Common use of Payment and Taxes Clause in Contracts

Payment and Taxes. 3.1 Client agrees to make the Payments set out in the Total Payment Profile in the Transaction Document, and such other Payments as may thereafter become due. Time shall be of the essence in relation to Payments. Due date for Payments shall be calculated in accordance with the Total Payment Profile. Any Payment date falling on a non-Business Day shall become due on the next Business Day. 3.2 For any Payment not made on the due date, Client agrees to pay late payment interest on demand calculated at 8% per annum above the Bank of England base rate applied to the unpaid amount on a daily basis, from the due date of Payment until the actual date of Payment in full, subject to maximum limitations by law. 3.3 Client agrees that, upon the Start Date, Client’s obligations under this Agreement and any Transaction Document become irrevocable and independent of acceptance of the Product, and Client’s obligation to make all Payments in full when due, becomes absolute and unconditional, without set off, counterclaim, withholding, deduction, abatement, recoupment or defence of any kind, and irrespective of errors or deficiencies in or the performance or the quality of the Product, or the performance by the Supplier or any other third party. 3.4 Payments received will be set against late Payment charges, overdue Payments and other Payments in that order. 3.5 After the Start Date, Payments will not change other than through changes in the applicable VAT rate. If there is a change in the VAT rate, Client hereby agrees that IGF may adjust the relevant Payments accordingly. 3.6 If the Amount Financed changes before the Start Date, IGF shall either: i) adjust the relevant Payments accordingly, or ii) require a new Transaction Document, or iii) decline the transaction. 3.7 Client will not be entitled to any rebate of Rent for any period during which the Products are not in the possession of Client, or are un-serviceable, out of order or unusable. 3.8 Client is responsible for any taxes and charges arising in respect of Leases, Loans or Other Financing, except for IGF corporation tax.

Payment and Taxes. 3.1 Client agrees to make the Payments set out in the Total Payment Profile in the Transaction Document, and such other Payments as may thereafter become due. Time shall be of the essence in relation to Payments. Due date for Payments shall be calculated in accordance with the Total Payment Profile. Any Payment date falling on a non-Business Day shall become due on the next Business Day. 3.2 For any Payment not made on the due date, Client agrees to pay late payment interest on demand calculated at 8% per annum above the Bank of England base rate applied to the unpaid amount on a daily basis, from the due date of Payment until the actual date of Payment in full, subject to maximum limitations by law. 3.3 Client agrees that, upon the Start Date, Client’s obligations under this Agreement and any Transaction Document become irrevocable and independent of acceptance of the Product, and Client’s obligation to make all Payments in full when due, becomes absolute and unconditionalin full, without set off, counterclaim, withholding, deduction, abatement, recoupment or defence deduction of any kind, and irrespective of errors or deficiencies in or the performance or the quality loss of the ProductProducts, or the performance by the Supplier IGF or any other third partyIBM company under any other agreement with Client. 3.4 Payments received will be set against late Payment charges, overdue Payments and other Payments in that order. 3.5 After the Start Date, Payments will not change other than through changes in the applicable VAT rate. If there is a change in the VAT rate, Client hereby agrees that IGF may adjust the relevant Payments accordingly. 3.6 If the Amount Financed changes before the Start Date, IGF shall either: i) adjust the relevant Payments accordingly, or ii) require a new Transaction Document, or iii) decline the transaction. 3.7 Client will not be entitled to any rebate of Rent for any period during which the Products are not in the possession of Client, or are un-serviceable, out of order or unusable. 3.8 Client is responsible for any taxes and charges arising in respect of Leases, Loans or Other Financing, except for IGF corporation tax.

