Common use of Hosting Fees Clause in Contracts

Hosting Fees. (i) For each calendar year during the period between the relevant Hosting Go Live Date and the remainder of the Term, or such portion thereof in the case of a partial calendar year (each such whole or partial calendar year, an “OYP”), the Hosting Fees shall be based on the number of contracts (round turn) in Hosted Products of such Hosted Exchange traded via the CBOT Electronic Exchange during such OYP (the “Electronic Volume”). (ii) In respect of the Kansas City Board of Trade and the Minneapolis Grain Exchange, the Hosting Fee shall additionally be predicated upon the total number of contracts (round turn) in all products of each such Hosted Exchange traded (whether via the CBOT Electronic Exchange, via the Hosted Exchange’s open outcry facility or otherwise) during such OYP (the “Total Volume”). (iii) The Hosting Fee for each OYP during the Term shall be payable by the CBOT in quarterly installments, with the first payment due within thirty (30) days following the end of the first calendar quarter subsequent to the Hosting Go Live Date. Thereafter, payments will be due on each January 30, April 30, July 30 and October 30 of each year during the remainder of the Term. (iv) In respect of the Hosting Fee for each Hosted Exchange, (i) each quarterly Hosting Fee installment shall equal the Minimum Quarterly Payment in regard to such Hosted Exchange (as designated in Paragraph 4.2 below); and (ii) the quarterly Hosting Fee installment for such Hosted Exchange due thirty (30) days following the end of the fourth calendar quarter of each OYP shall also include an amount equal to the difference between (x) the Hosting Fee for the Hosted Exchange, as calculated in accordance with Paragraph 4.2, and (y) the sum of all Minimum Quarterly Payments made during the OYP.