Common use of Event of Late Payment Clause in Contracts

Event of Late Payment. In the event of any delay in the payment due by the Customer under this Agreement, the Customer shall pay to the Bank a charity amount for late payment based on the calculation set out in item 4 of Schedule 3, to be donated (after deduction of all actual costs of the Bank in enforcing or collecting payment hereunder other than any opportunity costs or any indirect or consequential cost, loss or liability) to a charity on the Customer’s behalf.

Event of Late Payment. In the event of any delay in the payment due by the Customer under this AgreementAgreement the, the Customer shall pay to the Bank a charity amount for late payment based on the calculation set out in item 4 5 of Schedule 3, 3 to be donated (after deduction of all actual costs of the Bank in enforcing or collecting payment hereunder other than any opportunity costs or any indirect or consequential cost, loss or liability) to a charity on the Customer’s behalf.