Common use of Payment and Credit Clause in Contracts

Payment and Credit. Payment terms shall be as established by the Company from time to time as mentioned in the Contract. If the Buyer fails to pay for any one or more installments of the Price when due, or if the Buyer's financial worthiness, becomes unsatisfactory to the Company, then the Company shall have the right, in addition to other remedies available to it under the Terms and Conditions or the Contract, to (a) suspend or cancel further deliveries, (b) require immediate cash payment for further deliveries, or (c) require satisfactory security before proceeding with further deliveries. Any amounts past due over thirty days will accrue interest from their due date at the higher of (a) 6% per annum or (b) the maximum rate permitted under applicable law. The Company will invoice the Buyer for and in respect of each sale and individual consignment of the Products delivered under each Order via regular mail, electronic mail or by any other electronic means. Any invoice not objected to by the Buyer in writing within one month of shipment will be deemed to be an undisputed invoice. The Price of each delivery shall be payable by the Buyer as directed in writing by the Company or as specifically mentioned in the Order. The Price of the Products shall be due and payable within 30 days after the date of invoice. The Buyer has no right to set-off against any amount due to the Buyer from the Company or any affiliated company of the Company. The payment is not deemed to be received unless it has been received in cleared funds. No partial payment by the Buyer shall constitute an accord and satisfaction or otherwise satisfy the entire outstanding balance of any invoice of the Company, notwithstanding any notation or statement accompanying that payment. Notwithstanding anything set out above, the Company reserves the right, with due intimation to the Buyer, to vary the agreed payment terms and/or to cancel or change any credit arrangements or terms granted to the Buyer. Buyer shall reimburse the Company for the cost of collection, including, without limitation, reasonable attorney’s fees, of any overdue amount owed by Buyer to the Company. Buyer may not hold back or set-off any amounts owed to the Company in satisfaction of any claims asserted by Buyer against the Company.

Payment and Credit. Payment terms shall be as established by the Company from time to time as mentioned in the Contract. If the Buyer fails to pay for any one or more installments of the Price when due, or if the Buyer's financial worthiness, becomes unsatisfactory to the Company, then the Company shall have the right, in addition to other remedies remedies, available to it under the Terms and Conditions or the Contract, to (a) suspend or cancel further deliveries, (b) require immediate cash payment for further deliveries, or (c) require satisfactory security before proceeding with further deliveries. Any amounts past due over thirty days will accrue interest from their due date at the higher of (a) 6% per annum or (b) the maximum rate permitted under applicable law. The Company will invoice the Buyer for and in respect of each sale and individual consignment of the Products delivered under each Order via regular mail, electronic mail or by any other electronic means. Any invoice not objected to by the Buyer in writing within one month of shipment will be deemed to be an undisputed invoice. The Price of each delivery shall be payable by the Buyer as directed in writing by the Company or as specifically mentioned in the Order. The Price of the Products shall be due and payable within 30 the agreed days after the date receipt of invoice. The Buyer has no right to set-off against any amount due to the Buyer from the Company or any affiliated company of the Company. The payment is not deemed to be received unless it has been received in cleared funds. No partial payment by the Buyer shall constitute an accord and satisfaction or otherwise satisfy the entire outstanding balance of any invoice of the Company, notwithstanding any notation or statement accompanying that payment. Notwithstanding anything set out above, the Company reserves the right, with due intimation to the Buyer, to vary the agreed payment terms and/or to cancel or change any credit arrangements or terms granted to the Buyer. Buyer shall reimburse the Company for the cost of collection, including, without limitation, reasonable attorney’s fees, of any overdue amount owed by Buyer to the Company. Buyer may not hold back or set-off any amounts owed to the Company in satisfaction of any claims asserted by Buyer against the Company.

