Payments on Delivery Clause Samples
Payments on Delivery. Except as set forth in Section 2.4 with respect to Re-Supply Compounds, the price to be paid by DuPont for Compounds delivered in accordance with this Agreement shall be [ * ] per Compound. Together with each shipment of Compounds hereunder, Array shall submit an invoice to DuPont therefor. Each invoice shall state the total invoiced amount and the number of Compounds included in a particular shipment, plus any insurance, taxes or other costs incident to the shipment or delivery of Compounds hereunder initially paid by Array but to be borne by DuPont. All payments hereunder shall be made in U.S. Dollars, by direct bank transfer to an account designated in Array's invoice, within thirty (30) days after DuPont's receipt of the particular shipment meeting all sample and electronic data formats specified by DuPont pursuant to this Agreement. If DuPont fails to notify Array within one week that a shipment does not meet the applicable specifications, then the shipment shall be deemed accepted. Any payments hereunder that are not paid on the date such payments are due under this Agreement shall bear interest to the extent permitted by applicable law at the prime rate reported by Norwest Bank, Denver, Colorado, on the date such payment is due, calculated on the number of days such payment is delinquent.
Payments on Delivery. 3.3.1 Within [ * ] of receipt of each TA Library from the First Year Diversity Library or Second Year Diversity Library, Chiroscience shall notify Array in writing of its acceptance or rejection of such TA Library, and, if accepted, shall pay Array the balance due for the TA Library within [ * ] of such acceptance, until the payments made by Chiroscience under Sections 3.2 and 3.3 equal [ * ] per Compound delivered; provided, that the advance payments made by Chiroscience under Section 3.2 shall be deemed allocated among the projected total number of First Year TA Libraries or Second Year TA Libraries for the purpose of determining the balance due for any particular TA Library, and further provided that nothing in this paragraph shall change the transfer price of [ * ] per Compound. For purposes of example, Chiroscience would pay Array [ * ] within [ * ] of receipt of a TA Library consisting of [ * ] made under Section 3.2 therefor). Under no circumstances shall Chiroscience be obligated to pay Array for more than [ * ] Compounds or [ * ] Compounds for the TA Libraries provided for each of the First Year Diversity Library or for the Second Year Diversity Library, respectively, (i.e., [ * ] for the First Year Diversity Library and [ * ] for the Second Year Diversity Library, and a total of [ * ] for both Diversity Libraries), unless Chiroscience has expressly, specifically and in writing requested such additional Compounds.
3.3.2 In addition, payment for accepted Re-supply Compounds in accordance with Section 2.5 above shall be within thirty (30) days of delivery thereof.