Common use of RESERVATION FEES Clause in Contracts

RESERVATION FEES. In respect of any Indicative Amount: (i) if the Purchaser on or before the 1st Reservation Fee Deadline places a Purchase Order for that Indicative Amount, no Reservation Fee will be payable, but Purchaser shall pay for that Indicative Amount, or if the Purchaser on or before the 1st Reservation Fee Deadline notifies Dynavax in writing that it will not place a Purchase Order (“Confirmation of No Purchase Notice”), no Reservation Fee will be payable; (ii) otherwise: (1) the Purchaser shall pay the 1st Reservation Fee on the first Business Day after the 1st Reservation Fee Deadline and if the Purchaser places a Purchase Order for that Indicative Amount or serves a Confirmation of No Purchase Notice on or before the 2nd Reservation Fee Deadline, no Second Reservation Fee will be payable; and (2) if the Purchaser neither places a Purchase Order for that Indicative Amount nor serves a Confirmation of No Purchase Notice on or before the 2nd Reservation Fee Deadline, the Purchaser shall pay the 2nd Reservation Fee on the first Business Day after the 2nd Reservation Fee Deadline;