Common use of Service Fees and Payment Terms Clause in Contracts

Service Fees and Payment Terms. a) Pricing for Services provided under this Support Agreement shall be as set forth in Exhibit C-2, except that in the case of Professional Services provided under this Support Agreement the pricing of such Professional Services shall be at Cisco's then current list price at the time the Statement of Work is executed by both Cisco and the Customer, or as specified in the Statement of Work. All stated prices are exclusive of any taxes, fees and duties or other amounts, however designated, and including without limitation value added and withholding taxes which are levied or based upon such charges, or upon this Support Agreement (other than taxes based on the net income of Cisco). Any taxes related to Services purchased or licensed pursuant to this Support Agreement shall be paid by Customer or Customer shall present an exemption certificate acceptable to the taxing authorities. Applicable taxes shall be billed as a separate item on the invoice, to the extent possible. b) Upon and subject to credit approval by Cisco, payment terms shall be net thirty (30) days from invoice date. Unless otherwise specified, all Services shall be invoiced annually in advance. Professional Services shall be invoiced as set forth in the Statement of Work. All payments shall be made in U.S. currency. If at any time Customer is delinquent in the payment of any invoice or is otherwise in breach of this Support Agreement, Cisco may, in its discretion, and without prejudice to its other rights, withhold entitlement to any Services. Any sum not paid by Customer when due shall bear interest until paid at an annual rate equal to the Prime Rate plus 2% per annum or the maximum rate permitted by law, whichever is less.