Single Payment for Recurring Charges Sample Clauses
The 'Single Payment for Recurring Charges' clause establishes that all recurring fees or charges under an agreement will be consolidated into a single payment rather than being billed separately for each period. In practice, this means that instead of receiving multiple invoices or making multiple payments for ongoing services or subscriptions, the customer is required to pay the total amount for the entire term upfront or in one lump sum. This approach simplifies billing and payment processes, reducing administrative burden and minimizing the risk of missed or late payments.
Single Payment for Recurring Charges. All Charges which are due and ------------------------------------ payable on a monthly, annual or other periodic basis for Licensed Software and Services ("Recurring Charges") shall be paid by EDS on the same date of the month for each month that such Charges are due (the "Remit Date"). The initial payment for a Recurring Charge shall be made on the first Remit Date after the Applicable Event provided that such Applicable Event occurs at least five (5) days prior to the first Remit Date. An "Applicable Event" is the event set forth in a Purchase Order that initiates payment of Charges (such as the installation, receipt, or acceptance of the Licensed Software; or the commencement or completion of Services). If the Applicable Event occurs less than five (5) days prior to the first Remit Date, the initial payment for such Recurring Charge shall be made on the following Remit Date, and EDS shall not be subject to interest or penalties as a result of such late payment.
Single Payment for Recurring Charges. All Charges which are due and payable on a monthly, annual or other periodic basis for Licensed Software and Services ("Recurring Charges") shall be paid by EDS on the same date of the month for each month that such Charges are due