Purchases and Payment Terms Clause Samples

The "Purchases and Payment Terms" clause defines the rules and conditions governing how goods or services are bought and how payments are to be made under the agreement. It typically outlines the process for placing orders, accepted payment methods, due dates for payment, and any applicable penalties for late payments. For example, it may specify that invoices must be paid within 30 days of receipt or that payment can be made via bank transfer or credit card. This clause ensures both parties have a clear understanding of their financial obligations, reducing the risk of disputes over payment timing or methods.
Purchases and Payment Terms 
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  • Purchase Price and Payment Terms 3.1 The Base Purchase Price for each Aircraft is * . 3.2 The Base Purchase Price shall be adjusted to determine the "Adjusted Base Purchase Price", as follows: 3.2.1 To include the cost of changes to the Customer Specification required by Buyer after the date hereof. 3.2.2 To include the cost of Regulatory Changes pursuant to the terms of Clause 2.3.2, except those paid directly by Buyer. 3.3 The Adjusted Base Purchase Price shall be adjusted to determine the "Purchase Price" to reflect changes in economic conditions * and (iii) the Adjusted Base Purchase Price shall not be adjusted for any period of delay of an Aircraft which is due to * 3.4 Buyer shall pay to Seller the Purchase Price for each Aircraft upon execution by Buyer of the Certificate of Acceptance for such Aircraft, provided, however, that with respect to any Aircraft delivered under a Lease Agreement, Buyer shall pay all amounts specified in the Lease Agreement due upon delivery of such Aircraft. 3.4.1 Subject to the conditions specified herein, the first Aircraft delivered under this Agreement shall be delivered to Buyer under a Lease Agreement. Buyer's obligation to pay the lease rentals due under such Lease Agreement shall be waived until the later of (i) March 1, 1997 or (ii) the date of completion of the J41 modification program currently being performed by Seller on Buyer's existing fleet of Jetstream 41 aircraft (the "Modification Program"), subject to the provisions of Section 3.4.2. 3.4.2 In the event the date of completion of the Modification Program is delayed due to reasons resulting from the acts or omissions of Buyer, the obligation to pay the lease rentals for such Aircraft shall occur on the date the Modification Program would have been completed if such acts or omissions of Buyer had not occurred. 3.5 Upon (i) delivery, acceptance and payment in full of the Purchase Price for each Aircraft in accordance with the terms of this Agreement, or, (ii) execution of a Lease Agreement on the Delivery Date for each Aircraft, * 3.6 All amounts payable by one party to the other pursuant to this Agreement shall be payable in U.S. Dollars in immediately available funds, by Federal Funds transfer or same day book entry transfer to the accounts specified in Exhibit E attached hereto.

  • Prices and Payment Terms A. Customer shall pay COMSTOR monthly recurring fees (the "Recurring Fees") which shall include charges for use and equipment storage in the Space (the "Collocation Fees"), as well as cross-connect fees (the "Cross-Connect Fees") and power charges (the "Power Charges"), if applicable. In addition to any Recurring Fees, Customer shall be charged non-recurring fees for build-out of the Space (the "Build-Out Charges"), including, where applicable, cross-connect installation fees and/or Dispatch Labor Charges, where applicable, all of which shall be set forth in the relevant Collocation Schedule and the Exhibits thereto. If Customer requests that COMSTOR provide services not delineated herein or in the collocation schedules at any time during the Term, such services shall be provided at prices mutually negotiated by the parties. B. Prices do not include taxes, except as specifically stated herein. Customer agrees to pay or reimburse COMSTOR for any applicable taxes that are levied based on the transactions hereunder, exclusive of COMSTOR's income taxes and real estate taxes on the Terminal Facility. Any such charges shall be invoiced and payable within the payment terms of this Agreement. COMSTOR agrees to provide Customer with reasonable documentation to support invoiced amounts for taxes within thirty (30) calendar days of receipt of a Customer written request. C. The Collocation Fee and/or Power Charges shall be increased by any increases or decreased by any decreases, incurred by COMSTOR and required under the lease relevant to the Premises in which the Space is located. Customer shall pay to COMSTOR its pro rata share of any such increases based on the number of square feet of the Space compared to the number of square feet leased by COMSTOR under the applicable lease. COMSTOR shall notify Customer of any such increase as soon as practicable. If such increases in the aggregate during the Term -------------------------------------------------------------------------------- 4 -------------------------------------------------------------------------------- exceed 3% then Customer shall have the right to terminate this agreement upon ninety (90) days written notice from COMSTOR, provided such notice is delivered to COMSTOR within thirty (30) days of COMSTOR's notice to Customer. D. All Recurring Fees shall be invoiced in the beginning of each month commencing on the first day of the Term as identified in the Collocation Schedule and thereafter, on the first day of each calendar month. Charges for partial months shall be prorated accordingly. All Recurring Fees shall be payable net sixty (60) days from date of invoice. Late payments shall be subject to late charges if payment is not received within the payment term period. The late payment charges will be calculated based on 1.5% per month of the unpaid amount. E. Customer agrees to reimburse COMSTOR for all reasonable repair or restoration costs associated with damage or destruction caused by Customer's personnel, Customer's agents, Customer's customers, or Customer's suppliers/contractors or Customer's visitors during the Term or as a consequence of Customer's removal of the Equipment or property installed in the Space.

