Common use of Payment and Collection Clause in Contracts

Payment and Collection. costs 1. Payment must be made within 14 calendar days of the invoice date, in a manner to be indicated by AnyWare, in the currency in which the invoice was made, unless otherwise indicated in writing by AnyWare. AnyWare is entitled to invoice periodically. 2. If the Client fails to pay an invoice on time, the Client will be in default by operation of law. The Client shall then owe interest of 1.5% per month, unless the statutory commercial interest is higher, in which case the statutory commercial interest shall be owed. The interest on the amount due and payable will be calculated from the moment the Client is in default until the moment of payment of the amount due in full. In addition, AnyWare has the right to discontinue services during the period of non-payment. 3. AnyWare has the right to use the payments made by the Client first of all to reduce the costs, then to reduce the interest that has become due and finally to reduce the principal sum and the accrued interest. 4. AnyWare may, without being in default as a result, refuse an offer of payment if the Client designates a different sequence for the allocation of the payment. AnyWare may refuse full repayment of the principal sum if the accrued interest and collection costs are not also paid. 5. The Client will never be entitled to set off the amount it owes to AnyWare. 6. Objections to the amount of an invoice do not suspend the payment obligation. The Client who is not entitled to invoke Section 6.5.3 (Sections 231 through 247 of Book 6 of the Dutch Civil Code) is also not entitled to suspend payment of an invoice for any other reason. 7. If the Client is in default of the (timely) fulfilment of their obligations, all reasonable costs incurred to obtain extrajudicial satisfaction shall be borne by the Client. The extrajudicial costs are calculated on the basis of what is customary in Dutch collection practice, currently the calculation method according to the report Rapport Voorwerk II. However, if AnyWare has incurred higher costs for collection that were reasonably necessary, the costs actually incurred will be eligible for reimbursement. Any judicial and enforcement costs incurred will also be recovered from the Client. The Client shall also owe interest on the collection costs owed.

Payment and Collection. costs 1. Payment must be made within 14 calendar days of the invoice date, in a manner to be indicated by AnyWareDual Inventive, in the currency in which the invoice was made, unless otherwise indicated in writing by AnyWareDual Inventive. AnyWare Dual Inventive is entitled to invoice periodically. 2. If the Client fails to pay an invoice on time, the Client will be in default by operation of law. The Client shall then owe interest of 1.5% per month, unless the statutory commercial interest is higher, in which case the statutory commercial interest shall be owed. The interest on the amount due and payable will be calculated from the moment the Client is in default until the moment of payment of the amount due in full. In addition, AnyWare Dual Inventive has the right to discontinue services during the period of non-payment. 3. AnyWare Dual Inventive has the right to use the payments made by the Client first of all to reduce the costs, then to reduce the interest that has become due and finally to reduce the principal sum and the accrued interest. 4. AnyWare Dual Inventive may, without being in default as a result, refuse an offer of payment if the Client designates a different sequence for the allocation of the payment. AnyWare Dual Inventive may refuse full repayment of the principal sum if the accrued interest and collection costs are not also paid. 5. The Client will never be entitled to set off the amount it owes to AnyWareDual Inventive. 6. Objections to the amount of an invoice do not suspend the payment obligation. The Client who is not entitled to invoke Section 6.5.3 (Sections 231 through 247 of Book 6 of the Dutch Civil Code) is also not entitled to suspend payment of an invoice for any other reason. 7. If the Client is in default of the (timely) fulfilment of their obligations, all reasonable costs incurred to obtain extrajudicial satisfaction shall be borne by the Client. The extrajudicial costs are calculated on the basis of what is customary in Dutch collection practice, currently the calculation method according to the report Rapport Voorwerk II. However, if AnyWare Dual Inventive has incurred higher costs for collection that were reasonably necessary, the costs actually incurred will be eligible for reimbursement. Any judicial and enforcement costs incurred will also be recovered from the Client. The Client shall also owe interest on the collection costs owed.