Common use of Minimum Fees Clause in Contracts

Minimum Fees. a. Each Closing that is processed for Issuer is subject to a minimum fee to DriveWealth of $500, if the sum of the fees in section 1 and 2 above are less than this minimum. b. DriveWealth shall also be entitled to a minimum monthly fee of $1,000 from the relationship with Issuer, beginning on the month of the first Closing, or the month the first Customer Securities are deposited into DriveWealth accounts, whichever occurs first. For the purpose of clarity, should the monthly fee due to DriveWealth in the aggregate from the fees outlined in sections 1, 2 and 6 above, as well as this section 8, be less than $1,000 in any month during the Term, Issuer shall pay the DriveWealth the Minimum Fee.