Common use of Consideration for Grant Clause in Contracts

Consideration for Grant. 2.1 In consideration of the grant of the IRU hereunder by Pathnet to Customer, Customer agrees to pay to Pathnet, within five (5) days after the Acceptance Date, an IRU fee (the "IRU Fee") of the amount of -------- "*", payable on the Delivery Date. Payment shall be made to an escrow account specified by Pathnet.. 2.2 In addition to the amounts payable under Section 2.1, Customer shall pay directly or reimburse Pathnet for all costs and expenses to be paid by Customer as set forth in this Agreement, including, without limitation, the costs and expenses described in Articles 7, 8 and 13. 2.3 The consideration for the use of the space in Pathnet's facilities described in section 7.2 shall be as provided in the Collocation Agreement attached hereto as Exhibit H, and payable as set forth therein. 2.4 Customer shall pay the IRU Fee by wire transfer of immediately available funds to the account or accounts designated by Pathnet. 2.5 If Customer fails to make any payment under this Agreement when due, such amount shall accrue interest from the date such payment is due until paid, including accrued interest compounded monthly, at an annual rate of twelve percent (12%) or, if lower, the highest percentage allowed by law. If a dispute arises concerning an amount due by Customer, and it is later determined that the amount is due and owing to Pathnet, such amount shall bear interest from the date when due until paid, at the foregoing rate.