Underwriting fees

Any fee, commission or deduction paid by an Advertising Media Group Companies or Consortium which has been made in respect of the Agency guaranteeing to underwrite volumes or shares of expenditure over any period of time. In this event, the Agency would have accepted a contingent liability for which the Client has no responsibility (save if the Client has agreed a specific volume or share with an individual Advertising Media for specific discounts) and any payment made by an Advertising Media Group Companies or Consortium in respect of the Agency’s acceptance of such a contingent liability is subject to Fair Share Obligations.