Delay in the Payment Sample Clauses

Delay in the Payment. Supposing that the Buyer incurs delay with anyone of its obligations of payment, these will daily produce interests as of the date in which this payment had to be performed until the date of its total liquidation, applying an equivalent rate T.I.I.E. of 2.5%, same which will be indispensable and payable immediately, in the understanding of which the previous mentioned will be without damage of the application of any other provision or any other legal resource that has the Seller, or derived from the present Contract or any other source, giving up specifically the Buyer to the established within the article 380 of the Code of Commerce, in the referring part to the payment of yields to the legal currency over the owed amount. The Seller will have the right to substitute, according to the institutional regulations, the mechanism o any of the indicatives or the financial instruments mentioned herein in Clause 9.3, in such case the calculation of the delay interests will be applied, from the moment of the substitution, with the new mechanism or indicative or financial instrument. The base of the calculation of the delay interests, will be the commercial one, this is, that the annual rate is divided into 360 days, considering months of thirty days, and it’s multiplied by the number of days gone by. The Buyer accepts that its payments are applied in first term to the delay interests and the to the capital. When the checks submitted in time by the Buyer are returned and not paid for any cause imputable to the Buyer, will pay the Seller twenty per cent (20%) of the total amount, by means of indemnification, according to Article 193 of the General Law of Titles and Credit Operations, in addition to the connected expenses according to Article 195 of the mentioned Law, as well as the delay interests and taxes caused according to this Clause 9.3.
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Delay in the Payment. Supposing that the Buyer incurs delay with anyone of its obligations of payment, these will daily produce interests as of the date in which this payment had to be performed until the date of its total liquidation, applying an equivalent rate of 2.5 times the T.I.I.E., same which will be immediately indispensable and payable, in the understanding of which the aforementioned will be without damage of the application of any other provision or any other legal resource that has the Seller, or derived from the present Agreement or any other source, including, without any limitation, the Clause 9.4. To determine and pay the delay interests in account of the Buyer the following procedure will be applied: (a) the interest rate for delay applicable to the non paid and matured balance, will be that resulting of applying the monthly average of the T.I.I.E. determined by the Bank of Mexico and published on the Official Gazette of the Federation correspondent to twenty eight (28) days. For the effect of the calculation of the monthly average rate T.I.I.E., the arithmetic sum of the T.I.I.E. rates know and in force from the first natural Day, until the third labor Day prior to the termination of the previous Month to the application for the rate, divided between the number of natural Days considered in the arithmetic sum and the result will be also divided between twelve (12) and will be multiplied by factor 2.5, (b) the amount of the delay interests will be that resulting from multiply the non paid balance of the matured debt by the coefficient resulting from divide the monthly delay rate between thirty (30) and multiplied by the number of Days of delay in the Month, including the date of payment. The Buyer accepts that its payments are applied in first term to the delay interests and the to the capital.
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Related to Delay in the Payment

  • Delay in Requests Failure or delay on the part of any Lender or the L/C Issuer to demand compensation pursuant to the foregoing provisions of this Section shall not constitute a waiver of such Lender’s or the L/C Issuer’s right to demand such compensation, provided that the Borrower shall not be required to compensate a Lender or the L/C Issuer pursuant to the foregoing provisions of this Section for any increased costs incurred or reductions suffered more than nine months prior to the date that such Lender or the L/C Issuer, as the case may be, notifies the Borrower of the Change in Law giving rise to such increased costs or reductions and of such Lender’s or the L/C Issuer’s intention to claim compensation therefor (except that, if the Change in Law giving rise to such increased costs or reductions is retroactive, then the nine-month period referred to above shall be extended to include the period of retroactive effect thereof).

  • Delay in Delivery 6.1.1 If IAE is hindered or prevented from performing any obligation hereunder including but not limited to delivering any of the Supplies within the time for delivery specified in this Contract (as such time may be extended pursuant to the provisions of this Contract) by reason of:

  • Delay in Commencement Notwithstanding the Commencement Date, if for any reason Lessor cannot deliver possession of the Premises to Lessee on said date, Lessor shall not be subject to any liability therefor, nor shall such failure affect the validity of this Lease or the obligations of Lessee hereunder or extend the Term hereof, but in such case Lessee shall not be obligated to pay rent until possession of the Premises is tendered to Lessee; provided, however, that if Lessor shall not have delivered possession of the Premises within ninety (90) days from the Commencement Date and such delay is absent of force majeure or otherwise, Lessee may, at Lessee’s option, by notice in writing to Lessor within ten (10) days thereafter, cancel this Lease, in which event the parties shall be discharged from all obligations hereunder. If Lessee occupies the Premises prior to the Commencement Date, such occupancy shall be subject to all provisions hereof; such occupancy shall not advance the Expiration Date, and Lessee shall pay rent from its date of occupancy at the initial monthly rates set forth below. If Lessor, by reason of force majeure or otherwise, cannot deliver the Premises within ninety (90) days from the Commencement Date, Lessor or Lessee may, at their respective options, by notice in writing within ten (10) days thereafter, cancel this Lease. In the event Lessor is required to improve the Premises in the manner described on Exhibit “B” attached hereto (the “Lessor’s Work”), Lessor agrees to use reasonable diligence to have Lessor’s Work completed and the Premises ready for occupancy on or before the Commencement Date.

