The Sponsoring Organization's contribution to ICANN shall be the sum of:
Annual Contribution. The fixed annual contribution shall be an amount
established by the ICANN Board of Directors, in conformity with the
ICANN bylaws and articles of incorporation, not to exceed the maximum
fixed annual contribution described in item 4 below.
3. Payment Schedule. The Sponsoring Organization shall pay the fixed and variable annual contributions in one or more installments, as established for each year by ICANN. These payments shall be made in a timely manner throughout the Term of this Agreement and notwithstanding the pendency of any dispute between the Sponsoring Organization and ICANN. The Sponsoring Organization shall pay interest on payments not timely made at the rate of 1% per month or, if less, the maximum rate permitted by California law.
4. Contribution Caps. The maximum fixed annual contribution shall be US$5,000 per year until and including 30 June 2002; shall automatically increase by 15% on July 1 of each year beginning in 2002; and may be increased by a greater amount in the manner provided by Section 5.1. The sum of the fixed and variable annual fees contributions due to be paid in any year ending on any 30 June during or within one year after the Term of this Agreement by all TLD sponsors and registry operators having registry or sponsorship agreements with ICANN shall not exceed the total annual fee cap described in the following sentence. The total annual fee cap shall be US$5,500,000 for the fiscal year ending 30 June 2002; shall increase by 15% each fiscal year thereafter; and may be increased by a greater amount in the manner provided by Section 5.1.
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