Common use of RATES, CHARGES AND PAYMENT Clause in Contracts

RATES, CHARGES AND PAYMENT. As full consideration and compensation for the charter of any Boat by the Charterer pursuant to this Agreement or any applicable Work Order, the Owner will charge and the Charterer will pay the rates and charges as shown in the applicable Work Order (Charter Hire). Rates may be agreed to verbally in order to meet specific schedules, but any such agreement shall be confirmed by a Work Order signed by the Owner and the Charterer as soon as practicable. In the event any Boat is furnished by the Owner to the Charterer and it is subsequently discovered that there was no applicable Work Order, the parties agree that the rate to be paid by the Charterer and collected by the Owner for such Boat shall the highest rate charged by the Owner for such Boat. Payment by the Charterer will be made to the Owner within thirty (30) days of invoicing by the Owner to the Charterer, unless otherwise agreed to in the applicable Work Order. All payments to the Owner shall be without deduction for any cause whatsoever. The Charterer shall pay interest at the rate of twelve (12%) percent per annum on any amount due that is past due hereunder. If the Charterer does not agree that the amount invoiced by the Owner to the Charterer accurately sets forth the rates, charges and other terms for the Boat represented by the invoice, the Charterer must notify the Owner in writing within ten (10) days after the invoice is received by the Charterer of the position of the Charterer as to what the Charterer contends to be the correct rates, charges and other terms for the subject Boat; otherwise, the Charterer shall have waived and relinquished the right to dispute the rates, charges and other terms set forth in such invoice.

RATES, CHARGES AND PAYMENT. As full consideration and compensation for the charter of any Boat by the Charterer pursuant to this Agreement or any applicable Work Order, the Owner will charge and the Charterer will pay the rates and charges as shown in the applicable Work Order (Charter Hire). Rates may be agreed to verbally in order to meet specific schedules, but any such agreement shall be confirmed by a Work Order signed by the Owner and the Charterer as soon as practicable. In the event any Boat is furnished by the Owner to the Charterer and it is subsequently discovered that there was no applicable Work Order, the parties agree that the rate to be paid by the Charterer and collected by the Owner for such Boat shall the highest rate charged by the Owner for such Boat. Payment by the Charterer will be made to the Owner within thirty (30) days of invoicing by the Owner to the Charterer, unless otherwise agreed to in the applicable Work Order. All payments to the Owner shall be without deduction for any cause whatsoever. The Charterer shall pay interest at the rate of twelve (12%) percent per annum on any amount due that is past due hereunder. If the Charterer does not agree that the amount invoiced by the Owner to the Charterer accurately sets forth the rates, charges and other terms for the Boat represented by the invoice, the Charterer must notify the Owner in writing within ten (10) days after the invoice is received by the Charterer of the position of the Charterer as to what the Charterer contends to be the correct rates, charges and other terms for the subject Boat; otherwise, the Charterer shall have waived and relinquished the right to dispute the rates, charges and other terms set forth in such invoice.