Common use of Consideration and Payments Clause in Contracts

Consideration and Payments. 4.1 In consideration for the rights granted under Clause 3 the Licensee shall: (a) ensure that its Sustainability Assurance Services comply with the AA1000 Assurance Standard (2008) and the AA1000 Assurance Standard (2008) Requirements; (b) pay to AccountAbility the Subscription Fee on entering this Agreement; (c) pay to AccountAbility the Royalty Fee for each AA1000 Assurance Standard (2008) Sustainability Assurance service statement or reports the Licensee publishes or provides his clients that cites or refers to AA1000 Assurance Standard (2008) or displays the AA1000 Assurance Standard Marking. 4.2 The Subscription Fee and Royalty Fee payable under this Agreement are exclusive of any value added (or like) tax which may be payable on them and shall be paid gross without deduction of any withholding or other income taxes and if subject to withholding or other income taxes the Licensee shall ensure that such sum is paid to AccountAbility as shall, after deduction of such withholding or other income tax, be equivalent to the Royalty Fees due. 4.3 AccountAbility shall be entitled to charge the Licensee interest on all overdue fee payments at a rate of five per cent (5%) per month, compounded monthly, on the outstanding balance. 4.4 The Licensee shall report to AccountAbility on a quarterly basis and shall indicate how many Sustainability Assurance Services it provided using the AA1000 Assurance Standard Marking. 4.5 AccountAbility will then invoice the Licensee on the basis of the number of reports mentioned in Clause 4.4 above. The Licensee shall pay the total charges under such invoices within 30 days after receipt of any invoice from Accountability. 4.6 The invoice shall be addressed to [ ] which shall be in the form suitable for value added tax (VAT) purposes and shall show VAT as a separate and additional item, where applicable. 4.7 The provisions of this Clause 4 shall remain in effect notwithstanding termination or expiry of this Agreement until the settlement of all subsisting claims by AccountAbility.