Common use of Terms of Payment and Billing Clause in Contracts

Terms of Payment and Billing. a) In compliance with the Business Terms, the Subject of Settlement is obligated, within 10 days after this Agreement has come into force, to establish with its account maintained by a bank or its branch in the territory of the Czech Republic cash collection rights for the Market Operator and its accounts listed under Article 1 of this Agreement, and to provide the Market Operator with proof of having established these rights. The Market Operator holds the rights to collect cash from the Subject of Settlement’s account with the aim to secure due payments from the Subject of Settlement pursuant to Article 5 of this Agreement and to letter b) of Article 7 of this Agreement.

Terms of Payment and Billing. a) In compliance with the Business Terms, the Subject of Settlement is obligated, within 10 days after this Agreement has come into force, to establish with its account maintained by a bank or its branch in the territory of the Czech Republic cash collection rights for the Market Operator and its accounts listed under Article 1 of this Agreement, No. 19-5582760247/0100 and 27-5868540207/0100 and to provide the Market Operator with proof of having established these rights. The Market Operator holds the rights to collect cash from the Subject of Settlement’s account with the aim to secure due payments from the Subject of Settlement pursuant to Article Articles 4 and 5 of this Agreement and to letter b) of Article 7 of this Agreement.