Common use of Invoicing Schedule Clause in Contracts

Invoicing Schedule. BUYER agrees to pay to UTCP the Total Contract Price for the equipment and services described in this Agreement, based on the following invoicing schedule: • [***]% of the Total Contract Price shall be invoiced by UTCP upon BUYER receiving funding from or one or more affiliates of Me▇▇▇▇▇ ▇ynch, Pierce, Fe▇▇▇▇ ▇nd Sm▇▇▇., Inc. (the “Lender”) under the terms of that certain Credit Agreement (the “Credit Agreement”) between BUYER and Lender dated as of August 31, 2008 (the “Funding Date”) and shall then be due and payable by BUYER to UTCP within five business days of the Funding Date (the “Funding Payment”) in accordance with the payment terms below; • [***]% of the Total Contract Price shall be invoiced by UTCP upon delivery of the first 50% of the Equipment to the Destination and shall then be due and payable by BUYER to UTCP within thirty (30) business days of the date of the invoice in accordance with the payment terms below (the “First Delivery Payment”); • [***]% of the Total Contract Price shall be invoiced by UTCP upon delivery of the last unit of Equipment to the Destination and shall then be due and payable by BUYER to UTCP within thirty (30) business days of the date of the invoice in accordance with the payment terms below (the “Second Delivery Payment”);