Common use of Purchasing Clause in Contracts

Purchasing. Owner does hereby employ Devoto as its sole and exclusive purchasing agent for the specialty items necessary to equip a radiation therapy center, which specialty items anticipated to be purchased in connection with the Project is more particularly described in the schedule attached as Exhibit “A” attached hereto and made a part hereof. Such specialty items shall be purchased for Owner by Devoto upon a schedule to be determined by Owner and Devoto. Owner shall pay the actual cost of such specialty items as negotiated by Devoto and shall further pay to Devoto a transaction fee on each item of specialty items so purchased by Devoto of 20% of the actual cost of same. Additionally, Owner shall pay all sales and use taxes imposed on any such specialty items in connection with the original purchase thereof, as well as all shipping and handling charges for such specialty items. Such specialty items shall be deemed to be sold directly to Owner, and Devoto shall not be deemed an owner thereof. Devoto’s compensation is for consulting services rendered in connection with the selection of such specialty items, arranging the purchase of same from vendors with whom Devoto has established relationships, delivery of such specialty items and overseeing the installation of same. Devoto’s fees for such services shall be invoiced to Owner upon the ordering of any such specialty items on Owner’s behalf pursuant to the terms hereof and shall be payable by Owner to Devoto within thirty (30) days of the date of each such invoice. Invoices not paid within such thirty (30) day time period shall bear interest at the lesser of 18% or the maximum contract rate of interest allowed by law.