Default in Payments. The Board of Directors will establish policies and procedures for dealing with situations in which Members have not timely paid contributions. The Board of Directors may set interest rates and fees to offset administrative expenses, collection costs, etc. for delinquent payments.
Appears in 3 contracts
Sources: Franchise Agreement (El Pollo Loco Holdings, Inc.), Franchise Agreement (El Pollo Loco Holdings, Inc.), Franchise Agreement (EPL Intermediate, Inc.)