Common use of PAYMENTS, TAXES, AND DUTIES Clause in Contracts

PAYMENTS, TAXES, AND DUTIES. (a) Payment to SELLER shall be made upon the basis of invoices submitted in such form and detail as Lockheed Xxxxxx may require. LOCKHEED XXXXXX shall make payment within thirty (30) days after receipt and approval of such invoices. (b) Payment for labor shall be computed by multiplying the appropriate hourly rate(s), set forth in this Contract by the number of direct labor hours performed. Rates shall include wages, overhead, general and administrative expense, and profit. Fractional parts of an hour shall be payable on a prorated basis. (c) No overtime will be paid by LOCKHEED XXXXXX unless approved in advance by the LOCKHEED XXXXXX Procurement Representative. If no overtime rates are provided in this Contract, overtime rates will be negotiated. (d) Reimbursable costs in connection with lower-tier subcontracts shall be limited to the amounts actually paid by SELLER to lower-tier subcontractors. (e) SELLER shall procure required materials at the most advantageous prices available. Cash and trade discounts, rebates, allowances, credits, and other amounts, which have been accrued to the benefit of SELLER, are for the account of LOCKHEED XXXXXX. All residual material shall belong to LOCKHEED XXXXXX who shall provide disposition instructions to SELLER. (f) LOCKHEED XXXXXX may audit invoices and substantiating books and records as LOCKHEED XXXXXX xxxxx necessary. Each payment made shall be subject to reduction to the extent of amounts which are found by LOCKHEED XXXXXX or SELLER not to have been properly payable, and shall also be subject to reduction for overpayments. SELLER shall promptly notify LOCKHEED XXXXXX of any such overpayments and remit the amount of the overpayment except as otherwise directed by LOCKHEED XXXXXX.

PAYMENTS, TAXES, AND DUTIES. (a) Payment to SELLER shall be made upon the basis of invoices submitted in such form and detail as Lockheed Xxxxxx may require. LOCKHEED XXXXXX shall make payment within thirty (30) days after receipt and approval of such invoices. (b) Payment for labor shall be computed by multiplying the appropriate hourly rate(s), set forth in this Contract by the number of direct labor hours performed. Rates shall include wages, overhead, general and administrative expense, and profit. Fractional parts of an hour shall be payable on a prorated basis. (c) No overtime will be paid by LOCKHEED XXXXXX unless approved in advance by the LOCKHEED XXXXXX Procurement Representative. If no overtime rates are provided in this Contract, overtime rates will be negotiated. (d) Reimbursable costs in connection with lower-tier lower‐tier subcontracts shall be limited to the amounts actually paid by SELLER to lower-lower‐ tier subcontractors. (e) SELLER shall procure required materials at the most advantageous prices available. Cash and trade discounts, rebates, allowances, credits, and other amounts, which have been accrued to the benefit of SELLER, are for the account of LOCKHEED XXXXXX. All residual material shall belong to LOCKHEED XXXXXX who shall provide disposition instructions to SELLER. (f) LOCKHEED XXXXXX may audit invoices and substantiating books and records as LOCKHEED XXXXXX xxxxx necessary. Each payment made shall be subject to reduction to the extent of amounts which are found by LOCKHEED XXXXXX or SELLER not to have been properly payable, and shall also be subject to reduction for overpayments. SELLER shall promptly notify LOCKHEED XXXXXX of any such overpayments and remit the amount of the overpayment except as otherwise directed found by LOCKHEED XXXXXXSELLER.

PAYMENTS, TAXES, AND DUTIES. (a) Payment to SELLER shall be made upon the basis of invoices submitted in such form and detail as Lockheed Xxxxxx may require. LOCKHEED XXXXXX shall make payment within thirty (30) days after receipt and approval of such invoices. (b) Payment for labor shall be computed by multiplying the appropriate hourly rate(s), set forth in this Contract by the number of direct labor hours performed. Rates shall include wages, overhead, general and administrative expense, and profit. Fractional parts of an hour shall be payable on a prorated basis. (c) No overtime will be paid by LOCKHEED XXXXXX unless approved in advance by the LOCKHEED XXXXXX Procurement Representative. If no overtime rates are provided in this Contract, overtime rates will be negotiated. (d) Reimbursable costs in connection with lower-tier subcontracts shall be limited to the amounts actually paid by SELLER to lower-lower- tier subcontractors. (e) SELLER shall procure required materials at the most advantageous prices available. Cash and trade discounts, rebates, allowances, credits, and other amounts, which have been accrued to the benefit of SELLER, are for the account of LOCKHEED XXXXXX. All residual material shall belong to LOCKHEED XXXXXX who shall provide disposition instructions to SELLER. (f) LOCKHEED XXXXXX may audit invoices and substantiating books and records as LOCKHEED XXXXXX xxxxx necessary. Each payment made shall be subject to reduction to the extent of amounts which are found by LOCKHEED XXXXXX or SELLER not to have been properly payable, and shall also be subject to reduction for overpayments. SELLER shall promptly notify LOCKHEED XXXXXX of any such overpayments and remit the amount of the overpayment except as otherwise directed found by LOCKHEED XXXXXXSELLER.