  • Price and Payment Terms 3.1 In consideration of the provision of the Services by Provider as may be requested by the Trust pursuant to a SOW, and subject to the terms of this Agreement, the Trust will pay Provider the SOW Agreement Amount or SOW Fees as defined in and set forth in each executed SOW (or SOW Modification Memorandum issued by the Trust) for the Services expressly authorized in each such SOW. 3.2 Where the Services are provided on a time and materials basis, the fees payable for the Services shall be calculated in accordance with Provider's hourly fee rates as set forth in Provider’s proposal in response to the RFQ (the “Proposal”), which rates include all Provider personnel costs and wages, taxes, overhead, general and administrative expenses, and profit. Services shall be provided by the personnel designated in the Proposal and Provider shall not increase the hourly fee rates unless expressly agreed in writing in advance by the Trust. The Trust will reimburse Provider for reasonable direct costs and expenses incurred for the benefit of the Trust in connection with the Services, without mark-up. Provider shall exercise best efforts to perform and deliver the Services in the most efficient and cost effective manner, assigning only that level of staffing as is reasonably necessary to perform the particular task(s) at issue. Provider agrees to implement reasonable cost control measures so as to enable the full performance of Services as specified in an SOW within the Trust’s specified not to exceed SOW Fee. Provider shall issue invoices to the Trust monthly in arrears for its fees for the immediately preceding month, together with a detailed breakdown of allowable expenses for such month incurred in accordance with this Agreement. The total payments to Provider for Services specified in an executed SOW shall not exceed the SOW Fee set forth in the SOW unless expressly authorized in advance by the Trust through a written SOW Modification Memorandum. 3.3 Where Services are provided for a fixed price, the total fee for the Services shall be the amount set forth in the applicable SOW as the SOW Agreement Amount. The SOW Agreement Amount includes payment for all Services and materials and includes all Provider administrative and operating expenses with respect to the Services. The SOW Agreement Amount shall be paid to Provider upon completion and delivery of all required Services under an executed SOW and presentation of a final invoice by Provider. 3.4 Notwithstanding Section 3.3 of this Agreement, for certain Services to be performed at a fixed price, the Trust may require that an SOW provide for periodic payment of the SOW Agreement Amount in installments upon achievement of agreed upon milestones by specifying such method in an SOW. In such case, the SOW Agreement Amount shall be paid to Provider in installments, with each installment being conditioned on Provider achieving the corresponding milestone as set forth in the SOW (“Project Milestone”). On achieving a Project Milestone in respect of which an installment is due, Provider shall issue an invoice to the Trust for the amounts that are then payable. The Trust may require that Provider produce documentation or other evidence of satisfaction of each Project Milestone as a condition of payment. The total payments to Provider for Services specified in an executed SOW shall not exceed the SOW Agreement Amount in the applicable SOW unless expressly authorized in advance by the Trust through a written SOW Modification Memorandum. 3.5 Provider invoices must be submitted on Trust approved forms and must contain sufficient detail to allow proper cost allocation. Invoices must be accompanied by supporting documentation for all charges and costs. In lieu of mailing, invoices and supporting documentation may be submitted via electronic mail to ▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇@▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇.▇▇▇, with a copy to the Trust’s designated Agreement Administrator. Invoices require the following: (a) All invoices must include the Standard Services Agreement number. (b) All invoices must include Provider’s Federal Tax ID Number. (c) For a time and materials contract, all invoices must include a breakdown of work performed and expenses incurred during the invoice period and indicate the personnel who performed the services, the date of service, the nature of the work, the duration of the work, the rate charged therefor, and the cost of materials. Invoices will be paid by the Trust thirty (30) days following receipt of the required invoice and all supporting documentation. 3.6 By submitting any invoice or request for reimbursement, Provider is representing that the Services or costs identified in the invoice or request for reimbursement have actually been performed, provided or expended, are within the scope of the executed SOW, and that such costs and expenses are allowable in accordance with this Agreement. Provider will not be paid for any time, material, expense or services outside of an SOW or in excess of the SOW Fees or SOW Agreement Amount specified in an executed SOW unless expressly agreed in writing in advance by the Trust.

  • Fees and Payment Terms The Influencer shall receive a base fee of $[INSERT AMOUNT] for the creation and publication of the Deliverables as specified in Schedule 1. For the purposes of this Agreement, “

  • Purchase Price and Payment Date Each Asset purchased by the Receiver pursuant to this Section 3.4 shall be purchased at a price equal to the Repurchase Price of such Asset less the Related Liability Amount applicable to such Asset, in each case determined as of the applicable Put Date. If the difference between such Repurchase Price and such Related Liability Amount is positive, then the Receiver shall pay to the Assuming Institution the amount of such difference; if the difference between such amounts is negative, then the Assuming Institution shall pay to the Receiver the amount of such difference. The Assuming Institution or the Receiver, as the case may be, shall pay the purchase price determined pursuant to this Section 3.4(d) not later than the twentieth (20th) Business Day following the applicable Put Date, together with interest on such amount at the Settlement Interest Rate for the period from and including such Put Date to and including the day preceding the date upon which payment is made.