PAYMENTS AND BILLING. The Bank agrees to pay RDSI for services performed hereunder in accordance with the changes set forth in this Agreement. RDSI shall invoice during the first ten (10) days of each month for services performed during the prior month. Payment by the Bank shall be net ten (10) days from the invoice date. Any invoice aged thirty-one (31) days from the date is subject to a service charge of one percent (1%) of the unpaid balance. No late charge will be imposed by RDSI to the Bank in the case of amounts past due that are reasonably in dispute.
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Sources: Data Processing Agreement (Michigan Community Bancorp LTD), Data Processing Agreement (Michigan Community Bancorp LTD)
PAYMENTS AND BILLING. The Bank agrees to pay RDSI for services performed hereunder in accordance with the changes charges set forth in this Agreement. RDSI shall invoice during the first ten (10) days of each month for services performed during the prior month. Payment by the Bank shall be net ten (10) days from the invoice date. Any invoice aged thirty-one (31) days from the date is subject to a service charge of one percent (1%) of the unpaid balance. No late charge will be imposed by RDSI to the Bank in the case of amounts past due that are reasonably in dispute.
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