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TERMS OF CREDIT Sample Clauses

TERMS OF CREDIT a. Unless otherwise provided in the invoice, all amounts due must be paid upon receipt at the gross invoice price. All payments shall be in U.S. Dollars by Customer check, Bank check or wire transfer cleared by issuing U. S. Bank. b. If an invoice is not paid when due, the Customer shall pay interest at the rate of 1.5 % per month (18% APR) on all past due invoices. The rate of interest shall not exceed the maximum rate of interest permitted by law. All interest charges shall be due upon the Customer’s receipt of the billing statement. c. At Mastoloni’s option, payments received may be applied first to any interest due and then to the oldest principal balance of any of the Customer’s invoices, whether or not any invoices are then past due. d. In the event the Customer’s account is referred to a collection agency or attorney, Mastoloni shall be entitled to recover and the Customer shall pay all collection expenses, commissions and attorney fees and disbursements, whether or not litigation is commenced. x. Xxxxxxxxx may at time-to-time at your direction, in our sole and absolute discretion, consign pearls, diamonds, other precious stones, jewelry, and other merchandise (collectively ‘Merchandise’) to you. It is anticipated that each consignment of Merchandise to you will be accompanied by our standard form of memorandum. This application will confirm our understanding and agreement that (i) each delivery of Merchandise to you by us, whether made prior to the date hereof or after the date hereof, is made subject to all of the terms of the standard Mastoloni Consignment Memorandum, and (ii) your execution of this Credit Application and Agreement and receipt of any goods constitutes your acceptance of all the terms of the Memorandum.
TERMS OF CREDIT. All credit terms are net 30 days from date of invoice. Any deductions from the net invoice amount must be approved by a representative of Xxxxxxx authorized to make such changes. If c r e di t is extended to Buyer, Xxxxxxx reserves the right to revoke such credit if Xxxxx fails to make timely payment for any goods delivered. Xxxxxxx reserves the right to require payment or other assurances which it deems necessary prior to the shipment of any goods, if, in Xxxxxxx' s opinion, exercised in Xxxxxxx' s subjective, good faith judgment, the Buyer' s financial condition has deteriorated or the risk of non-payment has otherwise increased. Credit is subject to approval upon receipt of completed credit application. Any goods shipped prior to credit approval shall be shipped C.O.D., " Cashier' s Check" , or pre-payment. A $25.00 charge will be applied for each returned check. Goods may not be returned for credit unless Xxxxxxx has granted prior authorization and an authorization number. A 1% per month charge will be assessed on past due amounts.
TERMS OF CREDIT. 6.1. Whilst the Agreement subsists the Supplier will be entitled to validate the ongoing financial stability of the Buyer at such intervals as it reasonably considers necessary. The Buyer will give its full co-operation to the Supplier in this regard including but not limited to the granting of reasonable access to the financial accounts and records of the Buyer. 6.2. The Buyer will notify the Supplier immediately if a Material Adverse Circumstance arises, or if any of the events referred to in clauses 15.2.1 or 15.2.2 occurs in relation to it. 6.3. If: (a) the Supplier does not hold Credit Support for the Buyer's obligations (whether for the price, the CSO obligation, any possible Supplemental Payment, applicable VAT or otherwise) under this Agreement; (b) Buyer gives notice under clause 5.2; or (c) Supplier considers in its sole discretion that: i. a Material Adverse Circumstance has arisen; ii. that any of the events referred to in clauses 21.2.1 to 21.2.3 has occurred: or iii. that any Credit Support already held by it is inadequate or otherwise unacceptable to it (whether by reason of its amount being insufficient, or the party supplying such payment security no longer being able to fulfil its obligations under that Credit Support in the reasonable opinion, or otherwise howsoever), the Supplier may in its sole discretion require the Buyer immediately to provide Credit Support or additional Credit Support acceptable to the Supplier to be provided in a forms specified by the Supplier on terms and in an amount satisfactory to the Supplier, in each case in its sole discretion. The Supplier may suspend supply of Product to the Buyer performance of its obligations until such Credit Support is provided (without limitation to its other rights). 6.4. Without limiting the generality of the above, and notwithstanding any other provision of these GTCs, where the accumulated total of outstanding monies owed by the Buyer (whether under the Agreement or otherwise) and inclusive of excise duty and VAT): i. already exceed the value of the Credit Support held by the Supplier; or the prevailing Credit Limit; or ii. could exceed such Credit Limit or value of that Credit Support if any Order proposed by the Buyer was accepted (and the Goods thereunder were accordingly delivered and invoiced); then for the avoidance of doubt the Supplier shall be entitled to refuse such offer of Orders and to make deliveries under any Order already accepted for such time as any of the afor...
TERMS OF CREDIT. SECTION 3.01.
TERMS OF CREDIT. 6.1. Any proposal is subject to the creditworthiness of the Principal which is established to the satisfaction of the Company. 6.2. Tax invoices will be rendered monthly according to the schedule of works, completed work or on completion of the work and are due for payment in full, unless expressly stated in our billing schedule (clause 14 of this contract), within 30 days or as specified on the Tax Invoice. 6.3. All invoices issued are a payment claim made under the relevant law where such law requires a payment claim, and the Principal warrants that all payments will be made according to this agreement and the Company’s Credit Terms. 6.4. The Company will charge interest at a cumulative rate of 2.0% per month on any Tax Invoice unpaid after 60 days, together with any costs, legal fees, etc. incurred as a consequence of default of the Principal. 6.5. Where payment for invoices is not made in accordance with the Company’s payment terms, projects may be put on hold. Any works completed at that date may be invoiced as ‘work to date’, and project works suspended until overdue accounts are settled. Additional fees for project management may be incurred should a project be put on hold due to failure to pay within terms or any other reason determined by the Company. 6.6. The Company may elect to terminate any contract for services pursuant to this agreement with 30 days’ written notice to the Principal for any breach of this agreement which shall remain unremedied unless some other agreement between the parties provides otherwise (as with an EskDesk contract determinable upon 90 days’ notice). 6.7. All pricing is exclusive of GST unless clearly state otherwise.
