Day Net definition
Examples of Day Net in a sentence
On the ninety fifth (95) day after the Closing Date, the Buyer shall prepare and deliver to the Seller (i) a statement that sets forth the Net Accounts Receivable on the ninety (90) day after the Closing Date ("90th Day Net Accounts Receivable”), using the same calculation method applied to the calculation of the Net Accounts Receivable of the Closing Date as set forth in Exhibit 1.1(A); and (ii) the supporting documentation (“Accounts Receivable Statement”).
For example if a MMCAP Member State has a monthly purchase volume of between $2 and $5 million, a Participating Facility of that state with payment terms of 30 Day Net pay would receive a service fee discount of -4.54% (-4.44+-0.10).
Payment after designated time period is agreed by both parties, that invoice will revert back to a 30 Day Net and any discounts are removed and a full price rental will apply.