Contractual penalties and default interest Sample Clauses

Contractual penalties and default interest. 1. If the Seller is in default on the delivery of Equipment at the agreed time, under Article III (1) of this Agreement, the Purchaser is entitled to require that the Seller pay a contractual penalty of 0.05 % of the total purchase price of the Equipment, exclusive of VAT, for each day of default or part thereof, until full performance of the obligation.
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Contractual penalties and default interest. 8.1 If the Purchaser is in delay with payment of the purchase price, it will be obliged to pay to SPOLEK a contractual fine of 0.05% of the outstanding amount for each day of delay.
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Contractual penalties and default interest. If the Seller is in default on the delivery of Equipment at the agreed time, under Article III (1) of this Agreement, the Purchaser is entitled to require that the Seller pay a contractual penalty of 0.05 % of the total purchase price of the Equipment, exclusive of VAT, for each day of default or part thereof, until full performance of the obligation. In the event of non-compliance with the due date of invoices issued by the Seller, the Seller is entitled to claim default interest from the Purchaser, in the amount of 0.01 % of the outstanding amount (exclusive of VAT) for each day of default, or part thereof, on the payment of the invoice. The right to invoice and collect a contractual penalty and default interest arises for the Purchaser on the first day after the expiry of the period specified for performance, and for the Seller on the first day following the expiry of the invoice maturity. Contractual penalties and default interest are payable within 14 calendar days from the date of the delivery of the written notice by which they are claimed. The contractual parties have agreed that the payment of a contractual penalty shall be without prejudice to the right to compensation for the full amount of financial or non-financial damage incurred, i.e., including the amount in excess of the contractual penalty invoiced or paid, and it is also without prejudice to the proper performance of the obligations under this Agreement. The Purchaser is entitled to set off the contractual penalty against the amount invoiced by the Seller, and the contact person of the Purchaser shall inform the contact person of the Seller electronically (by e-mail) about the amount of the contractual penalty. By signing this Agreement, the Seller consents to such a procedure.
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Contractual penalties and default interest. 10.1 In case of a delay with the delivery of the Course within the date defined in this Contract, the Contractor will pay to the Contracting Authority a contractual penalty of 0.1% of the total price for each day or part of the day of the delay until the complete performance of the Contract or the termination of the contractual relation. This is without prejudice to Article XII of this Contract. The right for invoicing a contractual penalty arises on the first day of the delay of the performance of this Contract. 10.2 In the event of a substantial breach of the Contract in accordance with Section 2002 Article 1 of the Civil Code, the Contractor undertakes to pay to the Contracting Authority a contractual penalty of a total of USD 4,000.00 to the bank account stated in the heading of this Contract. 10.3 In case of non-observance of the agreed date of the removal of the defect of the Course claimed under Article IX herein, the Contractor shall pay to the Contracting Authority a contractual penalty of 0.1 % of the total price of the Course for each day or part of the day of the delay until the signature of the complaint report and the removal of the defect. This is without prejudice to Article XII of this Contract. The right for invoicing a contractual penalty arises on the first day of the delay with the performance of the obligation specified herein. 10.4 The Contracting Authority shall pay to the Contractor a contractual penalty for the delay in payment of the invoice for each day or part of the day of delay amounting to 0.1% of the total price of the partial order until the Invoice is paid. 10.5 The liable Party is obliged to pay contractual penalties and delay interest irrespective of whether and what level of damage was incurred to the other Party. The compensation for damage is enforceable separately, in addition to contractual penalties and the full level of delay interest. 10.6 Contractual penalties are due within 30 days of the date of delivery of the Invoice.
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Contractual penalties and default interest. If the Seller is in default on the delivery of Equipment at the agreed time, under Article III (1) of this Agreement, the Purchaser is entitled to require that the Seller pay a contractual penalty of 0.05 % of the total purchase price of the Equipment, exclusive of VAT, for each day of default or part thereof, until full performance of the obligation. If the Seller is in default on compliance with the time limit for the commencement of the removal of defects set in this Agreement, it shall pay to the Seller a contractual penalty of CZK 500 for each day of default or part thereof, until full performance of the obligation. If the Seller fails to adhere to the time limit for the removal of defects set in this Agreement, it shall pay to the Seller a contractual penalty of CZK 500 for each day of default or part thereof, until full performance of the obligation. In the event of non-compliance with the due date of invoices issued by the Seller, the Seller is entitled to claim default interest from the Purchaser, in the amount of 0.01 % of the outstanding amount (exclusive of VAT) for each day of default, or part thereof, on the payment of the invoice. The right to invoice and collect a contractual penalty and default interest arises for the Purchaser on the first day after the expiry of the period specified for performance, and for the Seller on the first day following the expiry of the invoice maturity. Contractual penalties and default interest are payable within 14 calendar days from the date of the delivery of the written notice by which they are claimed. The contractual parties have agreed that the payment of a contractual penalty shall be without prejudice to the right to compensation for the full amount of financial or non-financial damage incurred, i.e., including the amount in excess of the contractual penalty invoiced or paid, and it is also without prejudice to the proper performance of the obligations under this Agreement. The Purchaser is entitled to set off the contractual penalty against the amount invoiced by the Seller, and the contact person of the Purchaser shall inform the contact person of the Seller electronically (by e-mail) about the amount of the contractual penalty. By signing this Agreement, the Seller consents to such a procedure.
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Related to Contractual penalties and default interest