TERMS OF CREDIT. 4 (A) The Notes....................................... 4 (B) Interest Rate................................... 4 (C) Prepayment...................................... 7 (D) Fees............................................ 8 (E) Letters of Credit............................... 10 (1) Requests............................... 10 (2)
TERMS OF CREDIT. The following terms apply once credit has been granted: (a) The Customer shall make payment in full of all accounts within 30 days from the last day of the month in which the Supplier’s invoice was issued. The Supplier reserves the right to vary the time period stipulated in this clause or to impose such other terms and conditions as may from time to time be required by the Supplier, with such variations to be set out in writing and form part of this Agreement, as set out in clause 25 below. (b) All prices quoted to the Customer by the Supplier are subject to change without notice. (c) The Customer shall make payment for any Goods ordered by any of its directors, employees or like agents regardless of whether a purchase order was issued and irrespective of the manner in which the order was made, whether in person, by telephone or by other means; (d) The Customer shall make payment for the Goods notwithstanding any minor or inconsequential defects or deviations from the specifications that do not affect the performance of the Goods. (e) All money payable by the Customer under this Agreement shall be paid free and clear of any and all deductions, set-offs or counter-claims. (f) If the Customer defaults in the payment of any account, then: (i) all monies due to the Supplier shall immediately become due and payable; (ii) the Supplier is entitled to charge interest on the overdue amount, at the rate of ten percent (10%) per annum, from the due date for payment, to the date of actual payment; (iii) any expenses, costs or disbursements incurred by the Supplier in recovering any outstanding monies due to the Supplier, or enforcing any of the Terms under this Agreement, or undertaking or exercising any of the rights due to the Supplier under this Agreement or at law, including but not limited to any debt collection agency fees and solicitors’ costs calculated on a solicitor and own client basis, shall be paid by the Customer; (iv) the Supplier shall be entitled to terminate, without notice, any credit arrangement with the Customer;
TERMS OF CREDIT. Any request for credit hereunder shall be made in writing by the Debtor and shall include the following information: the amount of funds being requested, a description of the goods to be purchased, including the purchase price therefor, the selling price of the products to the Debtor’s customer, and the identity and payment history of the customer to which the goods are to be sold. Interest shall accrue on each advance to the Debtor, until paid in full, as follows: at the rate of 2.0% percent per month, until the principal advanced is paid in full. (i) an amount equal to the product of (i) the amount of the payment received and (ii) a fraction, the numerator of which is the purchase price for the subject inventory and the denominator of which is the selling price of the inventory to the Debtor’s customer, plus applicable interest as determined under the Note, shall be applied to payment of interest and principal due under the Note, and (ii) the remaining balance shall be remitted by the Secured Party to the Debtor. For the avoidance of doubt, if (i) Secured Party advances $100,000 to the Debtor for the purchase of inventory, (ii) Debtor sells those products for $140,000, and (iii) Secured Party receives an initial payment of $75,000 from the customer within 30 days, Secured Party would (a) apply $53,571 to principal (representing $100,000/$140,000 X $75,000 = $53,571) (leaving a balance of $46,429 in principal), (b) apply $2,000 to interest ($100,000 X.02 = $2,000 ), and (c) remit $19,429 to the Debtor. Debtor shall use commercially reasonable efforts to cause its customers to make timely payments to Secured Party of all amounts due Debtor on account. Secured Party shall have the right but not the obligation to commence legal action on behalf of Debtor against any customer who fails to make timely payment to Secured Party of amounts due to Debtor. Debtor shall promptly forward to Secured Party any payment that a customer should have sent to Secured Party but mistakenly sent to Debtor. Notwithstanding anything to the contrary herein, the principal amount of an advance hereunder shall be due and payable one hundred twenty (120) days after the date of the advance, whether or not the customer has paid for the goods whose purchase was funded by such advance.
TERMS OF CREDIT. You agree to pay the total amount due as shown on the invoice on or before the 15th of the month following the month in which the purchase was made. Any amount not paid within this time shall be past due and subject to a late charge of 1 1/2% per month or the maximum rate allowed by law, whichever is lower.
TERMS OF CREDIT. If credit is approved by Creditor and credit extended from time to time, any balance owing as of the end of any calendar month is due and payable by the tenth (10th) day of the following calendar month. Interest will be charged on all balances more than 20 days past due at the annual rate of 15%. Any account with a balance more than 20 days past due may be put on COD. All company accounts must be personally guaranteed. The applicant and guarantor authorize periodic credit research. The terms of the account are subject to our posted policy for returned goods. In the event that any check you furnish is not honored by your bank, for any reason, you agree to reimburse us for any expense we incur and pay us $30 for our inconvenience, in each instance. We may in our sole discretion apply payments first to any unpaid interest, and then to the oldest charges owing on the account. In the event that you fail to pay as agreed, the Customer shall be liable for, and shall pay us, all reasonable collection expenses and fees incurred by us, including attorneys fees and expenses. Credit References Bank Name Branch Contact Phone Account # Please list names and addresses of Inventory Suppliers, and other Places of Business which have extended business credit to Applicant: