Common use of Delayed Payments Clause in Contracts

Delayed Payments. Any delay or default on the part of the Allottee to pay the amounts payable by him to the Promoter under this Agreement on the due dates as stipulated, shall be construed as a breach committed by the Allottee and in event of such breach, the Promoter shall be entitled to charge interest as may be prescribed under Applicable Laws for the period of delay.

Delayed Payments. Any delay or default on the part of the Allottee to pay the amounts payable by him to the Promoter Owner under this Agreement on the due dates as stipulated, shall be construed as a breach committed by the Allottee and in event of such breach, the Promoter Owner shall be entitled to charge interest as may be prescribed under Applicable Laws for the period of delay.