Delayed Payments. The Parties hereto agree that payments due from one Party to the other Party under the provisions of this Agreement shall be made within the period set forth therein, and if no such period is specified, within 30 (thirty) days of receiving a demand along with the necessary particulars. Unless otherwise specified in this Agreement, in the event of delay beyond such period, the defaulting Party shall pay interest for the period of delay calculated at a rate equal to 5% (five per cent) above the Bank Rate, and recovery thereof shall be without prejudice to the rights of the Parties under this Agreement including Termination thereof.
Appears in 14 contracts
Samples: Power Supply Agreement, Procurement Agreement, Procurement Agreement
Delayed Payments. The Parties hereto agree that payments due from one Party to the other Party under the provisions of this Agreement shall be made within the period set forth therein, and if no such period is specified, within 30 (thirty) days of receiving a demand along with the necessary particulars. Unless otherwise specified in this Agreement, in In the event of delay beyond such period, the defaulting Party shall pay interest for the period of delay calculated at a rate equal to 5% (five per cent) above the Bank Rate, and recovery thereof shall be without prejudice to the rights of the Parties under this Agreement including Termination thereof.
Appears in 6 contracts
Samples: Concession Agreement, Concession Agreement, Concession Agreement
Delayed Payments. The Parties hereto agree that payments due from one Party to the other Party under the provisions of this Agreement shall be made within the period set forth therein, and if no such period is specified, within 30 (thirty) days of receiving a demand along with the necessary particulars. Unless otherwise specified in this Agreement, in In the event of delay beyond such period, the defaulting Party shall pay interest for the period of delay calculated at a rate equal to 5% (five the Standard Interest per cent) above the Bank Rateyear, and recovery thereof shall be without prejudice to the rights of the Parties under this Agreement including Termination thereof.
Appears in 6 contracts
Samples: Power Purchase Agreement, Power Purchase Agreement, Energy Supply and Purchase Agreement
Delayed Payments. The Parties hereto agree that payments due from one Party to the other Party under the provisions of this Agreement shall be made within the period set forth therein, and if no such period is specified, within 30 15 (thirtyfifteen) days of receiving a demand along with the necessary particulars. Unless otherwise specified in this Agreement, in In the event of delay beyond such period, the defaulting Party shall pay interest penalty for the period of delay calculated at a rate equal to 5SBI Base Rate + 2% (five two percent) per cent) above the Bank Rateannum, and recovery thereof shall be without prejudice to the rights of the Parties under this Agreement including Termination thereof.
Appears in 5 contracts
Samples: Operation & Maintenance Agreement, Concession Agreement, Operation & Maintenance Agreement
Delayed Payments. The Parties hereto agree that payments due from one Party to the other Party under the provisions of this Agreement shall be made within the period set forth therein, and if no such period is specified, within 30 (thirty) days of receiving a demand along with the necessary particulars. Unless otherwise specified in this Agreement, in In the event of delay beyond such period, save and except otherwise expressly provided in this Agreement, the defaulting Party shall pay interest @ SBI PLR per annum for the period of delay calculated at a rate equal to 5% (five per cent) above the Bank Rate, for such amount and recovery thereof shall be without prejudice to the rights of the Parties under this Agreement including Termination thereof.
Appears in 3 contracts
Samples: Data Entry Services Provisioning Agreement, Service Agreement, Service Agreement
Delayed Payments. The Parties hereto agree that payments due from one Party to the other Party under the provisions of this Agreement shall be made within the period set forth therein, and if no such period is specified, within 30 (thirtyThirty) days of receiving a demand along with the necessary particulars. Unless otherwise specified in this Agreement, in In the event of delay beyond such period, the defaulting Party shall pay interest for the period of delay calculated at a rate equal to 52% (five two per cent) above the Bank SBI Base Rate, and recovery thereof shall be without prejudice to the rights of the Parties under this Agreement including Termination thereof.
Appears in 3 contracts
Samples: Shelter Management Agreement, Shelter Management Agreement, Shelter Management Agreement
Delayed Payments. The Parties hereto agree that payments due from one Party to the other Party under the provisions of this Agreement shall be made within the period set forth therein, and if no such period is specified, within 30 (thirty) days of receiving a demand along with the necessary particulars. Unless otherwise specified in this Agreement, in the event of delay beyond such period, the defaulting Party shall pay interest for the period of delay calculated at a rate equal to 5% (five per cent) above the Bank RateRate (standard RBI rates), and recovery thereof shall be without prejudice to the rights of the Parties under this Agreement including Termination thereof.
