Common use of Collection in cash Clause in Contracts

Collection in cash. When THE CONTRACTOR is required to pay the royalties in cash, it will deliver XXX the corresponding sums within the period stated in the law or by the competent authority or as agreed by the Parties as the case may be. In the event of late payment, THE CONTRACTOR will pay XXX the amount necessary to cover the owed sum, together with the corresponding penalty interest and any expenses incurred by XXX in securing payment.

Collection in cash. When THE the CONTRACTOR is required has to pay the royalties in cash, it will shall deliver to the XXX the corresponding sums within the period stated relevant amounts in the law or terms established by the competent authority or as agreed by the Parties as the case may beauthority. In the event case of late payment, THE the CONTRACTOR will shall pay the XXX the amount necessary required to cover the owed sumamount owed, together with the corresponding penalty interest late payment interests due and any the expenses incurred by XXX in securing to obtain the payment.