Due and Payable Date definition
Examples of Due and Payable Date in a sentence
For the avoidance of doubt in each case if such Due and Payable Date is not a Business Day the Due and Payable Date shall be the next following Business Day.
Any invoice containing the aforementioned errors shall not entitle the Seller or Buyer to withhold payment of the invoice by the Due and Payable Date, other than amounts, which are subject to Dispute in accordance with Section 10.6. For the avoidance of doubt: any adjusted amount under this Section 10.4 (e) shall not attract any late payment charges.
Provided that if the requisite information (which is reasonably required) is furnished after five (5) Business Days of receipt of such request, the Due and Payable Date of such invoice shall be extended proportionately.
Failure to maintain the Escrow facility in place, or, following any draw on the Escrow Account by Seller for an undisputed amount not paid by the Due and Payable Date for the relevant amount, failure to reinstate the Escrow Account balance to the required amount, in either case within ten (10) Business Days of Seller’s notice to the Purchaser that the Escrow was either not in place or that Seller made a draw on the Escrow.