Common use of Price, Invoicing, Payment and Set off Clause in Contracts

Price, Invoicing, Payment and Set off. 7.1 Invoices must be set, issued and managed in compliance with Applicable laws, as well as with operating procedures and rules set forth by MARELLI, according to which, among other things, Supplier shall send invoices exclusively to the accounting service center appointed by MARELLI, unless otherwise directed by MARELLI in writing. 7.2 Unless otherwise agreed in writing, Supplier shall invoice MARELLI for the Products after delivery of the Products. The Price shall be Supplier’s full compensation for the Products. MARELLI shall have no obligation to make any further payment to Supplier in connection with the Products. No increase in Price shall be accepted by MARELLI without prior written agreement by MARELLI. Invoices shall include all data and supporting documentation requested by MARELLI. 7.3 Invoices may be rejected for non-compliance with any of the provisions of this Agreement. MARELLI shall make payment of the Price to Supplier in accordance with the payment conditions established by MARELLI. 7.4 MARELLI will pay for the Products in accordance with the payment terms and in the currency specified in the Purchase Order. Acceptance of the Products shall be a precondition of any payment. If the payment date is not a business day, payment shall be due the next business day thereafter, to the extent permitted by the Applicable Law. In any case, MARELLI shall effect payments following receipt of the relevant invoices, duly filled, as well as receipt of any other documentation required under Applicable Law. 7.5 The Parties agree and acknowledge that provisions related to the financial and economic aspects of the Purchase Order and / or Agreement may be revised by MARELLI as a consequence of currency exchange rate variations or other factors that could have unintended economic impacts related to the profitability of the relevant project applicable to Products.

Price, Invoicing, Payment and Set off. 7.1 Invoices must be set, issued and managed in compliance with Applicable laws, as well as with operating procedures and rules set forth by MARELLI, according to which, among other things, Supplier shall send invoices exclusively to the accounting service center appointed by MARELLI, unless otherwise directed by MARELLI in writing. 7.2 Unless otherwise agreed in writing, Supplier shall invoice MARELLI for the Products after delivery of the Products. The Price shall be Supplier’s full compensation for the Products. MARELLI shall have no obligation to make any further payment to Supplier in connection with the Products. No increase in Price shall be accepted by MARELLI without prior written agreement by MARELLIagreement. Invoices shall include all data and supporting documentation requested by MARELLI. 7.3 Invoices may be rejected for non-compliance with any of the provisions of this Agreement. MARELLI shall make payment of the Price to Supplier in accordance with the payment conditions established by MARELLI. 7.4 MARELLI will pay for the Products in accordance with the payment terms and in the currency specified in the Purchase Order. Acceptance of the Products shall be a precondition of any payment. If the payment date is not a business day, payment shall be due the next business day thereafter, to the extent permitted by the Applicable Law. In any case, MARELLI shall effect payments following receipt of the relevant invoices, duly filled, as well as receipt of any other documentation required under Applicable Law. 7.5 The Parties agree and acknowledge that provisions related to the financial and economic aspects of the Purchase Order and / or Agreement may be revised by MARELLI as a consequence of currency exchange rate variations or other factors that could have unintended economic impacts related to the profitability of the relevant project applicable to Products.

Price, Invoicing, Payment and Set off. 7.1 Invoices must be set, issued and managed in compliance with Applicable laws, as well as with operating procedures and rules set forth by MARELLI, according to which, among other things, Supplier shall send invoices exclusively to the accounting service center appointed by MARELLI, unless otherwise directed by MARELLI in writing. 7.2 Unless otherwise agreed in writing, Supplier shall invoice MARELLI for the Products after delivery of the Products. The Price shall be Supplier’s full compensation for the Products. MARELLI shall have no obligation to make any further payment to Supplier in connection with the Products. No increase in Price shall be accepted by MARELLI without prior written agreement by MARELLIagreement. Invoices shall include all data and supporting documentation requested by MARELLI. 7.3 Invoices may be rejected for non-compliance with any of the provisions of this Agreement. MARELLI shall make payment of the Price to Supplier in accordance with the payment conditions established by MARELLI. 7.4 MARELLI will pay for payment term is 60 (sixty) days from the Products in accordance with the payment terms and in the currency specified in the Purchase Order. Acceptance end of the Products month during which the Supplier’s invoice is received by MARELLI. It remains understood, however, that MARELLI shall be a precondition effect payments on or before the 10th day of any payment. If the payment date is not a business day, payment shall be due month following that in which the next business day thereafter, to the extent permitted by the Applicable Lawabove 60 (sixty) days period has elapsed. In any case, MARELLI shall effect payments following receipt of the relevant invoices, duly filled, as well as receipt of any other documentation required under Applicable Law. 7.5 The Parties agree and acknowledge that provisions related to the financial and economic aspects of the Purchase Order and / or Agreement may be revised by MARELLI as a consequence of currency exchange rate variations or other factors that could have unintended economic impacts related to the profitability of the relevant project applicable to Products.