Common use of Hosting Fees Clause in Contracts

Hosting Fees. In the event of termination of any Hosting Agreement, Hosting Fees with respect to the relevant Hosted Exchange, shall, subject to Section 6.6.3, continue to accrue in accordance with Schedule I for a period, immediately following the delivery of a Hosting Agreement Termination Notice pursuant to Section 6.3(c) (the “Hosting Transition Period”), of, (a) in the event the Hosted Exchange has exercised its right to terminate the Hosting Agreement without cause, (i) twelve months or (ii) such alternative time period as LIFFE, pursuant to the CBOT’s direction, continues to deliver Services in respect of hosting the electronic trading of Hosted Products of the relevant Hosted Exchange via the CBOT Electronic Exchange; provided, however, that the CBOT shall notify LIFFE at least fifteen (15) days in advance of the date upon which LIFFE is to cease providing such Services; or (b) in the event the Hosting Agreement has been terminated by reason of material breach, insolvency, or such other grounds for termination as are equivalent to those set forth in Section 12.3.2 of this Agreement and notwithstanding any prior notification by the relevant Hosted Exchange of its intention to terminate the Hosting Agreement without cause, the later of (i) thirty (30) days and (ii) such alternative time period as the CBOT may direct LIFFE to continue to deliver Services in respect of hosting the electronic trading of Hosted Products of the relevant Hosted Exchange via the CBOT Electronic Exchange; provided, however, that the CBOT shall notify LIFFE at least fifteen (15) days in advance of the date upon which LIFFE is to cease providing such Services; or (c) notwithstanding Section 6.6.1(a) and (b), such duration as LIFFE delivers Services in respect of hosting the electronic trading of Hosted Products of the relevant Hosted Exchange via the CBOT Electronic Exchange, pursuant to a requirement, decision, or order of a regulatory or governmental authority, arbitration panel or court of competent jurisdiction. Upon the expiration of the Hosting Transition Period, the accrual of Hosting Fees with respect to such Hosted Exchange shall end, and, subject to Section 6.6.2, the CBOT shall be obligated to pay to LIFFE all accrued Hosting Fees.