Common use of Group Discounts Clause in Contracts

Group Discounts. If a group discount has been agreed the affiliates of the group will be granted the discount in accordance with the terms of this clause. Affiliated group companies are deemed businesses in which the company with which the group discount was agreed, directly or indirectly holds the majority of voting rights. The company claiming the discount has to evidence the affiliated status within one month after the advertisement placement order, in suitable form (e.g. auditor’s or notary’s confirmation or submission of a current excerpt from the commercial register). If the proof is submitted later the discount will not be applied retroactively to advertisement placement orders made earlier. Upon the termination of the group affiliation as defined herein, the group discount will automatically cease to apply to the relevant company; any termination of the group affiliation must be notified to the publishing house in writing without delay.

Group Discounts. If a group discount has been agreed the affiliates of the group will be granted the discount in accordance with the terms of this clause. Affiliated group companies are deemed businesses in which the company with which the group discount was agreed, directly or indirectly holds the majority of voting rights. The company claiming the discount has to evidence the affiliated status within one month after the advertisement placement order, in suitable form (e.g. auditor’s or notary’s confirmation or submission of a current excerpt from the commercial register). If the proof is submitted later the discount will not be applied retroactively to advertisement placement orders made earlier. Upon the termination of the group affiliation as defined herein, the group discount will automatically cease to apply to the relevant company; any termination of the group affiliation must be notified to the publishing house in writing without delay.