Common use of Price; Payment Terms Clause in Contracts

Price; Payment Terms. (a) Product prices shall be as set forth in Exhibit A and are subject to modification as otherwise provided in this Agreement. All applicable sales, use, excise or other taxes directly related to the sales of Products (other than taxes on Cree's net income) will be paid by C&C unless C&C provides Cree with appropriate tax exemption certificates. All reasonable, documented out-of-pocket shipping expenses incurred by Cree for independent transportation companies will be invoiced to and paid by C&C. All unit prices and price extensions are subject to correction for clerical or mathematical errors. (b) Upon shipment of the Products, Cree will generate an invoice that will be promptly provided to C&C. Each shipment shall be considered a separate and independent transaction, and payment for each shipment shall be due accordingly. Unless otherwise agreed upon in writing, C&C shall pay Cree net [****] days following the invoice date. Cree reserves the right to revoke or modify these credit terms if C&C’s credit rating significantly declines or its payments to Cree are repeatedly overdue. All payments will be made in US dollars to a bank account designated by Cree, with each Party being responsible for any fees or charges incurred from its own bank. (c) Any portion of any invoice not paid by the applicable due date therefor will accrue interest until paid at the rate of [****] per month or, if less, the maximum rate permitted by law. Cree hereby reserves, and Obligors hereby grant to Cree, a security interest in all Collateral (as defined below) to secure any and all amounts due from C&C to Cree relating to the purchase of Products under this Agreement or any Sales Agreement created hereunder until all amounts due Cree therefor have been paid in full; provided that, except with respect to Cree Priority Collateral (as defined below), Cree agrees that its security interest in Collateral will be subordinate to Obligors’ lender’s security interest therein. Obligors agree upon Cree’s request to sign appropriate financing statements evidencing Cree’s security interest hereunder. Further, Obligors authorize Cree to execute and file a financing statement to perfect Cree’s security interest hereunder in the Collateral. In the event of default in payment of any invoice, C&C agrees to pay Cree's reasonable, documented out-of-pocket expenses, including reasonable attorney's fees and expenses, incurred in enforcing payment thereof. The Parties acknowledge and agree that (x) with respect to any overdue unpaid amount under this Agreement, Cree may exercise its rights under its security interest in the Cree Priority Collateral beginning on the day following the day on which the unpaid amount was due, provided that, subject to and in accordance with the thirty (30)-day stand-by period set forth in Section 2.3(a) of the IC Agreement (defined below), Cree shall not take any remedial action against any Cree Priority Collateral (i.e., Cree shall not sell, lease, assign, transfer, remove or otherwise dispose of all or any portion of the Cree Priority Collateral) prior to the day following the expiration of such thirty (30)-day stand-by period and any of Obligors (or their lender) will be permitted to cure any late payment during that 30-day period, (y) neither Cree’s exercise of such rights nor taking of any such remedial action shall itself be construed as a termination of this Agreement (under Section 14(a) or otherwise), and (z) Cree’s rights with respect to Collateral are subject to that certain intercreditor agreement among Cree, C&C, and Xxxxx Fargo Bank, National Association (the “IC Agreement”). For purposes of this Section 6(c): (I) the capitalized terms “Accounts,” “Deposit Accounts,” and “Inventory” shall have the meanings ascribed to such terms in the Uniform Commercial Code as in effect in the State of Georgia;

Price; Payment Terms. Prices for Products (a) Product prices shall be as set forth valid for 30 days from the quotation date, unless otherwise stated thereon, and (b) do not include (i) taxes and other charges imposed by governmental or regulatory authorities in Exhibit A and are subject to modification as otherwise provided in this Agreement. All applicable salesconnection with the sale, use, excise or other taxes directly related to delivery of Product and the sales provision of Products any services, and (other than taxes on Cree's net incomeii) will be paid by C&C unless C&C provides Cree with appropriate tax exemption certificatesshipping and handling charges, including insurance, brokerage fees, special packaging, and transportation (collectively, “Shipping