Common use of Fees, Reporting and Payment Clause in Contracts

Fees, Reporting and Payment. 7.1 Licensee shall pay all Fees and other sums due to NZX by the due date as advised to the Licensee from time to time, in accordance with XXX Schedule 3 and the payment requirements specified in XXX Schedule 4. Such fees paid are non-refundable. NZX may add to or change the Fees from time to time upon no less than ninety (90) Days written notice, with changes to be effective on the first day of a calendar quarter. 7.2 NZX may propose changes to Fees on shorter notice, for example to reduce Fees or introduce alternative Fee structures. Licensee shall be under no obligation to accept such shorter notice proposed changes until the first day of the calendar quarter following ninety (90) Days from the date of the notice of change and may continue to pay Fees at existing rates during the intervening period.