Amount and Times of Payment to Lessee. Xxxxxx agrees to pay Lessor or its assign the Lease Payments set forth in an Appendix in equal monthly or semi-annual payments, or otherwise as set forth below. The initial monthly Lease Payment by the Agency shall be due on the first day of the month that is the second month following the Vendor Payment Date. The initial semi-annual Lease Payment by the Agency shall be due on the first day of the month that is six months after the month following the Vendor Payment Date. Initial monthly or semi-annual Lease Payments shall include accrued interest from the Vendor Payment Date. Interest shall be calculated on a 30/360 basis. Lease Payments may be made, upon mutual agreement between the Lessor and the Lessee on an annual basis. For annual lease payments, the initial Lease Payment by the Agency shall be made on the first day of the month which is twelve months after the month following the month of the Vendor Payment Date as shown on an Appendix. Accrued interest and regular interest shall be calculated as stated herein. Invoices shall be submitted by the Lessor directly to the Agency at the Agency Billing Address shown on the Appendix with a payment term of not less than 30 days. All invoices shall show the state Contract/Agreement number and the federal employer identification number of the Lessor. Lessor may coordinate an alternative payment method (e.g., EDI or other electronic means) with the consent of the Agency. The date of postmark where payment is made by mail, the date of the express mail package where payment is made by express mail, or the date of the transfer where payment is made electronically shall be deemed to be the date of payment by the Agency to the Lessor. Except as provided in Section 4.4, the Agencies shall be required to make Lease Payments and any other payments required hereunder. Notwithstanding any dispute between Lessee and Lessor or any other person, Agencies shall make all Lease Payments and other payments required hereunder when due and shall not assert any right of set-off or counterclaim against its obligation to make such Lease Payments or other payment required under this Agreement.
