DEFAULT IN PAYMENTS OF USAGE CHARGES OF COMMON FACILITIES Sample Clauses

DEFAULT IN PAYMENTS OF USAGE CHARGES OF COMMON FACILITIES. DURING THE MAINTENANCE PERIOD: Failure to pay Maintenance Charges, Electricity Charges, DG usage charges and other outgoings if any, within due dates may result in withdrawal/ restrictions/ disconnections/ discontinuation of the respective common services to the Allottee and will make the Allottee liable to pay interest at 1.50% per month on the outstanding dues for the period of the delay, calculated from the due date till the date of actual payment.
Sample 1
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DEFAULT IN PAYMENTS OF USAGE CHARGES OF COMMON FACILITIES. DURING THE MAINTENANCE PERIOD: Failure to pay Maintenance Charges, Electricity Charges, DG usage charges, , Facility Usage charges, within due dates may result in withdrawal/ restrictions/ disconnections/ discontinuation of the respective common services to the Allottee and will make the Allottee liable to pay interest at 1% (plus taxes as applicable) per month on the outstanding dues for the period of the delay, calculated from the due date till the date of actual payment. Moreover, if the default continues for more than 3 months, then the Owner/Developer / Association may;
Sample 1
DEFAULT IN PAYMENTS OF USAGE CHARGES OF COMMON FACILITIES. DURING THE MAINTENANCE PERIOD: So long as the Common Areas & Facilities of the Project are maintained by the Promoter, failure to pay Maintenance Charges, Electricity Charges, DG usage Charges, and Membership Subscription of the RAC within due dates may result in withdrawal/ restrictions/ disconnections/discontinuation of the respective common services to the Allottees and will make the Allottees liable to pay interest at 12% per annum on the outstanding dues for the period of the delay, calculated from the due date till the date of actual payment.
Sample 1

Related to DEFAULT IN PAYMENTS OF USAGE CHARGES OF COMMON FACILITIES

  • Default in payment Any payment not made within ten (10) business days after it is due in accordance with this Agreement shall thereafter bear interest, compounded annually, at the prime rate in effect from time to time at Citibank, N.A., or any successor thereto. Such interest shall be payable at the same time as the corresponding payment is payable.

  • Benefits – Prepayment or Repayment of Premiums During Unpaid Portion of Leave 11.4.1 Teachers may prepay or repay benefit premiums payable during the duration of parental leave.

  • Interest on Overdue Amounts 22.1 Any Licence Fee which is payable and remains unpaid for a period in excess of 30 (thirty) days from the date of the invoice, will attract interest at the current legal rate, calculated in accordance with the interest rate prescribed by the Minister of Justice in accordance with the Prescribed Rate of Interest Act 55 of 1975, as amended.

  • Percentages of ADB Financing 2. Except as ADB may otherwise agree, the items of the Categories listed in the Table shall be financed out of the proceeds of the Loan on the basis of the percentages set forth in the Table. Interest Charge

  • Interest on Overdue Payments (a) If, for any reason, a Party does not pay an amount payable under or in connection with this Agreement on or before the due date for payment, it must pay interest to the other Party (who is entitled to receive the payment).

  • Default Interest Upon the occurrence and during the continuance of an Event of Default under Section 6.01(a), the Agent may, and upon the request of the Required Lenders shall, require the Borrower to pay interest (“Default Interest”) on (i) the unpaid principal amount of each Advance owing to each Lender, payable in arrears on the dates referred to in clause (a)(i) or (a)(ii) above, at a rate per annum equal at all times to 2% per annum above the rate per annum required to be paid on such Advance pursuant to clause (a)(i) or (a)(ii) above and (ii) to the fullest extent permitted by law, the amount of any interest, fee or other amount payable hereunder that is not paid when due, from the date such amount shall be due until such amount shall be paid in full, payable in arrears on the date such amount shall be paid in full and on demand, at a rate per annum equal at all times to 2% per annum above the rate per annum required to be paid on Base Rate Advances pursuant to clause (a)(i) above; provided, however, that following acceleration of the Advances pursuant to Section 6.01, Default Interest shall accrue and be payable hereunder whether or not previously required by the Agent.

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