Late Fee Charges Clause Samples
The Late Fee Charges clause establishes the obligation for a party to pay additional fees if payments are not made by the agreed-upon due date. Typically, this clause specifies the amount or percentage of the late fee, the grace period (if any), and the method of calculation, such as a flat fee or a daily interest rate on overdue amounts. Its core practical function is to incentivize timely payments and compensate the receiving party for the inconvenience or financial impact of delayed payments.
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Late Fee Charges. The COA International policy is that payment of fees is necessary before Academy services can be delivered, and late charges will be imposed if payments are not received as agreed, whether termly, monthly or annually.
Late Fee Charges. If any payment required by this Note not received by Lender within ten (10) days after such payment is due, a late fee charge equal to five percent (5.0%) of such late payment shall be due and payable.
Late Fee Charges. If any payment required by this Note is not paid when due, Borrower shall pay to Lender a late fee charge equal to $1,500 which both parties agree is a reasonable estimate of the direct costs attributable to such unpaid amounts and not in lieu of any other amounts due and owing hereunder. This fee is in addition to, and not in lieu of, any other amounts due and owing hereunder and in addition to any other remedies the Lender may have hereunder.
Late Fee Charges. The Cambridge Online Academy's policy is that payment of fees is necessary before Academy services can be delivered, and late charges will be imposed if payments are not received as agreed, whether termly, monthly or annually.
Late Fee Charges. If any payment required by this Agreement is not paid when due, Borrower shall pay to Lender a late fee charge as specified in the Note.