Common use of Implementation Fee Clause in Contracts

Implementation Fee. In the event any Fund that becomes subject to this Agreement after the effective date of this Amendment fails for any reason to list its Shares on a US exchange within 90 days following the date of receipt by Service Provider of the Client’s authorization to open such Fund’s custody accounts, and the Service Provider has performed onboarding work customarily done in preparation for such launch, the Service Provider shall be entitled to receive an Implementation Fee of $10,000, which shall be paid in accordance with Section 8 of the Agreement.