Common use of Contractual penalties and default interest Clause in Contracts

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. 2. 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. 3. 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. 4. 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.

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. 2. 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. 3. 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. 4. 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 0.05 % of the outstanding amount (exclusive of VAT) for each day of default, or part thereof, on the payment of the invoice. 4. 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. 5. 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. 6. 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. 7. 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.

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. 2. 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. 3. 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. 4. 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.

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. 2. 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 Purchaser a contractual penalty of CZK 500 for each day of default or part thereof, until full performance of the obligation. 3. 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. 4. 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 0.05 % 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.

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. 2. 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. 3. 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. 4. 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 0.05 % 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.