Common use of DEFAULT OF PAYMENT Clause in Contracts

DEFAULT OF PAYMENT. 32.1 A) If any contractor shall default in remitting payments required to be made to funds pursuant to the terms of this Collective Agreement, and default shall continue for ten (10) days or more, the contractor shall pay to the applicable Trust Fund as liquidated damages and not as a penalty, an amount equal to 10% of the arrears for each month or part thereof in which the contractor is in default. The failure to pay each month shall constitute a separate offense, and shall subject the Contractor to the 10% payment. Thereafter interest shall run at the rate of 2% per month on any unpaid arrears, including liquidated damages.

DEFAULT OF PAYMENT. 32.1 32.01 A) If any contractor shall default in remitting payments required to be made to funds pursuant to the terms of this Collective Agreement, and default shall continue for ten (10) days or more, the contractor shall pay to the applicable Trust Fund as liquidated damages and not as a penalty, an amount equal to 10% of the arrears for each month or part thereof in which the contractor is in default. The failure to pay each month shall constitute a separate offense, and shall subject the Contractor to the 10% payment. Thereafter interest shall run at the rate of 2% per month on any unpaid arrears, including liquidated damages.

DEFAULT OF PAYMENT. 32.1 33.1 A) If any contractor shall default in remitting payments required to be made to funds pursuant to the terms of this Collective Agreement, and default shall continue for ten (10) days or more, the contractor shall pay to the applicable Trust Fund as liquidated damages and not as a penalty, an amount equal to 10% of the arrears for each month or part thereof in which the contractor is in default. The failure to pay each month shall constitute a separate offense, offense and shall subject the Contractor to the 10% payment. Thereafter interest shall run at the rate of 2% per month on any unpaid arrears, including liquidated damages.

DEFAULT OF PAYMENT. 32.1 A) 32.01 If any contractor Employer shall default in remitting payments required to be made to funds pursuant to the terms of this Collective Agreement, and default shall continue for ten (10) days or more, the contractor Employer shall pay to the applicable Trust Fund as liquidated damages and not as a penalty, an amount equal to 10% of the arrears for each month or part thereof in which the contractor Employer is in default. The failure to pay each month shall constitute a separate offenseoffence, and shall subject the Contractor Employer to the 10% payment. Thereafter interest shall run at the rate of 2% per month (26.92% per annum) on any unpaid arrears, including liquidated damages.

DEFAULT OF PAYMENT. 32.1 32.01 (A) If any contractor shall default in remitting payments pay- ments required to be made to funds pursuant to the terms of this Collective Agreement, and default shall continue for ten (10) days or more, the contractor con- tractor shall pay to the applicable Trust Fund as liquidated damages and not as a penalty, an amount equal to 10% of the arrears for each month or part thereof in which the contractor is in default. The failure to pay each month shall constitute a separate offense, and shall subject the Contractor to the 10% payment. Thereafter interest shall run at the rate of 2% per month on any unpaid arrears, including liquidated damages.