Common use of Interest for Delay Clause in Contracts

Interest for Delay. If the Subscriber does not pay the Service Fee or any other payment (excluding interest for delay) under the Agreement by the due date of payment, the Subscriber shall, with respect to the period commencing from the day immediately after the due date of payment to the before day when the payment is made, pay the amount of money obtained by multiplying the such unpaid amount by 14.6% per annum (prorated on the basis of a 365-day year). XII.5 Acceleration If any of the following events occur, the Service Fee and any other payment to be made under the Agreement shall become due and payable, and in such case the Subscriber shall pay such payment to SORACOM immediately. Unless the following event is resolved, upon request of SORACOM, the Subscriber shall immediately perform the above payment obligations. (i) If SORACOM deems that the Subscriber is insolvent; (ii) If a procedure of bankruptcy, company reorganization, civil rehabilitation and other insolvency procedure based on laws and regulations is commenced against the Subscriber; (iii) If a xxxx or check issued by the Subscriber is dishonored; (iv) If an order or notice of provisional attachment, provisional disposition, provisional disposition for provisional registration, preservative attachment, attachment, compulsory execution, preservative disposition, petition of auction sale or disposition for nonpayment of tax and public charges has been issued with respect to the assets owned by the Subscriber; (v) If a supervisory authority cancels the registration or notification necessary for Subscriber’s telecommunications business; (vi) If the Subscriber discontinues the whole of its telecommunication business; (vii) If the Subscriber is ceases to exist; or (viii) If any event that significantly impedes the Subscriber’ business occurs.

Interest for Delay. If the Subscriber does not pay the Service Fee or any other payment (excluding interest for delay) under the Agreement by the due date of payment, the Subscriber shall, with respect to the period commencing from the day immediately after the due date of payment to the before day when the payment is made, pay the amount of money obtained by multiplying the such unpaid amount by 14.6% per annum (prorated on the basis of a 365-day year). XII.5 Acceleration If any of the following events occur, the Service Fee and any other payment to be made under the Agreement shall become due and payable, and in such case the Subscriber shall pay such payment to SORACOM immediately. Unless the following event is resolved, upon request of SORACOM, the Subscriber shall immediately perform the above payment obligations. (i) If SORACOM deems that the Subscriber is insolvent; (ii) If a procedure of bankruptcy, company reorganization, civil rehabilitation and other insolvency procedure based on laws and regulations is commenced against the Subscriber;and (iii) If a xxxx or check issued by the Subscriber is dishonored; (iv) If an order or notice of provisional attachment, provisional disposition, provisional disposition for provisional registration, preservative attachment, attachment, compulsory execution, preservative disposition, petition of auction sale or disposition for nonpayment of tax and public charges has been issued with respect to the assets owned by the Subscriber; (v) If a supervisory authority cancels the registration or notification necessary for Subscriber’s telecommunications business; (vi) If the Subscriber discontinues the whole of its telecommunication business; (vii) If the Subscriber is ceases to exist; or (viii) If any event that significantly impedes the Subscriber’ business occurs.