Common use of Default and Consequences of Default Clause in Contracts

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 one half percent (2.5%) per calendar month and at CNC’s sole discretion such interest shall compound monthly at such a rate, after as well as before any judgment. 18.2 If the Client owes CNC any money the Client shall indemnify CNC from and against all costs and disbursements incurred by CNC in recovering the debt including but not limited to internal administration fees, legal costs on a solicitor and own client basis, CNC’s contract default fees, and bank dishonour fees. 18.3 Further to any other rights or remedies CNC may have under this Contract, if the Client has made payment to CNC, and the transaction is subsequently reversed, the Client shall be liable for the amount of the reversed transaction, in addition to any further costs incurred by CNC under this clause 18 where it can be proven that such reversal is found to be illegal, fraudulent or in contravention to the Client’s obligations under this Contract. 18.4 Without prejudice to CNC’s other remedies at law CNC shall be entitled to cancel all or any part of any order of the Client which remains unperformed in addition to and without prejudice to any other remedies and all amounts owing to CNC shall, whether or not due for payment, become immediately payable in the event that: (a) any money payable to CNC becomes overdue, or in CNC’s opinion the Client will be unable to meet its payments as they fall due; or (b) the Client has exceeded any applicable credit limit provided by CNC; (c) the Client becomes insolvent, convenes a meeting with its creditors or proposes or enters into an arrangement with creditors, or makes an assignment for the benefit of its creditors; or (d) a receiver, manager, liquidator (provisional or otherwise) or similar person is appointed in respect of the Client or any asset of the Client.

Default and Consequences of Default. 18.1 15.1 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 one a half percent (2.5%) per calendar month (and at CNCPP’s sole discretion such interest shall compound monthly at such a rate, ) after as well as before any judgment. 18.2 15.2 If the Client owes CNC PP any money the Client shall indemnify CNC PP from and against all costs and disbursements incurred by CNC PP in recovering the debt (including but not limited to internal administration fees, legal costs on a solicitor and own client basis, CNCPP’s contract default feesfee, and bank dishonour fees). 18.3 15.3 Further to any other rights or remedies CNC PP may have under this Contract, if the a Client has made payment to CNCPP, and the transaction is subsequently reversed, the Client shall be liable for the amount of the reversed transaction, in addition to any further costs incurred by CNC PP under this clause 18 15 where it can be proven that such reversal is found to be illegal, fraudulent or in contravention to the Client’s obligations under this Contract. 18.4 15.4 Without prejudice to CNCPP’s other remedies at law CNC PP shall be entitled to cancel all or any part of any order of the Client which remains unperformed in addition to and without prejudice to any other remedies unfulfilled and all amounts owing to CNC PP shall, whether or not due for payment, become immediately payable in the event thatif: (a) any money payable to CNC PP becomes overdue, or in CNCPP’s opinion the Client will be unable to meet its payments as they fall make a payment when it falls due; or; (b) the Client has exceeded any applicable credit limit provided by CNCPP; (c) the Client becomes insolventinsolvent or bankrupt, convenes a meeting with its creditors or proposes or enters into an arrangement with creditors, or makes an assignment for the benefit of its creditors; or (d) a receiver, manager, liquidator (provisional or otherwise) or similar person is appointed in respect of the Client or any asset of the Client.

Default and Consequences of Default. 18.1 21.1 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 one a half percent (2.5%) per calendar month (and at CNCTRT’s sole discretion such interest shall compound monthly at such a rate, ) after as well as before any judgment. 18.2 21.2 If the Client Customer owes CNC TRT any money the Client Customer shall indemnify CNC TRT from and against all costs and disbursements incurred by CNC TRT in recovering the debt (including but not limited to internal administration fees, legal costs on a solicitor and own client Customer basis, CNCTRT’s contract default feescollection agency costs, and bank dishonour fees). 18.3 21.3 Further to any other rights or remedies CNC TRT may have under this Contract, if the Client a Customer has made payment to CNCTRT, and the transaction is subsequently reversed, the Client Customer shall be liable for the amount of the reversed transaction, in addition to any further costs incurred by CNC TRT under this clause 18 21, where it can be proven that such reversal is found to be illegal, fraudulent or in contravention to the ClientCustomer’s obligations under this Contract. 18.4 21.4 Without prejudice to CNCTRT’s other remedies at law CNC TRT shall be entitled to cancel all or any part of any order of the Client Customer which remains unperformed in addition to and without prejudice to any other remedies unfulfilled and all amounts owing to CNC TRT shall, whether or not due for payment, become immediately payable in the event thatif: (a) any money payable to CNC TRT becomes overdue, or in CNCTRT’s opinion the Client Customer will be unable to meet its payments as they fall make a payment when it falls due; or; (b) the Client Customer has exceeded any applicable credit limit provided by CNCTRT; (c) the Client Customer becomes insolventinsolvent or bankrupt, convenes a meeting with its creditors or proposes or enters into an arrangement with creditors, or makes an assignment for the benefit of its creditors; or (d) a receiver, manager, liquidator (provisional or otherwise) or similar person is appointed in respect of the Client Customer or any asset of the ClientCustomer.

