Common use of Invoice and Payment Terms Clause in Contracts

Invoice and Payment Terms. A. Reduct shall invoice Licensee simultaneously with the issuance by Reduct of an Acceptance Notice. The invoice shall be sent by facsimile transmission or electronic mail and shall set forth the total purchase price (the “Purchase Price”) of all Products included in the order, as well as all charges owed by Licensee under this Article V. The invoice shall also provide Licensee’s P.O. number allocable to the order, a description of the Products or component parts being manufactured and assembled, the price of all Products reflected in the P.O. and any discount in effect for the Products. At that time Reduct shall also provide Licensee with a current statement of account listing any and all outstanding invoices and any payments made or credits given since the previous statement. B. Except as otherwise specifically provided in Section 2.1, Section 8.1 and Schedule 2.1 of this Agreement, upon receipt of Reduct’s invoice, Licensee shall pay Reduct one hundred percent (100%) of the total Purchase Price for such Products. All payments to Reduct for the Products in accordance with this Section 5.4B shall be made to: Beneficiary: Reduct NV Bank: KBC Bank Address: ▇▇▇▇▇ ▇▇▇▇, ▇▇▇▇▇▇▇▇▇▇▇▇▇ ▇▇▇ ▇▇▇▇ ▇▇▇▇▇▇▇▇, ▇▇▇▇▇▇▇ Account No: ▇▇▇-▇▇▇▇▇▇▇-65 IBAN: ▇▇▇▇ ▇▇▇▇ ▇▇▇▇ ▇▇▇▇ BIC: ▇▇▇▇▇▇▇▇ US Corresponding Bank: KBC Bank, New York Account No: ▇▇▇▇▇▇▇▇▇ BIC: ▇▇▇▇▇▇▇▇

Invoice and Payment Terms. A. Reduct shall invoice Licensee simultaneously with the issuance by Reduct of an Acceptance Notice. The invoice shall be sent by facsimile transmission or 11 electronic mail and shall set forth the total purchase price (the “Purchase Price”) Price of all Products included in the order, as well as all charges owed by Licensee under this Article V. The invoice shall also provide Licensee’s P.O. number allocable to the order, a description of the Products or component parts being manufactured and assembled, the price of all Products reflected in the P.O. and any discount in effect for the Products. At that time Reduct shall also provide Licensee with a current statement of account listing any and all outstanding invoices and any payments made or credits given since the previous statement. . B. Except as otherwise specifically provided in this Article V, specifically Section 2.15.2, Section 8.1 and Schedule 2.1 within thirty (30) days of this Agreement, upon receipt of Reduct’s invoice, Licensee shall pay Reduct one hundred percent (100%) of the total Purchase Price for such Products. All payments to Reduct for the accepted Products in accordance with this Section 5.4B 5.4 B shall be made to: Beneficiary: Reduct NV Bank: KBC Bank Address: ▇▇▇▇▇ ▇▇▇▇, ▇▇▇▇▇▇▇▇▇▇▇▇▇ ▇▇▇ ▇▇▇▇ ▇▇▇▇▇▇▇▇, ▇▇▇▇▇▇▇ Account No: ▇▇▇-▇▇▇▇▇▇▇-65 IBAN: ▇▇▇▇ ▇▇▇▇ ▇▇▇▇ ▇▇▇▇ BIC: ▇▇▇▇▇▇▇▇ US Corresponding Bank: KBC Bank, New York Account No: ▇▇▇▇▇▇▇▇▇ BIC: ▇▇▇▇▇▇▇▇

Invoice and Payment Terms. A. Reduct shall invoice Licensee simultaneously with the issuance by Reduct of an Acceptance Notice. The invoice shall be sent by facsimile transmission or electronic mail and shall set forth the total purchase price (the “Purchase Price”) Price of all Products included in the order, as well as all charges owed by Licensee under this Article V. The invoice shall also provide Licensee’s P.O. number allocable to the order, a description of the Products or component parts being manufactured and assembled, the price of all Products reflected in the P.O. and any discount in effect for the Products. At that time Reduct shall also provide Licensee with a current statement of account listing any and all outstanding invoices and any payments made or credits given since the previous statement. B. Except as otherwise specifically provided in this Article V, specifically Section 2.15.2, Section 8.1 and Schedule 2.1 within thirty (30) days of this Agreement, upon receipt of Reduct’s invoice, Licensee shall pay Reduct one hundred percent (100%) of the total Purchase Price for such Products. All payments to Reduct for the accepted Products in accordance with this Section 5.4B 5.4 B shall be made to: Beneficiary: Reduct NV Bank: KBC Bank Address: ▇▇▇▇▇ ▇▇▇▇, ▇▇▇▇▇▇▇▇▇▇▇▇▇ ▇▇▇ ▇▇▇▇ ▇▇▇▇▇▇▇▇, ▇▇▇▇▇▇▇ Account No: ▇▇▇-▇▇▇▇▇▇▇-65 IBAN: ▇▇▇▇ ▇▇▇▇ ▇▇▇▇ ▇▇▇▇ BIC: ▇▇▇▇▇▇▇▇ US Corresponding Bank: KBC Bank, New York Account No: ▇▇▇▇▇▇▇▇▇ BIC: ▇▇▇▇▇▇▇▇