Common use of Delay in Payment of Land Premium/ Annual Lease Rental Clause in Contracts

Delay in Payment of Land Premium/ Annual Lease Rental. Where the lessee does not pay any part of the Land Premium or ground or Annual Lease Rent or fees or service charges or any other charge and the amount remains as balance, the Authority shall have power to recover Penal surcharge as Delayed Interest for delayed period and to recover the balance as arrears of land revenue

Delay in Payment of Land Premium/ Annual Lease Rental. Where the lessee does not pay any part of the Land Premium or ground or Annual annual Lease Rent or fees or service charges or any other charge and the amount remains as balance, the Authority shall have power to recover Penal penal surcharge as Delayed Interest interest for delayed period and to recover the balance as arrears of land revenue

Delay in Payment of Land Premium/ Annual Lease Rental. Where the lessee does not pay any part of the Land Premium or ground or Annual annual Lease Rent or fees or service charges or any other charge and the amount remains as balance, the Authority shall have power to recover Penal penal surcharge as Delayed Interest interest for delayed period and to recover the balance as arrears of land revenuerevenue CLAUSE 7

Delay in Payment of Land Premium/ Annual Lease Rental. Where the lessee does not pay any part of the Land Premium or ground or Annual Lease Rent or fees Charges or service charges or any other charge and the amount remains as balance, the Authority shall have power to recover Penal surcharge as Delayed Interest for delayed period and to recover the balance as arrears of land revenue

Delay in Payment of Land Premium/ Annual Lease Rental. Where the lessee does not pay any part of the Land Premium or ground or Annual Lease Rent or fees or service charges or any other charge and the amount remains as balance, the Authority shall have power to recover Penal surcharge as Delayed Interest for delayed period at the rate of Delayed Interest and to recover the balance as arrears of land revenue

Delay in Payment of Land Premium/ Annual Lease Rental. Where the lessee does not pay any part of the Land Premium or ground or Annual Lease Rent or fees or service charges or any other charge and the amount remains as balance, the Authority shall have power to recover Penal surcharge as Delayed Interest for delayed period at the rate 14% per annum (the “Delayed Interest”) and to recover the balance as arrears of land revenue

Delay in Payment of Land Premium/ Annual Lease Rental. Where the lessee does not pay any part of the Land Premium or ground or Annual Lease Rent or fees or service charges or any other charge and the amount remains as balance, the Authority shall have power to recover Penal surcharge as Delayed Interest for delayed period and to recover the balance as arrears of land revenue