Common use of Payment of Renewal Fee Clause in Contracts

Payment of Renewal Fee. Licensee shall, within thirty (30) days of each renewal of this License Agreement, pay Licensing Company a non-refundable, non-recoupable renewal fee of US$ 10,000 (ten thousand US Dollars). This renewal fee covers the five-year period applicable to the current renewal of this License Agreement, and not any extension or further renewal thereof. Licensee shall not be obligated to pay such renewal fee if Licensee or its Affiliate paid a renewal fee of at least $10,000 to Licensing Company in connection with a renewal of a substantially identical License Agreement for UHD-Software Manufacturer, for a renewal period extending beyond the date of renewal of this License Agreement.

Payment of Renewal Fee. Licensee shall, within thirty (30) days of each renewal of this License Agreement, pay Licensing Company a non-refundable, non-recoupable renewal fee of US$ 10,000 (ten thousand US Dollars). This renewal fee covers the five-year period applicable to the current renewal of this License Agreement, and not any extension or further renewal thereof. Licensee shall not be obligated to pay such renewal fee if Licensee or its Affiliate paid a renewal fee of at least $10,000 to Licensing Company in connection with a renewal of a substantially identical License Agreement for UHDBD-Software Manufacturer, for a renewal period extending beyond the date of renewal of this License Agreement.