Common use of Payment of Subscription Clause in Contracts

Payment of Subscription. 8.1 The software subscription fee and period shall be as quoted by ▇▇▇▇▇ (“Subscription Fee”). ZEISS shall issue the invoice of subscription fee to the Subscriber and the payment is due without deduction at the beginning of each subscription period on receipt of invoice. . 8.2 All payments are subject to the goods and services, value added tax, and other relevant taxes which may be prevailing at the relevant time, and are due within thirty (30) days from the date of the invoice. In the event of default in payment, ZEISS may demand default interest at an annual rate of four per cent (4%) above the base lending rate of Deutsche Bank, on any outstanding amounts due and owing by the Subscriber to ZEISS, accruable and calculated on a daily basis from the due date to the date of full repayment (before and after judgment).