Interest on Late Fees Sample Clauses

Interest on Late Fees. 1. DOE will notify the Purchaser of amounts due only when unpaid or underpaid by the dates specified in paragraph B above. Interest will be levied according to the fol- lowing formula: Interest=Unpaid balance due to DOE for as- signed three month period × Quarterly Treasury rate plus six percent (6%) × Num- ber of months late including month of pay- ment (fractions rounded up to whole months) ÷ 12
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Interest on Late Fees. The licensor may also include a provision that late payments accrue interest. The interest remedy can be especially helpful to the licensor in connection with disputes over large lump sum payments. A customer that has failed to make such a payment may be incentivized to settle quickly and fairly if a significant interest charge is accruing over the course of a dispute (which, if drawn out to litigation, could last several years). Self-Help A controversial and risky remedy is a set of remedies referred to as “self-help.” In the software licensing context, licensor self-help refers to electronic self- help where the software contains a “key” or other mechanism that (a) automatically disables the software after the agreed-upon term of the software license agreement or (b) the licensor can use to disable customer’s ability to use the software if, in licensor’s opinion, the customer has breached the software license agreement. If a licensor includes such disabling devices in its software, it should reserve the right to do so in its form software license agreement. As a practical matter, these self-help remedies are very powerful for the licensor because they can help ensure that unauthorized use of the software will cease. Still, they are also very risky because exercising such measures could invite claims or counterclaims from the customer.
Sample 1
Interest on Late Fees. 1. Charges for late payments or underpayments will be based on the amount due and calculated to reflect DOE’s lost earnings on receipts not received in accordance within the time periods specified in paragraph B.1.of Article VIII. The amount of DOE’s lost earnings will be calculated from the date the payment was due to the actual date payment was received by DOE.
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Related to Interest on Late Fees

  • Interest on Late Payments a. State Agencies The payment of interest on certain payments due and owed by Agency may be made in accordance with Article 11-A of the State Finance Law (SFL §179-d et. Seq.) and Title 2 of the New York Code of Rules and Regulations, Part 18 (Implementation of Prompt Payment Legislation -2 NYCRR §18.1 et seq.).

  • Interest on late payment Subject to clause 9.7, the Trader or the Distributor (as the case may be) must pay any Tax Invoice issued under this clause 9. If any part of a Tax Invoice that is properly due in accordance with this Agreement is not paid by the due date, Default Interest may be charged on the outstanding amount for the period that the Tax Invoice remains unpaid.

  • INTEREST ON ARREARS Any interest instalment unpaid on maturity shall yield interest, of right and without formal notice, at the same rate as applicable to the portion of the loan whose interest is unpaid on maturity, such interest being payable to the Lender on request.

  • Interest on Overdue Amounts 22.1 Any Licence Fee which is payable and remains unpaid for a period in excess of 30 (thirty) days from the date of the invoice, will attract interest at the current legal rate, calculated in accordance with the interest rate prescribed by the Minister of Justice in accordance with the Prescribed Rate of Interest Act 55 of 1975, as amended.

  • Late Fees (Check one) ☐ ☐ A late fee will be charged if Rent is not paid on time. Rent paid after the day of each month will be deemed as late; and if Rent is not paid within days after such due date, Subtenant agrees to pay: (Check one) a set late charge of $ . ☐ % of the balance due per day for each day that Rent is late. ☐ A late fee will NOT be charged. ☐ Su Bounced Checks: btenant agrees to pay $ for each dishonored bank check.

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