Common use of Early Termination Fees Clause in Contracts

Early Termination Fees. The parties agree that if this Agreement is terminated by Merchant before completion of the Initial Term for any reason other than a material uncured breach by Provider, Merchant will pay Provider an early termination fee determined by multiplying (a) the number of months remaining from the date of termination to the end of the Initial Term, by (b) the average monthly processing fees paid by Merchant to Provider, plus Provider’s costs and attorneys’ fees incurred in connection with Merchant’s termination of this Agreement. Early Termination Fees shall not exceed $2,500. Merchant agrees that these damages are not a penalty, but are a reasonable computation of the financial harm caused by the early termination of this Agreement.

Early Termination Fees. The parties agree that if this Agreement is terminated by Merchant before completion of the Initial Term for any reason other than a material uncured breach by ProviderProcessor, Merchant will pay Provider Processor an early termination fee determined by multiplying (a) the number of months remaining from the date of termination to the end of the Initial Term, by (b) the average monthly processing fees paid by Merchant to ProviderProcessor, plus ProviderProcessor’s costs and attorneys’ fees incurred in connection with Merchant’s termination of this Agreement. Early Termination Fees shall not exceed $2,500. Merchant agrees that these damages are not a penalty, but are a reasonable computation of the financial harm caused by the early termination of this Agreement.

Early Termination Fees. The parties agree that if this Agreement is terminated by Merchant before completion of the Initial Term for any reason other than a material uncured breach by Provider, Merchant will pay Provider an early termination fee determined by multiplying (a) the number of months remaining from the date of termination to the end of the Initial Term, by (b) the average monthly processing fees paid by Merchant to Provider, plus Provider’s costs and attorneys’ fees incurred in connection with MerchantXxxxxxxx’s termination of this Agreement. Early Termination Fees shall not exceed $2,500. Merchant Xxxxxxxx agrees that these damages are not a penalty, but are a reasonable computation of the financial harm caused by the early termination of this Agreement.