Common use of Payment and Billing Clause in Contracts

Payment and Billing. 9.6.1 Within fourteen (14) Days after the last Day of each Month, JPS shall prepare and deliver to the Company a statement reflecting all amounts payable to each Party by the other Party in Dollars pursuant to this Agreement (each, a “Statement”). The Statement shall include calculations, in reasonable detail, of such amounts owed to the Company for Fixed Payments and Variable Payments (if any) and amounts owed to JPS, including for liquidated damages, in accordance with this Agreement and the procedures determined by the Operating Committee. The Statement shall be accompanied by any payment owed to the Company. 9.6.2 If JPS fails to pay any amount of a payment owed to the Company (a) on or before the Day such payment is due under Clause 9.6.1 or (b) if the Company prepares the Statement in accordance with Clause 9.7.4, on or before the Day such payment is due under Clause 9.7.4, JPS shall pay accrued interest on such amount at the Base Rate commencing on (i) the [Amount] ([Figures]) Day after the last Day of the Month for which payment is due under Clause 9.6.1 in the case of sub-clause (a) or (ii) the [Amount] ([Figures]) Day after JPS receives the Statement in the case of sub-clause (b) and continuing, in either case, for a period of [Amount ([Figures])] Days, and thereafter JPS shall pay interest on such amount at the Default Rate until the date such amount is paid in full. 9.6.3 Amounts shown on any Statement as owed to JPS by the Company shall be due for payment [Amount] ([Figures]) Days after delivery of the Statement. If the Company fails to pay any amount of a payment owed to JPS on the Day such payment is due, the Company shall pay accrued interest on such amount at the Base Rate commencing on the [Amount] ([Figures]th) Day after delivery of the Statement and continuing for a period of [Amount] ([Figures]) Days, and thereafter the Company shall pay interest on such amount at the Default Rate until the date such amount is paid in full. This Clause 9.6.3 shall not apply to payments due pursuant to clause 9.5.2. 9.6.4 At any time prior to one hundred and eighty (180) Days after the end of any Year in which a Statement is delivered (or within such other period as permitted or required by applicable law), either Party may dispute the amount of such Statement by serving a notice on the other Party indicating the Statement concerned, the amount of the Dispute and the basis therefor (a “Dispute Notice”). The Dispute shall be settled by mutual discussion and, if necessary, pursuant to the provisions of Section 15. Within fourteen (14) Days after the resolution of the Dispute, the Party which is determined to owe money to the other Party shall pay such sum to the other Party together with accrued interest thereon (i) at the Base Rate from the date such payment should have been made and continuing for a period of fourteen (14) Days, and (ii) thereafter at the Default Rate until the date such amount is paid in full. 9.6.5 If a payment under this Agreement is due on a day which is not a Business Day, the due date for such payment shall instead be the next Business Day.

Payment and Billing. 9.6.1 Within fourteen (14) Days after the last Day of each Month, JPS shall prepare and deliver to the Company a statement reflecting all amounts payable to each Party by the other Party in Dollars pursuant to this Agreement (each, a “Statement”). The Statement shall include calculations, in reasonable detail, of such amounts owed to the Company for Fixed Payments and Variable Payments (if any) and amounts owed to JPS, including for liquidated damages, in accordance with this Agreement and the procedures determined by the Operating Committee. The Statement shall be accompanied by any payment owed to the Company. 9.6.2 If JPS fails to pay any amount of a payment owed to the Company (a) on or before the Day such payment is due under Clause 9.6.1 or (b) if the Company prepares the Statement in accordance with Clause 9.7.4, on or before the Day such payment is due under Clause 9.7.4, JPS shall pay accrued interest on such amount at the Base Rate commencing on (iy) the [Amount] fifteenth ([Figures]15th) Day after the last Day of the Month for which payment is due under Clause 9.6.1 in the case of sub-clause subclause (a) or (iiz) the [Amount] sixth ([Figures]6th) Day after JPS receives the Statement in the case of sub-clause subclause (b) and continuing, in either case, for a period of [Amount fourteen ([Figures])] 14) Days, and thereafter JPS shall pay interest on such amount at the Default Rate until the date such amount is paid in full. 9.6.3 Amounts shown on any Statement as owed to JPS by the Company shall be due for payment [Amount] fourteen ([Figures]14) Days after delivery of the Statement. If the Company fails to pay any amount of a payment owed to JPS on the Day such payment is due, the Company shall pay accrued interest on such amount at the Base Rate commencing on the [Amount] fifteenth ([Figures]th15th) Day after delivery of the Statement and continuing for a period of [Amount] six ([Figures]6) Days, and thereafter the Company shall pay interest on such amount at the Default Rate until the date such amount is paid in full. This Clause 9.6.3 shall not apply to payments due pursuant to clause 9.5.2. 9.6.4 At any time prior to one hundred and eighty (180) Days after the end of any Year in which a Statement is delivered (or within such other period as permitted or required by applicable law), either Party may dispute the amount of such Statement by serving a notice on the other Party indicating the Statement concerned, the amount of the Dispute and the basis therefor (a “Dispute Notice”). The Dispute shall be settled by mutual discussion and, if necessary, by arbitration pursuant to the provisions of Section 15Clauses 16. Within fourteen (14) Days after the resolution of the Dispute, the Party which is determined to owe money to the other Party shall pay such sum to the other Party together with accrued interest thereon (i) at the Base Rate from the date such payment should have been made and continuing for a period of fourteen (14) Days, and (ii) thereafter at the Default Rate until the date such amount is paid in full. 9.6.5 If a payment under this Agreement is due on a day which is not a Business Day, the due date for such payment shall instead be the next Business Day.

