Licence Fee Payable Clause Samples
The 'Licence Fee Payable' clause defines the obligation of the licensee to pay a specified fee to the licensor in exchange for the rights granted under the licence agreement. This clause typically outlines the amount, frequency, and method of payment, and may address issues such as late payment penalties or adjustments to the fee over time. Its core practical function is to ensure that the licensor receives agreed compensation for the use of their intellectual property or assets, thereby providing financial clarity and reducing the risk of disputes over payment.
Licence Fee Payable. The Licence Fee (set out in the Memorandum of Permitted Purpose) is comprised of the "Redistribution Fee", the "Connection Fee" and the "Subscriber Fee" (as applicable). The Licence Fee is computed based on the Fee Schedule.
Licence Fee Payable. 3.1 The Proprietor will pay the Licence Fee to the Council. The Licence Fee for the period from the Commencement Date to the next occurring 30 June will be the amount referred to the Tamworth Regional Council Management Plan for the current financial year.
3.2 The Licence Fee in Item 3 must be paid on or before the Commencement Date unless the Council agrees to accept payment at a later date.
3.3 The Licence Fee for each financial year after the Commencement Date will be determined at the absolute discretion of the Council. The reviewed Licence Fee will be payable from the beginning of each financial year notwithstanding that the actual fee may not be determined by the Council at that date.
3.4 The Licence Fee for each financial year after commencement of the Licence must be paid within four (4) weeks of Council giving the Proprietor a notice specifying the amount payable.
3.5 The Licence Fee is a non refundable payment. Without detracting from the general nature of this term it is specifically agreed that no part of the Licence Fee is refundable in the event that the Proprietor does not or cannot use the Site for the full period during which the Licence Fee is paid.