Common use of Network Pricing Clause in Contracts

Network Pricing. All proposals for pricing plans made by the Council’s Treasury Management & Coin Economics Committee (“CoinCom”) shall require the approval of a majority of the Members prior to implementation by the Board. In the event that a proposed pricing plan from CoinCom does not receive the approval of a majority of the Members, CoinCom shall put forth a new proposed pricing plan within thirty (30) days of such original proposal. In the event that the second proposed pricing plan is rejected, CoinCom may determine, in its sole discretion, that the Members cannot agree on a pricing plan. In this case, the pricing plan will be determined by the Board. Notwithstanding the foregoing, in no event shall any pricing proposal compensate Members in connection with the performance of Node hosting services in a manner that is different from other Nodes in the Hedera Network. However, pricing plans may provide discounts to Members for the use of Hedera Network services (e.g. making API calls), but any such discounts will only apply during a Member’s Term.‌

Appears in 4 contracts

Samples: Limited Liability Company Agreement, Limited Liability Company Agreement, Limited Liability Company Agreement

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Network Pricing. All proposals for pricing plans made by the Council’s Treasury Management & Coin Economics Pricing Committee (“CoinCom”) shall require the approval of a majority of the Members prior to implementation by the Board. In the event that a proposed pricing plan from CoinCom the Pricing Committee does not receive the approval of a majority of the Members, CoinCom the Pricing Committee shall put forth a new proposed pricing plan within thirty (30) days of such original proposal. In the event that the second proposed pricing plan is rejected, CoinCom the Pricing Committee may determine, in its sole discretion, that the Members cannot agree on a pricing plan. In this case, the pricing plan will be determined by the Board. Notwithstanding the foregoing, in no event shall any pricing proposal compensate Members in connection with the performance of Node hosting services in a manner that is different from other Nodes in the Hedera Network. However, pricing plans may provide discounts to Members for the use of Hedera Network services (e.g. making API calls), but any such discounts will only apply during a Member’s Term.‌Term.

Appears in 1 contract

Samples: Limited Liability Company Agreement

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