Common use of Due Dates for Payment Clause in Contracts

Due Dates for Payment. Buyer shall pay the undisputed amounts set forth in each monthly invoice, by wire transfer to the accounts designated on the invoice rendered by Seller on or before the later of the following to occur: (i) the tenth (10th) day after receipt by Buyer of the applicable invoice, or (ii) the twentieth (20th) day of the month of such invoice; provided, however, if such due date falls on a day that is not a Business Day, the payment from Buyer shall be received by Seller on the next Business Day following such due date. Bills or portions of bills which are not paid by the due date shall thereafter accrue interest at the Interest Rate, from and including the date payment was due until the date such payment is made.

Due Dates for Payment. Buyer shall pay the undisputed amounts set forth in each monthly invoice, less the amount of any Forecasting Penalties and Reductions, by wire transfer to the accounts designated on the invoice rendered by Seller on or before the later of the following to occur: (i) the tenth (10th) day after receipt by Buyer of the applicable invoice, or (ii) the twentieth (20th) day of the month of such invoice; provided, however, if such due date falls on a day that is not a Business Day, the payment from Buyer shall be received by Seller on the next Business Day following such due date). Bills or portions of bills which are not paid by the due date shall thereafter accrue interest at the Interest Rate, from and including the date payment was due until the date such payment is made.