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

Interest, Penalties, and Late Charges. (1) Without waiving any other right of action available to the Authority, in the event the Contractor fails to make deposits of Operating Receipts according to the deposit schedule approved by the Authority, the Authority may assess late charges for each day in which the deposits have not been made. Late charges may consist of interest and penalties.

Interest, Penalties, and Late Charges. (1) Without waiving any other right of action available to the Authority, in the event the Contractor fails to make deposits of Operating Receipts according to the deposit schedule approved by the Authority, the Authority may assess late charges may be assessed for each day in which the deposits have not been made. Late charges may consist of interest and penalties.

Interest, Penalties, and Late Charges. (1) . Without waiving any other right of action available to the Authority, Authority in the event of default in payment of charges and fees hereunder, if the Contractor fails to make deposits of Operating Receipts according a payment to the deposit schedule approved by the AuthorityAuthority when due, the Authority may assess late charges for each day in which the deposits have not been mademay be assessed. Late charges may consist of interest and penalties. Late charges will be assessed for each day or portion thereof that the payment is late.