Customer without Cause or by Company with Cause, Customer shall pay all accrued but unpaid charges incurred through the date of such termination and an “Early Termination Charge” equal to 10025% of the unmet AVC plus a pro rata portion of any credits received by Customer. Option 337338Credit: One-Time Credit: Customer will receive a credit equal to $20,000, Sept 12 applied against Customer's designated Service Charges incurred for Interstate and International Services and any other services mutually agreeable by Company and Customer/. Promotion: The Customer is eligible for the following promotion as set forth in the Guide: On The Network V Lit Building Access Promotion OPTION NO. 53978703, (rev. July 14, Amendment 21) Initial Term: 36 60 months following the expiration of the Ramp Period. Upon expiration of the Term, the Agreement will be automatically extended on a month-to-month basis unless either party terminates the Agreement upon at least sixty (60) days written notice prior to the end of the Initial Term (“Extended Term”). Annual Volume Commitment During the Extended Term, either party may terminate the Agreement upon at least sixty (“AVC”): Customer agrees to pay Company no less than $285,000 in Total Service Charges in each twelve-month period during the Initial Term60) days prior written notice.

Appears in 1 contract

Samples: enterprise.verizon.com

Underutilization and Early Termination Charges. If Customer’s Total Service Charges do not reach the AVC during in any Contract Year. Year during the Initial Term, Customer shall pay an “Underutilization Charge” equal to 100% of the unmet AVC. If Customer’s Total Service Charges do not reach the AVC during the in any Contract Year because the Agreement is terminated early by Customer without Cause or by Company with Cause, Customer shall pay all accrued but unpaid charges incurred through the date of such termination and an “Early Termination Charge” equal to 10040% of the unmet AVC for the year of termination and each subsequent Contract Year remaining in the Term plus a pro rata portion of any credits received by Customer. Option 337338, Sept 12 Initial OPTION NO 54381802 Term: 36 24 months following the expiration of the Ramp Period Upon expiration of the Term, the Agreement will be automatically extended on a month-to-month basis unless either party terminates the this Agreement upon at least sixty (60) days written notice prior to the end of the Initial Term (“Extended Term”). Annual Volume Commitment During the Extended Term, either party may terminate this Agreement upon at least sixty (“AVC”): Customer agrees to pay Company no less than $285,000 in Total Service Charges in each twelve-month period during the Initial Term60) days prior written notice.

Appears in 1 contract

Samples: enterprise.verizon.com

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Underutilization and Early Termination Charges. If Customer’s Total Service Charges do not reach the AVC in any contract year during any Contract Year. the Initial Term, Customer shall pay an “Underutilization Charge” equal to 10025% of the unmet AVC. If Customer’s Total Service Charges do not reach the AVC during the Contract Year in any contract year because the Agreement is terminated early by Customer without Cause or by Company with Cause, Customer shall pay all accrued but unpaid charges incurred through the date of such termination and an “Early Termination Charge” equal to 10025% of the unmet AVC plus a pro rata portion of any credits received by Customer. Option 337338Credit: One-Time Credit: Customer will receive a credit equal to $20,000, Sept 12 applied against Customer's designated Service Charges incurred for Interstate and International Services and any other services mutually agreeable by Company and Customer/. Promotion: The Customer is eligible for the following promotion as set forth in the Guide: On The Network V Lit Building Access Promotion OPTION NO. 53978703, (rev. May 11, Amendment 17) Initial Term: 36 60 months following the expiration of the Ramp Period. Upon expiration of the Term, the Agreement will be automatically extended on a month-to-month basis unless either party terminates the Agreement upon at least sixty (60) days written notice prior to the end of the Initial Term (“Extended Term”). Annual Volume Commitment During the Extended Term, either party may terminate the Agreement upon at least sixty (“AVC”): Customer agrees to pay Company no less than $285,000 in Total Service Charges in each twelve-month period during the Initial Term60) days prior written notice.

Appears in 1 contract

Samples: enterprise.verizon.com

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