Common use of Pricing and Payments Clause in Contracts

Pricing and Payments. 1. The Transmission User must pay a monthly fee to the Operator (hereinafter “Fee”) for the provision of the services agreed in the Agreement and in the Approved Application by the latter. The Fee is calculated and invoiced pursuant to the provisions of the Network Code, the Tariff Regulation, the NNGS Usage Tariff and any relevant delegated acts. It is explicitly agreed that the Transmission User shall incur any tax, duty or other relative charge to the aforementioned Fee, as may be imposed in accordance with the applicable legislation. The Operator shall pay monthly to the Transmission User the amount of charges that are attributable to the latter pursuant to the Network Code, the Tariff Regulation, the NNGS Usage Tariff and any relevant delegated acts. 2. The Transmission User acknowledges that the Operator’s Fee is fair and reasonable, proportionate to the services provided, and not subject to restrictions, terms, conditions and reservations, offsetting or any reductions, save as otherwise stipulated by the applicable legislation. 3. The Transmission User shall be invoiced on a monthly basis. Without prejudice to Article [56] of the Network Code, the relevant settlement shall be made as set out in the Tariff Regulation and the NNGS Usage Tariff. The invoice for each calendar month shall be issued and sent by the Operator no later than the twentieth (20th) calendar day of the following calendar month. It is explicitly agreed that the Parties shall fulfill their financial obligations towards each other, as these are specified in each monthly invoice, by the Due Date. The Due Date for each invoice shall be the tenth (10th) business day from the day on which the invoice was received by its recipient. 4. The invoice shall state in detail at least the following, in relation to the relevant calendar month: a) The Transmission User’s financial obligations towards the Operator, as follows: (i) The Operator’s Fee to be paid by the Transmission User and, separately, every charge provided by this Agreement or by the provisions of the Network Code, the Tariff Regulation and the NNGS Usage Tariff. (ii) Any other debt due by the Transmission User arising from this Agreement and by the applicable legislation. (iii) The sum of any taxes, duties or other charges that may be incurred by the Transmission User in accordance with the applicable legislation. (iv) The total amount that is due by the Transmission User. b) The Operator’s financial obligations to the Transmission User, as follows: (i) Credits arising from this Agreement and in accordance the applicable legislation. (ii) Any other due debt by the Operator to the Transmission User arising from this Agreement and in accordance with the applicable legislation. (iii) Any taxes, duties or other charges that may be incurred by the Operator in accordance with the applicable legislation. (iv) The total amount that is due by the Operator. 5. If the Transmission User does not pay the total amount due on the Due Date, such amount shall become due and payable. In such a case: a) in addition to the due amount, the Transmission User shall be charged with default interest calculated from the day after the Due Date at the interest rate for late payment as is determined by the Bank of Greece, until the full payment of the due amount. b) the Operator shall notify the Transmission User by any appropriate means that, if the payable amount is not fully and duly paid within three (3) business days from the aforementioned notification, the Operator’s obligation to provide the services agreed by virtue of this Agreement and any Approved Application shall be suspended from the day after above deadline has elapsed and until full and due payment, without need of any further notification of the Transmission User and without any obligation on the part of the Operator to pay any indemnity for the cessation of the provision of the aforementioned services for this reason. c) the Operator may terminate the Agreement in accordance with Article [10] of this Agreement; and d) other consequences provided for by the applicable legislation shall apply. 6. It is explicitly agreed that if the Transmission User disputes the amount of the financial obligations referred to in paragraph [4(a)] or [4(b)], these amounts shall be payable despite any referral of the dispute to amicable settlement, arbitration or litigation as provided for by Article [12] of the Agreement. Any unduly paid or non- credited amounts shall be paid with interest, at the rate for late payment as determined by the Bank of Greece.

