With regard to payment of the price for Goods, time is of the essence. Seller may,
without prejudice to any other rights of Seller, charge interest on any overdue
payment at the higher rate of either twelve percent (12%) per annum or one and a
half times the prevailing rate under applicable law per annum, but not to exceed the
maximum interest rate permitted under applicable law, from the due date computed
on a daily basis until all amounts outstanding are paid in full. All costs and expenses
incurred by Seller with respect to collection of overdue payments (including, without
limitation, reasonable attorney’s fees, expert fees, court costs and other expenses
of litigation) shall be for Customer’s account.