Common use of Subsequent Payment Clause in Contracts

Subsequent Payment. For each billing period following the first Billing Period, NORTHSTAR shall pay the full theoretical Hosting Fee in advance, no later than the 20th day of the preceding calendar month. In the event of any late payment, NORTHSTAR shall be liable for a late payment penalty calculated at a rate of 0.1% per day of the overdue amount, subject to a cap of 10% of the total overdue amount