Appears in 1 contract

Samples: Framework Agreement

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Pricing and Payments. 1. The Transmission User must pay a monthly fee to the Operator (hereinafter “Fee”) for the provision of the services agreed in the Agreement and in the Approved Application by the latter. The Fee is calculated and invoiced pursuant to the provisions of the Network Code, the Tariff Regulation, the NNGS Usage Tariff and any relevant delegated acts. It is explicitly agreed that the Transmission User shall incur any tax, duty or other relative charge to the aforementioned Fee, as may be imposed in accordance with the applicable legislation. The Operator shall pay monthly to the Transmission User the amount of charges that are attributable to the latter pursuant to the Network Code, the Tariff Regulation, the NNGS Usage Tariff and any relevant delegated acts. 2. The Transmission User acknowledges that the Operator’s Fee is fair and reasonable, proportionate to the services provided, and not subject to restrictions, terms, conditions and reservations, offsetting or any reductions, save as otherwise stipulated by the applicable legislation. 3. The Transmission User shall be invoiced on a monthly basis. Without prejudice to Article [56] of the Network Code, the relevant settlement shall be made as set out in the Tariff Regulation and the NNGS Usage TariffTariff . The invoice for each calendar month shall be issued and sent by the Operator no later than the twentieth (20th) calendar day of the following calendar month. It is explicitly agreed that the Parties shall fulfill their financial obligations towards each other, as these are specified in each monthly invoice, by the Due Date. The Due Date for each invoice shall be the tenth (10th) business day from the day on which the invoice was received by its recipient. 4. The invoice shall state in detail at least the following, in relation to the relevant calendar month: a) The Transmission User’s financial obligations towards the Operator, as follows: (i) The Operator’s Fee to be paid by the Transmission User and, separately, every charge provided by this Agreement or by the provisions of the Network Code, the Tariff Regulation and the NNGS Usage TariffTariff . (ii) Any other debt due by the Transmission User arising from this Agreement and by the applicable legislation. (iii) The sum of any taxes, duties or other charges that may be incurred by the Transmission User in accordance with the applicable legislation. (iv) The total amount that is due by the Transmission User. b) The Operator’s financial obligations to the Transmission User, as follows: (i) Credits arising from this Agreement and in accordance the applicable legislation. (ii) Any other due debt by the Operator to the Transmission User arising from this Agreement and in accordance with the applicable legislation. (iii) Any taxes, duties or other charges that may be incurred by the Operator in accordance with the applicable legislation. (iv) The total amount that is due by the Operator. 5. If the Transmission User does not pay the total amount due on the Due Date, such amount shall become due and payable. In such a case: a) in addition to the due amount, the Transmission User shall be charged with default interest calculated from the day after the Due Date at the interest rate for late payment as is determined by the Bank of Greece, until the full payment of the due amount. b) the Operator shall notify the Transmission User by any appropriate means that, if the payable amount is not fully and duly paid within three (3) business days from the aforementioned notification, the Operator’s obligation to provide the services agreed by virtue of this Agreement and any Approved Application shall be suspended from the day after above deadline has elapsed and until full and due payment, without need of any further notification of the Transmission User and without any obligation on the part of the Operator to pay any indemnity for the cessation of the provision of the aforementioned services for this reason. c) the Operator may terminate the Agreement in accordance with Article [10] of this Agreement; and d) other consequences provided for by the applicable legislation shall apply. 6. It is explicitly agreed that if the Transmission User disputes the amount of the financial obligations referred to in paragraph [4(a)] or [4(b)], these amounts shall be payable despite any referral of the dispute to amicable settlement, arbitration or litigation as provided for by Article [12] of the Agreement. Any unduly paid or non- credited amounts shall be paid with interest, at the rate for late payment as determined by the Bank of Greece.

