Common use of Terms and Fees Clause in Contracts

Terms and Fees. 3.1. Subject to Section 13 (“Termination”), the Support and Maintenance Service shall be provided for the Supported Software for the period specified in the ordering document, commencing on the Effective Date and shall be automatically renewed at the end of that period and thereafter for additional one-year periods, unless and until either party gives written notice to the other party not less than thirty (30) calendar days before the end of the then current term that it elects not to extend the term. Any such renewal will be on the same legal terms of the then current VISURE Support and Maintenance Service (including without limitation the applicable Fees) provided that such terms and conditions have been notified to the COMPANY less than sixty (60) calendar days prior to the contract’s expiration date. 3.2. If, at the end of a term of Support and Maintenance, the COMPANY declines to renew the Service, and then at a later date, elects to reinstate the Service, the COMPANY will be required to pay a reinstatement fee equal to 150% of the Fees that would have been payable had the COMPANY received the Support and Maintenance Service during the lapsed period. 3.3. Should any Product be added to the basic Licenses package at a later stage, the amount invoiced for the relevant Service will be calculated based on the number of days remaining until the date when the next Annual payment is due. Likewise, said Service shall remain valid until that date. From then on, the basic package Service shall be added to that of the new module for the purposes of subsequent annual renewals.