TARIFF AND PAYMENT Clause Samples

TARIFF AND PAYMENT. In consideration of the Services being provided by the Service Provider the Client shall pay to the Service Provider the Tariffs calculated in accordance with the provisions of Appendix C against invoices submitted to the Client. The Tariffs will be payable quarterly in advance with effect from the Effective Date and will be invoiced by way of four invoices of equal amount, one issued on each of the Quarter Days. The Tariff is exclusive of Value Added Tax or other similar tax. Any Service Credits payable pursuant to Appendix A shall be deducted quarterly in arrears with effect from the Effective Date. The Parties agree and acknowledge that any Service Credits payable hereunder are liquidated damages and a genuine and reasonable pre-estimate of the loss or damage that would be suffered by the Client in the event that the Service Provider fails to meet the Service Availability Target. If the Client requests in writing that the Service Provider carries out additional work and the Service Provider agrees to perform such work at a cost to be agreed, the Service Provider’s charges shall be calculated by reference to the Service Provider’s reasonable prevailing standard rates of charge. If any sum properly invoiced and payable under this Agreement is not paid by the Client within 30 calendar days of the date of receipt of the invoice, the Service Provider reserves the right to: charge interest from the due date of payment to the actual date of payment at the annual rate of seven per cent. (7%) above EURIBOR from time to time in force; and/or issue a notice in writing to the Client noting the late payment and advising the Client that if the outstanding sum is not paid within a period of seven (7) days from the date of such notice, the Service Provider may, without any liability to the Client whatsoever and without any further notice, reduce the output power of the Service at each Site to fifty per cent (50%) of Output Power (ERP) as detailed in Appendix A, Table 1. if, following the issuance of a notice by the Company pursuant to Clause 5.4(b), due sums remain unpaid after a further period of seven (7) days from the date of the notice, the Company may, without any liability to the Client whatsoever and without any further notice, reduce the output power of the Service at each site to twenty five per cent (25%) of Output Power (ERP) as detailed in Appendix A, Table 1. if, following the issuance of a notice by the Company pursuant to Clause 5.4(b), due sums remain u...