Common use of Final Balance Clause in Contracts

Final Balance. Final balance and additional costs specific to the Event (e.g., additional equipment rental, A/V equipment rental, left items, overtime personnel costs, and other items mutually agreed upon by Licensee and ▇▇▇▇ to be provided by ▇▇▇▇ for the Event) are due and payable, by one check, upon receipt of invoice. Any balances remaining after sixty (60) days from the balance due date shall be subject to a late charge of one and one-half percent (1.5%), compounded monthly.