Common use of Effect of Late Payments Clause in Contracts

Effect of Late Payments. If the Purchaser fails to pay the full amount due with respect to any invoice (other than any amounts that are subject to a bona fide dispute) after the date such invoice becomes due, Manufacturer shall be entitled (without prejudice to any other right or remedy it may have) to: (a) cancel or suspend any further deliveries of the Products to the Purchaser under any Order; and (b) charge the Purchaser interest on the unpaid invoice at the rate provided in Section 6.4 from the date the payment became due until actual payment is made (irrespective of whether the date of payment is before or after any judgment or award in respect of the same).

Effect of Late Payments. If the Purchaser fails to pay the full amount due with respect to any invoice (other than any amounts that are subject to a bona fide dispute) after the date such invoice becomes due, Manufacturer Supplier shall be entitled (without prejudice to any other right or remedy it may have) to: (a) cancel or suspend any further deliveries of the Products to the Purchaser under any Order; and (b) charge the Purchaser interest on the unpaid invoice at the rate provided in Section 6.4 from the date the payment became due until actual payment is made (irrespective of whether the date of payment is before or after any judgment or award in respect of the same).