Common use of Billings and Payments Clause in Contracts

Billings and Payments. 6.01 All bills for amounts owex xx xxx party hereto to the other shall be due and payable on the fifteenth day of the month next following the month in which the service was provided, or on the tenth day following receipt of a bill therefor, whichever is later. Interest on unpaid xxxunts shall accrue at the annual rate of 1/2 percent above the prime commercial lending rate established from time to time by Indiana National Bank at Indianapolis, Indiana and is chargeable from the due date of the bill to the date of payment. The term "month" shall mxxx a calendar month for the purpose of settlements under this agreement.

Billings and Payments. 6.01 All bills for amounts owex xx xxx owed by one party hereto to xxxxxx xo the other shall be due and payable on the fifteenth day of the month next following the month in which the service was provided, or on the tenth day following receipt of a bill therefor, whichever is later. Interest on unpaid xxxunts amounts shall accrue xxxxue at the annual rate of 1/2 percent above the prime commercial lending rate established from time to time by Indiana National Bank at Indianapolis, Indiana and is chargeable from the due date of the bill to the date of payment. The term "month" shall mxxx mean a calendar month xxxxh for the purpose of settlements under this agreement.