Payment and Billing. 9.6.1 9.7.1 Within fourteen (14) Days after the last Day of each Month, JPS shall prepare and deliver to the Company a statement reflecting all amounts payable to each Party by the other Party in Dollars pursuant to this Agreement (each, a “Statement”). The Statement shall include calculations, in reasonable detail, of such amounts owed to the Company for Fixed Payments and Variable Payments (if any) and amounts owed to JPS, including for liquidated damages, in accordance with this Agreement and the procedures determined by the Operating Committee. The Statement shall be accompanied by any payment owed to the Company. 9.6.2 9.7.2 If JPS fails to pay any amount of a payment owed to the Company (a) on or before the Day such payment is due under Clause 9.6.1 9.7.1 or (b) if the Company prepares the Statement in accordance with Clause 9.7.4, on or before the Day such payment is due under Clause 9.7.4, JPS shall pay accrued interest on such amount at the Base Rate commencing on on (i) the [Amount] ([Figures]) Day after the last Day of the Month for which payment is due under Clause 9.6.1 in the case of sub-clause (a) or (ii) the [Amount] ([Figures]) Day after JPS receives the Statement in the case of sub-clause (b) and continuing, in either case, for a period of [Amount ([Figures])] Days, and thereafter JPS shall pay interest on such amount at the Default Rate until the date such amount is paid in full. 9.6.3 9.7.3 Amounts shown on any Statement as owed to JPS by the Company shall be due for payment [Amount] ([Figures]) Days after delivery of the Statement. If the Company fails to pay any amount of a payment owed to JPS on the Day such payment is due, the Company shall pay accrued interest on such amount at the Base Rate commencing on the [Amount] ([Figures]thFigures]) Day after delivery of the Statement and continuing for a period of [Amount] ([Figures]) Days, and thereafter the Company shall pay interest on such amount at the Default Rate until the date such amount is paid in full. This Clause 9.6.3 9.7.3 shall not apply to payments due pursuant to clause 9.5.29.6.2. 9.6.4 9.7.4 At any time prior to one hundred and eighty (180) Days after the end of any Year in which a Statement is delivered (or within such other period as permitted or required by applicable law), either Party may dispute the amount of such Statement by serving a notice on the other Party indicating the Statement concerned, the amount of the Dispute and the basis therefor (a “Dispute Notice”). The Dispute shall be settled by mutual discussion and, if necessary, pursuant to the provisions of Section 15. Within fourteen (14) Days after the resolution of the Dispute, the Party which is determined to owe money to the other Party shall pay such sum to the other Party together with accrued interest thereon (i) at the Base Rate from the date such payment should have been made and continuing for a period of fourteen (14) Days, and (ii) thereafter at the Default Rate until the date such amount is paid in full. 9.6.5 If a payment under this Agreement is due on a day which is not a Business Day, the due date for such payment shall instead be the next Business Day.and