Common use of Date Due Clause in Contracts

Date Due. No later than thirty (30) days after the receipt of the MIR and all information necessary to perform the settlement as described in Exhibit K (Settlement), Company shall pay, in immediately available funds, the payment owed computed as set forth in said Exhibit K (Settlement) or provide to Supplier an itemized statement of its objections to all or any portion of the MIR and pay any undisputed amount. If any payments are made after the date due as described in the foregoing sentence, Company shall also include interest on such payments, which shall be computed at the average Prime Rate for the period between the date due and the date of payment. Notwithstanding the foregoing, the time in which Company must make payment to Supplier shall be increased on a Business Day-for-Business Day basis for each Business Day that Supplier is delinquent in providing to Company the MIR or any information necessary to perform the settlement.