Common use of PRICES; PAYMENT Clause in Contracts

PRICES; PAYMENT. 8.1. Unless provided otherwise in the purchase order issued by Signify, title in the Goods shall pass to Signify at the time risk is transferred to Signify pursuant to the applicable Incoterm. 8.2. All prices quoted in the Agreement shall be fixed prices. Supplier warrants that such prices are not in excess of the lowest prices charged by Supplier to other similarly situated customers for similar quantities of Goods or Services of like kind and quality. (i) All prices are gross amounts but exclusive of any value added tax (VAT), sales tax, GST (Goods and Services Tax), consumption tax or any other similar tax only. (ii) If the transactions as described in the Agreement are subject to any applicable VAT, sales tax, GST, consumption tax or any other similar tax, Supplier may charge VAT, sales tax, GST (Goods and Services Tax), consumption tax or any other similar tax to Signify, which shall be paid by Signify in addition to the prices quoted. Supplier is responsible for paying any applicable VAT, sales tax, GST (Goods and Services Tax), consumption tax or any other similar tax to the appropriate (tax) authorities. At or after the time delivery has been completed as per Clause 4 but ultimately within six months from delivery, Supplier shall issue an invoice meeting all applicable legal and fiscal requirements and which in any event shall contain: (i) name, address and VAT registration code of Signify, (ii) name, address and VAT registration code of Supplier, (iii) Supplier invoice reference number, (iv) the Signify purchase order number, (v) Supplier invoice date, (vi) amount payable and (vii) applicable currency. Supplier shall send the invoice to Signify according to the instructions as set forth on the purchase order. 8.4. Any license fees shall be included in the price. 8.5. Subject to the acceptance of the Goods, Services and/or Work Product by Signify, and unless provided otherwise in the purchase order of Signify, payment shall be made within ninety-five (95) days end of month from the receipt of the correct invoice to the extent allowed under applicable mandatory law, all in accordance with Clause 8.3 in the proper form. Signify performs its payment runs three times per month. 8.6. If Supplier fails to fulfill any of its obligations under the Agreement, Signify may suspend payment to Supplier upon notice to Supplier. 8.7. Supplier hereby unconditionally accepts that Signify and any of the Signify Affiliates shall at all times have the right to set-off any amounts that any Signify Affiliate owes to Supplier or Supplier Affiliates under this Agreement with any amounts that Supplier or Supplier Affiliates owes to any Signify Affiliate under the Agreement or any other agreement. 8.8. Supplier acknowledges and agrees that any amount to be paid by Signify to Supplier may be paid on Signify’s behalf by another Signify Affiliate and/or a third party designated by Signify. Supplier shall treat such payment as if it were made by Signify itself and Signify’s obligation to pay to Supplier shall automatically be satisfied and discharged in the amount paid by such entity or third party.

PRICES; PAYMENT. 8.1The Products identified in Seller's Quote are offered for sale at the prices indicated in Seller’s Quote. Unless otherwise expressly stated in Seller’s Quote, prices are valid for thirty (30) days and do not include any Taxes. The amount of any Tax shall be paid separately by Buyer, provided otherwise that, in the purchase order issued by Signify, title in the Goods shall pass to Signify event Buyer provides Seller at the time risk the order is transferred to Signify pursuant submitted a valid exemption certificate or other document acceptable to the applicable Incoterm. 8.2authority imposing the Tax, Seller will not impose such Tax. All prices quoted in For the Agreement shall avoidance of doubt, if the proper exemption certificate or other acceptable document is not submitted at the time of order or it is not on file with the Seller’s tax department at the time of order, Buyer will be fixed prices. Supplier warrants that such prices are not in excess of the lowest prices charged by Supplier to other similarly situated customers for similar quantities of Goods or Services of like kind and quality. (i) All prices are gross amounts but exclusive of any value added tax (VAT), sales tax, GST (Goods and Services Tax), consumption tax or any other similar tax only. (ii) If the transactions as described in the Agreement are subject to any applicable VAT, sales tax, GST, consumption tax or any other similar tax, Supplier may charge VAT, sales tax, GST (Goods and Services Tax), consumption tax or any other similar tax to Signify, which shall be paid by Signify in addition to the prices quoted. Supplier is responsible for paying any applicable VAT, sales tax, GST (Goods and Services Tax), consumption tax or any other similar tax to the appropriate (tax) authorities. At or after the time delivery has been completed as per Clause 4 but ultimately within six months from delivery, Supplier shall issue an invoice meeting all applicable legal and fiscal requirements and which in any event shall contain: (i) name, address and VAT registration code of Signify, (ii) name, address and VAT registration code of Supplier, (iii) Supplier invoice reference number, (iv) the Signify purchase order number, (v) Supplier invoice date, (vi) amount payable and (vii) applicable currencyTaxes. Supplier shall send the invoice to Signify according to the instructions as set forth on the purchase order. 