PAYMENTS, TAXES, AND DUTIES. (a) Payment to SELLER shall be made upon the basis of invoices submitted in such form and detail as Lockheed Xxxxxx may require. LOCKHEED XXXXXX shall make payment within thirty (30) days after receipt and approval of such invoices. (b) Payment for labor shall be computed by multiplying the appropriate hourly rate(s), set forth in this Contract by the number of direct labor hours performed. Rates shall include wages, overhead, general and administrative expense, and profit. Fractional parts of an hour shall be payable on a prorated basis. (c) No overtime will be paid by LOCKHEED XXXXXX unless approved in advance by the LOCKHEED XXXXXX Procurement Representative. If no overtime rates are provided in this Contract, overtime rates will be negotiated. (d) Reimbursable costs in connection with lower-tier subcontracts shall be limited to the amounts actually paid by SELLER to lower-tier subcontractors. (e) SELLER shall procure required materials at the most advantageous prices available. Cash and trade discounts, rebates, allowances, credits, and other amounts, which have been accrued to the benefit of SELLER, are for the account of LOCKHEED XXXXXX. All residual material shall belong to LOCKHEED XXXXXX who shall provide disposition instructions to the SELLER. (f) LOCKHEED XXXXXX may audit invoices and substantiating books and records as LOCKHEED XXXXXX xxxxx necessary. Each payment made shall be subject to reduction to the extent of amounts which are found by LOCKHEED XXXXXX or SELLER not to have been properly payable, and shall also be subject to reduction for overpayments. SELLER shall promptly notify LOCKHEED XXXXXX of any such overpayments and remit the amount of the overpayment except as otherwise directed found by LOCKHEED XXXXXXSELLER.

PAYMENTS, TAXES, AND DUTIES. (a) Payment to SELLER shall be made upon the basis of invoices submitted in such form and detail as Lockheed Xxxxxx may require. LOCKHEED XXXXXX shall make payment within thirty (30) days after receipt and approval of such invoices. (b) Payment for labor shall be computed by multiplying the appropriate hourly rate(s), set forth in this Contract by the number of direct labor hours performed. Rates shall include wages, overhead, general and administrative expense, and profit. Fractional parts of an hour shall be payable on a prorated basis. (c) No overtime will be paid by LOCKHEED XXXXXX unless approved in advance by the LOCKHEED XXXXXX Procurement Representative. If no overtime rates are provided in this Contract, overtime rates will be negotiated. (d) Reimbursable costs in connection with lower-tier subcontracts shall be limited to the amounts actually paid by SELLER to lower-tier subcontractors. (e) SELLER shall procure required materials at the most advantageous prices available. Cash and trade discounts, rebates, allowances, credits, and other amounts, which have been accrued to the benefit of SELLER, are for the account of LOCKHEED XXXXXX. All residual material shall belong to LOCKHEED XXXXXX who shall provide disposition instructions to SELLER. (f) LOCKHEED XXXXXX may audit invoices and substantiating books and records as LOCKHEED XXXXXX xxxxx necessary. Each payment made shall be subject to reduction to the extent of amounts which are found by LOCKHEED XXXXXX or SELLER not to have been properly payable, and shall also be subject to reduction for overpayments. SELLER shall promptly notify LOCKHEED XXXXXX of any such overpayments and remit the amount of the overpayment except as otherwise directed found by LOCKHEED XXXXXXSELLER.

