TERRITORY FEE Clause Samples

TERRITORY FEE. As consideration for the grant of the right to use the Licensed Rights as provided herein, Licensee shall pay to Licensor a territory fee of Two Million Dollars ($2,000,000) (the "TERRITORY FEE") as follows: (i) One Million Dollars ($1,000,000) shall be payable on or before November 30, 1998, and (ii) the balance of the Territory Fee shall be payable on or before March 31, 1999. In the event this Agreement is terminated pursuant to Section 3(C) above, the Territory Fee shall be refunded to Licensee as follows: (i) if such termination occurs prior to the Opening Date, the entire amount of the Territory Fee shall be refunded to Licensee (without interest), and (ii) if such termination occurs during the period commencing on the Opening Date and ending three (3) years after the Opening Date, the Territory Fee shall be amortized over such three (3) year period and the unamortized portion of the Territory Fee as of the date of such early termination shall be refunded to Licensee (without interest). Except as provided in the preceding sentence, the Territory Fee is non-refundable.

TERRITORY FEE. As payment for processing, Driver shall pay a percentage of the total bill of sales for invoiced products set by ▇▇▇▇▇▇▇ and R & J Distributing.