Common use of DEFAULT OF PAYMENT Clause in Contracts

DEFAULT OF PAYMENT. 22.01 If any contractor shall default in remitting payments required to be made pursuant to this Article within the time specified, and default shall continue for ten (10) days or more, then in addition to any other remedy available to Local Union 46 or to any employees, such defaulting contractor shall pay to the Trustees, or to the Association in the case of Industry Fund Payments, as annualized interest rates and not as a penalty, an amount equal to ten percent (10%) of the arrears for each month or part thereof during which such default continues. The said damages shall become due and be payable upon the 21st day of the month following the month for which contributions were to be made. The ten percent (10%) of the said arrears shall become due and be payable by such contractor on the 21st day of each successive month while default continues. For the purpose of calculating the ten percent (10%) as aforesaid, “arrears” shall be deemed to include all accumulated damages remaining unpaid, or: Default in remitting such payments or any wages or other remuneration required to be paid hereunder, shall be deemed to constitute default in payment of wages and shall be in addition to the damages aforesaid, entitle Local Union 46 upon notice by registered mail that unless all payments have been made up to date, the said Union may withdraw the services of any employee or employees, 72 hours after receipt of said notice of such withdrawal, the employee or employees shall continue to be in the employ of the contractor and shall not be discharged or otherwise disciplined by the contractor, and shall be entitled to be paid as damages an amount equal to the wages based upon ordinary hours of labour and including all fringe benefits which he/she would have earned had he/she remained at work. The said employee or employees shall return to work forthwith upon the contractor remitting the payment of damages owing.

DEFAULT OF PAYMENT. 22.01 22.1 If any contractor Contractor shall default in remitting payments required to be made pursuant to this Article within the time specified, and default shall continue for ten (10) days or more, then in addition to any other remedy available to Local Union 46 or to any employees, such defaulting contractor Contractor shall pay to the Trustees, or to the Association in the case of Industry Fund Payments, as annualized interest rates and not as a penalty, an amount equal to ten percent (10%) of the arrears for each month or part thereof during which such default continues. The said damages shall become due and be payable upon the 21st day of the month following the month for which contributions were to be made. The ten percent (10%) of the said arrears shall become due and be payable by such contractor Contractor on the 21st day of each successive month while default continues. For the purpose of calculating the ten percent (10%) as aforesaid, “arrears” shall be deemed to include all accumulated damages remaining unpaid, or: Default in remitting such payments or any wages or other remuneration required to be paid hereunder, shall be deemed to constitute default in payment of wages and shall be in addition to the damages aforesaid, entitle Local Union 46 upon notice by registered mail that unless all payments have been made up to date, the said Union may withdraw the services of any employee or employees, 72 hours after receipt of said notice of such withdrawal, the employee or employees shall continue to be in the employ of the contractor Contractor and shall not be discharged or otherwise disciplined by the contractorContractor, and shall be entitled to be paid as damages an amount equal to the wages based upon ordinary hours of labour and including all fringe benefits which he/she would have earned had he/she remained at work. The said employee or employees shall return to work forthwith upon the contractor Contractor remitting the payment of damages owing.

DEFAULT OF PAYMENT. 22.01 If any contractor shall default in remitting payments required re- quired to be made pursuant to this Article within the time specified, and default shall continue for ten (10) days or more, then in addition to any other remedy available to Local Union 46 or to any employees, such defaulting contractor con- tractor shall pay to the Trustees, or to the Association in the case of Industry Fund Payments, as annualized interest inter- est rates and not as a penalty, an amount equal to ten percent (10%) of the arrears for each month or part thereof during which such default continues. The said damages shall become due and be payable upon the 21st day of the month following the month for which contributions contri- butions were to be made. The ten percent (10%) of the said arrears shall become due and be payable by such contractor con- tractor on the 21st day of each successive month while default continues. For the purpose of calculating the ten percent (10%) as aforesaid, “"arrears” " shall be deemed to include all accumulated damages remaining unpaid, or: Default in remitting such payments or any wages or other remuneration required to be paid hereunder, shall be deemed to constitute default in payment of wages and shall be in addition to the damages aforesaid, entitle Local Union 46 upon notice by registered mail that unless all payments have been made up to date, the said Union may withdraw the services of any employee or employees, 72 hours after receipt of said notice of such withdrawal, the employee or employees shall continue to be in the employ em- ploy of the contractor and shall not be discharged or otherwise oth- erwise disciplined by the contractor, and shall be entitled to be paid as damages an amount equal to the wages based upon ordinary hours of labour and including all fringe benefits which he/she he would have earned had he/she remained he re- mained at work. The said employee or employees shall return to work forthwith upon the contractor remitting the payment of damages owing.

DEFAULT OF PAYMENT. 22.01 If any contractor shall default in remitting payments required re- quired to be made pursuant to this Article within the time specified, and default shall continue for ten (10) days or more, then in addition to any other remedy available to Local Union 46 or to any employees, such defaulting contractor con- tractor shall pay to the Trustees, or to the Association in the case of Industry Fund Payments, as annualized interest inter- est rates and not as a penalty, an amount equal to ten percent (10%) of the arrears for each month or part thereof during which such default continues. The said damages shall become due and be payable upon the 21st day of the month following the month for which contributions contri- butions were to be made. The ten percent (10%) of the said arrears shall become due and be payable by such contractor con- tractor on the 21st day of each successive month while default continues. For the purpose of calculating the ten percent (10%) as aforesaid, “"arrears” " shall be deemed to include all accumulated damages remaining unpaid, or: Default in remitting such payments or any wages or other remuneration required to be paid hereunder, shall be deemed to constitute default in payment of wages and shall be in addition to the damages aforesaid, entitle Local Union 46 upon notice by registered mail that unless all payments have been made up to date, the said Union may withdraw the services of any employee or employees, 72 hours after receipt of said notice of such withdrawal, the employee or employees shall continue to be in the employ em- ploy of the contractor and shall not be discharged or otherwise oth- erwise disciplined by the contractor, and shall be entitled to be paid as damages an amount equal to the wages based upon ordinary hours of labour and including all fringe benefits which he/she he would have earned had he/she remained he re- mained at work. The said employee or employees shall return to work forthwith upon the contractor remitting the payment of damages owing.