Lease-To-Own Payment Option Sample Clauses

Lease-To-Own Payment Option. When the Lease-to-Own purchase option is selected for applicable collections, the total fee will reflect the purchase price plus a modest convenience charge. This total fee will be invoiced in three equal annual installments, with an invoice to the Consortium for the first annual installment generated upon receipt of confirmed order. Payment on the initial installment invoice must be received by JHUP within 60 days of receipt, or access to content from the UPCC Book Collection(s) on that invoice will be disabled. Access to ebook content will be re-enabled only upon receipt of full payment of any outstanding invoices. The second annual installment fee will be invoiced no later than 10 months from the date of initial invoice, with payment due within 60 days of receipt. The third annual installment fee will be invoiced no later than 10 months from the date of second installment invoice, with payment due within 60 days of receipt. If payment is not received within 90 days of the date of any installment invoice, access to content on that invoice will be disabled, and will be re-enabled only upon receipt of full payment of any outstanding invoices. Upon receipt of payment totaling the amount of all three invoices, perpetual access rights are granted to the Participating Member. Payment of the total fee, including both the purchase price and convenience charge, must be made in full, or no perpetual access rights convey and the Participating Member will lose access to the content. Early payment of future installments is allowed; there is no penalty, nor any credit, for early payment.