Appears in 1 contract

Samples: Framework Agreement for the Transmission of Natural Gas

Pricing and Payments. 1. The Transmission User must pay a monthly fee to the Operator (hereinafter “Fee”) for the provision of the services agreed in the Agreement and in the every Approved Application by the latter. The Fee is calculated and invoiced pursuant to the provisions of the Network Code, the Tariff RegulationRegulation of NNGS, the NNGS Usage Tariff and any relevant delegated acts. It is explicitly agreed that the Transmission User shall incur any tax, duty duty, or other relative charge to the aforementioned Fee, as may be imposed in accordance with the applicable legislation. The Operator shall pay monthly to the Transmission User the amount of charges that are attributable to the latter pursuant to the Network Code, the Tariff RegulationRegulation of NNGS, the NNGS Usage Tariff and any relevant delegated acts. 2. The Transmission User acknowledges that the Operator’s Fee is fair and reasonable, proportionate to the services provided, and not subject to restrictions, terms, conditions and reservations, offsetting offsetting, or any reductions, save as otherwise stipulated by the applicable legislation. 3. The Transmission User shall be invoiced on a monthly basis. Without prejudice to Article [56] of the Network Code, the relevant settlement shall be made as set out in according to the Tariff Regulation of NNGS and the NNGS Usage Tariff. The invoice for each calendar month shall be issued and sent by the Operator no later than the twentieth (20th) calendar day of the following calendar month. It is explicitly agreed that the Parties shall fulfill their financial obligations towards each other, as these are specified in each monthly invoice, by the Due Date. The Due Date for each invoice shall be the tenth (10th) business day from the day on which the invoice was received by its recipient. 4. The invoice shall state in detail at least the followingdetail, in relation relating to the relevant calendar month, at least the following: a) The Transmission User’s financial obligations towards the Operator, as follows: (i) The Operator’s Fee to be paid by the Transmission User and, separately, every charge provided by this Agreement or by the provisions of the Network Code, the Tariff Regulation of NNGS and the NNGS Usage Tariff. (ii) Any other debt due by the Transmission User arising from this the Agreement and by the applicable legislation. (iii) The sum of any taxes, duties or other charges that may be incurred by the Transmission User in accordance with the applicable legislation. (iv) The total amount that is due by the Transmission User. b) The Operator’s financial obligations to the Transmission User, as follows: (i) Credits arising from this the Agreement and in accordance the applicable legislation. (ii) Any other due debt by the Operator to the Transmission User arising from this the Agreement and in accordance with the applicable legislation. (iii) Any taxes, duties or other charges that may be incurred by the Operator in accordance with the applicable legislation. (iv) The total amount that is due by the Operator. 5. If In case the Transmission User does not pay the total amount due on until the Due Date, such said amount shall become due overdue and payablechargeable. In such a this case: a) in addition to the due amount, the Transmission User shall be charged with default interest calculated from the day after the Due Date at the interest rate for late payment as is determined by the Bank of Greece, until the full payment of the due amount. b) the Operator shall notify the Transmission User by any appropriate means that, if the payable chargeable amount is not fully and duly paid within three (3) business days from the aforementioned notification, the Operator’s obligation to provide the services agreed by virtue of this Agreement and any Approved Application shall be suspended from the day after above deadline has elapsed and until full and due payment, without need of any further notification of notifying the Transmission User and without any obligation on the part of the Operator to pay any indemnity for the cessation of the provision of the aforementioned services for this reason. c) the Operator may terminate the Agreement in accordance with Article [10] of this Agreement; and d) other consequences provided for by the applicable legislation shall apply. 6. It is explicitly agreed that if the Transmission User disputes the amount of the financial obligations referred to in paragraph [4(a)] or [4(b)], these amounts shall be payable despite any referral of the dispute to amicable settlement, arbitration or litigation as provided for by Article [12] of the Agreement. Any unduly paid or non- credited amounts shall be paid with interest, at the rate for late payment as determined by the Bank of Greece.Article

