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Contract analysis

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Contract analysis / retainer-deposit-acknowledgment.docx
retainer-deposit-acknowledgment.docx
1014-00003 · 4 clauses
High · 0 Medium · 1 Standard · 3
1. Evergreen Structure. The retainer is structured as an "evergreen" retainer in the amou Standard
⚑ Commercial term
1. Evergreen Structure. The retainer is structured as an "evergreen" retainer in the amount of One Hundred Thousand Dollars ($100,000.00). This structure is intended to ensure that adequate funds remain on deposit throughout the duration of the engagement to cover the anticipated ongoing costs of the litigation.
2. Quarterly Replenishment. The retainer shall be replenished on a quarterly basis. Speci Standard
⚑ Commercial term
2. Quarterly Replenishment. The retainer shall be replenished on a quarterly basis. Specifically, upon any draw-down of the retainer balance during a given calendar quarter, Optiwave Semiconductor Corp. agrees to replenish the retainer to the full amount of $100,000.00 at the beginning of each subsequent calendar quarter during the pendency of the engagement. The firm will provide advance written notice to the Client
3. Not a Flat Fee or Cap. The retainer is not a flat fee for legal services and does not Standard
⚑ Commercial term
3. Not a Flat Fee or Cap. The retainer is not a flat fee for legal services and does not represent a cap or ceiling on the total fees and costs that may be incurred in connection with the matter. Rather, it is a security deposit against which fees and costs will be applied as they are earned and incurred. In the event that fees and costs in any billing period exceed the available retainer balance, the Client will be
4. Return of Unused Funds. Any unused retainer balance remaining upon the conclusion of t Medium
⚑ Notice / time limit to track
4. Return of Unused Funds. Any unused retainer balance remaining upon the conclusion of the engagement — whether by resolution of the underlying litigation, termination of the engagement by either party, or otherwise — will be promptly returned to Optiwave Semiconductor Corp. within thirty (30) days of the final billing statement, net of any outstanding fees and costs owed to the firm. Billing Rates Confirmation As s