Common use of Interest and collection charge on late payment Clause in Contracts

Interest and collection charge on late payment. (a) If any Owner fails to pay the Manager any amount payable under this Deed within 30 days of demand, he shall pay to the Manager: (i) interest at 2% per annum above the prime rate from time to time specified by The Hongkong and Shanghai Banking Corporation Limited in respect of any payment in arrears from and including the due date to and including the date of payment; and (ii) a collection charge not exceeding 10% of the amount due to cover the cost (in addition to legal costs (on a solicitor and own client basis) of proceedings involved in recovering them) of the extra work occasioned by the default. (i) All monies paid to the Manager by way of interest and collection charges by the Owner of any Flat shall be credited to the Special Fund (Towers). (ii) All monies paid to the Manager by way of interest and collection charges by the Owner of any House shall be credited to the Special Fund (Houses). (iii) All monies paid to the Manager by way of interest and collection charges by the Owner of any Parking Space shall be credited to the Special Fund (Parking).

Interest and collection charge on late payment. (a) If any Owner fails to pay the Manager any amount payable under this Deed within 30 days of demand, he shall pay to the Manager: (i) interest at 2% per annum above the prime rate from time to time specified by The Hongkong and Shanghai Banking Corporation Limited in respect of any payment in arrears from and including the due date to and including the date of payment; and (ii) a collection charge not exceeding 10% of the amount due to cover the cost (in addition to legal costs (on a solicitor and own client basis) of proceedings involved in recovering themproceedings) of the extra work occasioned by the default. (i) All monies paid to the Manager by way of interest and collection charges by the Owner of any Flat shall be credited to the Special Fund (TowersFlats). (ii) All monies paid to the Manager by way of interest and collection charges by the Owner of any House Ground Floor Shop shall be credited to the Special Fund (HousesGround Floor Shops). (iii) All monies paid to the Manager by way of interest and collection charges by the Owner of any Parking Space Upper Floor Shop shall be credited to the Special Fund (ParkingUpper Floor Shops).

Interest and collection charge on late payment. (a) If any Owner fails to pay the Manager any amount payable under this Deed within 30 days of demand, he shall pay to the Manager: (i) interest at 2% per annum above the prime rate from time to time specified by The Hongkong and Shanghai Banking Corporation Limited in respect of any payment in arrears from and including the due date to and including the date of payment; and (ii) a collection charge not exceeding 10% of the amount due to cover the cost (in addition to legal costs (of proceedings on a solicitor and own client basis) of proceedings involved in recovering them) of the extra work occasioned by the default. (i) All monies paid to the Manager by way of interest and collection charges by the Owner of any Flat shall be credited to the Special Fund (TowersFlats). (ii) All monies paid to the Manager by way of interest and collection charges by the Owner of any House shall be credited to the Special Fund (Houses). (iii) All monies paid to the Manager by way of interest and collection charges by the Owner of any Parking Space shall be credited to the Special Fund (Parking). (iii) All monies paid to the Manager by way of interest and collection charges by the Owner of the Public Vehicle Park shall be credited to the Special Fund (Public Vehicle Park).

Interest and collection charge on late payment. (a) If any Owner fails to pay the Manager any amount payable under this Deed within 30 days of demand, he shall pay to the Manager: (i) interest at 2% per annum above the prime rate from time to time specified by The Hongkong and Shanghai Banking Corporation Limited in respect of any payment in arrears from and including the due date to and including the date of payment; and (ii) a collection charge not exceeding 10% of the amount due to cover the cost (in addition to legal costs (on a solicitor and own client basis) of proceedings involved in recovering them) of the extra work occasioned by the default. (i) All monies paid to the Manager by way of interest and collection charges (if any) by the Owner of any Flat Residential Unit shall be credited to the Special Fund (TowersResidential). (ii) All monies paid to the Manager by way of interest and collection charges by the Owner of any House shall be credited to the Special Fund (Houses). (iii) All monies paid to the Manager by way of interest and collection charges by the Owner of any Parking Space shall be credited to the Special Fund (Parking). (iii) All monies paid to the Manager by way of interest and collection charges by the Owner of the Commercial Accommodation shall be credited to the Special Fund (Commercial).

Interest and collection charge on late payment. (a) If any Owner (except the Owner of the Government Accommodation) fails to pay the Manager any amount payable under this Deed within 30 days of demand, he shall pay to the Manager: (i) interest at 2% per annum above the prime rate from time to time specified by The Hongkong and Shanghai Banking Corporation Limited in respect of any payment in arrears from and including the due date to and including the date of payment; and (ii) a collection charge not exceeding 10% of the amount due to cover the cost (in addition to legal costs (on a solicitor and own client basis) of proceedings involved in recovering themproceedings) of the extra work occasioned by the default. (i) All monies paid to the Manager by way of interest and collection charges by the Owner of any Flat shall be credited to the Special Fund (TowersFlats). (ii) All monies paid to the Manager by way of interest and collection charges by the Owner of any House shall be credited to the Special Fund (Houses). (iii) All monies paid to the Manager by way of interest and collection charges by the Owner of any Parking Space shall be credited to the Special Fund (Parking). (iii) All monies paid to the Manager by way of interest and collection charges by the Owner of a Shop shall be credited to the Special Fund (Shops).