Common use of Expenses and Costs Clause in Contracts

Expenses and Costs. Except as otherwise approved by Acquisition in writing or specifically provided in other sections of this Agreement, all taxes, insurance, postage, travel and shipping costs as well as travel and per diem costs incurred by Binary in conjunction with this Agreement shall be paid by Acquisition. Binary Spectrum may also develop additional modules and perform product management skills at additional development fees in time and material management basis at a rate of forty dollars ($40) per hour. An additional fee of Two Hundred Thousand and 00/100 Dollars ($200,000) shall be paid by Acquisition for Support and Maintenance. Acquisition will also pay all applicable Value added or Sales taxes or similar charges relating to the software and services as provided under this Agreement. All services related payments are due immediately upon receipt by Acquisition of an invoice from Binary. Payment of all applicable fees is a pre-requisite to the renewal of the Term of this Agreement. All payments under this Agreement shall be made in U.S. dollars. All sums due and payable under this Agreement that remain unpaid after thirty (30) days from the date on which Acquisition receives the corresponding invoice from Binary will accrue interest at a rate of one and a half percent (1.5%) per month or the maximum amount allowed by law, whichever is less.