Underutilization Charges. If, after expiration of the Initial Term, Customer's Contributing Charges are less than the Minimum Volume Commitment, then Customer shall pay: (1) all accrued, Resolved Charges incurred by Customer; and (2) an underutilization charge (which Customer hereby agrees is reasonable) equal to the difference between the Minimum Volume Commitment, as reduced pursuant to Section 1 of this Schedule One, if applicable, and the amount actually paid by Customer and any Resolved Charges. For the purposes of this provision, “Resolved Charges” shall mean those charges that are either: (i) unpaid and undisputed by Customer; or (ii) unpaid and disputed by Customer, pending an agreement by the Parties, in accordance with the Agreement or as otherwise agreed in writing, as to an agreed to be paid by Customer to Company.
Appears in 2 contracts
Sources: Service Agreement, Service Agreement