Common use of The price and Payment Clause in Contracts

The price and Payment. 6.1 The Parties agree that the fee for each year of the License shall be as stipulated in the Subscription Fee table in the applicable Order, and payment is to be made in full within 30 days from receipt of the Licensed Product and invoice from the Licensor. 6.2 If Licensee fails to pay any amounts when due, in addition to any other remedies that Licensor may have, the Licensor, at its discretion, reserves the right to charge interest on the outstanding amounts at the lower of 8% per annum, calculated daily or at the highest rate permitted under applicable local law. The Licensee shall be obligated to reimburse the Licensor for all costs incurred by Licensor in collecting any late payment of amounts due or related interest, including attorneys' fees, court costs and collection agency fees. The Licensor may suspend any technical support and software updates of the Licensed Product to Licensee until payment has been made in full. 6.3 If the scanning capacity and/or Master Server of the Licensed Product is to be increased, the Licensee shall issue a new PO to the Licensor as per the Additional Product fee(s) in the applicable Order. 6.4 Any fees for excessive data and/or additional Target Platforms will be billed on a pro-rata basis from the date the Licensee exceeded the applicable License limits until the end of the term, as demonstrated by the reporting provided quarterly by the Licensee to the Licensor. Invoicing for such excessive License limits will follow the quarterly reporting of such usage.