Common use of Default or late payment Clause in Contracts

Default or late payment. In case of default or late payment, including partial payment, OVHcloud may charge the Client late payment penalties equal to 2% calculated monthly (26.82% per year) from the day following the payment due date and OVHcloud. Furthermore, any default or delay of payment (including partial) of the sums due by the Client under the Contract which persists for more than (4) days after notification of default or delay of payment sent to the Client by email, shall result by right, and without requiring any additional notification or formal notice, in (a) the immediate demand of all of the sums remaining due by the Client under the Contract regardless of their payment terms, and (b) the right of OVHcloud to decide to immediately suspend and without prior notice all or part of the Client Services (including those which have been paid for), to refuse any new Order or renewal