Common use of Annual Participation Fee Clause in Contracts

Annual Participation Fee. Each InCommon Participant, including Participant, shall be required to pay annual fees (“Annual Participation Fees”), as defined in the attached InCommon Fee Schedule. Participant acknowledges that the Annual Participation Fees may be modified by the InCommon Steering Committee, as necessary, to support the management and operations of InCommon and to respond to the needs of new applications and services. The Annual Participation Fees shall be annually assessed and payable on or before January 1st of each year, unless either the Participant or InCommon has given written notice of termination of this Agreement at least 90 days prior to January 1 or within 30 days from the date of notice of Annual Participation Fees, whichever is later.