Common use of Payment of License Fees Clause in Contracts

Payment of License Fees. The aggregate sum of the License Fee applicable to all Residential Units shall be payable by Licensee to Licensor quarterly on the first day of each calendar quarter; provided, however, that the prorated portion of the License Fee applicable to the period commencing on the date hereof and continuing through the end of the same calendar quarter shall be due and payable in full at the time of mutual execution of this License Agreement. The obligation to pay the License Fee is not affected by the amount of usage of the Fitness Facility by the Eligible Users of a Residential Unit.