8.4. Any license fees shall be included in the price. 8.5. Subject to the acceptance of the Goods, Services and/or Work Product by Signify, and unless provided otherwise in the purchase order of Signify, payment shall be made within ninety-five (95) days end of month from the receipt of the correct invoice to the extent allowed under applicable mandatory law, all in accordance with Clause 8.3 in the proper form. Signify performs its payment runs three times per month. 8.6. If Supplier fails to fulfill any of its obligations under the Agreement, Signify may suspend payment to Supplier upon notice to Supplier. 8.7. Supplier hereby unconditionally accepts that Signify and any of the Signify Affiliates shall at all times have Seller reserves the right to set-off change or withdrawal publicly listed prices at any amounts that time with or without notice for any Signify Affiliate owes to Supplier reason, including, without limitation, changes in volume forecasts, economics or Supplier Affiliates under this Agreement with exchange rates. Payments shall be in United States currency, in cash, certified or bank check, without discounts, setoffs, or other deductions of any amounts that Supplier kind. All sales are contingent upon credit approval and payment for all purchases is due thirty (30) days from the date of invoice (or Supplier Affiliates owes to any Signify Affiliate under the Agreement or any other agreement. 8.8. Supplier acknowledges and agrees that any amount to be paid by Signify to Supplier such date as may be paid on Signifyspecified in the Seller’s behalf Quote). Seller reserves the right to alter or suspend credit terms, require C.O.D or advance payment, whenever Seller has reasonable doubt as to Buyer’s credit worthiness. Accounts that are past due shall bear interest at a rate of 3% per annuum above the prevailing prime rate as published by another Signify Affiliate and/or a third party designated the Wall Street Journal or the maximum rate allowed by Signifylaw, whichever is less. Supplier Buyer shall treat such payment as if it were be liable for Purchaser’s cost of collection for past due accounts, including reasonable attorney fees and expenses. Payment by credit card will be accepted only at time of purchase. Payments made by Signify itself credit card 1 day or greater after order placement will be charged a 3.75% handling and Signifydiscount fee. Unless otherwise specified in Seller’s obligation to pay to Supplier shall automatically be satisfied and discharged Quote, all prices are F.O.B. (as commonly understood in U.S. domestic freight movement) Seller's facility. For export sales, terms are on demand against a Letter of Credit payable in the amount paid United States. The Letter of Credit must be irrevocable and confirmed by such entity or third partya United States bank acceptable to the Seller.

PRICES; PAYMENT. 8.1. Unless provided otherwise in the purchase order issued by Signify, title 7.1 Title in the Goods shall pass to Signify at the time risk is transferred to Signify pursuant Philips on delivery to the applicable Incotermplace of departure. 8.2. 7.2 All prices quoted in the this Agreement shall be fixed prices. Supplier warrants that such prices are not in excess of the lowest prices charged by Supplier to other similarly situated customers for similar quantities of Goods goods or Services services of like kind and quality. Any license fees shall be included in the price. (i) 7.3 All prices are gross amounts but exclusive of any value added tax (VAT), sales tax, GST (Goods and Services Tax), consumption tax or any other similar tax only. (ii) . If the transactions as described in the this Agreement are subject to any applicable VAT, sales tax, GST, consumption tax or any other similar tax, Supplier may shall be allowed to charge VAT, sales tax, GST (Goods and Services Tax), consumption tax or any other similar tax to SignifyPhilips, which shall be paid by Signify in addition to Philips on top of the prices quotedprices. Supplier is responsible for paying any applicable VAT, sales tax, GST (Goods and Services Tax), consumption tax or any other similar tax to the appropriate (tax) authorities. At or after the time delivery has been completed as per Clause 4 but ultimately within six months from delivery, Supplier shall issue an invoice meeting all containing wording that shall allow Philips to take advantage of any applicable legal and fiscal requirements and which in any event shall contain: (i) name“input” tax deduction. In addition, address and VAT registration code of Signify, (ii) name, address and VAT registration code of Supplier, (iii) Supplier invoice reference number, (iv) the Signify purchase order number, (v) Supplier invoice date, (vi) amount payable and (vii) applicable currency. Supplier shall send the invoice inform Philips whether Philips is allowed to Signify according apply for an exemption if and to the instructions as set forth on the purchase orderextent allowed under applicable law in such specific situation. 