Late Payment Penalty. The Company acknowledges that time is of the essence with respect to their timely payment of all funds required under Section 2 of this Agreement. In the event that any such payments are not fully made within ten (10) days of the date they are due; the Town shall provide the Company with written notice of such failure to make a timely payment. The Company shall have a ten (10) day period to cure such failure to make timely payment from the date of receipt of such notice. If the Company fails to make full payment within such cure period, the Company shall be required to pay the Town a late payment penalty equal to five percent (5%) of such required payments.
Appears in 5 contracts
Samples: Host Community Agreement, Host Community Agreement, Host Community Agreement
Late Payment Penalty. The Company acknowledges that time is of the essence with respect to their timely payment of all funds required under Section 2 of this Agreement. In the event that any such payments are not fully made in full within ten (10) days of the date they are due; , the Town shall provide the Company with written notice of such failure to make a timely payment. The Company shall have a ten (10) day period to cure such failure to make timely payment from the date of receipt of such noticesaid notice to cure the failure in payment. If the Company fails to make achieve full payment within such cure period, the Company shall be required obligated to pay the Town a late payment penalty equal to five percent (5%% ) of such the full required paymentspayment amount.
Appears in 1 contract
Samples: Host Community Agreement
Late Payment Penalty. The Company acknowledges that time is of the essence with respect to their its timely payment of all funds required under Section 2 1 of this Agreement. In the event that any such payments are not fully made within ten with five (105) days of the date they are due; the Town shall provide the Company with written notice of such failure to make a timely payment. The Company shall have a ten (10) day period to cure such failure to make timely payment from the date of receipt of such notice. If the Company fails to make full payment within such cure period, the Company shall be required to pay the Town a late payment penalty equal to five percent (5%) of such required paymentspayments if the Company fails to cure the default within five (5) days following issuance of written notice from the Town of the default.
Appears in 1 contract
Samples: Host Community Agreement
Late Payment Penalty. The Company acknowledges that time is of the essence with respect to their timely payment of all funds required under Section 2 of this Agreement. In the event that any such payments are not fully made within with ten (10) days of the date they are due; the Town shall provide the Company with written notice of such failure to make a timely payment. The Company shall have a ten (10) day period to cure such failure to make timely payment from the date of receipt of such notice. If the Company fails to make full payment within such cure period, the Company shall be required to pay the Town a late payment penalty equal to five percent (5%) of such required payments.
Appears in 1 contract
Samples: Host Community Agreement
Late Payment Penalty. The Company acknowledges that time is of the essence with respect to their timely payment of all funds required under Section 2 of this Agreement. In the event that any such payments are not fully made within with ten (10) days of the date they are due; , the Town shall provide the Company with written notice of such failure to make a timely payment. The Company shall have a ten (10) day period to cure such failure to make timely payment from the date of receipt of such notice. If the Company fails to make full payment within such cure period, the Company shall be required to pay the Town a late payment penalty equal to five percent (5%) of such required payments.
Appears in 1 contract
Samples: Host Community Agreement