Payment and Taxes. 3.1 Client agrees Rent shall be due and payable on the Payment Date of each consecutive Payment Period for the applicable number of Payment Periods. The initial Payment Period for a Lease shall begin on the first day of the month following the Commencement Date. Xxxxxx will remit each Payment payable hereunder to make the Payments set out address specified in the Total invoice sent by Lessor to Lessee or elsewhere as otherwise instructed by Lessor in writing. If any Payment Profile in the Transaction Document, and such other Payments as may thereafter become due. Time shall be of the essence in relation to Payments. Due date for Payments shall be calculated in accordance with the Total Payment Profile. Any Payment date falling is due on a non-Business Day Day, then such Payment shall become due and payable on the next Business Day. 3.2 For Payment will be settled by direct debit unless otherwise specified in a Schedule. To this effect, the Lessee agrees to return to Lessor, before the Commencement Date, direct debit documentation as required by Xxxxxx. 3.3 In compliance with the provisions of the article 441-6 of the French Commercial Code, for any Payment not made on the paid in full by its due date, Client Xxxxxx also agrees to pay Lessor, in addition to the sums due and on Lessor request, a late payment interest on demand fee calculated at 8% per annum above by applying the European Central Bank of England base rate applied to the unpaid amount on a daily basisfor its most recent refinancing operation plus ten (10) points, from the due date until payment is effectively and entirely made (the “Late Payment Fee”). In case of Payment until the actual date late payment, Lessee shall pay Lessor a fixed indemnity of Payment in fullforty (40) euros, to cover Lessor's debt collection costs. Should these costs exceed forty (40) euros, Lessor shall be entitled to complementary indemnification, subject to maximum limitations by law. 3.3 Client justification of the amount claimed. This provision is without prejudice to the other measures Lessor will be entitled to take in compliance with the provisions of article 19 hereinafter. Lessee agrees that, upon the Start Commencement Date, ClientXxxxxx’s obligations under this the Agreement and any Transaction Document become irrevocable and independent of acceptance of the Product, and ClientXxxxxx’s obligation to make all Payments in full when due, becomes absolute and unconditional, without set off, counterclaim, withholding, deduction, abatement, recoupment recoupment, or defence defense of any kind, and irrespective of errors or deficiencies in or the performance or the quality of the Product, or the performance by the Supplier or any other third party. Furthermore, it is expressly agreed, by exception to article 1724 of the French Civil Code, that Xxxxxx will not have the right to claim any reduction of the Rent even if a Product is out of service for more than forty (40) days. If following a court decision a Schedule is terminated as a result of the termination or cancellation of the Supply Agreement, the Lessee will remain liable for the prompt payment of the applicable Rent until the effective date of such termination, and will thereafter pay an indemnity which will be the aggregate of the Rent remaining to be invoiced until the end of the Initial Term, minus any sums received by Lessor from the Supplier as reimbursement of the price of the Products. Lessee shall not, in any case, postpone the payment of the termination indemnity until the price is reimbursed by Supplier, the Lessor committing to remit to the Lessee such reimbursement as soon as it will obtain it. 3.4 At Lessor’s discretion, following the occurrence of a Default, Payments received will by Lessor may be set against late applied in the following order: first to Late Payment chargesFees, second to overdue Payments Rent, and third to other Payments in that orderPayments. 3.5 After For any Rent not paid on its due date, the Start DateLessor, Payments as a penalty clause, shall be entitled to charge a fee equal to 0.75% of the amount of the outstanding Payment for each month or any part thereof that such Payment remains unpaid (“Unpaid Amount”) from the due date until the actual date such Unpaid Amount is paid in full, subject to maximum limitations of applicable law (the “Late Payment Fee”). In case of late payment, Lessee shall pay Lessor a fixed indemnity of forty (40) euros, to cover Lessor 's debt collection costs. This provision is without prejudice to the other measures Lender will not change other than through changes be entitled to take in compliance with the applicable VAT rate. If there is a change in the VAT rate, Client hereby agrees that IGF may adjust the relevant Payments accordinglyprovisions of Section 18 hereinafter. 3.6 If All prices, fees, charges and/or other possible amounts are stated excluding VAT (Value Added Tax). Where VAT is due this shall be added to the Amount Financed changes before the Start Datepayable prices, IGF shall either: i) adjust the relevant Payments accordinglyfees, or ii) require a new Transaction Document, or iii) decline the transaction. 3.7 Client will not be entitled to any rebate of Rent for any period during which the Products are not in the possession of Client, or are un-serviceable, out of order or unusable. 3.8 Client is responsible for any taxes and charges arising in respect of Leases, Loans or Other Financing, except for IGF corporation tax.and/or other possible amounts