Payment Rule Clause Samples
A Payment Rule clause defines the terms and conditions under which payments must be made between parties in a contract. It typically specifies the amount, timing, method, and currency of payments, as well as any invoicing requirements or procedures for handling late payments. For example, it may require payment within 30 days of receiving an invoice or outline penalties for delayed payments. The core function of this clause is to ensure both parties have a clear understanding of their financial obligations, reducing the risk of disputes and facilitating smooth financial transactions.
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Payment Rule. Unless otherwise agreed herein, all payments under this Agreement shall be made within [***] days after receipt of a correct invoice that is compliant with this Agreement.
Payment Rule. If an Employee takes compassionate leave during a period, the Employee must be paid a rate for each hour (pro-rated for part hours) of compassionate leave taken that is no less than the rate that, immediately before the period begins, is the Employee's basic periodic rate of pay (expressed as an hourly rate).
Payment Rule. If the terms for a particular payment are not otherwise set out in this Agreement, such payment shall be made by Bayer according to the following rule: If invoices are received by Bayer at the address set forth in this Section 7.14.4 by the [***] day of the current month, then payments shall be made by the [***] day of the [***]. If invoices are received by Bayer at the below address after the [***] day [***], then payments shall be made by the [***] day of the [***]. For example, if Isis submits an invoice to Bayer and such invoice is received by Bayer on [***], then Bayer will pay such invoice by [***]. All invoices referred to in this ARTICLE 7 shall be made in compliance with Applicable Law. All invoices shall be sent to the following address: Bayer Pharma AG Rechnungseingangsstelle ▇/▇ [***] ▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇
Payment Rule. All payments shall be made by Bayer within thirty (30) days of the date of receipt of invoice. Daré shall issue invoices for the Up Front License Fee and Clinical Trials and Manufacturing Activities Fee at Bayer’s request. 9.5.3 Invoice Address. All invoices to Bayer shall be sent to the following address: Bayer HealthCare Pharmaceuticals [***] Alternatively, each invoice for payments may be sent electronically in portable document format (pdf) via email without electronic signature (“pdf-invoicing”), thus replacing a corresponding paper form. 9.5.4
Payment Rule. All payments shall be made by BAYER within [****] days after receipt of the respective invoice by BAYER.
Payment Rule. All payments (other than the upfront payment described in Section 8.1) under this Agreement by Bayer will be made according to the following rule: If correct invoices are received by Bayer at the below address no later than the 15th day of the current month, then payments shall be made no later than the 16th day of the month immediately following the month in which the invoice was received. If invoices are received by Bayer at the below address after the 15th day of the current month, then payments shall be made no later than the 2nd day of the second month following the month in which the invoice was received.
Payment Rule. In accordance with the aforementioned law of 1 April 2007, the Committee will decide whether an event satisfies the definition of terrorism. To ensure that the amount mentioned in this article is not exceeded, the Committee will decide, by the latest 6 months after the event, on the percentage of the compensation to be paid out by NN Non-Life Insurance nv following the event. The Committee can review such percentage. By the latest on 31 December of the third year following the year of the event, the Committee will take a final decision with regard to the percentage of compensation to be paid out. The insured or the beneficiary (ies) can only claim compensation from NN Non-Life Insurance nv after the Committee has fixed the percentage. NN Non-Life Insurance nv will pay out the insured amount in accordance with the percentage fixed by the Committee. In derogation from the above, if another percentage is stipulated by royal decree, NN Non-Life Insurance nv will pay out such other percentage. If the Committee lowers the percent- age, the lower compensation amount will not apply for compensation already paid out, nor for any compensation decisions which NN Non-Life Insurance nv has already notified to the insured or beneficiary(ies). If the Committee increases the percentage, the higher amount of compensation will apply for all claims filed following the event recognised as terrorism.