Common use of License Fee and Payment Terms Clause in Contracts

License Fee and Payment Terms. 6.1 In consideration of Licensor’s performance of its obligations under this License Agreement and the License granted from Licensor to Licensee hereunder the Licensee agrees to pay to Licensor the license fee calculated in accordance with what is set forth Appendix 2 (“License Fee”) by bank transfer. 6.2 The License fee shall be invoiced monthly within fifteen (15) days after receiving the report of the Net Revenue from the Licensee as stated in Appendix 2, Section 2.5. 6.3 The License fee shall be invoiced in RMB and paid by the Licensee to the Licensor within forty-five (45) days upon issue date of the invoice. 6.4 All amounts referred to in this License Agreement are exclusive of VAT and any other taxes, for example withholding tax and surcharges. The Licensee shall bear the VAT and the Licensor shall bear the withholding tax and surcharges. Each party shall bear its own stamp duty payable in their respective jurisdiction that are applicable in accordance with local legislation to all amounts referred to in this License Agreement. Any amount invoiced by the Licensor to the Licensee shall be without Chinese VAT. The Licensee shall promptly provide the Licensor with all material and evidence of tax withheld. 6.5 Payment made later than the due date under Section 6.3 shall automatically be subject to interest for late payments for each day it is not paid and the interest shall be based on the one-month applicable interbank rate, depending on invoice and currency, with an addition of two per cent (2.0%) per annum. 6.6 Notwithstanding anything to the contrary in this License Agreement, any portion of the License Fee shall be non-refundable.

License Fee and Payment Terms. 6.1 In consideration of Licensor’s performance of its obligations under this License Agreement and the License granted from Licensor to Licensee hereunder the Licensee agrees to pay to Licensor the license fee calculated in accordance with what is set forth Appendix 2 (“License Fee”) by bank transfer. 6.2 The License fee shall be invoiced monthly within fifteen (15) days after receiving the report of the Net Revenue from the Licensee as stated in Appendix 2, Section 2.5. 6.3 The License fee shall be invoiced in RMB and paid by the Licensee to the the. Licensor within in forty-five (45) days upon issue date of the invoice. 6.4 All amounts referred to in this License License. Agreement are exclusive of VAT and any other taxes, for example withholding tax and surcharges. The Licensee The. Licensee’ shall bear the VAT and the Licensor shall bear the withholding tax and surcharges. Each party shall bear its own stamp duty payable in their respective jurisdiction that are applicable in accordance with local legislation to all amounts referred to in this License Agreement. Any amount invoiced by the Licensor to the Licensee shall be without Chinese VAT. The Licensee shall promptly provide the Licensor with all material and evidence of tax withheld. 6.5 Payment made later than the due date under Section 6.3 shall automatically be subject to interest for late payments for each day it is not paid and the interest shall be based on the one-month applicable interbank rate, depending on invoice and currency, with an addition of two per cent (2.0%) per annum. 6.6 Notwithstanding anything to the contrary in this License Agreement, any portion of the License Fee shall be non-refundable.