PROCESSING FEE AND PAYMENT Clause Samples

PROCESSING FEE AND PAYMENT. 5.1 The Processing Fee payable to Mach One for Processing each Batch of NSL's Product is specified as follows: 5.1.1 The Raw Materials that are ordered by Mach One are part of the Processing Fee. Raw Materials purchased by Mach One and used in the Processing of each Batch will be invoiced as part of the cost hereunder. Mach One will forward originals of receiving documents to NSL and will provide NSL such quality control documentation that accurately tracks all accepted and/or rejected materials so that NSL may track the associated invoices and/or credits from the supplying vendor. 5.1.2 The price per Batch for Processing each Product will be Mach One's Cost of Manufacturing such Product plus Mach One’s Raw Material Cost plus the Margin on the total thereof. 5.2 Mach One shall invoice NSL for the full Processing Fee on a monthly basis. All invoices shall be due and payable within thirty (30) calendar days after receipt of the invoice by NSL If NSL disagrees for any reason with the amount of an invoice submitted by Mach One, NSL shall notify Mach One in writing of such disagreement within thirty (30) calendar days of receipt of such invoice, and the Parties shall promptly attempt to resolve the difference. Mach One shall reference NSL's Purchase Order on all invoices. 5.3 Mach One shall keep full and true books of account and other records in sufficient detail so that the Processing Fee payable to Mach One hereunder can be properly ascertained. Mach One agrees, at the request of and expense of NSL, to permit an independent certified public accountant selected by NSL (except one to whom Mach One has some reasonable objection) to have access, during ordinary business hours, to such books and records as may be necessary to determine in respect of invoices for Product delivered not more than two (2) years prior to the date of such request the correctness of any determination of the Processing Fee for the Product contained in such invoice, but in no event shall any invoice be subject to such accountant's determination more than once. The basis for any determination of such accountant shall be made available for review and comment by Mach One and reconsidered if Mach One so requests, and if the parties do not agree as to the determination of such Processing Fee, a further determination shall be made at Mach One's expense by another internationally recognized independent certified public accountant selected by NSL from among three proposed by Mach One and such acc...