Common use of Payment of License Fees Clause in Contracts

Payment of License Fees. On each Distribution Payment Date, each Trust will pay to Licensor, as payment in full for the Licenses granted hereunder, a fee equal to, for each day during each Calculation Period, the Up Asset Amount or the Down Asset Amount as applicable, as of the preceding day, multiplied by the Annual Fee Rate divided by 365 or 366 depending on the number of days in the current year (the "Licensing Fee").