Common use of Modality of Payment with Credit Clause in Contracts

Modality of Payment with Credit. All the payments regarding the provided and invoiced Product shall be performed on the expiration date indicated in the invoice, debit note or promissory note, without the need to deliver any kind of document or of collation, payment reminder or account statement. Notwithstanding the Buyer pays habitually his debts to the Seller through the modality of Payment with Credit, the Seller reserves its right to supply the Product to the Buyer through the modality of payment in advance.

Appears in 3 contracts

Sources: Fourth Modifying Agreement to the Purchase and Sale Agreement of Anhydrous Ammonia (Innophos Investment Holdings, Inc.), Purchase and Sale Agreement (Innophos, Inc.), Fourth Modifying Agreement to the Purchase and Sale Agreement of Anhydrous Ammonia (Innophos Mexico Holdings, LLC)