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9.1
9.2
9.3
ARTICLE 9
PAYMENT AND PAYMENT CONDITIONS
Payment of the total launch service price set forth in Article 8 of this Contract and any other payments to be made to CGWIC in connection with this Contract shall be made in United States Dollars (being the lawful currency of the United States of America).
The Client shall pay ten percent (10%) of the Fixed Launch Service Fee (less
as provided below) to CGWIC on or before January 15, 1989, by telegraphic bank transfer into CGWIC's account No. 71401220 with Bank of China, Beijing Head Office.
The said ten percent (10%) shall be reduced by the launch reservation fee of
which was paid to CGWIC by the Client pursuant to the Launch Opportunity Reservation Agreement referred to in the Recitals hereto and the said sum shall be deemed received by CGWIC as payment towards the Fixed Launch Service Fee.
The balance of the Fixed Launch Service Fee shall be paid to CGWIC by telegraphic bank transfer in the following installments and at the following times, namely:
Due Date for Payment
Percentage of Fixed Launch Service Fee
1
March 1, 1989
20%
June 1, 1989
20%
September 1, 1989
20%
December 1, 1989
20%
Launch Day
10%
9.4
provided, however, that such due dates may be deferred pursuant to the provisions of Paragraph 10.6 hereof.
CGWIC shall, not later than 7 days before the due date of any installment under this Contract, give notice to Client in writing of the said due date and of the bank account or accounts to which the payment shall be remitted if such account is different from the account specified in Paragraph 9.8.
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