9.5
9.6
9.7
9.8
9.9
Charges additional to the Fixed Launch Service Fee shall be paid by telegraphic bank transfer as follows: (a) any escalation charges shall be paid not later than the Launch Day or 7 days after CGWIC's notice to Client in writing of the amount due, whichever is later;
(b) all postponement fees payable to CGWIC pursuant to
Article 10 hereof shall be payable on or before the Launch Day; and
(c) in respect of Optional Services, all charges shall be payable within fifteen (15) days after Client's receipt of CGWIC's notification for payment thereof. Any additional amounts payable as a consequence of the election or change by the Client of an option under Paragraph 11.2(a) hereof shall be paid by telegraphic bank transfer at least 90 days before the first day of the Launch Slot or if the Fixed Launch Service Fee is reduced as a consequence of a change of election, then the amount payable on the due date listed in Paragraph 9.3 next-following such change of election shall be reduced by the amount of said reduction.
All payments made by Client shall be made free and clear of any and all taxes, duties, banking charges or any other expenses or withholding (other than any tax, duty, banking charge or other expense or withholding made by or on behalf of the Chinese Government or any ministry or department thereof or by or on behalf of the bankers of CGWIC) so that CGWIC receives each such payment in full as if no such tax, duty, banking charge, expense or withholding had been made (other than as excepted above).
All payments to be made by telegraphic bank transfer hereunder shall be made to CGWIC's Account No. 71401220 with the Bank of China, Beijing Head Office unless otherwise advised by notice in writing given by CGWIC pursuant to Paragraph 9.4 above.
In the event that any payment due hereunder is not paid on the due date therefor, the Client shall pay interest to CGWIC for the period of delay at the then-current LIBOR rate for call deposits of United States Dollars as quoted by The Hongkong and Shanghai Banking Corporation, Hong Kong as prevailing on each date for which the default in payment continues plus
16
As