Common use of Payments Hereunder Clause in Contracts

Payments Hereunder. All payments due under this Agreement shall be payable in United States dollars ($). Conversion of foreign currency to U.S. dollars shall be made at the same conversion rate as that which is used in Buyer’s general ledger for that time period so long as that rate is reasonable. Each payment shall reference this Agreement and identify the obligation under this Agreement that the payment satisfies. Buyer shall be entitled to withhold and deduct any and all mandatory payments, taxes, duties and the like for which Seller is liable and which Buyer is required to withhold or deduct under applicable Law. Any payments by Buyer that are not paid on or before the date such payments are due under this Agreement shall bear interest, to the extent permitted by Law, at one percentage point above the Prime Rate reported on the date payment is due. Any payment due hereunder on a day that is not a Business Day shall be made on the first Business Day thereafter.

Payments Hereunder. All payments due under this Agreement shall be payable in United States dollars ($). Conversion of foreign currency to U.S. dollars shall be made at the same conversion rate as that which is used in Buyer’s general ledger for that time period so long as that rate is reasonable. Each payment shall reference this Agreement and identify the obligation under this Agreement that the payment satisfies. Buyer shall be entitled to withhold and deduct any and all mandatory payments, taxes, duties and the like for which Seller is liable and which Buyer is required to withhold or deduct under applicable Law. Any payments by Buyer that are not paid on or before the date such payments are due under this Agreement shall bear interest, to the extent permitted by Law, at one percentage point above the Prime Rate reported on the date payment is due. Any payment due hereunder on a day that is not a Business Day shall be made on the first Business Day thereafter.