Fees for Administrative Services. (a) Commencing on the Effective Date of this Agreement, and for each contract year thereafter, Holdings shall pay to Vxxxxx XX an annual fee (the “Administrative Services Fee”). The Administrative Services Fee shall be $500,000 per year, subject to adjustment as provided in Section 2.2(b).
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Samples: Administration Agreement (Valero Gp Holdings LLC), Administration Agreement (Valero L P), Administration Agreement (Valero Gp Holdings LLC)
Fees for Administrative Services. (a) Commencing on the Effective Date of this Agreement, and for each contract year thereafter, Holdings shall pay to Vxxxxx Xxxxxx XX an annual fee (the “Administrative Services Fee”). The Administrative Services Fee shall be $500,000 per year, subject to adjustment as provided in Section 2.2(b).
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