Common use of Interest and Right of Set Off Clause in Contracts

Interest and Right of Set Off. Any sum which becomes payable under any of the provisions of this Agreement by one Party to the other Party shall, if the same be not paid within the time allowed for payment thereof, shall be deemed to be a debt owed by the Party respons ible for payment thereof to the Party entitled to receive the same. Such sum shall until payment thereof carry interest @ SBI PLR as on 31st March 2009 + 4% per annum, from the due date for payment thereof until the same is paid to or otherwise realised b y the Party entitled to the same. Without prejudice to any other right or remedy that may be available under this Agreement or otherwise under law, the Party entitled to receive such amount shall also have the right of set off. Provided the stipulation re xxxxxxx interest for delayed payments contained in this Article

Interest and Right of Set Off. Any sum which becomes payable under any of the provisions pr ovisions of this the Agreement by one Party to the other Party shall, if the same be not paid within the time allowed for payment thereof, shall be deemed to be a debt owed by the Party respons ible responsible for payment thereof to the Party entitled to receive the samesa me. Such sum shall until payment thereof carry interest @ SBI PLR as on 31st March 2009 + 4% per annum, from the due date for payment thereof until the same is paid to or otherwise realised b y by the Party entitled to the same. Without prejudice to any other right or remedy that may be available under this the Agreement or otherwise under law, the Party entitled to receive such amount shall also have the right of set off. Provided the stipulation re xxxxxxx regarding interest for delayed payments contained in this ArticleArtic le

Interest and Right of Set Off. Any sum which becomes payable under any of the provisions of this Agreement by one Party to the other Party shall, if the same be not paid within the time allowed for payment thereof, shall be deemed to be a debt owed by the Party respons ible responsible for payment thereof to the Party entitled to receive the same. Such sum shall until payment thereof carry interest @ SBI PLR as on 31st March 2009 + 4% per annum, from the due date for payment thereof until the same is paid to or otherwise realised b y by the Party entitled to the same. Without prejudice to any other right or remedy that may be available under this Agreement or otherwise under law, the Party entitled to receive such amount shall also have the right of set off. Provided the stipulation re xxxxxxx regarding interest for delayed payments contained in this Article