The reprimand party hereby represents and warrants that the agreement and the payment plan included there there in it have been developed in a manner in which the reprimand party reasonably believes that it can pay the portion due without further interruption, despite further modification of circumstances. In the event that the accused party fails to make payments in accordance with the payment plan, the total amount of the default is due and payable immediately after ten (10) days after the failure to make such mandatory payment. The due party may assign this Agreement by written notice to the liable party. In the case of such an assignment, the assignee may define a new method of payment. CONSIDERING that the guilty party and the due party wish to enter into an agreement under which the offending party pays the due party the sum of the default of a payment plan, in accordance with the conditions set out therein. The Parties approve the payment plan as described in Appendix A of the Annex (the “Payment Plan”). The responsible party undertakes to make payments to the party due that are linked to the data contained in the payment plan. This payment agreement is concluded from [date] by and between [Client.Company] having its registered office in [the customer`s address] (the “responsible party”) and [sender. Company] having its registered office in [the sender.
Address] (the “Due Party”) who both agree to be bound by this Agreement. In the event of any invalidity, illegality or application of any provision of this Agreement for any reason, the Parties agree that such provision shall be deemed to be deleted and that the remainder of the Agreement shall be applied as if the deleted provision had never been included in the Agreement. This Agreement and the interpretation of its terms shall be governed by the laws of the State and shall be subject to the exclusive jurisdiction of the federal courts and the courts of [County], [State]. Payments shall be made to the party due in accordance with the payment plan by [payment method]. The guilty party agrees and acknowledges that it owes the party due a sum of money corresponding to the default defined above. Nothing in this payment agreement shall constitute a waiver of the sums due and, in the event of a breach of this agreement by the culpability party, the rights of the party due shall not be limited to the failure to act. NOW, taking into account the mutual agreements and promises that have been made by the parties, the indebted party and the due party (individually, a “party” and together the “parties”) and agree as follows: [Client.First Name] [Client.Last Name][Client.Company] CONSIDERING that the indebted party owes [the amount due] to the party due (the “default”); and no modification of this Agreement is valid unless agreed in writing and by both parties. In consideration for acceptance of this Payment Agreement, the due party releases all claims against the culpable party in connection with the default at the time of this Agreement. However, nothing in that agreement is intended to relieve the guilty party of its obligation to pay for default in accordance with the payment plan included therein or to restrict the rights of the party due in the recovery of that irregularity. IN WITNESS WHEREOF, each of the Parties has performed this Agreement, both Parties by the in-between by the in-between, by the in-between, from the day and year listed below. .