Common use of COMMISSIONS PAYABLE Clause in Contracts

COMMISSIONS PAYABLE. Subject to the provisions of Paragraph 4.3 below, ▇▇▇▇▇ Industries shall pay to Buyer a commission of five percent (5.00%) of the net invoice value (exclusive of freight and transportation costs, trade discounts, and sales and other taxes) of all shipments of the product commonly known as "Black Tile, " Stock No. FXA 3624 ("Black Tile") from ▇▇▇▇▇ Industries' San Jose, California facility to Unified Defense, L.P. to the extent such shipments are made and invoices are rendered during the three-year period commencing on the date hereof and expiring on the three-year anniversary hereof ("Commission Period") . All commissions payable to Buyer shall be due and payable reasonably promptly upon ▇▇▇▇▇ Industries' receipt of payment from Unified Defense, L.P.