Common use of Payment Term Clause in Contracts

Payment Term. 1. The Contracting Parties agree that the Issuer shall issue an invoice for the performance under this contract by the tenth day of the calendar month following the month during which the performance was realised. The taxable performance date shall always be the last day of the calendar month during which the taxable performance is realised. A list of UIs issued from the Issuer’s System, specified number of UIs in the respective month, (split to UIs by ordering Affiliates), shall be confirmed by the Ordering Party in the form of the Ordering Party’s representative’s electronic signature or in writing, a copy of this list shall be enclosed to the invoice. 2. The maturity period of every duly issued invoice shall be 45 (fortyfive) days following the date it was issued. An invoice shall be considered settled in a timely manner if the invoiced amount is credited in the Issuer’s bank account in full on the last day of the maturity period at the latest. 3. Invoices must include the Contract registration number, Order number (“PO”) and all other information required by legal regulations, in particular, by provisions specified in the Act no. 235/2004 Coll., on value added tax, as amended. 4. The Ordering Party is entitled to return an invoice before the due date if it contains: - Incorrect or incomplete price data; - Incorrect or incomplete particulars. In such an event, the Ordering Party is obliged to return the invoice with an accompanying letter stating the reason for return. A new maturity period shall start on the day following the delivery of a new or corrected invoice to the Ordering Party.

Payment Term. 1. The Contracting Parties agree that the Issuer shall issue an invoice for the performance under this contract by the tenth day of the calendar month following the month during which the performance was realised. The taxable performance date shall always be the last day of the calendar month during which the taxable performance is realised. A list of UIs issued from the Issuer’s System, specified number of UIs in the respective month, (split to UIs by ordering Affiliates), shall be confirmed by the Ordering Party in the form of the Ordering Party’s representative’s electronic signature or in writing, a copy of this list shall be enclosed to the invoice. 2. The maturity period of every duly issued invoice shall be 45 (fortyfive) days following the date it was issued. An invoice shall be considered settled in a timely manner if the invoiced amount is credited in the Issuer’s bank account in full on the last day of the maturity period at the latest. 3. Invoices must include the Contract registration number, Order number (“PO”) and all other information required by legal regulations, in particular, by provisions specified in the Act no. 235/2004 CollSb., on value added tax, as amended. 4. The Ordering Party is entitled to return an invoice before the due date if it contains: - Incorrect or incomplete price data; - Incorrect or incomplete particulars. In such an event, the Ordering Party is obliged to return the invoice with an accompanying letter stating the reason for return. A new maturity period shall start on the day following the delivery of a new or corrected invoice to the Ordering Party.