Appears in 3 contracts
Samples: Procurement Agreement, Procurement Agreement, Procurement Agreement
Delayed Payments. The Parties hereto agree that payments due from one Party to the other Party under the provisions of this Agreement shall be made within the period set forth therein, and if no such period is specified, within 30 (thirty) days of receiving a demand along with the necessary particulars. Unless otherwise specified in this Agreement, in In the event of delay beyond such period, the defaulting Party shall pay interest for the period of delay calculated at a rate equal to 5% Base Rate plus 2 (five per centtwo) above the Bank Ratepercent, calculated at quarterly rests, and recovery thereof shall be without prejudice to the rights of the Parties under this Agreement including Termination thereof.
Appears in 2 contracts
Samples: Construction Contract, Contract Agreement
Delayed Payments. The Parties hereto agree that payments due from one Party to the other Party under the provisions of this Agreement shall be made within the period set forth therein, and if no such period is specified, within 30 (thirty) days of receiving a demand along with the necessary particulars. Unless otherwise specified in this Agreement, in In the event of delay beyond such period, the defaulting Party shall pay interest for the period of delay calculated at a rate equal to 53% (five three per cent) above the Bank Base Rate, and recovery thereof shall be without prejudice to the rights of the Parties under this Agreement including Termination thereof.
Appears in 2 contracts
Samples: Development Agreement, Development Agreement
Delayed Payments. 32.4.1 The Parties hereto agree that payments due from one Party to the other Party under the provisions of this Agreement shall be made within the period set forth therein, and if no such period is specified, within 30 (thirty) days of receiving a demand along with the necessary particulars. Unless otherwise specified in this Agreement, in In the event of delay beyond such period, the defaulting Party shall pay interest for the period of delay calculated at a rate equal to 53% (five three per cent) above the Bank Rate, and recovery thereof shall be without prejudice to the rights of the Parties under this Agreement including Termination thereof.
Appears in 2 contracts
Samples: Concession Agreement, Concession Agreement
Delayed Payments. The Parties hereto agree that payments due from one Party to the other Party under the provisions of this Agreement shall be made within the period set forth therein, therein and if no such period is specified, within 30 15 (thirtyfifteen) days of receiving a demand along with the necessary particulars. Unless otherwise specified in this Agreement, in In the event of delay beyond such period, the defaulting Party shall pay interest for the period of delay calculated at a rate equal to 5% (five per cent) [●] above the Bank Rate, and recovery thereof shall be without prejudice to the rights of the Parties under this Agreement including Termination thereof.
Appears in 2 contracts
Samples: Public Private Partnership Agreement, Concession Agreement
Delayed Payments. The Parties hereto agree that payments due from one Party to the other Party under the provisions of this Agreement shall be made within the period set forth therein, and if no such period is specified, within 30 (thirty) days of receiving a demand along with the necessary particulars. Unless otherwise specified in this Agreement, in In the event of delay beyond such period, the defaulting Party shall pay interest for the period of delay calculated at a rate equal to 5% (five per cent) above the Bank Base Rate, and recovery thereof shall be without prejudice to the rights of the Parties under this Agreement including Termination thereof.
Appears in 1 contract
Samples: Development Agreement
Delayed Payments. 14.4.1 The Parties hereto agree that payments due from one Party to the other Party under the provisions of this Agreement shall be made within the period set forth therein, and if no such period is specified, within 30 45 (thirtyforty five) days of receiving a demand along with the necessary particulars. Unless otherwise specified in this Agreement, in In the event of delay beyond such period, the defaulting Party shall pay simple interest for the period of delay calculated at a rate equal to 53% (five three per cent) above the Bank Rate, and recovery thereof shall be without prejudice to the rights of the Parties under this Agreement including Termination thereof.
Appears in 1 contract
Samples: Concession Agreement
Delayed Payments. The Parties hereto agree that payments due from one Party to the other Party under the provisions of this Agreement shall be made within the period set forth therein, therein and if no such period is specified, within 30 15 (thirtyfifteen) days of receiving a demand along with alongwith the necessary particulars. Unless otherwise specified in this Agreement, in In the event of delay beyond such period, the defaulting Party shall pay interest for the period of delay calculated at a rate equal to 52% (five per cent) above the Bank RateSBI PLR, and recovery thereof shall be without prejudice to the rights of the Parties under this Agreement including Termination thereof.
