Monthly Recurring Charges definition
Examples of Monthly Recurring Charges in a sentence
If the Ready for Service Date occurs on a date other than the first day of a calendar month, the first Monthly Recurring Charges shall be reduced to an amount equal to the remaining days of the month in which the Ready for Service Date falls (including the Ready for Service Date) multiplied by a rate equal to one-thirtieth (1/30th) of the Monthly Recurring Charges.
In any event, it shall be memorialized by the Service Provider in the parties’ Workbook, which will be reviewed periodically on a schedule set by the parties and include, without limitation, the Monthly Recurring Charges, Non-Recurring Charges, Location and Quantity (the “Workbook”).
The first invoice includes charges for prorated Monthly Recurring Charges (MRCs) as well as Non-Recurring Fees (NRCs), plus usage charges.
Hourly Hourly SLA Credits are calculated as: Affected Service Monthly Recurring Charges x (Total Hours SLA Credit / 720) For example, if monthly charges for affected Service total $10k/month and SLA Credit is 3.5 hours, the Customer will receive credit of $48.61 ($10k * (3.5 hrs / 720 total hours in month) for the month during which outage occurred.
Other than with respect to Monthly Recurring Charges comprising any part of Cancellation Fees, Monthly Recurring Charges in respect of Services provided for only a portion of the first and/or last month of the then-current Subscription Term, and/or unless otherwise required by third party, will be prorated.