Common use of Payment, security interest Clause in Contracts

Payment, security interest. 7.1 If the terms of payment include any discount for prompt payment, such discount terms shall be strictly enforced by Noramar. If there is no specific contrary agreement upon terms of payment stated herein, payment shall be due and payable within thirty (30) days of the date of the invoice. Buyer shall have no right to offset any amount whatsoever against any payment or other obligation which Buyer may owe to Noramar under the terms hereof. Buyer hereby grants to Noramar a security interest in the Products to secure Xxxxx’s payment of the purchase price and any other charges owed by Xxxxx, and Xxxxx agrees that Xxxxxxx may (but is not obligated to) take such action as Noramar deems advisable to evidence and perfect its security interest and that Buyer will cooperate with Noramar in the taking of such actions including, without limitation, the signing by Buyer of financing statements. 7.2 Upon Xxxxxxx’s request, Xxxxx shall execute and record all necessary documents required under the local laws and/or requested by Xxxxxxx to secure to Noramar first right to possession and title to any Products delivered or to be delivered for which Noramar has not received full payment. In all cases, Buyer shall act to protect such interest of Noramar from the claims of others in such Products. 7.3 If any payment due to Noramar is not made by Buyer on or before the due date, Noramar may, at its option and without prejudice to its other rights or remedies, charge Buyer interest on the overdue amount at the rate of 1.5% per month, calculated daily and compounded monthly, from the due date until the date of actual payment. Buyer shall reimburse Noramar for all costs and expenses incurred in the collection of any overdue amount, including, without limitation, legal fees and expenses. Furthermore, Noramar reserves the right to suspend any further deliveries of Products or services to Buyer until all overdue amounts have been paid in full.

Payment, security interest. 7.1 If Unless otherwise stated herein by Seller, the terms of payment include shall be 30 days. Such (or any discount for prompt payment, such other) discount terms shall be strictly enforced by NoramarSeller. If there is no specific contrary agreement upon terms at any time in Seller’s reasonable discretion, Xxxxx’s credit should become unsatisfactory to Seller, cash payments on delivery or other satisfactory security, including security for outstanding balances, may be required of payment stated herein, payment Buyer by Seller as a condition to further deliveries. All installment deliveries shall be separately invoiced and paid for when due. Any payment not made to Seller when due shall be subject to a carrying charge of one and payable within thirty one half percent (301 1/2%) days of per month on the date of unpaid balance until paid and Seller may defer further deliveries to Buyer under this order or any other order between Buyer and Seller, or may cancel the invoiceundelivered balance or balances under this or any such other order. Buyer shall have no right to offset any amount whatsoever against any payment or other obligation which Buyer may owe to Noramar Seller under the terms hereofthis order. Buyer hereby grants to Noramar Seller reserves a security interest in the Products Goods to secure Xxxxx’s payment of the purchase price and any other charges owed by Xxxxx, and Xxxxx agrees that Xxxxxxx Seller may (but is not obligated to) take such action as Noramar Seller deems advisable to evidence and perfect its security such interest and that Buyer will cooperate with Noramar Seller in the taking of such actions includingactions, without limitation, the signing by and Buyer of hereby authorizes Seller to file financing statements. All payments shall be made payable to the order of (Plaskolite, LLC, P.0. Box 636087, Cincinnati, OH 45263-6087). 7.2 Upon Xxxxxxx’s request, Xxxxx shall execute and record all necessary documents required under the local laws and/or requested by Xxxxxxx to secure to Noramar first right to possession and title to any Products delivered or to be delivered for which Noramar has not received full payment. In all cases, Buyer shall act to protect such interest of Noramar from the claims of others in such Products. 7.3 If any payment due to Noramar is not made by Buyer on or before the due date, Noramar may, at its option and without prejudice to its other rights or remedies, charge Buyer interest on the overdue amount at the rate of 1.5% per month, calculated daily and compounded monthly, from the due date until the date of actual payment. Buyer shall reimburse Noramar for all costs and expenses incurred in the collection of any overdue amount, including, without limitation, legal fees and expenses. Furthermore, Noramar reserves the right to suspend any further deliveries of Products or services to Buyer until all overdue amounts have been paid in full.

