Provision of Guarantees. In consideration of the Existing Guarantees provided by PetSmart, Chewy shall pay to PetSmart on a quarterly basis a recurring Guarantee Fee equal to fifty basis points (50bps) of the aggregate outstanding amount of all Existing Guarantees that are outstanding for all or any part of the calendar quarter preceding the calendar quarter in which such fee is payable.
Appears in 2 contracts
Sources: Master Transaction Agreement (Chewy, Inc.), Master Transaction Agreement (Chewy, Inc.)