Charges”). Customer is responsible for all Taxes (except ThinGap income taxes) and Shipping Charges. All reasonableProduct pricing, documented out-of-pocket shipping expenses incurred by Cree for independent transportation companies will be invoiced to and paid by C&C. All unit prices quotations and price extensions lists are subject confidential and proprietary to correction for clerical or mathematical errors. (b) Upon shipment of the Products, Cree will generate an invoice that will be promptly provided to C&C. Each shipment shall be considered a separate and independent transactionThinGap, and Customer shall not disclose the foregoing to any third party. If payment for each shipment shall terms are approved, all payments must be due accordingly. Unless otherwise agreed upon made in writing, C&C shall pay Cree net [****] U.S. dollars and received by ThinGap within 30 days following of the invoice date. Cree reserves the right to revoke or modify these credit terms if C&C’s credit rating significantly declines or its payments to Cree are repeatedly overdue. All payments will Payments from Customers may be made in US dollars by wire transfer to ThinGap’s designated account or via check or credit card. If Customer does not pay the total invoice amount when due, Customer will pay ThinGap a bank account designated by Cree, with each Party being responsible for any fees or charges incurred from its own bank. (c) Any portion fee of any invoice not paid by the applicable due date therefor will accrue interest until paid at the rate of [****] 1-1/2% per month (or, if less, the maximum rate permitted allowable by law, if lower) on the unpaid balance. Cree If Customer is delinquent in the payment of any invoice or is otherwise in breach of this Agreement, ThinGap has the right, without liability, to withhold additional shipments of Product or Services to Customer, withdraw acceptance of POs, and/or impose additional credit terms. Customer hereby reserves, and Obligors hereby grant to Cree, grants ThinGap a security interest in all Collateral (as defined below) the Products to secure any and payment therefor. Upon ThinGap’s request, Customer will execute all amounts due from C&C to Cree relating to the purchase of Products under this Agreement or any Sales Agreement created hereunder until all amounts due Cree therefor have been paid in full; provided that, except with respect to Cree Priority Collateral (as defined below), Cree agrees that its security interest in Collateral will be subordinate to Obligors’ lender’s security interest therein. Obligors agree upon Cree’s request to sign appropriate financing statements evidencing Cree’s security interest hereunder. Further, Obligors authorize Cree to execute and file a financing statement related documents as reasonably necessary to perfect Cree’s security interest hereunder in the Collateralsuch interest. In the event Customer shall have no right of default in payment of any invoice, C&C agrees to set-off. Customer will pay Cree's reasonable, documented out-of-pocket expenses, all costs and expenses (including reasonable attorney's fees and expenses, attorneys’ fees) incurred by ThinGap in enforcing payment thereof. The Parties acknowledge and agree that (x) with respect to any overdue unpaid amount its rights under this Agreement, Cree may exercise its rights under its security interest in the Cree Priority Collateral beginning on the day following the day on which the unpaid amount was due, provided that, subject to and in accordance with the thirty (30)-day stand-by period set forth in . Any credit or payment terms that vary from this Section 2.3(a) of the IC Agreement (defined below), Cree shall not take any remedial action against any Cree Priority Collateral (i.e., Cree shall not sell, lease, assign, transfer, remove or otherwise dispose of all or any portion of the Cree Priority Collateral) prior to the day following the expiration of such thirty (30)-day stand-by period and any of Obligors (or their lender) will be permitted to cure any late payment during that 30-day period, (y) neither Cree’s exercise of such rights nor taking of any such remedial action shall itself be construed as a termination of this Agreement (under Section 14(a) or otherwise), and (z) Cree’s rights with respect to Collateral 3 are subject to that certain intercreditor agreement among Cree, C&C, and Xxxxx Fargo Bank, National Association (the “IC Agreement”). For purposes of this Section 6(c): (I) the capitalized terms “Accounts,” “Deposit Accounts,” and “Inventory” shall have the meanings ascribed to such terms in the Uniform Commercial Code as in effect in the State of Georgia;ThinGap’s prior written approval.

