Payment Terms and Credit Sample Clauses

Payment Terms and Credit. 3.1 Upon shipment and/or completion of the services, Seller shall generate an invoice for the products shipped or services provided. Payment terms are net thirty (30) days from the date of invoice. On any past due invoice, interest shall accrue from the payment due date to the date of payment at a rate which is the lesser of 1½ % per month and the maximum allowed by applicable law, and Buyer shall be charged for Seller’s reasonable attorney fees and collection costs. 3.2 Buyer acknowledges that Seller may, in its sole discretion, change its payment terms and credit at any time, including requiring payment in advance of delivery. Should Buyer become delinquent in payment of any sum due hereunder, Seller shall not be obligated to continue performance under this agreement.

Payment Terms and Credit. All payment terms are subject to Seller’s approval of buyer’s credit, in Seller’s sole discretion; and if such approval is withheld, payment shall be due in advance of Seller’s performance. In the event that balances due Seller are past due, Seller reserves the right to hold any rebates or incentives until past due balances are paid, and may reduce accrued rebates by unearned discounts on the account (discounts taken on invoices paid after the discount due date). If invoices remain unpaid more than 20 days past the due date, Seller may offset (apply) held rebates against all open invoices, oldest invoices first. Seller reserves the right to collect interest charges on amounts past due more than 20 days (to be calculated from the invoice due date at a rate of 1% per 30 days) and may apply such interest charges against any rebates or incentives being held. If balances due Seller are past due for longer than 45 days, Seller has the right to terminate any rebates or incentives and the buyer will be responsible for fees and expenses incurred to collect past due balances.

Payment Terms and Credit. Upon shipment Seller shall generate an invoice for the products shipped. Unless otherwise agreed in writing, payment terms for Seller's system products are 60% of the purchase price due After Receipt of Order (ARO),30% due upon shipment, payable Net 30 days from the date of invoice with remaining 10% due and payable within 30 days after final acceptance completion at Buyer's site not to exceed 45 days from product shipment date unless delay was solely caused by Seller. Buyer acknowledges that Seller's credit department may, in its sole discretion, impose more stringent payment requirements on Buyer's order(s), including requiring payment in advance or payments by letter of credit. If Xxxxx becomes delinquent in payment of any sum due hereunder, Seller shall not be obligated to continue performance under this agreement. Seller reserves the right to charge interest, at the maximum legal rate, on all delinquent accounts.

Payment Terms and Credit