Common use of Quarterly Term Clause in Contracts

Quarterly Term. If, on the WSA Form, the Customer has selected a “Quarterly Term” option, then with respect to such option(s): (i) the Initial Term of this Agreement shall be three calendar months, commencing on the Effective Date, (ii) the Customer shall pay to the Company the applicable Quarterly Storage Charge(s) (as set forth in the WSA Form) owed in full upon execution of this Agreement. So long as the Customer’s Wine is still held on the first day after the Initial Term or any subsequent Renewal Term, this Agreement shall automatically renew for an additional Renewal Term of three-calendar months on these Terms and Conditions. The applicable Quarterly Storage Charge(s) shall be adjusted to the Company’s then-current applicable Quarterly Storage Charge(s) for new customers.

Quarterly Term. If, on the WSA Form, the Customer has selected a “Quarterly Term” option, then with respect to such option(s): option: (i) the Initial Term of this Agreement shall be three calendar months, commencing on the Effective Date, (ii) the Customer shall pay to the Company the applicable Quarterly Storage Charge(s) (as set forth in the WSA Form) owed in full upon execution of this Agreement. So long as the Customer’s Wine is still held on the first day after the Initial Term or any subsequent Renewal Term, this Agreement shall automatically renew for an additional Renewal Term of three-calendar months on these Terms and Conditions. The ; provided, however, that the applicable Quarterly Storage Charge(s) shall be adjusted to the Company’s then-current applicable Quarterly Storage Charge(s) for new customers.