Price; Payment Terms. (a) Product prices shall be as set forth in Exhibit A All prices, discounts and promotions posted on this Site are subject to modification change without notice. The price charged for Goods or Services will be the price advertised on this Site at the time the order is placed, subject to the terms of any promotions or discounts that may be applicable (“Purchase Price”). The Purchase Price charged will be clearly stated in the order confirmation email. Currency exchange rates are based on various public sources, are provided for information purposes only, and are not verified as otherwise provided in this Agreementaccurate. All applicable salesActual rates from Customer’s local bank, use, excise credit card company or other institution may vary. Final transactions are processed only in Canadian dollars. Price increases will only apply to orders placed after the time of the increase. Posted prices do not include taxes directly or charges for shipping and handling. Although Vendor strives to display accurate price information, Vendor may, on occasion, make inadvertent typographical errors, inaccuracies or omissions related to pricing and availability and, therefore, Vendor reserves the sales of Products (other than taxes on Cree's net income) will be paid by C&C unless C&C provides Cree with appropriate tax exemption certificates. All reasonableright to correct any errors, documented out-of-pocket shipping expenses incurred by Cree for independent transportation companies will be invoiced inaccuracies or omissions at any time and to and paid by C&C. All unit prices and price extensions are subject to correction for clerical or mathematical errorscancel any orders arising from such occurrences. (b) Upon shipment Customer’s submission of the ProductsCustomer’s order as stated herein, Cree will generate Customer shall pay to Vendor a deposit via credit card to purchase Goods in an invoice that will be promptly provided to C&C. Each shipment shall be considered a separate and independent transaction, and payment amount of $500.00 CAD (Five Hundred Canadian Dollars) (exclusive of taxes) for each shipment Good the “Deposit” and the balance for all purchased Goods and Services shall be due accordinglywithin three (3) business days of Customer’s credit card payment (the “Balance”). Unless otherwise agreed Subject to the terms of these Terms, upon in writingsuccessful processing of the Deposit and Vendor’s acceptance of Customer’s order, C&C the purchased Goods will be secured, and an email confirmation will be sent to Customer including detailed instructions as to the next steps to pay the outstanding Balance as stated herein. The Deposit shall pay Cree net [****] days be refundable up until the close of business of the third business day following the invoice dateCustomer’s payment of the Deposit, at which time the Deposit will automatically and without further notice become non-refundable, non-cancelable and non-transferable. Cree reserves Upon any refund of the right Deposit, the associated Goods will no longer be reserved for Customer and any confirmation related to revoke or modify these credit terms such Goods will be void. Customer acknowledges and agrees that, subject to any refund of the Deposit, payment of the Deposit shall not relieve Customer of its obligations to pay the remainder of the Purchase Price within three (3) business days of the Deposit (assuming Vendor accepts Customer’s Order), and if C&C’s credit rating significantly declines or Balance is not paid, Customer will forfeit its payments to Cree are repeatedly overdueDeposit and the Goods and Services will no longer be reserved. Taxes shall be calculated on the total Purchase Price based on location of Goods and Services and shall be finally determined only at time of payment of the Balance. All payments amounts set out or referred to in this Agreement are exclusive of all taxes, duties and levies, however designated or computed. Customer will be made pay all taxes, duties, and levies, including without limitation sales, use, or value-added taxes, duties and withholding taxes, based upon or payable in US dollars to a bank account designated by Cree, with each Party being responsible for any fees or charges incurred from its own bank. (c) Any portion respect of any invoice not paid by the applicable due date therefor will accrue interest until paid at the rate of [****] per month or, if lessthis Agreement, the maximum rate permitted by lawtransactions, licenses, Goods or Services provided for hereunder or the payments made hereunder, excluding any taxes based upon Vendor’s net income. Cree hereby reserves, and Obligors hereby grant If Customer is required to Cree, a security interest in all Collateral (as defined below) withhold any taxes from payments owed to secure any and all amounts due from C&C to Cree relating to the purchase of Products under this Agreement or any Sales Agreement created hereunder