Service Retainer. The Service Retainer is to be held by Licensor as security for payment of all fees due and payable under this Agreement as well as all possible damages to Licensor's equipment and furniture, office space and all and any obligations of Licensee under this Agreement. The Service Retainer will not be kept in a separate account and no interest will be paid to Licensee. The Service Retainer may be applied to all past due fees, monies and/or damages as they occur, at Licensor's discretion. This Service Retainer will be returned (less any monies due under this Agreement) 60 days after the expiration of the License Term or 60 days after termination as defined in paragraph 6. In the event the Service Retainer is applied to past due fees, then the Licensee is obligated to replenish the Service Retainer to the original amount set on page 1 of this Agreement immediately.
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Service Retainer. The Service Retainer is to be held by Licensor as security for payment of all fees due and payable under this Agreement as well as all possible damages to Licensor's ’s equipment and furniture, office space and all and any obligations of Licensee under this Agreement. The Service Retainer will not be kept in a separate account and no interest will be paid to Licensee. The Service Retainer may be applied to all past due fees, monies and/or damages as they occur, at Licensor's ’s discretion. This Service Retainer will be returned (less any monies due under this Agreement) 60 days after the expiration of the License Term or 60 days after termination as defined in paragraph 6. In the event the Service Retainer is applied to past due fees, then the Licensee is obligated to replenish the Service Retainer to the original amount set on page 1 of this Agreement immediately.
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