|
| Contracting for Profit |
 |
|
|
Sophisticated Payment Provision II
|
|
- If any payment under this Contract is due upon the occurrence of an event (e.g.,
shipment date or installation date) and that or any other event is delayed due to any
action or inaction of BUYER including but not limited to nonpayment or a failure to have
the delivery site ready to accept the materials ordered, no such delay(s) shall serve to
relieve BUYER of the obligation to make said payment(s) when due in accordance with the
schedule under this Contract.
- If the final payment under this Contract is stated to be due thirty (30) days after
"installation" of the materials ordered, BUYER agrees that said final payment
shall nonetheless be due and payable thirty (30) days after the time the materials ordered
are installed and operating and BUYER could or is deriving either revenue or use from the
Equipment no matter whether the Equipment meets any applicable specification if
installation services are delayed due to circumstances beyond SELLER's reasonable control.
Failure to make said final payment according to this clause shall be a default of this
Contract.
- Failure to make final payment according to this Contract shall be a default of this
Contract.
|
|
Tarbell-Watters Building, 146 Chestnut Street, Springfield, MA 01103-1539
Telephone (413) 272-2000 Facsimile (413) 272-2010
E-Mail: niclawgrp@niclawgrp.com
Internet: www.niclawgrp.com
|
|
|