until all amounts due Cree therefor have been paid in full; provided that, except with respect to Cree Priority Collateral (as defined below), Cree agrees that its security interest in Collateral will be subordinate to Obligors’ lender’s security interest therein. Obligors agree upon Cree’s request to sign appropriate financing statements evidencing Cree’s security interest hereunder. Further, Obligors authorize Cree to execute and file a financing statement to perfect Cree’s security interest hereunder in the Collateral. In the event of default in payment of any invoice, C&C agrees to pay Cree's reasonable, documented out-of-pocket expenses, including reasonable attorney's fees and expenses, incurred in enforcing payment thereof. The Parties acknowledge and agree that (x) with respect to any overdue unpaid amount Vendor under this Agreement, Cree may exercise its rights under its security interest in then the Cree Priority Collateral beginning on the day following the day on which the unpaid amount was due, provided that, subject to and in accordance with the thirty (30)-day stand-by period set forth in Section 2.3(a) of the IC payment due will automatically be increased by the Customer by the amount of such tax, so that the amount actually received by Vendor equals the Purchase Price or amount otherwise due. Upon request, Customer shall promptly furnish Vendor with all official receipts evidencing payment of taxes due under or in relation to this Agreement (defined below), Cree shall not take any remedial action against any Cree Priority Collateral (i.e., Cree shall not sell, lease, assign, transfer, remove or otherwise dispose of all or any portion of the Cree Priority Collateral) prior to the day following the expiration of such thirty (30)-day stand-by period and any of Obligors (or their lender) will be permitted to cure any late payment during that 30-day period, (y) neither Cree’s exercise of such rights nor taking of any such remedial action shall itself be construed as a termination of this Agreement (under Section 14(a) or otherwise), and (z) Cree’s rights with respect to Collateral are subject to that certain intercreditor agreement among Cree, C&C, and Xxxxx Fargo Bank, National Association (the “IC Agreement”). For purposes of this Section 6(c): (I) the capitalized terms “Accounts,” “Deposit Accounts,” and “Inventory” shall have the meanings ascribed to such terms in the Uniform Commercial Code as in effect in the State of Georgia;appropriate taxing authority.

Price; Payment Terms. Prices for Products (a) Product prices shall be as set forth valid for 30 days from the quotation date, unless otherwise stated thereon, and (b) do not include (i) taxes and other charges imposed by governmental or regulatory authorities in Exhibit A and are subject to modification as otherwise provided in this Agreement. All applicable salesconnection with the sale, use, excise or other taxes directly related to delivery of Product and the sales provision of Products any services, and (other than taxes on Cree's net incomeii) will be paid by C&C unless C&C provides Cree with appropriate tax exemption certificatesshipping and handling charges, including insurance, brokerage fees, special packaging, and transportation (collectively, “Shipping Charges”). Customer is responsible for all Taxes (except ThinGap income taxes) and Shipping Charges. All reasonableProduct pricing, documented out-of-pocket shipping expenses incurred by Cree for independent transportation companies will be invoiced to and paid by C&C. All unit prices quotations and price extensions lists are subject confidential and proprietary to correction for clerical or mathematical errors. (b) Upon shipment of the Products, Cree will generate an invoice that will be promptly provided to C&C. Each shipment shall be considered a separate and independent transactionThinGap, and Customer shall not disclose the foregoing to any third party. If payment for each shipment shall terms are approved, all payments must be due accordingly. Unless otherwise agreed upon made in writing, C&C shall pay Cree net [****] U.S. dollars and received by ThinGap within 30 days following of the invoice date. Cree reserves the right to revoke or modify these credit terms if C&C’s credit rating significantly declines or its payments to Cree are repeatedly overdue. All payments will Payments from Customers may be made by wire transfer to ThinGap’s designated account or via check or credit card. If Customer does not pay the total invoice amount when due, Customer will pay ThinGap a fee of 1-1/2% per month (or the maximum rate allowable by law, if lower) on the unpaid balance. If Customer is delinquent in US dollars to a bank account designated by Cree, with each Party being responsible for any fees or charges incurred from its own bank. (c) Any portion the payment of any invoice not paid by or is otherwise in breach of this Agreement, ThinGap has the