Delays in Payments Clause Samples
The 'Delays in Payments' clause establishes the procedures and consequences when a party fails to make payments on time under the contract. Typically, this clause outlines the timeframe within which payments must be made, specifies any grace periods, and details penalties such as interest charges or suspension of services for late payments. Its core practical function is to incentivize timely payment, protect the receiving party from financial harm due to delays, and provide a clear mechanism for addressing late payments, thereby reducing disputes and uncertainty.
Delays in Payments. The City may decide, in its sole discretion, to withhold or delay any of the Progress Payments, in accordance with the Construction Act, if the City, acting reasonably, has a dispute with the General Contractor or Contractor in respect of construction of the Project, provided that in such case any costs, penalties, interest and other claims resulting from the withholding or delay of any of the Progress Payments will be shared by the Parties in accordance with their respective Project Cost Share as set forth in the definition of Project Cost Share in Section 1.1 herein.
Delays in Payments. 24.1 Without derogating from any other right or remedy available to the Lessor under law and under this Agreement, any arrear in payments owed from the Lessee to the Lessor under this Agreement and any arrear in the payments owed to the Management Company under the Management Agreement will require the Lessee to pay arrears interest on the amount in arrears in the rate of the arrears interest practiced by Bank Hapoalim Ltd. for overdrafts in debit accounts, as of the day on which the Lessee was required to pay the aforesaid amount and until the actual payment date.
24.2 In the case of a payment in arrears as stated, the order of imputation of the payments will be as follows: first, the amount on account of the interest, and then on account of the linkage differentials, and finally on account of the principal.
24.3 Any expense of the Lessor in the collection of any amount as stated will be charged to the Lessee, and the Lessee will be required to repay it, including legal expenses and attorney fees.
24.4 Any amount that the Lessee is charged under this Agreement to third parties that the Lessee has not paid after 30 days from the effective date for its payment will be considered to be a debt of the Lessee to the Lessor that is payable within 21 days from the Lessor’s written demand in addition to any other remedy available to the Lessor under this Agreement and under any law.
Delays in Payments. 8.10.1. If the Packaging Company delays the payment of any monetary obligation arising from the Contract, EPP shall have the right to refuse the registration of any new packagings of the Packaging Company in the EPP Packaging Register.
8.10.2. If the Packaging Company is late for more than 7 seven days with the performance of any two or more consecutive financial obligation arising from the Contract, EPP shall have the right to demand that the Packaging Company pay a delay penalty of 0.1% (nought point one percent) of the unpaid amount per each delayed day.
Delays in Payments. 6.1. In the event of a delay in payment, the Client will receive a reminder to settle the debt via email. The first payment reminder will be sent after the payment deadline has passed. If the Client fails to settle the payment after receiving the first reminder, additional reminders may be sent, followed by suspension of the Subscription Service or another Service, of which the Client will be informed by email.
6.2. If payment is not made within the additional designated period, the Subscription Service will be suspended. The Subscription Service will be suspended until any outstanding payments have been settled, up to a maximum of one year. After this period the Company will terminate the Account Agreement and the Subscription Agreement with the Client.
Delays in Payments. Delays in payment by either party shall be paid together with simple interest on such overdue amount at an annual rate equal to the Late Trust Payment Rate from the due date to the date of actual payment.
Delays in Payments. In case of late payments, you must pay the reasonable costs we incur to collect the overdue amounts owed to us, including reasonable attorneys' fees, as well as legal fees and costs, as allowed by current laws and regulations. We may suspend or cancel your Services if you do not pay in full and promptly after having sent you a reminder (with the threat of suspending or canceling the Services) to make the payment within an appropriate time frame. You can avoid suspension or cancellation by making the required payment within the appropriate timeframe set forth in the reminder. A different procedure will apply if the missing amount is marginal. If the missing amounts are less than two percent of the total invoice value, they will always be considered marginal. The suspension or cancellation of the Services for non-payment may result in the loss of access to your Xmartclock® account.