Common use of Delinquency in Payment Clause in Contracts

Delinquency in Payment. (a) The governing body of the District shall provide for the punctual payment to the State of payments which become due under this contract. (b) 55 Upon every amount of money required to be paid by the District to the State pursuant to this contract which remains unpaid after it becomes due and payable, interest shall accrue at an annual rate equal to that earned by the Pooled Money Investment Fund, as provided in Government Code Sections 16480, et seq. calculated monthly on the amount of such delinquent payment from and after the due date until it is paid, and the District hereby agrees to pay such interest: provided, that no interest shall be charged to or be paid by the District unless such delinquency continues for more than thirty (30) days.

Delinquency in Payment. (a) The governing body of the District shall provide for the punctual payment to the State of payments which become due under this contract. (b) 55 Upon 55Upon every amount of money required to be paid by the District to the State pursuant to this contract which remains unpaid after it becomes due and payable, interest shall accrue at an annual rate equal to that earned by the Pooled Money Investment Fund, as provided in Government Code Sections 16480, et seq. calculated monthly on the amount of such delinquent payment from and after the due date until it is paid, and the District hereby agrees to pay such interest: provided, that 54 Amended: Amendments No. 3, 8, and 9 no interest shall be charged to or be paid by the District unless such delinquency continues for more than thirty (30) days.

Delinquency in Payment. (a) The governing body of the District shall provide for the punctual payment to the State of payments which become due under this contract. (b) 55 Upon 57Upon every amount of money required to be paid by the District to the State pursuant to this contract which remains unpaid after it becomes due and payable, interest shall accrue at an annual rate equal to that earned by the Pooled Money Investment Fund, as provided in Government Code Sections 16480, et seq. calculated monthly on the amount of such delinquent payment from and after the due date until it is paid, and the District hereby agrees to pay such interest: provided, that 56 Amended: Amendments No. 5, 7, 11, and 12 no interest shall be charged to or be paid by the District unless such delinquency continues for more than thirty (30) days.