Common use of FEE AND PAYMENT Clause in Contracts

FEE AND PAYMENT. 4.1 In consideration for the rights granted to it under this Agreement, the Customer shall pay to VUCITY the fee set out in the Order Form for the number of Users of the Product as set out in the Order Form. The fee is to be paid in pounds sterling (£) and is exclusive of any VAT, duties, bank fees, sales tax, or excise or similar or other taxes due. 4.2 If the Customer wishes to add additional Users, the additional fees per each additional User will be set out in the Order Form. Where additional Users are added during the term of the Agreement, the fees will be pro-rated accordingly from the beginning of the month in which use is commenced. 4.3 The Customer shall not be entitled by reason of any set-off, counterclaim, abatement or other similar deduction to withhold payment of any amount due to VUCITY. 4.4 VUCITY shall invoice the Customer for the Fee on the Commencement Date and on each anniversary of the Commencement Date during the Term (and any Renewal Period as agreed) thereafter or where additional Users are added, as soon as the number of additional Users is agreed. The Customer shall pay the Fee within 30 days of receipt of the invoice. 4.5 VUCITY shall be entitled to charge the Customer interest on all overdue payments at a rate of 2% per month, compounded monthly, on the outstanding balance. 4.6 If the Customer fails to comply with this clause 4, then VUCITY reserves the right to terminate this Agreement in accordance with clause 7 below. 4.7 VUCITY reserves the right to increase the Fee for any Renewal Period entered into under clause 7. Should VUCITY wish to increase the Fee for the Renewal Period, it shall notify the Customer 90 days’ before the end of the Term or relevant Renewal Period.