Common use of Payment for Subscription Clause in Contracts

Payment for Subscription. A. The Participating Institution shall pay League the amount identified in Exhibit A for the first year of SaaS Services (“Year One Fees”). For the second and third years of SaaS Services, the Participating Institution shall pay League the total of Year One Fees and any applicable annual fee increases enacted by Contractor pursuant to the Subscription Agreement, but not more than 4% in the second year of the Term, and 4.5% in the third year of the Term. B. The Participating Institution shall also pay League annual charges for any Named Users and Bibliographic Titles (in minimum blocks of 500,000 titles) that exceed the allocations which will be transmitted no later than February 10, 2021 as Exhibit C and incorporated herein by reference. The annual cost of each additional Named User is $375, and of each additional block of 500,000 Bibliographic Titles is $4,256.25, plus annual fee increases enacted by Contractor. The Participating Institution will have until March 31, 2021 to reduce its number of Named Users and Bibliographic Titles to within the parameters of Exhibit C before incurring the first year of annual charges. C. League shall invoice the Participating Institution for the annual Subscription Fees. League may submit a supplemental invoice to the Participating Institution at any time following March 31, 2021 for charges associated with additional Named Users and Bibliographic Titles records. The Participating Institution shall pay the League within 60 days of receipt of League’s invoice.

Payment for Subscription. A. The Participating Institution shall pay League the amount identified in Exhibit A for the first year of SaaS Services (“Year One Fees”). For the second and third years of SaaS Services, the Participating Institution shall pay League the total of Year One Fees and any applicable annual fee increases enacted by Contractor pursuant to the Subscription Agreement, but not more than 4% in the second year of the Term, and 4.5% in the third year of the Term. B. The Participating Institution shall also pay League annual charges for any Named Users and Bibliographic Titles (in minimum blocks of 500,000 titles) that exceed the allocations which will be transmitted no later than February 10, 2021 as Exhibit C and incorporated herein by reference. The annual cost of each additional Named User is $375, and of each additional block of 500,000 Bibliographic Titles is $4,256.25, plus annual fee increases enacted by Contractor. The Participating Institution will have until March 31, 2021 to reduce its number of Named Users and Bibliographic Titles to within the parameters of Exhibit C before incurring the first year of annual charges. C. League shall invoice the Participating Institution for the annual Subscription Fees. League may submit a supplemental invoice to the Participating Institution at any time following March 31, 2021 for charges associated with additional Named Users and Bibliographic Titles records. The Participating Institution shall pay the League within 60 days of receipt of League’s 's invoice.