Included Programs. Licensee shall pay to Licensor the Included Programs License Fee (i.e., USD$4,250,000.00) in equal monthly installments of One-Hundred and Eighty-One Thousand Eight-Hundred and Eighteen U.S. Dollars and Eighteen Cents (USD$181,818.18) each, for the first eleven (11) months of the Term, and One-Hundred and Eighty-Seven Thousand Five-Hundred U.S. Dollars ($187,500.00) each, for the following twelve (12) months of the Term. Licensor shall issue an invoice for each such payment due on the first day of each applicable month and Licensee shall pay the amount due on such invoice no later than sixty (60) days thereafter. The parties acknowledge and agree that the provisions of this section are of the essence. Licensee covenants and agrees to make all payments to Licensor hereunder in a timely manner.
Appears in 2 contracts
Sources: Airline Motion Picture License Agreement, Airline Motion Picture License Agreement