applicable due date therefor will accrue interest until paid at the rate right, without liability, to withhold additional shipments of [****] per month orProduct or Services to Customer, if lesswithdraw acceptance of POs, the maximum rate permitted by lawand/or impose additional credit terms. Cree Customer hereby reserves, and Obligors hereby grant to Cree, grants ThinGap a security interest in all Collateral (as defined below) the Products to secure any and payment therefor. Upon ThinGap’s request, Customer will execute all amounts due from C&C to Cree relating to the purchase of Products under this Agreement or any Sales Agreement created hereunder until all amounts due Cree therefor have been paid in full; provided that, except with respect to Cree Priority Collateral (as defined below), Cree agrees that its security interest in Collateral will be subordinate to Obligors’ lender’s security interest therein. Obligors agree upon Cree’s request to sign appropriate financing statements evidencing Cree’s security interest hereunder. Further, Obligors authorize Cree to execute and file a financing statement related documents as reasonably necessary to perfect Cree’s security interest hereunder in the Collateralsuch interest. In the event Customer shall have no right of default in payment of any invoice, C&C agrees to set-off. Customer will pay Cree's reasonable, documented out-of-pocket expenses, all costs and expenses (including reasonable attorney's fees and expenses, attorneys’ fees) incurred by ThinGap in enforcing payment thereof. The Parties acknowledge and agree that (x) with respect to any overdue unpaid amount its rights under this Agreement, Cree may exercise its rights under its security interest in the Cree Priority Collateral beginning on the day following the day on which the unpaid amount was due, provided that, subject to and in accordance with the thirty (30)-day stand-by period set forth in . Any credit or payment terms that vary from this Section 2.3(a) of the IC Agreement (defined below), Cree shall not take any remedial action against any Cree Priority Collateral (i.e., Cree shall not sell, lease, assign, transfer, remove or otherwise dispose of all or any portion of the Cree Priority Collateral) prior to the day following the expiration of such thirty (30)-day stand-by period and any of Obligors (or their lender) will be permitted to cure any late payment during that 30-day period, (y) neither Cree’s exercise of such rights nor taking of any such remedial action shall itself be construed as a termination of this Agreement (under Section 14(a) or otherwise), and (z) Cree’s rights with respect to Collateral 3 are subject to that certain intercreditor agreement among Cree, C&C, ThinGap’s prior written approval and Xxxxx Fargo Bank, National Association (the “IC Agreement”). For purposes of this Section 6(c): (I) the capitalized terms “Accounts,” “Deposit Accounts,” and “Inventory” shall have the meanings ascribed may be subject to such terms in the Uniform Commercial Code as in effect in the State of Georgia;a finance charge.

Price; Payment Terms. (a) Product prices shall be as set forth in Exhibit A and are subject to modification as otherwise provided in this Agreement. All applicable sales, use, excise or other taxes directly related to the sales of Products (other than taxes on Cree's net income) will be paid by C&C unless C&C provides Cree with appropriate tax exemption certificates. All reasonable, documented out-of-pocket shipping expenses incurred by Cree for independent transportation companies will be invoiced to and paid by C&C. All unit prices and price extensions are subject to correction for clerical or mathematical errors. (b) Upon shipment of the Products, Cree will generate an invoice that will be promptly provided to C&C. Each shipment shall be considered a separate and independent transaction, and payment for each shipment shall be due accordingly. Unless otherwise agreed upon in writing, C&C shall pay Cree net [****] days following the invoice date. Cree reserves the right to revoke or modify these credit terms if C&C’s credit rating significantly declines or its payments to Cree are repeatedly overdue. All payments will be made in US dollars to a bank account designated by Cree, with each Party being responsible for any fees or charges incurred from its own bank. (c) Any portion of any invoice not paid by the applicable due date therefor will accrue interest until paid at the rate of [****] per month or, if less, the maximum rate permitted by law. Cree hereby reserves, and Obligors hereby grant to Cree, a security interest in all Collateral (as defined below) to secure any and all amounts due from C&C to Cree relating to the purchase of Products under this Agreement or any Sales Agreement created hereunder until all amounts due Cree therefor have been paid in full; provided that, except with respect to Cree Priority Collateral (as defined below), Cree