Payment Terms - Timing Sample Clauses

Payment Terms - Timing. All purchase orders provided by Sigma-Tau, its Affiliates or sublicensees to SPIL pursuant to this Agreement shall be paid for as follows: (a) The purchase price shall be due and paid in cash within sixty (60) days after delivery of the Licensed Product so ordered. (b) Any sums which are not paid when due shall bear a late payment charge equal to the prime rate +2% as published in the Wall Street Journal on the due date of the invoice per annum while the sum remains delinquent; and Sigma-Tau, its Affiliates or sublicensees, as the case may be, shall pay said late payment charge within ten days after a *Certain information on this page has been omitted and filed separately with the commission. Confidential treatment has been requested with respect to the omitted portions.