Default and Consequences of Default. 18.1 19.1 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 one a half percent (2.5%) per calendar month (and at CNCMEL’s sole discretion such interest shall compound monthly at such a rate, ) after as well as before any judgment. 18.2 19.2 If the Client owes CNC XXX any money the Client shall indemnify CNC XXX from and against all costs and disbursements incurred by CNC XXX in recovering the debt (including but not limited to internal administration fees, legal costs on a solicitor and own client basis, CNCMEL’s contract default feescollection agency costs, and bank dishonour fees). 18.3 19.3 Further to any other rights or remedies CNC XXX may have under this Contract, if the a Client has made payment to CNCXXX, and the transaction is subsequently reversed, the Client shall be liable for the amount of the reversed transaction, in addition to any further costs incurred by CNC XXX under this clause 18 19, where it can be proven that such reversal is found to be illegal, fraudulent or in contravention to the Client’s obligations under this Contract. 18.4 19.4 Without prejudice to CNCMEL’s other remedies at law CNC XXX shall be entitled to cancel all or any part of any order of the Client which remains unperformed in addition to and without prejudice to any other remedies unfulfilled and all amounts owing to CNC XXX shall, whether or not due for payment, become immediately payable in the event thatif: (a) any money payable to CNC XXX becomes overdue, or in CNCMEL’s opinion the Client will be unable to meet its payments as they fall make a payment when it falls due; or; (b) the Client has exceeded any applicable credit limit provided by CNCXXX; (c) the Client becomes insolventinsolvent or bankrupt, convenes a meeting with its creditors or proposes or enters into an arrangement with creditors, or makes an assignment for the benefit of its creditors; or (d) a receiver, manager, liquidator (provisional or otherwise) or similar person is appointed in respect of the Client or any asset of the Client.

Default and Consequences of Default. 18.1 14.1 Interest on overdue invoices payments shall accrue daily from the date when payment becomes due, until the date of payment, at a rate of two and one a half percent (2.5%) per calendar month (and at CNCSC’s sole discretion such interest shall compound monthly at such a rate, ) after as well as before any judgment. 18.2 14.2 If the Client owes CNC SC any money the Client shall indemnify CNC SC from and against all costs and disbursements incurred by CNC SC in recovering the debt (including but not limited to internal administration fees, legal costs on a solicitor and own client basis, CNCSC’s contract default feesfee, and bank dishonour fees). 18.3 14.3 Further to any other rights or remedies CNC SC may have under this Contract, if the a Client has made payment to CNCSC, and the transaction is subsequently reversed, the Client shall be liable for the amount of the reversed transaction, in addition to any further costs incurred by CNC SC under this clause 18 14 where it can be proven that such reversal is found to be illegal, fraudulent or in contravention to the Client’s obligations under this Contract. 18.4 14.4 Without prejudice to CNCSC’s other remedies at law CNC SC shall be entitled to cancel all or any part of any order of the Client which remains unperformed in addition to and without prejudice to any other remedies unfulfilled and all amounts owing to CNC SC shall, whether or not due for payment, become immediately payable in the event thatif: (a) any money payable to CNC SC becomes overdue, or in CNCSC’s opinion the Client will be unable to meet its payments as they fall make a payment when it falls due; or; (b) the Client has exceeded any applicable credit limit provided by CNCSC; (c) the Client becomes insolvent, convenes a meeting with its creditors or proposes or enters into an arrangement with creditors, or makes an assignment for the benefit of its creditors; or (d) a receiver, manager, liquidator (provisional or otherwise) or similar person is appointed in respect of the Client or any asset of the Client.