agrees that its security interest in Collateral will be subordinate to Obligors’ lender’s security interest therein. Obligors agree upon Cree’s request to sign appropriate financing statements evidencing Cree’s security interest hereunder. Further, Obligors authorize Cree to execute and file a financing statement to perfect Cree’s security interest hereunder in the Collateral. In the event of default in payment of any invoice, C&C agrees to pay Cree's reasonable, documented out-of-pocket expenses, including reasonable attorney's fees and expenses, incurred in enforcing payment thereof. The Parties acknowledge and agree that (x) with respect to any overdue unpaid amount under this Agreement, Cree may exercise its rights under its security interest in the Cree Priority Collateral beginning on the day following the day on which the unpaid amount was due, provided that, subject to and in accordance with the thirty (30)-day stand-by period set forth in Section 2.3(a) of the IC Agreement (defined below), Cree shall not take any remedial action against any Cree Priority Collateral (i.e., Cree shall not sell, lease, assign, transfer, remove or otherwise dispose of all or any portion of the Cree Priority Collateral) prior to the day following the expiration of such thirty (30)-day stand-by period and any of Obligors (or their lender) will be permitted to cure any late payment during that 30-day period, (y) neither Cree’s exercise of such rights nor taking of any such remedial action shall itself be construed as a termination of this Agreement (under Section 14(a) or otherwise), and (z) Cree’s rights with respect to Collateral are subject to that certain intercreditor agreement among Cree, C&C, and Xxxxx Fargo Bank, National Association (the “IC Agreement”). For purposes of this Section 6(c):): [****] Confidential treatment requested pursuant to a request for confidential treatment filed with the Securities and Exchange Commission. Omitted portions have been separately filed with the Commission. (I) the capitalized terms “Accounts,” “Deposit Accounts,” and “Inventory” shall have the meanings ascribed to such terms in the Uniform Commercial Code as in effect in the State of Georgia;

Price; Payment Terms. (a) Product prices shall be as set forth in Exhibit A All prices, discounts and promotions posted on this Site are subject to modification change without notice. The price charged for Goods or Services will be the price advertised on this Site at the time the order is placed, subject to the terms of any promotions or discounts that may be applicable (“Purchase Price”). The Purchase Price charged will be clearly stated in the order confirmation email. Currency exchange rates are based on various public sources, are provided for information purposes only, and are not verified as otherwise provided in this Agreementaccurate. All applicable salesActual rates from Customer’s local bank, use, excise credit card company or other institution may vary. Final transactions are processed only in Canadian dollars. Price increases will only apply to orders placed after the time of the increase. Posted prices do not include taxes directly or charges for shipping and handling. Although Vendor strives to display accurate price information, Vendor may, on occasion, make inadvertent typographical errors, inaccuracies or omissions related to pricing and availability and, therefore, Vendor reserves the sales of Products (other than taxes on Cree's net income) will be paid by C&C unless C&C provides Cree with appropriate tax exemption certificates. All reasonableright to correct any errors, documented out-of-pocket shipping expenses incurred by Cree for independent transportation companies will be invoiced inaccuracies or omissions at any time and to and paid by C&C. All unit prices and price extensions are subject to correction for clerical or mathematical errorscancel any orders arising from such occurrences. (b) Upon shipment Customer’s submission of Customer’s order as stated herein, Customer shall pay to Vendor a deposit via credit card to purchase Goods in an amount representing 10% of the Products, Cree will generate an invoice that will be promptly provided Purchase Price of each individual Goods (exclusive of taxes) to C&C. Each shipment shall be considered a separate and independent transaction, and payment maximum of Ten Thousand Canadian Dollars ($10,000.00 CAD) for each shipment individual Goods (the “Deposit”) and the balance for all purchased Goods and Services shall be due accordingly. Unless otherwise agreed upon in writing, C&C shall pay Cree net [****] within three (3) business days following the invoice date. Cree reserves the right to revoke or modify these credit terms if C&Cof Customer’s credit rating significantly declines or card payment (the “Balance”). Subject to the terms of these Terms, upon successful processing of the Deposit and Vendor’s acceptance of Customer’s order, the purchased