Common use of Damages for Delay in Payment of Project Consideration Clause in Contracts

Damages for Delay in Payment of Project Consideration. 19.5.1 In case of delay by the Concessionaire to make the payment of the Project Consideration on or before the due date, it shall be liable to pay interest on the delayed payments calculated at the rate of 18% (eighteen percent) per annum for the days of the delay, subject to a maximum delay of 60 days (sixty days) beyond the due date, as applicable, after which the Authority shall be entitled to terminate this Agreement.

Damages for Delay in Payment of Project Consideration. 19.5.1 In case of delay by the Concessionaire to make the payment of the Project Consideration on or before the respective due date, it shall be liable to pay interest on the delayed payments calculated at the rate of 18% (eighteen percent) per annum for the days each day of the delay, subject to a maximum delay of 60 days (sixty days) beyond the due date, as applicable, after which the Authority shall be entitled to terminate this Agreement.

Damages for Delay in Payment of Project Consideration. 19.5.1 19.7.1 In case of delay by the Concessionaire to make the payment of the Project Consideration on or before the respective due date, it shall be liable to pay interest on the delayed payments calculated at the rate of 18% (eighteen percent) per annum for the days each day of the delay, subject to a maximum delay of 60 days (sixty days) beyond the due date, as applicable, after which the Authority shall be entitled to terminate this Agreement.