CREDIT AND PAYMENT TERMS Sample Clauses
The "Credit and Payment Terms" clause defines the conditions under which payments are to be made between parties, including timelines, accepted payment methods, and any credit arrangements. Typically, this clause outlines when invoices must be paid, whether any credit is extended to the buyer, and the consequences of late payments, such as interest charges or suspension of services. Its core function is to ensure both parties have a clear understanding of their financial obligations, reducing the risk of disputes and promoting timely payment.
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CREDIT AND PAYMENT TERMS. Unless otherwise agreed to by the Seller in the Credit Agreement all payments are due and payable in Tampa, Florida net thirty (30) days from date of invoice or Buyer’s receipt of the product or services, whichever is sooner. For partial shipments, pro rata payments are due as partial shipments are made and invoice received. Under no circumstances shall any invoice or percentage thereof be withheld as retainage or other set-off against Seller’s obligations to Buyer, without Seller’s prior written consent, and, in no event, shall any retainage or set- off held by Buyer be greater than five percent (5%) of the total value of this Agreement. All past due payments shall accrue interest at the lesser of one and one-half percent (1.5%) per month (non-compounded) or the maximum rate allowable under applicable law until paid in full. Additionally, payments not made within thirty (30) days of the due date are subject to a one-time “late charge” equal to four percent (4%) of the payment then due. Notwithstanding the above provision for payment terms, if Buyer is in arrears over thirty (30) days, or if Buyer materially breaches any term of this Agreement of the Credit Agreement, then Seller reserves the right to suspend work on this Agreement and all other orders from Buyer, and/or to withhold shipment of completed equipment (if applicable), and to demand full payment of all amounts in arrears, plus full or partial payment in advance for work in process or as a condition to delivery. In the event of such suspension of work or withholding of shipment, Buyer shall defend, indemnify and hold Seller harmless from any and all loss, damages, expenses, fees, costs, fines or penalties whatsoever which may result to any person or entity due to any delays and damages occasioned thereby.
CREDIT AND PAYMENT TERMS. 5.1 PAYMENT. Terms of payment are [*]. Payment of an invoice shall not constitute or imply acceptance of the Product or relieve McDATA of any obligations assumed under this Agreement, nor prevent EMC from asserting any other rights it may have under this Agreement. Each Product shipment shall be invoiced by McDATA upon shipment, and paid for by EMC when due, without regard to other scheduled deliveries. All prices and fees described in this Agreement are in United States dollars and all payments hereunder shall be made in United States Dollars (i) by electronic wire transfer for international shipments, or (ii) by electronic wire transfer or check for domestic shipments.
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CREDIT AND PAYMENT TERMS. Payment by Customer shall be made by means of electronic funds transfer, and the terms shall be net thirty (30) days subject to credit approval by Seller. Past due amounts shall accrue interest at a rate of one and one-half percent (1.5%) per month, or the maximum rate permitted by applicable law, whichever is less. All amounts more than fifteen (15) days past due shall incur an additional five percent (5%) administrative fee. Any waiver by Seller of interest charges or administrative fees on a particular invoice shall not be construed as a waiver by Seller of its right to impose such charges on other or subsequent deliveries. Seller reserves the right to apply Customer’s payments to any outstanding invoices or obligations of Customer, as determined by Seller in its sole discretion, without regard to the aging of any account. Customer shall be liable for all fees and costs, including without limitation attorney’s fees, incurred by Seller in connection with any collection activities undertaken by Seller for the non-payment of any amounts due hereunder by ▇▇▇▇▇▇▇▇. Seller reserves the right to modify or cancel the credit terms provided to Customer at any time, in its sole discretion upon notice to Customer. If Seller selects not to extend or cancels any credit terms provided to Customer, prior to each delivery of aviation fuel, Customer shall: (a) make a prepayment to Seller; (b) cause to be issued a letter of credit in favor of Seller in a form, in an amount and from a bank that is acceptable to Seller from time to time in its sole discretion, or (c) give other security to Seller in a manner, of a type, in a form and in an amount that is acceptable to Seller. Seller reserves the right, in addition to all other rights and remedies available to it under the law, in equity or otherwise, to suspend further performance of Services, and demand payment of all outstanding balances, if Customer fails to make any payment as herein provided, or if Seller at any time deems itself insecure with regard to the creditworthiness or financial condition of Customer.
