Common use of BILLING AND PAYMENT OF CHARGES Clause in Contracts

BILLING AND PAYMENT OF CHARGES. Except as may otherwise be provided in this Amendment, each Party shall submit to the other Party on a monthly basis, an itemized statement of charges incurred by the other Party during the preceding month(s) (or, in the case of non-usage sensitive charges, the forthcoming month(s)) for Services rendered hereunder (an “Invoice”). Broadview’s payment of billed amounts under this Amendment, whether billed on a monthly basis or as otherwise provided herein, shall be due, in immediately available U.S. funds, on or before the later of the following dates (the “Due Date”): (a) thirty (30) calendar days after the date of the Invoice; or (b) twenty (20) calendar days after the date the Invoice is received by the billed Party. If such payment Due Date would cause Broadview’s payment to be due on a Sunday or Legal Holiday which is observed on a Monday, payment will be due the first business day following such Sunday or Legal Holiday. If such payment Due Date would cause Broadview’s payment to be due on a Saturday or on a Legal Holiday which is observed on Tuesday, Wednesday, Thursday, or Friday, the payment will be due on the last non-Legal-Holiday day preceding such Saturday or Legal Holiday. For purposes of this section, a “Legal Holiday” is defined as a day, other than Saturday or Sunday, that is designated a bank holiday by the Federal Reserve (or such other bank as the Parties mutually agree upon). For the avoidance of any doubt, a payment to Verizon shall be deemed made on the date it is received by Verizon. Payments shall be transmitted by electronic funds transfer.

BILLING AND PAYMENT OF CHARGES. (a) Except as may otherwise be provided in this Amendment, each Party shall submit to the other Party via electronic transmission (as set forth in this Amendment) on a monthly basis, an itemized statement of charges incurred by the other Party during the preceding month(s) (or, in the case of non-usage sensitive charges, the forthcoming month(s)) for Services rendered hereunder (an “Invoice”). Broadview’s payment Payment of billed amounts under this Amendment, whether billed on a monthly basis or as otherwise provided herein, shall be due, in immediately available U.S. funds, on or before the later of the following dates (the “Due Date”): (ai) the due date specified in the Invoice, which shall reflect a thirty (30) calendar days after the date of the Invoiceday xxxx cycle; or (bii) twenty (20) calendar days after the date the final electronic Invoice is received by the billed Party (as evidenced by the electronic transmission records), or to the extent Invoices are transmitted via an alternative medium (other than electronic transmission) pursuant to Section 6 of this Amendment, twenty (20) calendar days from the receipt of such Invoices by the billed Party. If such payment Due Date would cause Broadview’s payment to be due on a Saturday, Sunday or Legal Holiday, payment for such Invoices will be due from the billed Party as follows: (A) if such payment Due Date falls on a Sunday or on a Legal Holiday which is observed on a Monday, the payment will Due Date shall be due the first business non-Holiday day following such Sunday or Legal Holiday. If ; or (B) if such payment Due Date would cause Broadview’s payment to be due falls on a Saturday or on a Legal Holiday which is observed on Tuesday, Wednesday, Thursday, Thursday or Friday, the payment will Due Date shall be due on the last non-Legal-Holiday day preceding such Saturday or Legal Holiday. For purposes of this section, a “Legal Holiday” is defined as a day, day other than Saturday or Sunday, that Sunday which is designated a bank holiday by the Federal Reserve (or such other bank as the Parties mutually agree upon). For the avoidance of any doubt, a payment . (b) AT&T shall make all payments to Verizon in U.S. Dollars via electronic funds credit transfers through the Automated Clearing House Association (ACH) network or by wire transfer to the financial institution designated by Verizon. At least thirty (30) calendar days prior to the first transmission of billing data and information for payment, Verizon will provide the name and address of its bank, its account and routing number and to whom billing payments should be made payable. If such banking information changes, Verizon will provide AT&T at least sixty (60) calendar days written notice of the change, and such notice will include the new banking information. Verizon shall abide by the National Automated Clearing House Association (NACHA) Rules and Regulations. Each ACH credit transfer from AT&T shall be deemed received by Verizon no later than the applicable Due Date of each Invoice or a Late Payment Charge will apply as provided in Section 12. Verizon shall not be liable for any delays in receipt of funds or errors in entries caused by AT&T or third parties, including AT&T’s financial institution. AT&T is responsible for its own banking fees. (c) Verizon shall make all payments to AT&T in U.S. Dollars through EFT or EDI to the bank identified on the AT&T remittance document. At least thirty (30) calendar days prior to the first transmission of billing data and information for payment, AT&T will provide the name and address of its bank, its account and routing number and to whom billing payments should be made payable. If such banking information changes, AT&T will provide Verizon at least sixty (60) calendar days written notice of the change and such notice will include the new banking information. AT&T shall abide by the National Automated Clearing House Association (NACHA) Rules and Regulations. Each Verizon payment shall be received by AT&T no later than the applicable Due Date of each Invoice or a Late Payment Charge will apply as provided in Section 12. AT&T shall not be liable for any delays in receipt of funds or errors in entries caused by Verizon or third parties, including Verizon’s financial institution. Verizon is responsible for its own banking fees. (d) Verizon and AT&T shall provide each other with remittance advices, providing detailed account information for proper application of the payment made by the billed Party. The remittance advice shall be transmitted electronically by 1:00 A.M. Eastern Time on the date it the payment is received by Verizoneffective, via an 820 EDI or EFT process, or, if the Parties agree, through the ACH network. Payments Such process shall be transmitted utilized by electronic funds transferthe Parties beginning no later than three (3) months after the Effective Date of this Amendment, unless otherwise agreed between the Parties. (e) In the event the billed Party receives multiple and/or other Invoices from the billing Party that are payable on the same date, the billed Party may remit one payment for the sum of all such Invoices payable to the billing Party’s bank account designated pursuant to the terms above, and the billed Party will provide the billing Party with a payment advice pursuant to Section 10(d).