Failure to Pay Timely Sample Clauses
The "Failure to Pay Timely" clause defines the consequences and procedures that apply when a party does not make payments by the agreed-upon deadlines. Typically, this clause outlines the imposition of late fees, interest charges, or the right for the non-breaching party to suspend services or terminate the agreement if payments remain outstanding. By clearly specifying the repercussions of late payments, this clause encourages timely financial performance and protects the receiving party from cash flow disruptions.
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Failure to Pay Timely. The customer is in default after expiry of the payment date. The carrier will send a payment reminder after the expiry of this date, and gives the customer the opportunity to pay within five working days of receiving this reminder. If the outstanding amount is still not paid after the expiry of the payment reminder, the carrier is entitled to charge interest from the expiry of the payment date. This rate equals the statutory rate plus 3% per annum on the amount owed. If the customer fails to pay the amount due after the summons, the carrier is entitled to increase this amount with the collection costs. These collection costs include both judicial and extrajudicial costs. Extrajudicial costs shall be: 15% over the first € 2,500.00 of the claim with a minimum of € 40.00; 10% on the next € 2,500.00 of the claim; 5% on next € 5,000.00 of the claim; 1% over the next € 15,000.00 of the claim, unless the customer demonstrates that the carrier suffers less damage. Complaints about billing need to be, preferably in writing and clearly defined and documented, sent in promptly to the carrier, after receipt of the invoice.
Failure to Pay Timely. In the event that Intersections fails to timely pay in whole or in part, any invoice presented by Equifax hereunder Equifax, reserves the right to (i) suspend the Credit Monitoring Batch Services until all overdue amounts have been paid and or (ii) change Intersections' payment terms to require payment in advance. Intersections' repeated or continued failure to timely pay invoices when due, may result in Equifax exercising its rights of termination under Section 8.2.
Failure to Pay Timely. If any Fee has not been
Failure to Pay Timely. (zz) If any payment of Charges has not been received by R1 within thirty (30) days after becoming due in accordance with Section 11.3, then, in addition to all other remedies that may be available, R1 may charge interest on the past due amount at a rate equal to the lesser of: (i) [***] per month (which is an annual rate of [***]); and (ii) the highest rate permitted under Applicable Law. (aaa) If any payment of Charges has not been received by R1 within [***] days after becoming due in accordance with the payment terms in Section 11.3, then, in addition to all other remedies that may be available, R1 may suspend performance for all Services until payment has been made in full.
Failure to Pay Timely. In the event Client fails to pay or fund any amount due under this Agreement as set forth herein, in addition to all other rights and remedies under this Agreement and at Law and in equity, PBM shall have the following right and remedies: