Common use of Term and Fee Clause in Contracts

Term and Fee. Licensee shall pay to All My Papers an upfront License fee, set forth on an Invoice to be issued by All My Papers, for a three (3) year license (further described in Section 2) to use All My Papers Technologies and to receive support and maintenance of the software unless otherwise mutually agreed to by the parties in writing. Upon payment of the Invoice, this Agreement will be effective from the date of Licensee’s acceptance, (as set forth on the invoice from All My Papers to Licensee). This agreement shall automatically renew for successive three (3) year periods (upon payment of the All My Papers invoice for the renewal fee to be issued approximately 60 days prior to the expiration of each 3 year period) unless either party notifies the other in writing of its election to terminate or request to modify terms at least 4 weeks prior to the expiration date of any Term. Payment of the License fees and renewal fees entitles Licensee to continue to use the Licensed Product as well as to receive support and maintenance. FAILURE TO PAY THE LICENSE OR ANY APPLICABLE RENEWAL FEES OR ANY CHARGES FOR ADDITIONAL PRODUCTS OR SERVICES CONSTITUTES A BREACH OF THIS AGREEMENT AND SHALL BE THE BASIS FOR THE IMMEDIATE TERMINATION OF THIS AGREEMENT AND REMOVAL OF ALL MY PAPERS TECHNOLOGIES. If either party notifies the other, in writing, of an election to terminate four (4) weeks prior to the Agreement's expiration date or if the parties cannot agree on proposed modifications, the license will terminate upon the expiration of the current Term.