Common use of Purchase Invoices Clause in Contracts

Purchase Invoices. (i) On every Monday, Company will invoice Purchaser for the total XRP withdrawn in the previous week in US Dollar (“USD”) or Singapore Dollar (“SGD”) equivalent together with the applicable On-Demand Service Fee with respect to (A) withdrawals made on behalf of Purchaser itself (“Treasury Invoice”) and (B) withdrawals made on behalf of a third party RippleNet Cloud customer (“RNC Customer Invoice”) (for the avoidance of doubt, Company will provide Purchaser with two separate invoices). (ii) Purchaser shall pay the Company the amount in any undisputed invoice in USD or SGD on or before the invoice due date, which for the avoidance of doubt, shall be (A) with respect to a Treasury Invoice, on the date of such invoice, and (B) with respect to an RNC Customer Invoice, two Business Days following the date of such invoice. Purchaser shall send the Company a receipt (i.e. confirmation of a wire transfer, etc.) confirming such payment on or before the invoice due date. (iii) For any Committed XRP purchased and withdrawn by Purchaser, Purchaser agrees to pay Company an On-Demand Service Fee as set out in Appendix E of the Agreement. Such On- Demand Service Fee shall be calculated based on the total XRP purchased and charged in the billing currency of the applicable invoice.” 4. Appendix E of the Agreement shall be deleted in its entirety and replaced by Appendix E hereto.

Purchase Invoices. (i) On every MondayMonday and Wednesday, Company will invoice Purchaser for the total XRP withdrawn in since the previous week last invoice was issued, in US Dollar (“USD”) or Singapore Dollar (“SGD”) equivalent together with the applicable On-Demand Service Fee with respect to (A) withdrawals made on behalf of Purchaser itself (“Treasury Invoice”) and (B) withdrawals made on behalf of a third party RippleNet Cloud customer (“RNC Customer Invoice”) (and, for the avoidance of doubt, Company will provide Purchaser with two separate invoices)invoices and each invoice will state the period covered, such period being: (A) in the case of an invoice issued on a Monday, the period from Wednesday 00:00:00 UTC to Sunday 23:59:59 UTC immediately prior to that Monday; and (B) in the case of an invoice issued on a Wednesday, the period from Monday 00:00:00 UTC to Tuesday 23:59:59 UTC immediately prior to that Wednesday. (ii) For purposes of this Section 2(b), withdrawals are deemed to be made on a calendar day if made between 00:00:00 – 23:59:59 UTC. (iii) Purchaser shall pay the Company the amount in any undisputed invoice in USD or SGD on or before the invoice due dateSGD, which for the avoidance of doubt, shall be (A) with respect to a Treasury Invoice, on the date immediately upon receipt of such invoice, and (B) with respect to an RNC Customer Invoice, two Business Days following the date of such undisputed invoice. Purchaser shall send the Company a receipt (i.e. confirmation of a wire transfer, etc.) confirming such payment on or before the invoice due date. (iiiiv) For any Committed XRP purchased and withdrawn by Purchaser, Purchaser P▇▇▇▇▇▇▇▇ agrees to pay Company an On-Demand Service Fee as set out in Appendix E of the Agreement. Such On- On-Demand Service Fee shall be calculated based on the total XRP purchased and charged in the billing currency of the applicable invoice.” 42. Appendix E of the Agreement shall be Section 2(c) (Late Fees) is deleted in its entirety and replaced by Appendix E hereto.with the following: