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 to Verizon shall be deemed made on the date it is received by Verizon. Payments shall be transmitted by electronic funds transfer.