Payment, security interest. 7.1 If Unless otherwise stated herein by Seller, the terms of payment include shall be 30 days. Such (or any discount for prompt payment, such other) discount terms shall be strictly enforced by NoramarSeller. If there is no specific contrary agreement upon terms at any time in Seller’s reasonable discretion, Xxxxx’s credit should become unsatisfactory to Seller, cash payments on delivery or other satisfactory security, including security for outstanding balances, may be required of payment stated herein, payment Buyer by Seller as a condition to further deliveries. All installment deliveries shall be separately invoiced and paid for when due. Any payment not made to Seller when due shall be subject to a carrying charge of one and payable within thirty one half percent (301 1/2%) days of per month on the date of unpaid balance until paid and Seller may defer further deliveries to Buyer under this order or any other order between Buyer and Seller, or may cancel the invoiceundelivered balance or balances under this or any such other order. Buyer shall have no right to offset any amount whatsoever against any payment or other obligation which Buyer may owe to Noramar Seller under the terms hereofthis order. Buyer hereby grants to Noramar Seller reserves a security interest in the Products Goods to secure Xxxxx’s payment of the purchase price and any other charges owed by Xxxxx, and Xxxxx agrees that Xxxxxxx Seller may (but is not obligated to) take such action as Noramar Seller deems advisable to evidence and perfect its security such interest and that Buyer will cooperate with Noramar Seller in the taking of such actions includingactions, without limitation, the signing by and Buyer of hereby authorizes Seller to file financing statements. All payments shall be made payable to the order of (Plaskolite, LLC, X.0. Xxx 000000, Xxxxxxxxxx, XX 00000-0000). 7.2 Upon Xxxxxxx’s request, Xxxxx shall execute and record all necessary documents required under the local laws and/or requested by Xxxxxxx to secure to Noramar first right to possession and title to any Products delivered or to be delivered for which Noramar has not received full payment. In all cases, Buyer shall act to protect such interest of Noramar from the claims of others in such Products. 7.3 If any payment due to Noramar is not made by Buyer on or before the due date, Noramar may, at its option and without prejudice to its other rights or remedies, charge Buyer interest on the overdue amount at the rate of 1.5% per month, calculated daily and compounded monthly, from the due date until the date of actual payment. Buyer shall reimburse Noramar for all costs and expenses incurred in the collection of any overdue amount, including, without limitation, legal fees and expenses. Furthermore, Noramar reserves the right to suspend any further deliveries of Products or services to Buyer until all overdue amounts have been paid in full.

Payment, security interest. 7.1 If Unless otherwise stated herein by Seller, the terms of payment include shall be net 30 days. Such (or any discount for prompt payment, such other) discount terms shall be strictly enforced by NoramarSeller. If there is no specific contrary agreement upon terms at any time in Seller's reasonable discretion, Xxxxx's credit should become unsatisfactory to Seller, cash payments on delivery or other satisfactory security, including security for outstanding balances, may be required of payment stated herein, payment Buyer by Seller as a condition to further deliveries. All installment deliveries shall be separately invoiced and paid for when due. Any payment not made to Seller when due shall be subject to a carrying charge of one and payable within thirty one half percent (301 1/2%) days of per month on the date of unpaid balance until paid and Seller may defer further deliveries to Buyer under this order or any other order between Buyer and Seller, or may cancel the invoiceundelivered balance or balances under this or any such other order. Buyer shall have no right to offset any amount whatsoever against any payment or other obligation which Buyer may owe to Noramar Seller under the terms hereofthis order. Buyer hereby grants to Noramar Seller reserves a security interest in the Products Goods to secure Xxxxx’s 's payment of the purchase price and any other charges owed by Xxxxx, and Xxxxx agrees that Xxxxxxx Seller may (but is not obligated to) take such action as Noramar Seller deems advisable to evidence and perfect its security such interest and that Buyer will cooperate with Noramar Seller in the taking of such actions includingactions, without limitation, the signing by Buyer of and Xxxxx hereby authorizes Seller to file financing statements. All payments shall be made payable to the order of (Plaskolite, LLC, P.O. Box 636087, Cincinnati, OH 45263-6087). 7.2 Upon Xxxxxxx’s request, Xxxxx shall execute and record all necessary documents required under the local laws and/or requested by Xxxxxxx to secure to Noramar first right to possession and title to any Products delivered or to be delivered for which Noramar has not received full payment. In all cases, Buyer shall act to protect such interest of Noramar from the claims of others in such Products. 7.3 If any payment due to Noramar is not made by Buyer on or before the due date, Noramar may, at its option and without prejudice to its other rights or remedies, charge Buyer interest on the overdue amount at the rate of 1.5% per month, calculated daily and compounded monthly, from the due date until the date of actual payment. Buyer shall reimburse Noramar for all costs and expenses incurred in the collection of any overdue amount, including, without limitation, legal fees and expenses. Furthermore, Noramar reserves the right to suspend any further deliveries of Products or services to Buyer until all overdue amounts have been paid in full.