Common use of INTEREST ON DELAYED PAYMENT Clause in Contracts

INTEREST ON DELAYED PAYMENT. In cases of any default in making any payment due in terms of this Agreement by any Party to the other Party, the defaulting Party shall be liable to pay interest at the Interest Rate on the total sum outstanding and for the entire period for which the payment has remained over-due. Without prejudice to the foregoing, in the event the Purchaser fails to pay the overdue amount along with the interest within 30 (thirty) days, the Seller shall be entitled to invoke the Performance Security and/ or the Financial Coverage BG and suspend Coal supplies in accordance with Clause 14. For removal of doubts, it is clarified that it shall be permissible for the Seller to adjust or recover the interest due in terms of this Clause from the Performance Security and/ or the Financial Coverage BG.

INTEREST ON DELAYED PAYMENT. In cases of any default in making any payment due in terms of this Agreement by any Party to the other Party, the defaulting Party shall be liable to pay interest at the Interest Rate on the total sum outstanding and for the entire period for which the payment has remained over-due. Without prejudice to the foregoing, in the event the Purchaser fails to pay the overdue amount along with the interest within 30 60 (thirtysixty) days, the Seller shall be entitled to invoke the Performance Security and/ or adjust the Financial Coverage BG same against the Advance Payment and suspend Coal supplies in accordance with Clause 14. For removal of doubts, it is clarified that it shall be permissible for the Seller to adjust or recover the interest due in terms of this Clause from the Performance Security and/ or the Financial Coverage BGAdvance Payment.

INTEREST ON DELAYED PAYMENT. In cases of any default in making any payment due in terms of this Agreement by any Party to the other Party, the defaulting Party shall be liable to pay interest at the Interest Rate on the total sum outstanding and for the entire period for which the payment has remained over-due. Without prejudice to the foregoing, in the event the Purchaser fails to pay the overdue amount along with the interest within 30 60 (thirtysixty) daysdays , the Seller shall be entitled to invoke the Performance Security and/ or adjust the Financial Coverage BG same against the Advance Payment and suspend Coal supplies in accordance with Clause 14. For removal of doubts, it is clarified that it shall be permissible for the Seller to adjust or recover the interest due in terms of this Clause from the Performance Security and/ or the Financial Coverage BGAdvance Payment.

INTEREST ON DELAYED PAYMENT. ‌ In cases of any default in making any payment due in terms of this Agreement by any Party to the other Party, the defaulting Defaulting Party shall be liable to pay interest at the Interest Rate on the total sum outstanding and for the entire period for which the payment has remained over-over- due. Without prejudice to the foregoing, in the event the Purchaser fails to pay the overdue amount along with the interest within 30 thirty (thirty30) days, the Seller shall be entitled to invoke the Performance Security and/ or the Financial Coverage BG and suspend Coal supplies in accordance with Clause 1415. For removal of doubts, it is clarified that it shall be permissible for the Seller to adjust or recover the interest due in terms of this Clause from the Performance Security and/ or the Financial Coverage BG.

INTEREST ON DELAYED PAYMENT. In cases of any default in making any payment due in terms of this Agreement by any Party to the other Party, the defaulting Party shall be liable to pay interest at the Interest Rate on the total sum outstanding and for the entire period for which the payment has remained over-due. Without prejudice to the foregoing, in the event the Purchaser fails to pay the overdue amount along with the interest within 30 (thirty) days, the Seller shall be entitled to invoke the Performance Security and/ or adjust the Financial Coverage BG same against the Advance Payment and suspend Coal supplies in accordance with Clause 14. For removal of doubts, it is clarified that it shall be permissible for the Seller to adjust or recover the interest due in terms of this Clause from the Performance Security and/ or the Financial Coverage BGAdvance Payment.