Goods will be secured, and an email confirmation will be sent to Customer including detailed instructions as to the next steps to pay the outstanding Balance as stated herein. Deposit shall, subject to the application of an administrative fee of 15% of the total Deposit retained by Vendor (the “Deposit Refund Admin Fee”), be refundable up until the close of business of the third business day following Customer’s payment of the Deposit, at which time the Deposit will automatically and without further notice become non-refundable, non-cancelable and non-transferable. Upon any refund of the Deposit, the associated Goods will no longer be reserved for Customer and any confirmation related to such Goods will be void. Customer acknowledges and agrees that, subject to any refund of the Deposit, payment of the Deposit shall not relieve Customer of its payments obligations to Cree are repeatedly overduepay the remainder of the Purchase Price within three (3) business days of the Deposit (assuming Vendor accepts Customer’s Order), and if Balance is not paid, Customer will forfeit its Deposit and the Goods and Services will no longer be reserved. Taxes shall be calculated on the total Purchase Price based on location of Goods and Services and shall be finally determined only at time of payment of the Balance. All payments amounts set out or referred to in this Agreement are exclusive of all taxes, duties and levies, however designated or computed. Customer will be made pay all taxes, duties, and levies, including without limitation sales, use, or value-added taxes, duties and withholding taxes, based upon or payable in US dollars to a bank account designated by Cree, with each Party being responsible for any fees or charges incurred from its own bank. (c) Any portion respect of any invoice not paid by the applicable due date therefor will accrue interest until paid at the rate of [****] per month or, if lessthis Agreement, the maximum rate permitted by lawtransactions, licenses, Goods or Services provided for hereunder or the payments made hereunder, excluding any taxes based upon Vendor’s net income. Cree hereby reserves, and Obligors hereby grant If Customer is required to Cree, a security interest in all Collateral (as defined below) withhold any taxes from payments owed to secure any and all amounts due from C&C to Cree relating to the purchase of Products under this Agreement or any Sales Agreement created hereunder until all amounts due Cree therefor have been paid in full; provided that, except with respect to Cree Priority Collateral (as defined below), Cree agrees that its security interest in Collateral will be subordinate to Obligors’ lender’s security interest therein. Obligors agree upon Cree’s request to sign appropriate financing statements evidencing Cree’s security interest hereunder. Further, Obligors authorize Cree to execute and file a financing statement to perfect Cree’s security interest hereunder in the Collateral. In the event of default in payment of any invoice, C&C agrees to pay Cree's reasonable, documented out-of-pocket expenses, including reasonable attorney's fees and expenses, incurred in enforcing payment thereof. The Parties acknowledge and agree that (x) with respect to any overdue unpaid amount Vendor under this Agreement, Cree may exercise its rights under its security interest in then the Cree Priority Collateral beginning on the day following the day on which the unpaid amount was due, provided that, subject to and in accordance with the thirty (30)-day stand-by period set forth in Section 2.3(a) of the IC payment due will automatically be increased by the Customer by the amount of such tax, so that the amount actually received by Vendor equals the Purchase Price or amount otherwise due. Upon request, Customer shall promptly furnish Vendor with all official receipts evidencing payment of taxes due under or in relation to this Agreement (defined below), Cree shall not take any remedial action against any Cree Priority Collateral (i.e., Cree shall not sell, lease, assign, transfer, remove or otherwise dispose of all or any portion of the Cree Priority Collateral) prior to the day following the expiration of such thirty (30)-day stand-by period and any of Obligors (or their lender) will be permitted to cure any late payment during that 30-day period, (y) neither Cree’s exercise of such rights nor taking of any such remedial action shall itself be construed as a termination of this Agreement (under Section 14(a) or otherwise), and (z) Cree’s rights with respect to Collateral are subject to that certain intercreditor agreement among Cree, C&C, and Xxxxx Fargo Bank, National Association (the “IC Agreement”). For purposes of this Section 6(c): (I) the capitalized terms “Accounts,” “Deposit Accounts,” and “Inventory” shall have the meanings ascribed to such terms in the Uniform Commercial Code as in effect in the State of Georgia;appropriate taxing authority.