CREDIT AND PAYMENT TERMS. Notwithstanding the above, Cardinal reserves the right, at its sole discretion, to a. extend credit privileges to any Customer that Cardinal determines is creditworthy and b. revoke any granted credit privileges to, or amend payment terms of, any Customer including any current account Customers, where Cardinal has any reason, as determined by Cardinal, to be concerned about the Customer’s continued creditworthy status. If Cardinal elects to withdraw credit privileges or amend any payment terms, Customer will be required to comply with the revised payment terms as established by Cardinal, at its sole discretion, to address past-due balances and/or future services as a condition of continued use of any Cardinal services, regardless of whether services are billed to the customer or any other party. Cardinal may elect to reestablish, or refuse to reestablish, credit privileges at its sole discretion. Cardinal reserves the right, at is sole discretion, to:
CREDIT AND PAYMENT TERMS a. Payments for services performed under this Agreement are due and payable promptly at net thirty (30) days after date of invoice, which shall not pre-date the date of shipment as defined in paragraph 3e above.
b. PATHLIGHT shall provide an irrevocable standby letter of credit or other security for receivable amounts outstanding and inventory liability in excess of its credit limit which may be drawn upon in the event of payment delinquency.
c. If PATHLIGHT becomes delinquent in payments to XeTel, XeTel may do the following after notifying PATHLIGHT:
i. Charge interest at one and one-half percent (1 1/2%) per month, but in no event shall the interest charged be higher than the highest rate for which the parties may legally contract; and/or
ii. Withhold shipment of products/services until all of PATHLIGHT's obligations have been brought current. PATHLIGHT will be given a reasonable amount of time to bring invoices current prior to being placed on credit hold. If XeTel elects to withhold shipment, PATHLIGHT is not relieved of any obligations hereunder; and/or
iii. Pursue legal remedies to collect the delinquent payments; and/or
iv. Change credit terms.
d. PATHLIGHT agrees to verbally review Pathlight's quarterly financial statements with XeTel.
e. XeTel agrees to review Pathlight's credit terms quarterly.
CREDIT AND PAYMENT TERMS. Prior to delivery of any products and at any time thereafter, upon Seller’s request, Buyer will promptly provide Seller, and hereby authorizes Seller to obtain from Buyer or any third party, such credit information and documentation as Seller may reasonably require to determine Buyer’s creditworthiness. If at any time, in the sole opinion of Seller, the financial responsibility of Buyer is impaired or unsatisfactory, or Buyer fails to provide such credit information, Seller may suspend deliveries or place Buyer on a cash-in-advance status until arrangements are made for security satisfactory to Seller or, at Seller’s option, until all indebtedness is paid. Terms to Buyers whose credit has been approved by Seller are net thirty (30) days from date of invoice, unless otherwise agreed in writing by a duly authorized representative of Seller, payable in US currency at Seller’s Westlake, TX office, or at any other location designated by Seller. Seller shall have the right to make partial shipments and payment therefor shall be due thirty (30) days thereafter. Buyer grants Seller a security interest in Products until full payment by Buyer. If Buyer fails to make payment for the Goods when due, Buyer's account shall be deemed delinquent and Buyer shall be liable to Seller for a service charge of eighteen percent (18%) per annum or the maximum allowed by law, whichever is greater, on any unpaid amount. Buyer shall be liable to Seller for all costs and expenses of collection, including court costs and reasonable attorney's fees.
