FRANCHISEE TO PAY PROMPTLY Sample Clauses

FRANCHISEE TO PAY PROMPTLY. Franchisee agrees to pay V2K and all vendors promptly for all services and goods. If Franchisee fails to pay timely as required in this Agreement or the Policy & Procedures Manual, Franchisee agrees that V2K has the right to stop processing orders from Franchisee and hold shipment on all pending orders. Franchisee also assigns and authorizes V2K to collect any monies due and owing from customers on such orders and to apply said monies for payment of said order and on any past due balances. Payments by Franchisee may be withheld or reduced only for the portion of an invoice being disputed by Franchisee as evidenced by a written notification to V2K by Franchisee; and then only until V2K determines the validity of the dispute, at which time Franchisee must pay to V2K or the vendor (as applicable) all or the portion of the disputed amount determined by V2K to be valid (if any).
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