Common use of DEPOSIT AND PREPAYMENT Clause in Contracts

DEPOSIT AND PREPAYMENT. 6.1 The Seller is entitled to demand from the Buyer a prepayment and/or deposit, if: 6.1.1 The Buyer has within the last 12 (twelve) months delayed payment of the fee more than 10 (ten) days and more than 3 (three) times; 6.1.2 The Seller has reasonable doubts about the solvency of the Buyer. 6.2 The amount of deposit may not exceed the fee for 2 (two) accounting periods that has been determined based on the consumption of the last 12 (twelve) months, or, in case of absence of such data, on the consumption of a similar place of consumption in the last 12 (twelve) months. 6.3 The amount of prepayment may not exceed the fee for 2 (two) accounting periods that has been determined based on the consumption of the last 12 (twelve) months, or, in case of absence of such data, on the consumption of a similar place of consumption in the last 12 (twelve) months. 6.4 No interest is calculated or paid on the prepayment and deposit paid under clause 6.1. The deposit shall be subject to interest, which shall be calculated and rendered pursuant to the deposit agreement. The Seller is entitled to keep the deposit until the end of the Contract; however, if the Buyer duly performs its contractual obligations, the Seller shall return the deposit within 12 (months), at the latest, after receipt of the deposit. If upon termination of the Contract the Buyer has outstanding commitments towards the Seller, the Seller shall cover the said commitments on the account of the deposit and/or prepayment and/or within the prepayment and/or deposit; in addition, commitments not satisfied on the account of the deposit and/or prepayment shall be fulfilled by the Buyer. If upon termination of the Contract the Buyer does not have any commitments towards the Seller, the Seller shall return the deposit to the Buyer within 30 (thirty) days as of termination of the Contract. 6.5 More specific conditions concerning the prepayment and deposit shall be stipulated in a prepayment and/or deposit arrangement to be signed between the Seller and the Buyer.

DEPOSIT AND PREPAYMENT. 6.1 The Seller is entitled to demand from the Buyer a prepayment and/or deposit, if: 6.1.1 The Buyer has within the last 12 (twelve) months delayed payment of the fee more than 10 (ten) days and more than 3 (three) times; 6.1.2 The Seller has reasonable doubts about the solvency of the Buyer. 6.2 The amount of deposit may not exceed the fee for 2 (two) accounting periods that has been determined based on the consumption of the last 12 (twelve) months, or, in case of absence of such data, on the consumption of a similar place of consumption in the last 12 (twelve) months. 6.3 The amount of prepayment may not exceed the fee for 2 (two) accounting periods that has been determined based on the consumption of the last 12 (twelve) months, or, in case of absence of such data, on the consumption of a similar place of consumption in the last 12 (twelve) months. 6.4 No interest is calculated or paid on the prepayment and deposit paid under clause 6.1. The deposit shall be subject to interest, which shall be calculated and rendered pursuant to the deposit agreement. The Seller is entitled to keep the deposit until the end of the Contract; however, if the Buyer duly performs its contractual obligations, the Seller shall return the deposit within 12 (months), at the latest, after receipt of the deposit. If upon termination of the Contract the Buyer has outstanding commitments towards the Seller, the Seller shall cover the said commitments on the account of the deposit and/or prepayment and/or within the prepayment and/or deposit; in addition, commitments not satisfied on the account of the deposit and/or prepayment shall be fulfilled by the Buyer. If upon termination of the Contract the Buyer does not have any commitments towards the Seller, the Seller shall return the deposit to the Buyer within 30 (thirty) days as of termination of the Contract.Buyer 6.5 More specific conditions concerning the prepayment and deposit shall be stipulated in a prepayment and/or deposit arrangement to be signed between the Seller and the Buyer.