Common use of Specific Payment Terms Clause in Contracts

Specific Payment Terms. 7.2.1 Advance Payment Customer agrees to remit, a non-refundable advance payment of 10% of the total amount of each Initial System's Purchase Order, on the same date such Purchase Order is placed. The start date for the Implementation Schedule shall be the date of receipt of this payment. Each advance payment shall be made by wire/telegraphic transfer to the following address: Citibank, New York Routing No.: ▇▇▇▇▇▇▇▇▇ Account No.: ▇▇▇▇▇▇▇▇ In the event Customer does not proceed with its obligations set forth in 7.1.1, under this Agreement (subject to Section 18) in a timely manner, and such failure continues for thirty (30) days following written notice by Motorola to Customer that Motorola intends to proceed under this Section, Motorola shall promptly document its non-recoverable costs directly incurred in the performance of this Agreement, such as, but not limited to staff hours, travel expenses, equipment re-stocking charges, etc. In the event such non-recoverable costs exceed the amount of the advance payment, Customer will pay Motorola the difference. 7.2.2 Payment of Balance Due Customer shall be invoiced seventy percent (70%) of the Commercial invoice gross value of Equipment on shipment. Fifteen percent (15%) of the commercial invoice gross value of Equipment is due upon Conditional Acceptance and the five percent (5%) balance due upon Final Acceptance. Services and Training balances are invoiced upon completion.