Appears in 1 contract
Samples: Concession Agreement
Delayed Payments. The Parties hereto agree that payments due from one Party to the other Party under the provisions of this Agreement shall be made within the period set forth therein, and if no such period is specified, within 30 (thirty) days of receiving a demand along with the necessary particulars. Unless otherwise specified in this Agreement, in the event of delay beyond such period, the defaulting Party shall pay interest for the period of delay calculated at a rate equal to 51.25% (One point two five per cent) above the Bank Rate, and recovery thereof shall be without prejudice to the rights of the Parties under this Agreement including Termination thereof.
Appears in 1 contract
Samples: Power Procurement Agreement
Delayed Payments. The Parties hereto agree that payments due from one Party to the other Party under the provisions of this Agreement shall be made within the period set forth therein, and if no such period is specified, within 30 (thirty) days of receiving a demand along with the necessary particulars. Unless otherwise specified in this Agreement, in In the event of delay beyond such period, the defaulting Party shall pay interest for the period of delay calculated at a rate equal to 5% Base Rate plus 5 (five per centfive) above the Bank Ratepercent, calculated at quarterly rests, and recovery thereof shall be without prejudice to the rights of the Parties under this Agreement including Termination thereof.
Appears in 1 contract
Samples: Demonstration Agreement
Delayed Payments. The Parties hereto agree that payments due from one Party to the other Party under the provisions of this Agreement shall be made within the period set forth therein, and if no such period is specified, within 30 (thirty) days of receiving a demand along with the necessary particulars. Unless otherwise specified in this Agreement, in In the event of delay beyond delaybeyond such period, the defaulting Party shall pay interest for the period of delay calculated at a rate equal to 53% (five three per cent) above the Bank RatePrime Lending Rate (PLR), and recovery thereof shall be without prejudice to the rights therights of the Parties under this Agreement including Termination thereof.
Appears in 1 contract
Samples: Concession Agreement
Delayed Payments. The Parties hereto agree that payments due from one Party to the other Party under the provisions of this Agreement shall be made within the period set forth therein, therein and if no such period is specified, within 30 15 (thirtyfifteen) days of receiving a demand along with the necessary particulars. Unless otherwise specified in this Agreement, in In the event of delay beyond such period, the defaulting Party shall pay interest for the period of delay calculated at a rate equal to 5% (five per cent) above the Bank Rate, and recovery thereof shall be without prejudice to the rights of the Parties under this Agreement including Termination thereof.
Appears in 1 contract
Samples: Concession Agreement
Delayed Payments. The Parties hereto agree that payments due from one Party to the other Party under the provisions of this Agreement shall be made within the period set forth therein, and if no such period is specified, within 30 (thirty) days of receiving a demand along with the necessary particulars. Unless otherwise specified in this Agreement, in In the event of delay beyond delaybeyond such period, the defaulting Party shall pay interest for the period of delay calculated at a rate equal to 53% (five three per cent) above the Bank RatePrime Lending Rate (PLR), and recovery thereof shall be without prejudice to the rights of the Parties under this Agreement including Termination thereof.
Appears in 1 contract
Samples: Concession Agreement
Delayed Payments. The Parties hereto agree that payments due from one Party to the other Party under the provisions of this Agreement shall be made within the period set forth therein, and if no such period is specified, within 30 (thirty) days of receiving a demand along with the necessary particulars. Unless otherwise specified in this Agreement, in In the event of delay beyond such period, the defaulting Party shall pay interest for the period of delay calculated at a the rate equal to 5of 4% (five per centfour percent) above the Bank Rate, and recovery thereof shall be without prejudice to the rights of the Parties under this Agreement including Termination thereof.
Appears in 1 contract
Delayed Payments. The Parties hereto agree that payments due from one Party to the other Party under the provisions of this Agreement shall be made within the period set forth therein, therein and if no such period is specified, within 30 15 (thirtyfifteen) days of receiving a demand along with the necessary particulars. Unless otherwise specified in this Agreement, in In the event of delay beyond such periodperiod and unless any other recourse specifically mentioned for such delay in the Agreement, the defaulting Party shall pay interest for the period of delay calculated at a rate equal to 51% (five one per cent) above the Bank Rate, and recovery thereof shall be without prejudice to the rights of the Parties under this Agreement including Termination thereof.
