Payment Method; Late Payments Sample Clauses
The 'Payment Method; Late Payments' clause defines how payments must be made under the agreement and addresses the consequences of failing to pay on time. It typically specifies acceptable forms of payment, such as bank transfer or check, and may outline the timing and process for submitting payments. If a payment is late, the clause often imposes penalties like interest charges or late fees. This clause ensures both parties are clear on payment expectations and provides a mechanism to discourage and address late payments, thereby reducing the risk of disputes and financial uncertainty.
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Payment Method; Late Payments. All payments due to either Party hereunder shall be made in Dollars by wire transfer of immediately available funds into an account in the USA designated by such Party. If a Party does not receive payment of any sum due to it on or before the due date, simple interest shall thereafter accrue on the sum due until the date of payment at the per annum rate of [***] over the then-current prime rate reported in The Wall Street Journal (United States internet edition) or the maximum rate allowable by applicable Laws, whichever is lower.
Payment Method; Late Payments. All payments due to MUS under this Agreement shall be paid in U.S. dollars by bank wire transfer in immediately available funds to a bank account designated by MUS. Any payment or portion thereof that is not paid on the date such payments are due under this Agreement shall bear interest at the lesser of (i) the prime rate as reported by the Chase Manhattan Bank, New York, New York (or its successor) on the date such payment is due, plus an additional two percent (2%), or (ii) the maximum rate permitted by law, in each case calculated on the number of days such payment is delinquent. This Section 5.6 shall in no way limit any other remedies available for late payment.
Payment Method; Late Payments. All amounts due KOSAN hereunder shall be paid in U.S. dollars by wire transfer in immediately available funds to a bank account designated by KOSAN. Any payments or portions thereof due hereunder which are not paid on the date such payments are due under this AGREEMENT shall bear interest at a rate equal to the lesser of [**], or the maximum rate permitted by law, calculated on the number of days such payment is delinquent, compounded monthly. This Section 7.7 shall in no way limit any other remedies available to KOSAN.
Payment Method; Late Payments. All amounts due GenVec hereunder shall be paid in U.S. dollars by wire transfer in immediately available funds to an account designated by GenVec. Any payments or portions thereof due hereunder which are not paid on the date such payments are due under this Agreement shall bear interest at a rate equal to the lesser of prime rate as reported by the Chase Manhattan Bank, New York, plus * percent (*%) per year, or the maximum rate permitted by law, calculated on the number of days such payment is delinquent, compounded monthly.
Payment Method; Late Payments. All amounts due GenVec hereunder shall be paid in U.S. dollars by wire transfer in immediately available funds to a bank account designated by GenVec. Any payments or portions thereof due hereunder which are not paid on the date such payments are due under this Agreement shall bear interest at a rate equal to the lesser of prime rate as reported by the Citibank (or its successor in interest), New York, New York, * or the maximum rate permitted by law, calculated on the number of days such payment is delinquent, compounded monthly. This Section 7.2 shall in no way limit any other remedies available to GenVec.
Payment Method; Late Payments. Each Party will make all payments due hereunder in Dollars by wire transfer of immediately available funds into an account designated by the Party that is owed such payment (such Party, the “Payee”). If the Payee does not receive payment of any sum due to it on or before the due date, simple interest will thereafter accrue on the sum due to the Payee until the date of payment at the per annum rate of the then-current prime rate as reported in The Wall Street Journal or the maximum rate allowable by Laws, whichever is lower. Notwithstanding the foregoing, a Party making a payment pursuant to this Agreement shall not be deemed to have made a late payment, and no interest shall be due pursuant to this Section 8.7, if the payment is not made by the due date as a result of the Payee’s efforts to reduce or eliminate a tax applicable to such payment pursuant to Section 8.10(c), provided the paying Party makes the required payment (net of applicable withholding taxes) as soon as practicable after the tax issue is resolved.
Payment Method; Late Payments. All payments due hereunder shall be made in Dollars by wire transfer of immediately available funds into an account designated by the Party that is owed such payment (such Party, the “Payee”). If the Payee does not receive payment of any sum due to it on or before the due date, simple interest shall thereafter accrue on the sum due to the Payee until the date of payment at the per annum rate of [ * ] over the then-current prime rate as reported in The Wall Street Journal or the maximum rate allowable by applicable Laws, whichever is lower.
Payment Method; Late Payments. All payments due under this Agreement ----------------------------- shall be made by bank wire transfer in immediately available funds to a bank account designated by the party to which such royalties are due. In the event that the due date of any payment subject to Section 4 hereof is a Saturday, Sunday or national holiday, such payment may be paid on the following business day. Any late payments shall bear interest to the extent permitted by applicable law at the prime rate (as reported by the Bank of America, San Francisco, California (or its successor), on the date such payment is due) plus an additional two percent (2%) (on an annualized basis), calculated on the number of days such payment is delinquent. The rights provided in this Section 4.9 shall in no way limit any other remedies available to the party to which such royalties are due.
Payment Method; Late Payments. All payments due to Visterra hereunder shall be made in Dollars by wire transfer of immediately available funds into an account designated by Visterra. If Visterra does not receive payment of any sum due to it on or before the due date, simple interest shall thereafter accrue on the sum due to Visterra until the date of payment at the per annum rate of [**] percent ([**]%) over the then-current prime rate reported by the Federal Reserve Bank of Boston on the last Business Day of the relevant reporting period or the maximum rate allowable by applicable Law, whichever is lower.
Payment Method; Late Payments. All payments due under this Agreement shall be made by bank wire transfer in immediately available funds to a bank account designated by the applicable Party. All payments shall be made in the currency provided in the applicable invoice and shall be non-creditable and non-refundable, except as provided in Section 5.2(b). Any payments that are not paid on the date such payments are due under this Agreement shall bear interest at the lesser of (i) the prime rate (as reported by the Bank of America, San Francisco, California) for payments in Dollars, or CDI multiplied by 1.2 for payments in Reais, in each case on the date such payment is due, plus an additional two percent (2%) or (ii) the maximum rate permitted by law in the jurisdiction such payments are due, in each case calculated on the number of days such payment is delinquent. Nothing in this Section shall prejudice any other rights or remedies available to any Party hereunder or at law or equity.