Payment and Credit. Payment terms shall be as established by the Company from time to time as mentioned in the Contract. If the Buyer fails to pay for any one or more installments of the Price when due, or if the Buyer's financial worthiness, becomes unsatisfactory to the Company, then the Company shall have the right, in addition to other other. remedies available to it under the Terms and Conditions or the Contract, to (a) suspend or cancel further deliveries, (b) require immediate cash payment for further deliveries, or (c) require satisfactory security before proceeding with further deliveries. Any amounts past due over thirty days will accrue interest from their due date at the higher of (a) 6% per annum or (b) the maximum rate permitted under applicable law. The Company will invoice the Buyer for and in respect of each sale and individual consignment of the Products delivered under each Order via regular mail, electronic mail or by any other electronic means. Any invoice not objected to by the Buyer in writing within one month of shipment will be deemed to be an undisputed invoice. The Price of each delivery shall be payable by the Buyer as directed in writing by the Company or as specifically mentioned in the Order. The Price of the Products shall be due and payable within 30 days after the date of invoice. The Buyer has no right to set-off against any amount due to the Buyer from the Company or any affiliated company of the Company. The payment is not deemed to be received unless it has been received in cleared funds. No partial payment by the Buyer shall constitute an accord and satisfaction or otherwise satisfy the entire outstanding balance of any invoice of the Company, notwithstanding any notation or statement accompanying that payment. Notwithstanding anything set out above, the Company reserves the right, with due intimation to the Buyer, to vary the agreed payment terms and/or to cancel or change any credit arrangements or terms granted to the Buyer. Buyer shall reimburse the Company for the cost of collection, including, without limitation, reasonable attorney’s fees, of any overdue amount owed by Buyer to the Company. Buyer may not hold back or set-off any amounts owed to the Company in satisfaction of any claims asserted by Buyer against the Company.

Payment and Credit. Payment terms shall be as established by the Company from time to time as mentioned in the Contract. If the Buyer fails to pay for any one or more installments of the Price when due, or if the Buyer's financial worthiness, becomes unsatisfactory to the Company, then the Company shall have the right, in addition to other remedies remedies, available to it under the Terms and Conditions or the Contract, to (a) suspend or cancel further deliveries, (b) require immediate cash payment for further deliveries, or (c) require satisfactory security before proceeding with further deliveries. Any amounts past due over thirty agreed credit days will accrue interest from their due date at the higher current lending rate reference of (a) 6% per annum or (b) the maximum rate permitted under applicable lawcompany’s bank. The Company will invoice the Buyer for and in respect of each sale and individual consignment of the Products delivered under each Order via regular mail, electronic mail or by any other electronic means. Any invoice not objected to by the Buyer in writing within one month of shipment will be deemed to be an undisputed invoice. The Price of each delivery shall be payable by the Buyer as directed in writing by the Company or as specifically mentioned in the Order. The Price of the Products shall be due and payable within 30 the agreed days after the date receipt of invoice. The Buyer has no right to set-off against any amount due to the Buyer from the Company or any affiliated company of the Company. The payment is not deemed to be received unless it has been received in cleared funds. No partial payment by the Buyer shall constitute an accord and satisfaction or otherwise satisfy the entire outstanding balance of any invoice of the Company, notwithstanding any notation or statement accompanying that payment. Notwithstanding anything set out above, the Company reserves the right, with due intimation to the Buyer, to vary the agreed payment terms and/or to cancel or change any credit arrangements or terms granted to the Buyer. Buyer shall reimburse the Company for the cost of collection, including, without limitation, reasonable attorney’s fees, of any overdue amount owed by Buyer to the Company. Buyer may not hold back or set-off any amounts owed to the Company in satisfaction of any claims asserted by Buyer against the Company.

Payment and Credit. Payment terms shall be as established by the Company from time to time as mentioned stated in the Contract. If for any reason the Price cannot be determined, the Buyer fails to pay for any one or more installments of the Price when due, or if the Buyer breaches any term of the Contract, and/or the Buyer's financial worthiness, worthiness becomes unsatisfactory to the Company, then the Company shall have the right, in addition to all other remedies available to it under the Terms and Conditions Contract or the Contractat law or in equity, to (a) suspend or cancel further deliveries, (b) require immediate cash payment for further deliveries, or (c) require satisfactory security before proceeding with further deliveries, (d) have any vessel wait at the discharge port without discharging the Products, (e) divert any vessel, and/or (f) sell the Products to any other party. All costs and/or damages incurred by the Company in taking any such steps shall be for the account of the Buyer. Any amounts past due over thirty days will accrue interest from their due date at the higher of (a) 68% per annum or (b) the maximum rate permitted under applicable law. The Company will invoice the Buyer for and in respect of each sale and individual consignment of the Products delivered under each Order via regular mail, electronic mail or by any other electronic means. Any invoice not objected to by the Buyer in writing within one month 30 (thirty) days of shipment will be deemed to be an undisputed invoice. The Price of each delivery shall be payable by the Buyer as directed in writing by the Company or as specifically mentioned stated in the OrderContract. The Unless otherwise directed in writing by the Company or specifically stated in the Contract, the Price of the Products shall be due and payable within 30 days after the date of invoice. The Buyer has no right to set-off against any amount due or alleged to be due to the Buyer from the Company or any affiliated company of the Company. The payment is not deemed to be received unless it has been received in cleared funds. No partial payment by the Buyer shall constitute an accord and satisfaction or otherwise satisfy the entire outstanding balance of any invoice of the Company, notwithstanding any notation or statement accompanying that payment. Notwithstanding anything set out above, the Company reserves the right, with due intimation to the Buyer, to vary the agreed payment terms and/or to cancel or change any credit arrangements or terms granted to the Buyer. The Buyer shall reimburse the Company for the cost of collection, including, without limitation, reasonable attorney’s 's fees, of any overdue amount owed by the Buyer to the Company. The Buyer may not hold back or set-off any amounts owed to the Company in satisfaction of any claims asserted by the Buyer against the Company or any affiliated company of the Company.

