Common use of Service Costs Clause in Contracts

Service Costs. (a) In consideration of the performance of the Services, unless the parties shall otherwise agree to a different arrangement, during the Services Period, Company shall pay Service Provider: (1) at the hourly rates updated in writing by the chief financial officer of the Servicer Provider to the chief financial officer of the Company on a quarterly basis, based on time incurred, for those Services billed at an hourly rate; and (2) at the flat rates updated in writing by the chief financial officer of the Servicer Provider to the chief financial officer of the Company on a quarterly basis, based on the Services performed, for those Services billed at a flat rate (collectively, the “Service Costs”); provided, however, that the Service Provider shall not charge for personnel costs associated with any Persons employed by Service Provider that are also Executive Officers of Company. All Services Costs referred to in clauses (1) and (2) above shall not exceed then current market rates that could be obtained by the Company or the Service Recipients for the applicable Services from unaffiliated third parties on an arms’ length basis. (b) The Service Provider shall exercise its reasonable judgment to allocate the Service Costs among the business units of Serviced Entities. Service Provider shall apply usual and accepted accounting conventions in making such allocations. Service Provider or its agents shall keep and maintain such books and records as may be reasonably necessary to make such allocations and shall provide, upon reasonable request and notice, access to such books and records to Company.