PAYMENTS, TAXES, AND DUTIES. (a) Payment to SELLER Unless otherwise provided, terms of payment shall be made upon the basis of invoices submitted in such form and detail as Lockheed Xxxxxx may require. LOCKHEED XXXXXX shall make payment within thirty net sixty (3060) days after from the latest of one of the following: (i) BUYER’s receipt and approval of such invoicesSELLER’s proper invoice; (ii) scheduled delivery date of the Work; or (iii) actual delivery of the Work. (b) Payment for labor shall be computed by multiplying the appropriate hourly rate(s), set forth in this Contract by the number of direct labor hours performed. Rates shall include wages, overhead, general and administrative expense, and profit. Fractional parts of an hour shall be payable on a prorated basis. (c) No overtime will be paid by LOCKHEED XXXXXX unless approved in advance by the LOCKHEED XXXXXX Procurement Representative. If no overtime rates are provided in this Contract, overtime rates will be negotiated. (d) Reimbursable costs in connection with lower-tier subcontracts shall be limited to the amounts actually paid by SELLER to lower-tier subcontractors. (e) SELLER shall procure required materials at the most advantageous prices available. Cash and trade discounts, rebates, allowances, credits, and other amounts, which have been accrued to the benefit of SELLER, are for the account of LOCKHEED XXXXXX. All residual material shall belong to LOCKHEED XXXXXX who shall provide disposition instructions to SELLER. (f) LOCKHEED XXXXXX may audit invoices and substantiating books and records as LOCKHEED XXXXXX xxxxx necessary. Each payment made shall be subject to reduction to the extent of amounts which are found by LOCKHEED XXXXXX or SELLER BUYER not to have been properly payable, payable and shall also be subject to reduction for overpayments. SELLER shall promptly notify LOCKHEED XXXXXX BUYER of any such overpayments and remit the amount of the overpayment except as otherwise directed by LOCKHEED XXXXXXXXXXX. (c) BUYER shall have a right of setoff against payments due or at issue under this Contract or any other Contract between BUYER’s affiliated entities and SELLER’s affiliated entities. (d) Payment shall be deemed to have been made as of the date of mailing payment or electronic funds transfer. (e) Unless this Contract specifies otherwise, the price of this Contract includes, and SELLER is liable for and shall pay, all taxes, impositions, charges, customs duties or tariffs and similar fees imposed by any government on or measured by this Contract, except for applicable sales and use taxes that are separately stated on SELLER’s invoice. Prices shall not include any taxes, impositions, charges or exactions for which BUYER has furnished a valid exemption certificate or other evidence of exemption. To the extent that BUYER is required to do so under applicable law or tax regulations, BUYER may deduct from any payments due to SELLER pursuant to this Contract such taxes as BUYER is required to withhold from such payments and pay such taxes to the relevant tax authorities; provided, however, that BUYER provides SELLER with relevant tax receipts or other suitable documentation evidencing the payment of such taxes promptly after such taxes are paid.

PAYMENTS, TAXES, AND DUTIES. (a) Payment to SELLER shall be made upon the basis of invoices submitted in such form and detail as Lockheed Xxxxxx may require. LOCKHEED XXXXXX shall make payment within thirty (30) days after receipt and approval of such invoices. (b) Payment for labor shall be computed by multiplying the appropriate hourly rate(s), set forth in this Contract by the number of direct labor hours performed. Rates shall include wages, overhead, general and administrative expense, and profit. Fractional parts of an hour shall be payable on a prorated basis. (c) No overtime will be paid by LOCKHEED XXXXXX unless approved in advance by the LOCKHEED XXXXXX Procurement Representative. If no overtime rates are provided in this Contract, overtime rates will be negotiated. (d) Reimbursable costs in connection with lower-tier subcontracts shall be limited to the amounts actually paid by SELLER to lower-tier subcontractors. (e) SELLER shall procure required materials at the most advantageous prices available. Cash and trade discounts, rebates, allowances, credits, and other amounts, which have been accrued to the benefit of SELLER, are for the account of LOCKHEED XXXXXX. All residual material shall belong to LOCKHEED XXXXXX who shall provide disposition instructions to the SELLER. (f) LOCKHEED XXXXXX may audit invoices and substantiating books and records as LOCKHEED XXXXXX xxxxx necessary. Each payment made shall be subject to reduction to the extent of amounts which are found by LOCKHEED XXXXXX or SELLER not to have been properly payable, and shall also be subject to reduction for overpayments. SELLER shall promptly notify LOCKHEED XXXXXX of any such overpayments and remit the amount of the overpayment except as otherwise directed by LOCKHEED XXXXXX.