  • Payment of Transfer Taxes Buyer will be responsible for any sales tax and/or transfer tax due as a result of the transfer of assets pursuant to this Agreement.

  • Payment in the Event Losses Fail to Reach Expected Level On the date that is 45 days following the last day (such day, the “True-Up Measurement Date”) of the Final Shared Loss Month, or upon the final disposition of all Shared Loss Assets under this Single Family Shared-Loss Agreement at any time after the termination of the Commercial Shared-Loss Agreement, the Assuming Institution shall pay to the Receiver fifty percent (50%) of the excess, if any, of (i) twenty percent (20%) of the Intrinsic Loss Estimate less (ii) the sum of (A) twenty-five percent (25%) of the asset premium (discount) plus (B) twenty-five percent (25%) of the Cumulative Shared-Loss Payments plus (C) the Cumulative Servicing Amount. The Assuming Institution shall deliver to the Receiver not later than 30 days following the True-Up Measurement Date, a schedule, signed by an officer of the Assuming Institution, setting forth in reasonable detail the calculation of the Cumulative Shared-Loss Payments and the Cumulative Servicing Amount.

  • Liability for Transfer Taxes Without duplication of the indemnity set forth in Section 6.05 of the Contribution Agreement, the Equity Holder agrees to indemnify the Company for any Incremental Transfer Taxes incurred as a result of any direct or indirect transfers of the Company Shares or interests therein within two years after the IPO Closing Date; provided that such Company Shares shall be the Company’s sole recourse with respect to such indemnification obligation. Without duplication of the indemnity set forth in Section 6.05 of the Contribution Agreement, the Equity Holder hereby grants a security interest in 50% of the Company Shares received as Merger Consideration to the Company and hereby irrevocably appoints the Company, and any of its agents, officers, or employees as its attorney-in fact, which shall be deemed coupled with an interest, with full power to prepare, execute and deliver any documents, instruments and agreements as may be appropriate to perfect and continue such security interest in favor of the Company. The security interest granted pursuant to this Section 3.02 shall attach to the Company Shares that are not included in the Indemnity Holdback Amount. The Company agrees that the security interest in the Company Shares received by the Equity Holder in the Merger may be released, or collateral may be substituted, in accordance with the terms of the Escrow Agreement.

  • Transfer Fees and Expenses The Transferor and Transferee of any Units or other interest in the Company shall be jointly and severally obligated to reimburse the Company for all reasonable expenses (including attorneys’ fees and expenses) of any Transfer or proposed Transfer, whether or not consummated.

  • Delay in Payment Notwithstanding anything else to the contrary in this Agreement, the BEP, or any other plan, contract, program or otherwise, the Company (and its affiliates) are expressly authorized to delay any scheduled payments under this Agreement, the BEP, and any other plan, contract, program or otherwise, as such payments relate to the Executive, if the Company (or its affiliate) determines that such delay is necessary in order to comply with the requirements of Section 409A of the Internal Revenue Code. No such payment may be delayed beyond the date that is six (6) months following the Executive’s separation from service (as defined in Section 409A). At the end of such period of delay, the Executive will be paid the delayed payment amounts, plus interest for the period of any such delay. For purposes of the preceding sentence, interest shall be calculated using the six (6) month Treasury Xxxx rate in effect on the date on which the payment is delayed, and shall be compounded daily. If the conditions of the severance exception under Treasury Regulation Section 1.409A-1(b)(9)(iii) (or any successor Regulation thereto) are satisfied, payment of benefits shall not be delayed for six (6) months following termination of employment to the extent permitted under the severance exception.

  • CONTRIBUTION IN THE EVENT OF JOINT LIABILITY (a) To the fullest extent permissible under applicable law, if the indemnification, hold harmless and/or exoneration rights provided for in this Agreement are unavailable to Indemnitee in whole or in part for any reason whatsoever, the Company, in lieu of indemnifying, holding harmless or exonerating Indemnitee, shall pay, in the first instance, the entire amount incurred by Indemnitee, whether for judgments, liabilities, fines, penalties, amounts paid or to be paid in settlement and/or for Expenses, in connection with any Proceeding without requiring Indemnitee to contribute to such payment, and the Company hereby waives and relinquishes any right of contribution it may have at any time against Indemnitee.

  • Payment of Withholding Taxes Prior to any event in connection with the Award (e.g., vesting) that the Company determines may result in any tax withholding obligation, whether United States federal, state, local or non-U.S., including any social insurance, employment tax, payment on account or other tax-related obligation (the “Tax Withholding Obligation”), the Grantee must arrange for the satisfaction of the minimum amount of such Tax Withholding Obligation through:

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