These excerpts taken from the AAPL 10-K filed Dec 19, 2003.
PRICES AND PAYMENT
6.1 Prices for Products shall be as determined between IBM and Apple. Apple or IBM will notify Designee of the price of each Product Designee is authorized to purchase.
6.2 Invoices and Payments. IBM or its Plant shall invoice the Designee after the Products have been shipped, or the Services provided. Payment will be due within thirty (30) days after the date of invoice. Late payment of invoices may be assessed a charge equal to the lesser of one
[**] = information redacted pursuant to a confidential treatment request. Such omitted information has been filed
separately with the Securities and Exchange Commission.
and one-half percent (1.5%) per month or the statutorily maximum rate of interest in accordance with the laws of the State of New York. In addition, if a Designees account balance exceeds Apples credit limit with IBM, or becomes delinquent, IBM may stop shipments to the Designee or ship on a prepaid basis until the account is compliant.
6.1 Prices for Products shall be as
6.2 Invoices and Payments. IBM or its Plant shall invoice the Designee
[**] = information redacted pursuant to a confidential
separately with the Securities and Exchange
and one-half percent