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 16.1 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 CNCthe Consultant’s sole discretion such interest shall compound monthly at such a rate, ) after as well as before any judgment. 18.2 16.2 If the Client owes CNC the Consultant any money the Client shall indemnify CNC the Consultant from and against all costs and disbursements incurred by CNC the Consultant in recovering the debt (including but not limited to internal administration fees, legal costs on a solicitor and own client basis, CNCthe Consultant’s contract default feescollection agency costs, and bank dishonour fees). 18.3 16.3 Further to any other rights or remedies CNC the Consultant may have under this Contract, if the a Client has made payment to CNCthe Consultant, 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 the Consultant under this clause 18 16, 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 16.4 Without prejudice to CNCthe Consultant’s other remedies at law CNC the Consultant 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 the Consultant shall, whether or not due for payment, become immediately payable in the event thatif: (a) any money payable to CNC the Consultant becomes overdue, or in CNCthe Consultant’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 CNCthe Consultant; (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 16.1 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 CNCCG’s sole discretion such interest shall compound monthly at such a rate, ) after as well as before any judgment. 18.2 16.2 If the Client owes CNC CG any money the Client shall indemnify CNC CG from and against all costs and disbursements incurred by CNC CG in recovering the debt (including but not limited to internal administration fees, legal costs on a solicitor and own client basis, CNCCG’s contract default feesfee, and bank dishonour fees). 18.3 16.3 Further to any other rights or remedies CNC CG may have under this Contract, if the a Client has made payment to CNCCG, 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 CG under this clause 18 16 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 16.4 Without prejudice to CNCCG’s other remedies at law CNC CG 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 CG shall, whether or not due for payment, become immediately payable in the event thatif: (a) any money payable to CNC CG becomes overdue, or in CNCCG’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 CNCCG; (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 16.1 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 CNC’s CCS’ sole discretion such interest shall compound monthly at such a rate, ) after as well as before any judgment. 18.2 16.2 If the Client Customer owes CNC CCS any money the Client Customer shall indemnify CNC CCS from and against all costs and disbursements incurred by CNC CCS in recovering the debt (including but not limited to internal administration fees, legal costs on a solicitor and own client basis, CNC’s CCS’ contract default feesfee, and bank dishonour fees). 18.3 16.3 Further to any other rights or remedies CNC CCS may have under this Contract, if the Client a Customer has made payment to CNCCCS, 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 CCS under this clause 18 16 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 16.4 Without prejudice to CNC’s CCS’ other remedies at law CNC CCS 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 CCS shall, whether or not due for payment, become immediately payable in the event thatif: (a) any money payable to CNC CCS becomes overdue, or in CNC’s CCS’ 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 CNCCCS; (c) the Client Customer 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 Customer or any asset of the ClientCustomer.

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 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.

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 half percent (2.5%) per calendar month (and at CNCTCF’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 owes CNC TCF any money the Client shall indemnify CNC TCF from and against all costs and disbursements incurred by CNC TCF in recovering the debt (including but not limited to internal administration fees, legal costs on a solicitor and own client basis, CNCTCF’s contract default fees, and bank dishonour fees). 18.3 21.3 Further to any other rights or remedies CNC TCF may have under this Contractcontract, if the a Client has made payment to CNCTCF, 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 TCF under this clause 18 21 where it can be proven that such reversal is found to be illegal, fraudulent or in contravention to the Client’s obligations under this Contractagreement. 18.4 21.4 Without prejudice to CNCTCF’s other remedies at law CNC TCF 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 TCF shall, whether or not due for payment, become immediately payable in the event that: (a) any money payable to CNC TCF becomes overdue, or in CNCTCF’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 CNCTCF; (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 16.1 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 CNCthe Contractor’s sole discretion such interest shall compound monthly at such a rate, ) after as well as before any judgment. 18.2 16.2 If the Client owes CNC the Contractor any money the Client shall indemnify CNC the Contractor from and against all costs and disbursements incurred by CNC the Contractor in recovering the debt (including but not limited to internal administration fees, legal costs on a solicitor and own client basis, CNCthe Contractor’s contract default feescollection agency costs, and bank dishonour fees). 18.3 16.3 Further to any other rights or remedies CNC the Contractor may have under this Contractcontract, if the a Client has made payment to CNCthe Contractor, 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 the Contractor under this clause 18 16 where it can be proven that such reversal is found to be illegal, fraudulent or in contravention to the Client’s obligations under this Contractcontract. 18.4 16.4 Without prejudice to CNCthe Contractor’s other remedies at law CNC the Contractor 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 the Contractor shall, whether or not due for payment, become immediately payable in the event thatif: (a) any money payable to CNC the Contractor becomes overdue, or in CNCthe Contractor’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 CNC; (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 (dc) a receiver, manager, liquidator (provisional or otherwise) or similar person is appointed in respect of the Client or any asset of the Client.