Appears in 1 contract
Samples: Concession Agreement
Delayed Payments. The Parties hereto agree that payments due from one Party to the other Party under the provisions of this Agreement shall be made within the period set forth therein, therein and if no such period is specified, within 30 15 (thirtyfifteen) days of receiving a demand along with the necessary particulars. Unless otherwise specified in this Agreement, in In the event of delay beyond such period, the defaulting Party shall pay interest for the period of delay calculated at a rate equal to 515% (five fifteen per cent) above the Bank Rateper annum, and recovery thereof shall be without prejudice to the rights of the Parties under this Agreement including Termination thereof.
Appears in 1 contract
Samples: Operation Services Agreement
Delayed Payments. The Parties hereto agree that payments due from one Party to the other Party under the provisions of this Agreement shall be made within the period set forth therein, and if no such period is specified, within 30 (thirty) days of receiving a demand along with the necessary particulars. Unless otherwise specified in this Agreement, in In the event of delay beyond such period, the defaulting Party shall pay interest for the period of delay calculated at a rate equal to 5% (five per cent) above the Bank Rate, and recovery thereof shall be without prejudice to the rights of the Parties under this Agreement including Termination thereof.
Appears in 1 contract
Samples: Concession Agreement
Delayed Payments. The Parties hereto agree that payments due from one Party to the other Party under the provisions of this Agreement shall be made within the period set forth therein, and if no such period is specified, within 30 15 (thirtyfifteen) days of receiving a demand along with the necessary particulars. Unless otherwise specified in this Agreement, in In the event of delay beyond such period, the defaulting Party shall pay interest for the period of delay calculated at a rate equal to 5% (five per cent) above the Bank Rate, and recovery thereof shall be without prejudice to the rights of the Parties under this Agreement including Termination thereof.
Appears in 1 contract
Samples: Concession Agreement
Delayed Payments. The Parties hereto agree that payments due from one Party to the other Party under the provisions of this Agreement shall be made within the period set forth therein, and if no such period is specified, within 30 (thirty) days of receiving a demand along with the necessary particulars. Unless otherwise specified in this Agreement, in the event of delay beyond such period, the defaulting Party shall pay interest for the period of delay calculated at a rate equal to 51.25% (one point two five per cent) above the Bank Rate, and recovery thereof shall be without prejudice to the rights of the Parties under this Agreement including Termination thereof.
Appears in 1 contract
Samples: Power Procurement Agreement
Delayed Payments. The Parties hereto agree that payments due from one Party to the other Party under the provisions of this Agreement shall be made within the period set forth therein, and if no such period is specified, within 30 45 (thirtyforty five) days of receiving a demand along with the necessary particulars. Unless otherwise specified in this Agreement, in In the event of delay beyond such period, save and except otherwise expressly provided in this Agreement, the defaulting Party shall pay interest for the period of delay calculated at a rate equal to 51% (five one per cent) above the Bank Rateper month of delay, and recovery thereof shall be without prejudice to the rights of the Parties under this Agreement including Termination thereof.
Appears in 1 contract
Samples: Service Agreement
Delayed Payments. The Parties hereto agree that payments due from one Party to the other Party under the provisions of this Agreement shall be made within the period set forth therein, and if no such period is specified, it shall be within 30 15 (thirtyfifteen) days of receiving a demand along with the necessary particulars. Unless otherwise specified in this Agreement, in In the event of delay beyond such the stipulated period, the defaulting Party shall pay interest penalty for the period of delay calculated at a rate equal to 5SBI Base Rate + 2% (five two percent) per cent) above the Bank Rateannum, and recovery thereof shall be without prejudice to the rights of the Parties under this Agreement including Termination thereof.
Appears in 1 contract
Samples: Concession Agreement
Delayed Payments. The Parties hereto agree that payments due from one Party to the other Party under the provisions of this Agreement shall be made within the period set forth therein, and if no such period is specified, within 30 (thirty) days of receiving a demand along with the necessary particulars. Unless otherwise specified in this Agreement, in In the event of delay beyond such period, the defaulting Party shall pay interest for the period of delay calculated at a rate equal to 5% (five per cent) above the Bank Annual Base Rate, and recovery thereof shall be without prejudice to the rights of the Parties under this Agreement including Termination thereof.
Appears in 1 contract
Samples: Development Agreement