Common use of Grace Period and Initial True Up Clause in Contracts

Grace Period and Initial True Up. The parties acknowledge that the Participating Institutions currently exceed the level of Named Users and Bibliographic Titles subscribed under this Subscription Agreement and set forth above (the “Subscribed Parameters”). Ex Libris agrees to provide a grace period until March 31, 2021 to provide the Participating Institutions with the opportunity to reduce their collective usage to meet the Subscribed Parameters without charging for such excess. Following March 31, 2021, Ex Libris shall measure the actual usage and to the extent the actual usage of the SaaS Services exceeds the Subscribed Parameters, the annual Subscription Fees and Subscribed Parameters under this Agreement shall be increased by such excess in accordance with the growth prices set forth above in Section 3(e). Solely with respect to the period from January 1 through December 31, 2021, the full amount of such increase DocuSign Envelope ID: FD258E1D-4866-445B-B2A0-411F1F172E10 in Subscription Fees shall be added to, and payable as part of, the second invoice and payment of Subscription Fees (due July 15, 2021) as set forth in Section 4(a) below.

Grace Period and Initial True Up. The parties acknowledge that the Participating Institutions currently exceed the level of Named Users and Bibliographic Titles subscribed under this Subscription Agreement and set forth above (the “Subscribed Parameters”). Ex Libris agrees to provide a grace period until March 31, 2021 to provide the Participating Institutions with the opportunity to reduce their collective usage to meet the Subscribed Parameters without charging for such excess. Following March 31Xxxxx 00, 20210000, Ex Xx Libris shall measure the actual usage and to the extent the actual usage of the SaaS Services exceeds the Subscribed Parameters, the annual Subscription Fees and Subscribed Parameters under this Agreement shall be increased by such excess in accordance with the growth prices set forth above in Section 3(e). Solely with respect to the period from January 1 through December 31, 2021, the full amount of such increase DocuSign Envelope ID: FD258E1D-4866-445B-B2A0-411F1F172E10 in Subscription Fees shall be added to, and payable as part of, the second invoice and payment of Subscription Fees (due July 15, 2021) as set forth in Section 4(a) below.