  • Default Interest Upon the occurrence and during the continuance of an Event of Default under Section 6.01(a), the Agent may, and upon the request of the Required Lenders shall, require the Borrower to pay interest (“Default Interest”) on (i) the unpaid principal amount of each Advance owing to each Lender, payable in arrears on the dates referred to in clause (a)(i) or (a)(ii) above, at a rate per annum equal at all times to 2% per annum above the rate per annum required to be paid on such Advance pursuant to clause (a)(i) or (a)(ii) above and (ii) to the fullest extent permitted by law, the amount of any interest, fee or other amount payable hereunder that is not paid when due, from the date such amount shall be due until such amount shall be paid in full, payable in arrears on the date such amount shall be paid in full and on demand, at a rate per annum equal at all times to 2% per annum above the rate per annum required to be paid on Base Rate Advances pursuant to clause (a)(i) above; provided, however, that following acceleration of the Advances pursuant to Section 6.01, Default Interest shall accrue and be payable hereunder whether or not previously required by the Agent.

  • Consequences of Events of Default and Corrective Action If an Event of Default occurs, the Province may, at any time, take one or more of the following actions:

  • Interest on Overdue Amounts 22.1 Any Licence Fee which is payable and remains unpaid for a period in excess of 30 (thirty) days from the date of the invoice, will attract interest at the current legal rate, calculated in accordance with the interest rate prescribed by the Minister of Justice in accordance with the Prescribed Rate of Interest Act 55 of 1975, as amended.

  • Additional Fee on Late Payments For any payments thirty (30) calendar days or more overdue under this Agreement, Registry Operator shall pay an additional fee on late payments at the rate of 1.5% per month or, if less, the maximum rate permitted by applicable law.

  • Late Payments If any undisputed amount in an invoice of the Transfer Agent (for fees or reimbursable expenses) is not paid when due, the Fund shall pay the Transfer Agent interest thereon (from the due date to the date of payment) at a per annum rate equal to one percent (1.0%) plus the Prime Rate (that is, the base rate on corporate loans posted by large domestic banks) published by The Wall Street Journal (or, in the event such rate is not so published, a reasonably equivalent published rate selected by the Fund) on the first day of publication during the month when such amount was due. Notwithstanding any other provision hereof, such interest rate shall be no greater than permitted under applicable provisions of Massachusetts law.

  • Prepayment Penalties 4. Any provisions in your consumer credit contract, loan, security, or account agreements that are determined to be inconsistent with or contradictory to these disclosures or the MLA (as they may be changed or amended from time to time) are inapplicable with regard to this loan. However, all other terms and conditions of the consumer credit contract shall remain in full force and effect.

  • Default and Consequences of Default 18.1 Interest on overdue invoices shall accrue daily from the date when payment becomes due, until the date of payment, at a rate of two and a half percent (2.5%) per calendar month (and at the Supplier’s sole discretion such interest shall compound monthly at such a rate) after as well as before any judgment.

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