Invoicing and Payment Procedures. 7.2.1 The Seller shall apply the invoice issued pursuant to the provisions of the relevant Laws and this Agreement by delivering it to the Buyer. 7.2.2 The invoices to be issued for the Buyer shall be based on the quantity of electricity set forth in the Schedules approved by MAVIR as defined in the TR. 7.2.3 The Seller shall issue invoices twice a Month as follows: The Seller shall send the Buyer an invoice in a documented way pursuant to Section 7.2.2 (to the e-mail address provided by the Buyer electronically or to the fax number provided by the Buyer by fax, and the original copy of the invoice by post) by the 18th Day of the subject month or, if it is a Non-business Day, by the first subsequent Business Day, as well as by the 3rd Day of the month following the subject month or, if it is a Non-business Day, by the first subsequent Business Day, and the Buyer shall pay it not later than by the eighth (8th) Calendar Day of receipt thereof or, if it falls on a Non-business Day, on the first subsequent Business Day, by transfer to the bank account number specified by the Seller. The invoice shall be deemed to have been served at the date and time of the dispatch thereof by e-mail or fax. The due date of the invoice shall be calculated from this date if the Buyer received the original copy of the invoice on the Banking Day preceding the Calendar Day stated in the invoice (due date). If the original copy of the invoice is not received by the date indicated above, the due date thereof shall be the fifth Business Day of receipt of the original copy. 7.2.4 The payment obligation of the Parties shall be regarded as to have been fulfilled on the Day when the bank of the payee credited the amount stated in the invoice of the payee to the bank account of the payee. 7.2.5 The invoice shall meet the minimum content requirements defined by Law. 7.2.6 In case of the late performance of the payment obligations, the Buyer shall pay the Seller default interest for the period from the date of delay until the date of payment. The default interest rate shall be the prevailing base rate of interest of the Hungarian Central Bank + 3%.
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Samples: Power Purchase Agreement, Power Purchase Agreement, Power Purchase Agreement