Examples of Annual Support Fee in a sentence
In consideration for the performance of TTC-IADS’ obligations under this Agreement, Licensee shall pay to TTC-IADS, without offset or deduction, an applicable Annual Support Fee in the amount determined by reference to the schedule set forth in the relevant quote as finalized by the relevant order.
Such Annual Support Fee shall be calculated by reference to the previous year’s charge with provision for an uplift in line with the increase in the retail price index.
TTC-IADS’ maintenance and support will only commence after the Annual Support Fee is fully paid, and will cease upon reaching the end of the annual term unless a subsequent annual term is procured, and the Annual Support Fee for such subsequent annual term is paid for in advance.
Unless otherwise agreed in writing between the parties, the Annual Support Fee for the second year will be increased by three percent (3%), and each successive Annual Support Fee will be adjusted on the basis of a three percent (3%) increase from the prior period’s Annual Support Fee.
Annual Support Fee shall be revised by Versasec yearly according to Section 14 (b) below.