Common use of Interest and Cost of Collection Clause in Contracts

Interest and Cost of Collection. In the event that a repayment plan for the payments described in 39 Section 3 cannot be mutually agreed upon, the district will demand full payment from the Educator. If 40 payment is not made in full within ten days of demand, the Educator agrees that any such sum shall 41 thereafter bear interest at the rate of ten percent (10%) per annum until paid, and that the Educator 42 shall pay all costs of collection, including reasonable attorney fees.

Appears in 2 contracts

Samples: Agreement, Agreement

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Interest and Cost of Collection. In the event that a repayment plan for the payments described in 39 Section 3 cannot be 34 mutually agreed upon, the district will demand full payment from the Educator. If 40 payment is not made in full within ten 35 days of demand, the Educator agrees that any such sum shall 41 thereafter bear interest at the rate of ten percent (10%) per 36 annum until paid, and that the Educator 42 shall pay all costs of collection, including reasonable attorney fees.

Appears in 2 contracts

Samples: Agreement, Agreement

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