Common use of MONIES DUE Clause in Contracts

MONIES DUE. If any sum due from the Buyer to the Seller under the Contract or any other contract or order is not paid to the Seller on or before the due date for payment, then all sums then owing by the Buyer to the Seller or any affiliate of the Seller shall become due and payable immediately and, without prejudice to any other right or remedy available to the Seller, the Seller and any affiliate shall be entitled to: (a) cancel or suspend performance of the Contract or any other contract or order placed with the Seller or any affiliate including suspending deliveries of the Equipment, Services and/or any other goods until arrangements as to payment or credit have been established which are satisfactory to the Seller; and/or (b) require the Buyer to pay for the Equipment and/or Services prior to shipment from the Seller’s place of business; and/or charge the Buyer interest calculated on a daily basis on all overdue amounts (both before and after judgment) until actual payment at the rate of one and one-half percent (1-1/2%) finance charge per month until payment is made in full.

MONIES DUE. If any sum due from the Buyer to the Seller under the Contract or any other contract or order is not paid to the Seller on or before the due date for payment, then all sums then owing by the Buyer to the Seller or any affiliate of the Seller shall become due and payable immediately and, without prejudice to any other right or remedy available to the Seller, the Seller and any affiliate shall be entitled to: (a) cancel or suspend performance of the Contract or any other contract or order placed with the Seller or any affiliate including suspending deliveries of the Equipment, Services and/or any other goods until arrangements as to payment or credit have been established which are satisfactory to the Seller; and/or (b) require the Buyer to pay for the Equipment and/or Services prior to shipment from the Seller’s place of business; and/or charge the Buyer interest calculated on a daily basis on all overdue amounts (both before and after judgment) until actual payment at the rate of one and one-half percent (1-1- 1/2%) finance charge per month until payment is made in full.