LICENSE AND OPERATIONS FEES Sample Clauses

LICENSE AND OPERATIONS FEES. In consideration of the grant of the --------------------------- licenses by VSI to VSJ and the operations support and maintenance under this Agreement, VSJ shall pay to VSI the following license and operations fees ("LICENSE AND OPERATIONS FEES"): ----------------------------- 3.1.1 An annual License and Operations Fee, for the initial five (5) year period, in the following amounts shall be payable in equal quarterly installments due at the beginning of each calendar quarter, with the full amount for Year 1 and the initial installment for the second year due on the date of execution of this Agreement: Year 1 (Calendar Year 1996): $150,000.00 Year 2 (Calendar Year 1997): $250,000.00 Year 3 (Calendar Year 1998): $350,000.00 Year 4 (Calendar Year 1999): $450,000.00 Year 5 (Calendar Year 2000): $450,000.00 After payment of the amounts set forth above in this Section 3.1.1 for the initial five (5) year period, the annual License and Operations Fees shall be considered fully paid. 3.1.2 A royalty in the amount of Twenty Percent (20%) of the End User Price for Public Certificates issued by VSJ or a Distributor in 1997 or 1998 and for each renewal thereof. Royalties for years after 1998 shall be as agreed between the parties. 3.1.3 A royalty in the amount of Fifteen Percent (15%) of the End User Price for Private Certificates or Custom Public Certificates issued by VSJ or a Distributor in 1997 or 1998 and for each renewal thereof. Royalties for years after 1998 shall be as agreed between the parties. 3.1.4 A royalty in the amount of Twenty Percent (20%) of the End User Price of all ECAS licenses by VSJ or a Distributor in 1997 or 1998. Royalties for years after 1998 shall be as agreed between the parties. 3.1.5 A royalty in the amount of Fifteen Percent (15%) on all CPS consulting fees collected by VSJ for CPS consulting services provided by VSJ. 3.1.6 License and Operation Fees or royalties provided in this Section 3.1 may be reduced in order to maintain VSJ's competitiveness in the Territory by a joint determination by VSI and VSJ of the reasonableness of such reduction. VSJ may notify VSI of its request for such reduction. Upon VSI's receipt of such request, the parties shall in good faith review the situation and discuss possible reduction of the License and Operation Fees or royalties.
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