Appears in 1 contract

Samples: Framework Agreement for the Transmission of Natural Gas

Pricing and Payments. 1. The Transmission LNG User must pay a monthly fee to the Operator (hereinafter “Fee”) for the provision of the services agreed in the Agreement and in the each Approved LNG Application by the latter. The Fee is calculated and invoiced pursuant to the provisions of the Network Code, the Tariff Regulation, the NNGS Usage Tariff of the NNGS and any the relevant delegated acts. It is explicitly agreed that the Transmission User shall incur any tax, duty or other relative charge to the aforementioned Fee, as may be imposed in accordance with the applicable legislation. The Operator shall pay monthly to the Transmission User the amount of charges that are attributable to the latter pursuant to the Network Code, the Tariff Regulation, the NNGS Usage Tariff and any relevant delegated acts.agreed 2. The Transmission LNG User acknowledges that the Operator’s Fee is fair and reasonable, proportionate to the services provided, and not subject to restrictions, terms, conditions and reservations, offsetting or any reductions, save as otherwise stipulated by the applicable legislation. 3. The Transmission LNG User shall be invoiced on a monthly basismonthly. Without prejudice to Article [56] of the Network Code, the The relevant settlement shall be made as set out defined in the Tariff Regulation of NNGS and the NNGS Usage Tariff. The invoice for each calendar month shall be issued and sent by the Operator no later than by the twentieth (20th) calendar day of the following calendar month. It is explicitly agreed that the Contracting Parties shall fulfill their financial obligations towards each other, as these are specified in each monthly invoice, by the Due Date. The Due Date for each invoice shall be the tenth (10th) business day from the day on which the invoice was received by its recipient. 4. The invoice shall state in detail at least the following, in relation to the relevant calendar month: a) The Transmission LNG User’s financial obligations towards the Operator, as follows: The Operator’s Fee that is payable by the LNG User, and: (i) The Operator’s Fee to be paid by the Transmission User and, separatelySeparately, every charge provided stipulated by this the Agreement or by the provisions of the Network Code, the Tariff Regulation of NNGS and the NNGS Usage Tariff. (ii) Any other debt due by the Transmission LNG User arising from this the Agreement and by the applicable legislation. (iii) The sum of any taxes, duties or other charges that may be incurred by the Transmission LNG User in accordance with the applicable legislation. (iv) The total amount that is due by the Transmission LNG User. b) The Operator’s financial obligations to the Transmission LNG User, as follows: (i) Credits arising from this the Agreement and in accordance with the applicable legislation. (ii) Any other debt due debt by the Operator to the Transmission LNG User arising from this the Agreement and in accordance with the applicable legislation. (iii) Any taxes, duties or other charges that may be incurred by the Operator in accordance with the applicable legislation. (iv) The total amount that is due by the Operator. 5. If the Transmission LNG User does not pay the total amount due on the Due Date, such amount shall become due and payable. In such a case: a) in addition to the due amount, the Transmission LNG User shall be charged with default interest calculated from the day after the Due Date at the interest default rate for late payment as is determined by the Bank of Greece, until the full payment of the due amountamount due. b) the Operator shall notify the Transmission LNG User by any appropriate means that, if the payable amount is not fully and duly paid within three (3) business days from the aforementioned notification, the Operator’s obligation to provide the services agreed by virtue of this Agreement and any Approved Application shall be suspended from the day after above deadline has elapsed and until full and due payment, without need of any further notification of the Transmission LNG User and without any obligation on the part of the Operator to pay any indemnity for the cessation of the provision of the aforementioned services for this reason. c) the Operator may terminate the Agreement in accordance with Article [10] of this the Agreement; and d) other consequences provided for by the applicable legislation shall apply. 6. It is explicitly agreed that that, if the Transmission LNG User disputes the amount of the financial obligations referred to in paragraph [4(a)] or [4(b)], these amounts shall be payable despite any referral of the dispute to amicable settlement, arbitration or litigation as provided for stipulated by Article [12] of the LNG Agreement. Any unduly paid or non- non-credited amounts shall be paid with interest, at in accordance with the default rate for late payment as determined by the Bank of Greece.

