Delivery, Testing, and Payment Clause Samples

Delivery, Testing, and Payment. LST shall set forth in each purchase order sent to TUI the number of units requested (which shall not exceed thirty (30) units), their requested delivery date(s) and delivery destinations for ordered Lasers, which delivery date will not be less than sixty (60) days from the date of the purchase order. TUI shall invoice LST for each order for Lasers upon delivery, as defined in Section 4.1, of such Lasers to LST. LST shall have the right to accept or reject any Laser based upon acceptance testing as described in Exhibit 3.2 ("Product Acceptance"). LST shall notify TUI in writing of Product Acceptance or rejection within fourteen (14) days after delivery. All invoices shall be due thirty (30) days after written notification of Product Acceptance. If LST fails to make a required payment to TUI on or before ninety (90) days from the due date, then TUI shall have the right to charge a late fee on such amount at the rate of 1.5% per month commencing on such ninetieth (90th) day until such invoice is paid in full.