Payment and Credit. Payment terms shall be as established by the Company from time to time as mentioned in the Contract. If the Buyer fails to pay for any one or more installments of the Price when due, or if the Buyer's financial worthiness, becomes unsatisfactory to the Company, then the Company shall have the right, in addition to other remedies available to it under the Terms and Conditions or the Contract, to (a) suspend or cancel further deliveries, (b) require immediate cash payment for further deliveries, or (c) require satisfactory security before proceeding with further deliveries. Any amounts past due over thirty days will accrue interest from their due date at the higher rate of (a) 624% per annum or (b) the maximum rate permitted under applicable lawannum. The Company will invoice the Buyer for and in respect of each sale and individual consignment of the Products delivered under each Order via regular mail, electronic mail or by any other electronic means. Any invoice not objected to by the Buyer in writing within one month 8 days from the date of shipment receipt of the invoice will be deemed to be an undisputed invoice. The Price of each delivery shall be payable by the Buyer as directed in writing by the Company or as specifically mentioned in the Order. The Price of the Products shall be due and payable within 30 days after the date of invoice. The Buyer has no right to set-set- off against any amount due to the Buyer from the Company or any affiliated company of the Company. The payment is not deemed to be received unless it has been received in cleared funds. No partial payment by the Buyer shall constitute an accord and satisfaction or otherwise satisfy the entire outstanding balance of any invoice of the Company, notwithstanding any notation or statement accompanying that payment. Notwithstanding anything set out above, the Company reserves the right, with due intimation to the Buyer, to vary the agreed payment terms and/or to cancel or change any credit arrangements or terms granted to the Buyer. Buyer shall reimburse the Company for the cost of collection, including, without limitation, reasonable attorney’s fees, of any overdue amount owed by Buyer to the Company. Buyer may not hold back or set-off any amounts owed to the Company in satisfaction of any claims asserted by Buyer against the Company.

Payment and Credit. Payment terms shall be as established by the Company from time to time as mentioned in the Contract. If the Buyer fails to pay for any one or more installments of the Price when due, or if the Buyer's financial worthiness, becomes unsatisfactory to the Company, then the Company shall have the right, in addition to other remedies available to it under the Terms and Conditions or the Contract, to (a) suspend or cancel further deliveries, (b) require immediate cash payment for further deliveries, or (c) require satisfactory security before proceeding with further deliveries. Any amounts past due over thirty days will accrue interest from their due date at the higher rate of (a) 624% per annum or (b) the maximum rate permitted under applicable lawannum. . The Company will invoice the Buyer for and in respect of each sale and individual consignment of the Products delivered under each Order via regular mail, electronic mail or by any other electronic means. Any invoice not objected to by the Buyer in writing within one month 8 days from the date of shipment receipt of the invoice will be deemed to be an undisputed invoice. The Price of each delivery shall be payable by the Buyer as directed in writing by the Company or as specifically mentioned in the Order. The Price of the Products shall be due and payable within 30 days after the date of invoice. The Buyer has no right to set-set- off against any amount due to the Buyer from the Company or any affiliated company of the Company. The payment is not deemed to be received unless it has been received in cleared funds. No partial payment by the Buyer shall constitute an accord and satisfaction or otherwise satisfy the entire outstanding balance of any invoice of the Company, notwithstanding any notation or statement accompanying that payment. Notwithstanding anything set out above, the Company reserves the right, with due intimation to the Buyer, to vary the agreed payment terms and/or to cancel or change any credit arrangements or terms granted to the Buyer. Buyer shall reimburse the Company for the cost of collection, including, without limitation, reasonable attorney’s fees, of any overdue amount owed by Buyer to the Company. Buyer may not hold back or set-off any amounts owed to the Company in satisfaction of any claims asserted by Buyer against the Company.