Common use of Holdover Term Clause in Contracts

Holdover Term. If Licensee fails to remove the Approved Equipment at the expiration of the Term, such failure shall be deemed to extend the Term of this Agreement on a month-to-month basis under the same terms and conditions herein except that (i) a monthly license fee shall be due on or before the first day of every calendar month during such month-to-month term in an amount equal to one hundred fifty percent (150%) of the Monthly License Fee in effect for the last month of the Term prior to the commencement of such month-to-month term (“Holdover Fee”), such Holdover Fee to escalate annually on the anniversary of the Commencement Date by an amount equal to six percent (6%) of the Holdover Fee in effect for the month immediately prior to the month in which such escalation takes place, and (ii) the month-to-month extension shall be terminable upon fifteen (15) days’ prior written notice from either Licensor or Licensee to the other; provided, however, nothing contained herein shall grant Licensee the unilateral right to extend the Term of this Agreement after the expiration of the Term. In addition to the monthly license fee payable to Licensor in the event of an extension under this Subsection 6(c), Licensee agrees to indemnify and hold Licensor harmless from any Damages arising out of or in connection with the extension, the operation of the Approved Equipment at the Tower Facility and Licensee’s failure to perform all of its obligations under this Agreement at the termination or earlier expiration of this Agreement.

Holdover Term. If Licensee fails to remove the Approved Equipment at the expiration of the Term, such failure shall be deemed to extend the Term terms of this Agreement on a month-to-month basis under the same terms and conditions herein except that (i) a monthly license fee Monthly License Fee shall be due on or before the first day of every calendar month during such month-to-month term in an amount equal to one hundred fifty percent (150%) % of the Monthly License Fee in effect for the last month of the Term prior to the commencement of such month-to-month term (“Holdover Fee”), such Holdover Fee to escalate annually on the anniversary of the Commencement Date by an amount equal to six percent (6%) % of the Holdover Fee in effect for the month immediately prior to the month in which such escalation takes place, and (ii) the month-to-month extension shall be terminable upon fifteen (15) 15 days’ prior written notice from either Licensor or Licensee to the other; provided, however, nothing contained herein shall grant Licensee the unilateral right to extend the Term of this Agreement after the expiration of the Term. In addition to the monthly license fee Monthly License Fee payable to Licensor in the event of an extension under this Subsection subsection 6(c), Licensee agrees to indemnify and hold Licensor harmless from any Damages arising out of or in connection with the extension, the operation of the Approved Equipment at the Tower Facility and Licensee’s failure to perform all of its obligations under this Agreement at the termination or earlier expiration of this Agreement.

Holdover Term. If Licensee fails to remove the Approved Equipment at the expiration of the Term, such failure shall be deemed to extend the Term terms of this Agreement on a month-to-month basis under the same terms and conditions herein except that (i) a monthly license fee Monthly License Fee shall be due on or before the first day of every calendar month during such month-to-month term in an amount equal to one hundred fifty percent (150%) % of the Monthly License Fee in effect for the last month of the Term prior to the commencement of such month-to-month term (“Holdover Fee”), such Holdover Fee to escalate annually on the anniversary of the Commencement Date by an amount equal to six percent (6%) % of the Holdover Fee in effect for the month immediately prior to the month in which such escalation takes place, and (ii) the month-to-month extension shall be terminable upon fifteen (15) days’ prior written notice from either Licensor or Licensee to the other; provided, however, nothing contained herein shall grant Licensee the unilateral right to extend the Term of this Agreement after the expiration of the Term. In addition to the monthly license fee Monthly License Fee payable to Licensor in the event of an extension under this Subsection subsection 6(c), Licensee agrees to indemnify and hold Licensor harmless from any Damages arising out of or in connection with the extension, the operation of the Approved Equipment at the Tower Facility and Licensee’s failure to perform all of its obligations under this Agreement at the termination or earlier expiration of this Agreement.