8.4. Any license fees shall be included in the price. 8.5. 7.4 Subject to the acceptance of the Goods, Goods and/or Services and/or Work Product by Signify, and unless provided otherwise in the purchase order of SignifyPhilips, payment shall be made within ninety-five sixty (9560) days from the end of the month from of the receipt of the correct invoice to the extent allowed under applicable mandatory law, all in accordance with Clause 8.3 in the proper form. Signify performs its In the event that payment runs three times is not made by Philips within said sixty (60) day the period, Philips’ liability to Supplier shall be limited to interest over the amount unpaid at a rate not to exceed six percent (6%) per monthannum. Supplier must submit invoices no later than six (6) months after Philips acceptance. 8.6. 7.5 If Supplier fails to fulfill any of its obligations under the this Agreement, Signify Philips may suspend payment to Supplier upon notice to Supplier. 8.7. Supplier hereby unconditionally accepts that Signify and any of the Signify Affiliates Philips shall at all times have the right to set-set off and deduct from any amounts that any Signify Affiliate owes owing from Philips to Supplier or Supplier Affiliates under this Agreement with any amounts that of its affiliates any amount owing from Supplier or Supplier Affiliates owes any of its affiliates to Philips, irrespective of the nature of any Signify Affiliate under the Agreement or any other agreementsuch claim. 8.8. 7.6 Supplier acknowledges and agrees that any amount to be paid by Signify Philips to Supplier may be paid on SignifyPhilip’s behalf by another Signify Affiliate legal entity belonging to the Philips Group of Companies and/or a third party designated by SignifyPhilips. Supplier shall treat such payment as if it were made by Signify Philips itself and Signify’s Philips’ obligation to pay to Supplier shall automatically be satisfied and discharged in for the amount paid by such entity or third partyentity.

PRICES; PAYMENT. 8.1. Unless provided otherwise in the purchase order issued by Signify, title in the Goods shall pass to Signify at the time risk is transferred to Signify pursuant to the applicable Incoterm. 8.2. All prices quoted in the Agreement shall be fixed prices. Supplier warrants that such prices are not in excess of the lowest prices charged by Supplier to other similarly situated customers for similar quantities of Goods or Services of like kind and quality. (i) All prices are gross amounts but exclusive of any value added tax (VAT), sales tax, GST (Goods and Services Tax), consumption tax or any other similar tax only. (ii) If the transactions as described in the Agreement are subject to any applicable VAT, sales tax, GSTGST (Goods and Services Tax), consumption tax or any other similar tax, Supplier may charge VAT, sales tax, GST (Goods and Services Tax)GST, consumption tax or any other similar tax to Signify, which shall be paid by Signify in addition to the prices quoted. Supplier is responsible for paying any applicable VAT, sales tax, GST (Goods and Services Tax)GST, consumption tax or any other similar tax to the appropriate (tax) authorities. At or after the time delivery has been completed as per Clause 4 but ultimately within six months from delivery, Supplier shall issue an invoice meeting all applicable legal and fiscal requirements and which in any event shall contain: (i) name, address and VAT registration code of Signify, (ii) name, address and VAT registration code of Supplier, (iii) Supplier invoice reference number, (iv) the Signify purchase order number, (v) Supplier invoice date, (vi) amount payable and (vii) applicable currency. Supplier shall send the invoice to Signify according to the instructions as set forth on the purchase order. 8.4. Any license fees shall be included in the price. 8.5. Subject to the acceptance of the Goods, Services and/or Work Product by Signify, and unless provided otherwise in the purchase order of Signify, payment shall be made within ninety-five (95) days end of month from the receipt of the correct invoice to the extent allowed under applicable mandatory law, all in accordance with Clause 8.3 in the proper form. Signify performs its payment runs three times per month. 8.6. If Supplier fails to fulfill any of its obligations under the Agreement, Signify may suspend payment to Supplier upon notice to Supplier. 8.7. Supplier hereby unconditionally accepts that Signify and any of the Signify Affiliates shall at all times have the right to set-off any amounts that any Signify Affiliate owes to Supplier or Supplier Affiliates under this Agreement with any amounts that Supplier or Supplier Affiliates owes to any Signify Affiliate under the Agreement or any other agreement. 8.8. Supplier acknowledges and agrees that any amount to be paid by Signify to Supplier may be paid on Signify’s behalf by another Signify Affiliate and/or a third party designated by Signify. Supplier shall treat such payment as if it were made by Signify itself and Signify’s obligation to pay to Supplier shall automatically be satisfied and discharged in the amount paid by such entity or third party.