Examples of Termination Charge in a sentence
Customer understands and agrees that the Early Termination Charge is the amount of the Installation Discount referenced on the Order (which is equal to the amount of the installation cost that was waived by PANGAEA in return for Customer’s agreement to purchase the PANGAEA Services for the full Initial Term period).
If Customer downgrades, cancels or terminates the PANGAEA Services (including, without limitation, bandwidth service) prior to the expiration of the Initial Term (and other than as provided in Section 9(c) above): (1) Customer agrees to reimburse PANGAEA the Early Termination Charge as indicated on the Order; and (2) PANGAEA will not be required to refund any portion of the monthly charge paid (or to be paid) by Customer for the month in which cancellation occurs.
Customer further acknowledges and agrees that the Early Termination Charge is a reimbursement, and that such amount represents reasonable liquidated damages and not a penalty.