Pricing, Invoice and Payment Terms. During the Term, Xxxxxxxx will pay Pactiv fees for each Warehouse that is included in the Agreement as set forth on Schedule 1-A. The “Base Storage Fee,” which is the fee for the fixed cubic feet of warehouse space made available by Pactiv to Xxxxxxxx for each Warehouse under this Agreement, and “Additional Storage Fee,” which is the fee per cubic foot of space above the Base Storage Space that Xxxxxxxx may access at the Warehouses on the terms and conditions in this Agreement, will increase by one and one-half percent (1.5%) on January 1st of each calendar year of the Term starting on January 1, 2021. Xxxxxxxx will pay Pactiv the Base Storage Fee of a Warehouse on or before the first day of each calendar month during its Warehouse Service Period without notice by Pactiv and regardless of the quantity of Xxxxxxxx Products actually stored in a Warehouse. If Pactiv has used Additional Storage Capacity of a Warehouse to store Xxxxxxxx Products in a calendar month of its Warehouse Service Period, Pactiv will invoice Xxxxxxxx for the amount and duration of Additional Storage Capacity used to store Xxxxxxxx Products in the calendar month. Xxxxxxxx will pay Pactiv the amount owed for the Additional Storage Capacity used to store Xxxxxxxx Products in a calendar month within thirty (30) days of invoice. Further details on pricing, invoicing and payment terms may be provided in the SOPs.
