Common use of Interest, Penalties, and Late Charges Clause in Contracts

Interest, Penalties, and Late Charges. i. Without waiving any other right of action available to the Authority in the event of default in payment of charges and fees hereunder, if the Contractor fails to make a payment when due and said failure continues for a consecutive period of thirty (30) days, late charges will be assessed. Late charges may consist of interest and penalties. Thereafter, late charges will be assessed for each additional 30-day period or portion thereof that the payment is late and a penalty of $100 per day for each day the issue is not corrected.

Interest, Penalties, and Late Charges. i. 1. Without waiving any other right of action available to the Authority in the event of default in payment of charges and fees hereunder, if the Contractor fails to make a payment when due and said failure continues for a consecutive period of thirty (30) days, late charges will be assessed. Late charges may consist of interest and penalties. Thereafter, late charges will be assessed for each additional 30-day period or portion thereof that the payment is late and a penalty of $100 per day for each day the issue is not correctedlate.

Interest, Penalties, and Late Charges. i. (1) Without waiving any other right of action available to the Authority in the event of default in payment of charges and fees hereunder, if the Contractor fails to make a payment when due and said failure continues for a consecutive period of thirty (30) days, late charges will be assessed. Late charges may consist of interest and penalties. Thereafter, late charges will be assessed for each additional 30-day thirty (30)-day period or portion thereof that the payment is late and a penalty of $100 per day for each day the issue is not correctedlate.