Common use of Payment of Payment Amount Clause in Contracts

Payment of Payment Amount. Rentech shall submit monthly invoices to GP for the Services, which invoices shall be due and payable within 30 days. GP shall pay, or cause MLP or Operating Company to pay, to Rentech in immediately available funds, the full Payment Amount due under Section 3.1. Past due amounts shall bear interest at the Default Rate. Allocation percentages referred to in this Article III will be calculated and determined for calendar year or calendar quarter periods, as Rentech may determine, based upon Rentech’s annual audited financial statements or quarterly unaudited financial statements for the immediately preceding calendar year or calendar quarter, as applicable.