Common use of Default and Delinquency Clause in Contracts

Default and Delinquency. If Oceano defaults in its obligation to pay or advance any amounts due pursuant to this Agreement after such amounts have become delinquent, Oceano shall be liable to the FCFA for interest on any unpaid amount at the rate of 10%, or the maximum rate allowed by law if it is less than 10%, until the overdue invoice amount is paid in full.

Appears in 3 contracts

Samples: Agreement to Provide Fire Services, Agreement to Provide Fire Services, Agreement to Provide Fire Services

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Default and Delinquency. If Oceano defaults in its obligation to pay or advance any amounts due pursuant to this Agreement after such amounts have become delinquent, Oceano shall be liable to the FCFA for interest on any unpaid amount at the rate of 10%% per annum, or the maximum rate allowed by law if it is less than 10%% per annum, until the overdue invoice amount is paid in full.

Appears in 1 contract

Samples: Ongoing Calpers Liabilities Agreement

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