Common use of Overdue Fees Clause in Contracts

Overdue Fees. Unless the Agreement specifies otherwise, ▇▇▇▇▇ ▇▇▇▇▇▇ shall invoice Client immediately upon acceptance. Each invoice is due and payable fourteen (14) days after the invoice date, unless the Agreement specifies otherwise. If ▇▇▇▇▇ ▇▇▇▇▇▇ has not received payment within five days after the due date, and without prejudice to any other rights and remedies of ▇▇▇▇▇ ▇▇▇▇▇▇: (a) ▇▇▇▇▇ ▇▇▇▇▇▇ shall be under no obligation to provide any License or Professional Services (including access to the Platform) while the invoice(s) concerned remain unpaid; and (b) interest shall accrue on a daily basis on the balance due up a monthly rate of 1.5%, commencing on the due date and continuing until fully paid.