CREDIT AND PAYMENT TERMS. Purchaser shall furnish to Seller all financial information reasonably requested by Seller from time to time for the purpose of establishing or continuing Purchaser's credit limit, it being understood that Seller shall have the right to decline to extend credit to Purchaser and to require that the applicable purchase price be paid prior to shipment. Seller shall have the right from time to time, without notice, to change or revoke Purchaser's credit limit on the basis of changes in Seller's credit policies or Purchaser's financial condition and/or payment record. Payment terms for each shipment of Products shall be as stated on Seller's invoice. A service charge of the lesser of one and one-half percent (1 1/2%) per month or the maximum amount allowed by law will be charged on all past due balances to defray Seller's costs of carrying such balance. Credit cards (MasterCard, VISA and Discover Card) will only be accepted at the time of order or purchase. Payment for all other orders must be made in accordance with the terms in effect at the time the order was placed. Seller will not accept money orders or travelers checks as payment unless they are made out in the exact amount of an outstanding invoice. Payment of an invoice through multiple money orders or travelers checks will not be accepted. In the event Purchaser fails to make timely payment of any amount invoiced hereunder, Seller shall have the right, in addition to any and all other rights and remedies available to Seller, at law or in equity, to immediately revoke any or all credit extended, to delay or cancel future deliveries and/or to reduce or cancel any or all quantity discounts extended to Purchaser. Purchaser shall pay all costs of collection, including reasonable attorneys' fees. ▇▇▇▇▇▇ Micro Inc. Resale Agreement -------------------------------------------------------------------------------- EXHIBIT F (continued) Any obligation of Seller under these terms and conditions to deliver Products on credit terms shall terminate without notice if Purchaser files a voluntary petition under a bankruptcy statute, or makes an assignment for the benefit of creditors, or if an involuntary petition under a bankruptcy statute is filed against Purchaser, or if a receiver or trustee is appointed to take possession of the assets of Purchaser.
CREDIT AND PAYMENT TERMS. ▇▇▇▇ shall provide Buyer a line of credit to facilitate purchases under this Agreement; provided, that in no event shall Buyer's Total Credit Exposure exceed *** [Redacted Text] in the aggregate. Such credit line may be decreased or terminated and shipments may be suspended at any time at the sole discretion of ▇▇▇▇ by providing notice to Buyer. Upon written notice of ▇▇▇▇'▇ election to decrease or terminate Buyer's credit line, Buyer may terminate this Agreement. Buyer's failure to give written notice to ▇▇▇▇ of the termination of this Agreement within thirty (30) days from the date of such notice shall constitute an unqualified acceptance of such reduction or termination and a waiver by Buyer of the right to terminate this Agreement. In addition to ▇▇▇▇'▇ rights to decrease or terminate Buyer's credit line as set forth in this Article VII, Section A above, and in addition to any other rights or remedies to which ▇▇▇▇ may be entitled at law or in equity, in the event that ▇▇▇▇ determines, in its sole discretion, that (a) the creditworthiness or future performance of Buyer is impaired or unsatisfactory or (b) Buyer's Total Credit Exposure may exceed the established credit line, ▇▇▇▇ may (i) immediately suspend deliveries of all Product; or (ii) require prepayment by wire transfer at least two (2) business days prior to a scheduled shipment of Product.
B. Seller shall prepare and fax to Buyer a weekly invoice by Tuesday of every week during the Month in an amount equal to the Price per short ton based on the previous Friday's Price multiplied by the short tons delivered to Buyer during the period from the previous Monday through Sunday based on the meter reading at the Delivery Point provided by Buyer to Seller every Monday. In the event, Seller agrees to sell to Buyer any of Buyer's Railcar Product Requirements as set forth in Article III, Section A, then Seller shall prepare and fax to Buyer a weekly invoice by Tuesday of such week, in an amount equal to the Price per short ton as determined in accordance with Article VI, Section A multiplied by the short tons shipped by Seller to Buyer during the period from the previous Monday through Sunday based on the ▇▇▇▇ of lading quantity for such railcar shipments during the week. In the event Seller supplies to Buyer both Product Requirements and Railcar Product Requirements during any given week, then Seller shall prepare and fax Buyer two (2) separate invoices. Any Product returned to Seller in a railcar shall...
CREDIT AND PAYMENT TERMS. All event accounts (without credit facilities) are to be paid in full to the Hotel at the time the booking is contracted. Any additional charges not itemised in the original contract are to be also paid for at the conclusion of the event by credit card or cash.