Common use of Invoice Aging Clause in Contracts

Invoice Aging. No BFA Recipient nor BFA, on behalf of any BFA Recipient, will be required to pay any invoices issued by State Street or any third party more than three (3) months after the month on which the fees owed thereunder have accrued. Notwithstanding the foregoing, for any Services provided by any Subcontractor that is not an Affiliate of State Street, such three-month period shall not begin until State Street receives the invoice from the applicable Subcontractor, but in no event will a BFA Recipient or BFA, on behalf of a BFA Recipient, be required to pay any invoices issued by State Street or any third party for such Subcontractor services more than fifteen (15) months after the month on which the fees accrued.