Common use of Terms and Method of Payment Clause in Contracts

Terms and Method of Payment. Unless stated otherwise on the Quote, payment in full will be due 30 days from the date of invoice regardless of controversies relating to other Product deliveries or undelivered Products. Alternatively, ZEISS may require a deposit upon placement of the order, in which case the payment balance will be due on delivery (including applicable sales tax, cost of freight, insurance, etc.). Notwithstanding the foregoing, ZEISS reserves the right to require payment in full, in advance, or C.O.D., or otherwise modify credit terms either before or after acceptance of any order if for any reason Xxxxx’s credit is or becomes objectionable to ZEISS. Pending correction of any objectionable credit situation, ZEISS may withhold shipments without incurring any liability to Buyer. All balances not paid when due shall be subject to a service charge equal to 1.5% per month, or the highest rate permitted by law, whichever is less. Buyer shall make all payment hereunder in U.S. dollars. Buyer’s obligation to pay outstanding invoices and any other amounts due shall not be subject to any abatement, reduction, set-off, defense, counterclaim, interruption, deferment, or recoupment for any reason whatsoever. Any discounts, rebates, administrative fees, credits, or other fees due or owed to Buyer will be applied by ZEISS against such delinquent balances first before a payment or reimbursement is made to Buyer.

Terms and Method of Payment. Unless stated otherwise on the Quote, payment in full will be due 30 days from the date of invoice regardless of controversies relating to other Product deliveries or undelivered Products. Alternatively, ZEISS may require a deposit upon placement of the order, in which case the payment balance will be due on delivery (including applicable sales tax, cost of freight, insurance, etc.). Notwithstanding the foregoing, ZEISS reserves the right to require payment in full, in advance, or C.O.D., or otherwise modify credit terms either before or after acceptance of any order if for any reason XxxxxBuyer’s credit is or becomes objectionable to ZEISS. Pending correction of any objectionable credit situation, ZEISS may withhold shipments without incurring any liability to Buyer. All balances not paid when due shall be subject to a service charge equal to 1.5% per month, or the highest rate permitted by law, whichever is less. Buyer shall make all payment hereunder in U.S. dollars. Buyer’s obligation to pay outstanding invoices and any other amounts due shall not be subject to any abatement, reduction, set-off, defense, counterclaim, interruption, deferment, or recoupment for any reason whatsoever. Any discounts, rebates, administrative fees, credits, or other fees due or owed to Buyer will be applied by ZEISS against such delinquent balances first before a payment or reimbursement is made to Buyer.