Common use of Daily Late Payment Penalty Clause in Contracts

Daily Late Payment Penalty. 0.5% of the arrears for each overdue day (no more than 0.27% of the remaining principal amount). Furthermore, the total amount of expenses incurred from the date on which the payment went past due until the date on which it is paid in full shall not exceed 1.5x the current outstanding principal balance.

Daily Late Payment Penalty. 0.5% of the arrears for each per day overdue day (no more than 0.27% of the remaining outstanding principal amountbalance). Furthermore, the total amount of expenses incurred from the date on which the payment went past due until the date on which it is paid in full off shall not exceed 1.5x the current outstanding principal balance.

Daily Late Payment Penalty. 0.5% of the arrears for each overdue day (no more than 0.27% of the remaining principal princ amount). Furthermore, the total amount of expenses incurred from the date on which whi the payment went past due until the date on which it is paid in full shall not exceed 1.5x exce1e.d5x the current outstanding principal balance.