Appears in 1 contract

Samples: Framework Agreement

Pricing and Payments. 1. The Transmission User must pay a monthly fee to the Operator (hereinafter “Fee”) for the provision of the services agreed in the Agreement and in the every Approved Application by the latter. The Fee is calculated and invoiced pursuant to the provisions of the Network Code, the Tariff RegulationRegulation of NNGS, the NNGS Usage Tariff and any relevant delegated acts. It is explicitly agreed that the Transmission User shall incur any tax, duty or other relative charge to the aforementioned Fee, as may be imposed in accordance with the applicable legislation. The Operator shall pay monthly to the Transmission User the amount of charges that are attributable to the latter pursuant to the Network Code, the Tariff RegulationRegulation of NNGS, the NNGS Usage Tariff and any relevant delegated acts. 2. The Transmission User acknowledges that the Operator’s Fee is fair and reasonable, proportionate to the services provided, and not subject to restrictions, terms, conditions and reservations, offsetting or any reductions, save as otherwise stipulated by the applicable legislation. 3. The Transmission User shall be invoiced on a monthly basis. Without prejudice to Article [56] of the Network Code, the relevant settlement shall be made as set out in according to the Tariff Regulation of NNGS and the NNGS Usage Tariff. The invoice for each calendar month shall be issued and sent by the Operator no later than the twentieth (20th) calendar day of the following calendar month. It is explicitly agreed that the Parties shall fulfill their financial obligations towards each other, as these are specified in each monthly invoice, by the Due Date. The Due Date for each invoice shall be the tenth (10th) business day from the day on which the invoice was received by its recipient. 4. The invoice shall state in detail at least the followingdetail, in relation relating to the relevant calendar month, at least the following: a) The Transmission User’s financial obligations towards the Operator, as follows: (i) The Operator’s Fee to be paid by the Transmission User and, separately, every charge provided by this Agreement or by the provisions of the Network Code, the Tariff Regulation of NNGS and the NNGS Usage Tariff. (ii) Any other debt due by the Transmission User arising from this the Agreement and by the applicable legislation. (iii) The sum of any taxes, duties or other charges that may be incurred by the Transmission User in accordance with the applicable legislation. (iv) The total amount that is due by the Transmission User. b) The Operator’s financial obligations to the Transmission User, as follows: : (i) Credits arising from this the Agreement and in accordance the applicable legislation. (ii) Any other due debt by the Operator to the Transmission User arising from this Agreement and in accordance with the applicable legislation. (iii) Any taxes, duties or other charges that may be incurred by the Operator in accordance with the applicable legislation. (iv) The total amount that is due by the Operator. 5. If the Transmission User does not pay the total amount due on the Due Date, such amount shall become due and payable. In such a case: a) in addition to the due amount, the Transmission User shall be charged with default interest calculated from the day after the Due Date at the interest rate for late payment as is determined by the Bank of Greece, until the full payment of the due amount. b) the Operator shall notify the Transmission User by any appropriate means that, if the payable amount is not fully and duly paid within three (3) business days from the aforementioned notification, the Operator’s obligation to provide the services agreed by virtue of this Agreement and any Approved Application shall be suspended from the day after above deadline has elapsed and until full and due payment, without need of any further notification of the Transmission User and without any obligation on the part of the Operator to pay any indemnity for the cessation of the provision of the aforementioned services for this reason. c) the Operator may terminate the Agreement in accordance with Article [10] of this Agreement; and d) other consequences provided for by the applicable legislation shall apply. 6. It is explicitly agreed that if the Transmission User disputes the amount of the financial obligations referred to in paragraph [4(a)] or [4(b)], these amounts shall be payable despite any referral of the dispute to amicable settlement, arbitration or litigation as provided for by Article [12] of the Agreement. Any unduly paid or non- credited amounts shall be paid with interest, at the rate for late payment as determined by the Bank of Greece.

