Common use of Delay or Failure to Pay Clause in Contracts

Delay or Failure to Pay. All outstanding fees and other amounts (except those disputed in writing in good faith before the payment due date) are subject to a late fee equal to the lesser of: (i) 18% per annum (or 1.5% per month); and (ii) the maximum amount permitted by Law, in each case calculated daily in arrears, as well as costs of collection (including legal fees and costs).