Common use of Billing Terms Clause in Contracts

Billing Terms. License Fees and house taxes are billed on the first of each month. License Fees may be prorated at the start of the License Term; however, house tax is not. Other fees for housing will be billed as they occur. All fees for Licensees who are enrolled as MIT students are billed through Licensee's student account each month by Student Financial Services and must be paid in accordance with the terms of that account. Fees for authorized Licensees who are not enrolled as MIT students must be paid through MIT's Accounts Payable System, by personal check, debit or credit card. For such payments, Licensee will be responsible for return check fees, in addition to late charges, for any payments that are not submitted by the due date reflected on the invoice. MIT may impose additional charges or credits at any time based on changes in utility fees and other costs. In such cases, Licensee will be notified of the amount and effective date of such additional charges or credits. Under no circumstances may Licensee withhold, ▇▇▇▇▇ or reduce any fees. The presence of vermin, cockroaches, bed bugs, or other pests in the building, or failure of MIT to provide electricity, hot or cold water or heat during the regular heating season, in any specific amount, or to any specific standard, are not reasons for reduction, abatement, or withholding of any fees, including License Fees and house taxes. Licensee shall claim no adjustment or other compensation for inconvenience or discomfort arising from the making of repairs or improvements to the Licensed Premises or other MIT property, including the building and appliances. Failure to make payments of License Fee or other fees may result in a registration/graduation hold and termination of this License Agreement, resulting in a loss of graduate housing assignment, and it may affect future eligibility for graduate student housing. Licensee’s payment obligations shall survive the termination of this License Agreement.