Appears in 1 contract

Samples: Framework Agreement for the Transmission of Natural Gas

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Pricing and Payments. 1. The Transmission LNG User must pay a monthly fee to the Operator (hereinafter “Fee”) for the provision of the services agreed in the Agreement and in the each Approved LNG Application by the latter. The Fee is calculated and invoiced pursuant to the provisions of the Network Code, the Tariff Regulation, the NNGS Usage Tariff of the NNGS and any the relevant delegated acts. It is explicitly agreed that the Transmission LNG User shall incur any tax, duty or other relative charge to the aforementioned Fee, as may be imposed in accordance with the applicable legislation. The Operator shall pay monthly to the Transmission LNG User the amount of charges that are attributable due to it pursuant to the latter pursuant to provisions of the Network Code, the Tariff Regulation, the NNGS Usage Tariff and any the relevant delegated acts. 2. The Transmission LNG User acknowledges that the Operator’s Fee is fair and reasonable, proportionate to the services provided, and not subject to restrictions, terms, conditions and reservations, offsetting or any reductions, save as otherwise stipulated by the applicable legislationlegislation . 3. The Transmission LNG User shall be invoiced on a monthly basismonthly. Without prejudice to Article [56] of the Network Code, the The relevant settlement shall be made as set out in the Tariff Regulation and the NNGS Usage Tariff. The invoice for each calendar month shall be issued and sent by the Operator no later than by the twentieth (20th) calendar day of the following calendar month. It is explicitly agreed that the Contracting Parties shall fulfill their financial obligations towards each other, as these are specified in each monthly invoice, by the Due Date. The Due Date for each invoice shall be the tenth (10th) business day from the day on which the invoice was received by its recipient. 4. The invoice shall state in detail at least the following, in relation to the relevant calendar month: a) The Transmission LNG User’s financial obligations towards the Operator, as follows: The Operator’s Fee that is payable by the LNG User, and: (i) The Operator’s Fee to be paid by the Transmission User and, separatelySeparately, every charge provided stipulated by this Agreement or by the provisions of the Network Code, the Tariff Regulation and the NNGS Usage TariffTariff . (ii) Any other debt due by the Transmission LNG User arising from this Agreement and by the applicable legislation. (iii) The sum of any taxes, duties or other charges that may be incurred by the Transmission LNG User in accordance with the applicable legislation. (iv) The total amount that is due by the Transmission LNG User. b) The Operator’s financial obligations to the Transmission LNG User, as follows: (i) Credits arising from this Agreement and in accordance the applicable legislation. (ii) Any other due debt by the Operator to the Transmission User arising from this Agreement and in accordance with the applicable legislation. (iii) Any taxes, duties or other charges that may be incurred by the Operator in accordance with the applicable legislation. (iv) The total amount that is due by the Operator. 5. If the Transmission User does not pay the total amount due on the Due Date, such amount shall become due and payable. In such a case: a) in addition to the due amount, the Transmission User shall be charged with default interest calculated from the day after the Due Date at the interest rate for late payment as is determined by the Bank of Greece, until the full payment of the due amount. b) the Operator shall notify the Transmission User by any appropriate means that, if the payable amount is not fully and duly paid within three (3) business days from the aforementioned notification, the Operator’s obligation to provide the services agreed by virtue of this Agreement and any Approved Application shall be suspended from the day after above deadline has elapsed and until full and due payment, without need of any further notification of the Transmission User and without any obligation on the part of the Operator to pay any indemnity for the cessation of the provision of the aforementioned services for this reason. c) the Operator may terminate the Agreement in accordance with Article [10] of this Agreement; and d) other consequences provided for by the applicable legislation shall apply. 6. It is explicitly agreed that if the Transmission User disputes the amount of the financial obligations referred to in paragraph [4(a)] or [4(b)], these amounts shall be payable despite any referral of the dispute to amicable settlement, arbitration or litigation as provided for by Article [12] of the Agreement. Any unduly paid or non- credited amounts shall be paid with interest, at the rate for late payment as determined by the Bank of Greece.

