Common use of Times when Payments are Due Clause in Contracts

Times when Payments are Due. 7.1 The Redistribution Fee and the Connection Fee for the first Quarter shall become payable as soon as the Licensee begins disseminating the Information to Subscribers or, if sooner, at the expiry of two complete calendar months from the Datafeed Commencement Date irrespective of whether the Licensee has begun disseminating the Information to Subscribers, provided that where the Redistribution Fee and the Connection Fee become payable for the first Quarter other than at the commencement of the relevant Quarter, the Redistribution Fee and the Connection Fee will be reduced by one third for each complete month elapsed; and thereafter each Redistribution Fee and the Connection Fee shall be payable on or prior to commencement of the Quarter to which that Redistribution Fee and the Connection Fee relates.