Common use of Payment of Amounts Due Clause in Contracts

Payment of Amounts Due. (a) The monthly lease charge is due and payable on the same day of each successive month thereafter of the lease period for each piece of lease equipment, except that the first payment of the monthly lease charge for each piece of Equipment is due and payable upon acceptance of the Equipment by MERCHANT. MERCHANT agrees to pay all assessed costs for delivery and installation of Equipment. (b) In addition to the monthly lease charge, MERCHANT shall pay, or reimburse BANK for, amounts equal to any taxes or assessments on or arising out of this Agreement or the Equipment, and related supplies or any services, use or activities hereunder, including without limitation, state and local sales, use, property, privilege and excise tax, exclusive, however, of taxes based on BANK’S net income. Reimbursement of property tax calculation is based on an average tax rate. (c) MERCHANT’S lease payments will be due despite dissatisfaction with the Equipment for any reason. (d) Whenever any payment is not made by MERCHANT in full when due, MERCHANT shall pay BANK as a late charge, an amount equal to ten percent of the amount due but no less than $5.00 for each month during which it remains unpaid (prorated for any partial month), but in no event more than the maximum amount permitted by law. MERCHANT shall also pay to BANK an administrative charge of $10.00 for any debit we attempt to make against MERCHANT’S bank account that is rejected. (e) In the event MERCHANT’S account is placed into collections for past due lease amounts, MERCHANT agrees that BANK can recover a collection expense charge of $50 for each aggregate payment requiring a collection effort.

Payment of Amounts Due. (a) The monthly lease charge is due and payable on the same day of each successive month thereafter of the lease period for each piece of lease equipment, except that the first payment of the monthly lease charge for each piece of Equipment is due and payable upon acceptance of the Equipment by MERCHANT. MERCHANT agrees to pay all assessed costs for delivery and installation of Equipment. (b) In addition to the monthly lease charge, MERCHANT shall pay, or reimburse BANK SERVICE PROVIDERS for, amounts equal to any taxes or assessments on or arising out of this Agreement or the Equipment, and related supplies or any services, use or activities hereunder, including without limitation, state and local sales, use, property, privilege and excise tax, exclusive, however, of taxes based on BANK’S SERVICE PROVIDERS’ net income. Reimbursement of property tax calculation is based on an average tax rate. (c) MERCHANT’S lease payments will be due despite dissatisfaction with the Equipment for any reason. (d) Whenever any payment is not made by MERCHANT in full when due, MERCHANT shall pay BANK SERVICE PROVIDERS as a late charge, an amount equal to ten percent of the amount due but no less than $5.00 for each month during which it remains unpaid (prorated for any partial month), but in no event more than the maximum amount permitted by law. MERCHANT shall also pay to BANK SERVICE PROVIDERS an administrative charge of $10.00 for any debit we attempt to make against MERCHANT’S bank Service Providers account that is rejected. (e) In the event MERCHANT’S account is placed into collections for past due lease amounts, MERCHANT agrees that BANK SERVICE PROVIDERS can recover a collection expense charge of $50 for each aggregate payment requiring a collection effort.

Payment of Amounts Due. (a) The monthly lease charge is due and payable on the same day of each successive month thereafter of the lease period for each piece of lease equipment, except that the first payment of the monthly lease charge for each piece of Equipment is due and payable upon acceptance of the Equipment by MERCHANT. MERCHANT agrees to pay all assessed costs for delivery and installation of Equipment. (b) In addition to the monthly lease charge, MERCHANT shall pay, or reimburse BANK for, amounts equal to any taxes or assessments on or arising out of this Agreement or the Equipment, and related supplies or any services, use or activities hereunder, including without limitation, state and local sales, use, property, privilege and excise tax, exclusive, however, of taxes based on BANK’S BANK‟S net income. Reimbursement of property tax calculation is based on an average tax rate. (c) MERCHANT’S MERCHANT‟S lease payments will be due despite dissatisfaction with the Equipment for any reason. (d) Whenever any payment is not made by MERCHANT in full when due, MERCHANT shall pay BANK as a late charge, an amount equal to ten percent of the amount due but no less than $5.00 for each month during which it remains unpaid (prorated for any partial month), but in no event more than the maximum amount permitted by law. MERCHANT shall also pay to BANK an administrative charge of $10.00 for any debit we attempt to make against MERCHANT’S MERCHANT‟S bank account that is rejected. (e) In the event MERCHANT’S MERCHANT‟S account is placed into collections for past due lease amounts, MERCHANT agrees that BANK can recover a collection expense charge of $50 for each aggregate payment requiring a collection effort.