Appears in 1 contract

Samples: Framework Agreement for the Transmission of Natural Gas

Pricing and Payments. 1. The Transmission LNG User must pay a monthly fee to the Operator (hereinafter “Fee”) for the provision of the services agreed in the Agreement and in the each Approved LNG Application by the latter. The Fee is calculated and invoiced pursuant to the provisions of the Network Code, the Tariff Regulation, the NNGS Usage Tariff of the NNGS and any the relevant delegated acts. It is explicitly agreed that the Transmission LNG User shall incur any tax, duty duty, or other relative charge to the aforementioned Fee, as may be imposed in accordance with the applicable legislation. The Operator shall pay monthly to the Transmission LNG User the amount of charges that are attributable charges, due to it’s pursuant to the latter pursuant to provisions of the Network Code, the NNGS Tariff Regulation, the NNGS Usage Tariff and any the relevant delegated acts. 2. The Transmission LNG User acknowledges that the Operator’s Fee is fair and reasonable, proportionate to the services provided, and not subject to restrictions, terms, conditions and reservations, offsetting offsetting, or any reductions, save as otherwise stipulated by the applicable legislation. 3. The Transmission LNG User shall be invoiced on a monthly basismonthly. Without prejudice to Article [56] of the Network Code, the The relevant settlement shall be made as set out defined in the Tariff Regulation of NNGS and the NNGS Usage Tariff. The invoice for each calendar month shall be issued and sent by the Operator no later than by the twentieth (20th) calendar day of the following calendar month. It is explicitly agreed that the Contracting Parties shall fulfill their financial obligations towards each other, as these are specified in each monthly invoice, by the Due Date. The Due Date for each invoice shall be the tenth (10th) business day from the day on which the invoice was received by its recipient. 4. The invoice shall state in detail at least the following, in relation to the relevant calendar month: a) The Transmission LNG User’s financial obligations towards the Operator, as follows: The Operator’s Fee that is payable by the LNG User, and: (i) The Operator’s Fee to be paid by the Transmission User and, separatelySeparately, every charge provided stipulated by this the Agreement or by the provisions of the Network Code, the Tariff Regulation of NNGS and the NNGS Usage Tariff. (ii) Any other debt due by the Transmission LNG User arising from this the Agreement and by the applicable legislation. (iii) The sum of any taxes, duties or other charges that may be incurred by the Transmission LNG User in accordance with the applicable legislation. (iv) The total amount that is due by the Transmission LNG User. b) The Operator’s financial obligations to the Transmission LNG User, as follows: (i) Credits arising from this the Agreement and in accordance with the applicable legislation. (ii) Any other debt due debt by the Operator to the Transmission LNG User arising from this the Agreement and in accordance with the applicable legislation. (iii) Any taxes, duties or other charges that may be incurred by the Operator in accordance with the applicable legislation. (iv) The total amount that is due by the Operator. 5. If the Transmission LNG User does not pay the total amount due on the Due Date, such amount shall become due and payable. In such a case: a) in addition to the due amount, the Transmission LNG User shall be charged with default interest calculated from the day after the Due Date at the interest default rate for late payment as is determined by the Bank of Greece, until the full payment of the due amountamount due. b) the Operator shall notify the Transmission LNG User by any appropriate means that, if the payable amount is not fully and duly paid within three (3) business days from the aforementioned notification, the Operator’s obligation to provide the services agreed by virtue of this Agreement and any Approved Application shall be suspended from the day after above deadline has elapsed and until full and due payment, without need of any further notification of the Transmission LNG User and without any obligation on the part of the Operator to pay any indemnity for the cessation of the provision of the aforementioned services for this reason. c) the Operator may terminate the Agreement in accordance with Article [10] of this the Agreement; and d) other consequences provided for by the applicable legislation shall apply. 6. It is explicitly agreed that that, if the Transmission LNG User disputes the amount of the financial obligations referred to in paragraph [4(a)] or [4(b)], these amounts shall be payable despite any referral of the dispute to amicable settlement, arbitration or litigation as provided for stipulated by Article [12] of the LNG Agreement. Any unduly paid or non- non-credited amounts shall be paid with interest, at in accordance with the default rate for late payment as determined by the Bank of Greece.

Appears in 1 contract

Samples: Framework Agreement

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