TERMS OF PAYMENT AND TAXES. Invoices are payable within 30 days of date of invoice and are subject to all applicable government taxes. Invoices exceeding 30 days are subject to an interest charge of 1.5% per month (18% per annum).
TERMS OF PAYMENT AND TAXES. Terms of payment shall be net cash no later than the last day of the month for Newsprint delivered to Purchaser during the previous month. Interest at the rate of either 6% per annum or the “Base Rate” charged from time to time by Citibank, New York, New York, plus 1%, whichever is greater, shall be paid on all amounts remaining unpaid following the due dates. Any taxes, levies, rates, assessments or duties imposed by any governmental authority, other than taxes measured by SP’s profits, which directly or indirectly apply to the Newsprint, shall be paid by Purchaser.
