Late Payment Surcharge. In the event of delay in payment of a Monthly Xxxx by Buyer beyond thirty (30) days of its Due Date, a Late Payment Surcharge shall be payable to the SPD at the rate of 1.25% per month on the outstanding amount calculated on a day to day basis subject to such late payment being duly received by Buyer under the PSA from the Buying Entity(ies). The Late Payment Surcharge shall be claimed by the SPD through the Supplementary Xxxx.
Late Payment Surcharge. (1) For payment of Monthly bill by , if paid after Due Date of Payment, a late Payment charge shall be payable by to the SPG on the payment outstanding after the due date at the base rate of Late Payment Surcharge applicable for the period for the first month of default.
(2) The rate of Late Payment Surcharge for the successive months of default shall increase by 0.5 percent for every month of delay provided that the Late Payment Surcharge shall not be more than 3 percent higher than the base rate at any time.
(3) Provided that the rate at which Late Payment Surcharge shall be payable shall not exceed the rate of seven (7) percent in excess of the SBI 1 year Marginal Cost of Funds Based Lending Rate (MCLR) per annum / any replacement thereof by SBI, on the amount of outstanding payment, calculated on a week or part thereof basis viz. (SBI MCLR rate + 7%) = per week or part thereof.
(4) Provided further that all Payments shall be first adjusted towards Late Payment Surcharge and thereafter, towards monthly charges, starting from the longest overdue bill.
(5) The Late Payment Surcharge shall be claimed by SPG through the supplementary bill.
Late Payment Surcharge. In the event of payment of a Monthly Bill by the Buying Entity beyond the Due Date, a Late Payment Surcharge (LPS) shall be payable by the Buying Entity to SECI on the outstanding payment as per applicable LPS rule notified by MoP or any subsequent amendments, at the base rate of Late Payment Surcharge applicable for the period for the first month of default. “
Late Payment Surcharge. In the event of delay in payment of a Monthly Xxxx by the Procurers sixty (60) days beyond its due date, a Late Payment Surcharge shall be payable by the Procurers to the Seller at the rate of 1.25% per month on the outstanding amount calculated on a day to day basis. The Late Payment Surcharge shall be claimed by the Seller through the next Monthly Xxxx.
Late Payment Surcharge. In the event of delay in payment of a Monthly Bill by SECI beyond the Due Date, a Late Payment Surcharge shall be payable by SECI to the SPD on the outstanding payment, at the base rate of Late Payment Surcharge applicable for the period for the first month of default. “
Late Payment Surcharge. In the event of delay in payment of a Monthly Xxxx by the Buying Utility, within 30 days beyond its Due Date, a Late Payment Surcharge shall be payable by the Buying Utility to SECI at the rate of 1.25% per month on the outstanding amount calculated on a day to day basis. The Late Payment Surcharge shall be claimed by SECI through the next Monthly Xxxx.
Late Payment Surcharge. In the event of delay in payment of a monthly xxxx by APDCL within 30 (thirty) days beyond its Due Date, a late payment surcharge shall be payable to the Solar Power Developer at the rate of 1.25% per month on the outstanding amount calculated on a day to day basis (“Late Payment Surcharge”). The Late Payment Surcharge shall be claimed by the Solar Power Developer through the Supplementary Xxxx.
Late Payment Surcharge. In the event of delay in payment of a monthly xxxx by ESCOM within 30 (thirty) days beyond its Due Date, a late payment surcharge shall be payable to the Developer at the rate of 1.25% per month on the outstanding amount calculated on a day to day basis (“Late Payment Surcharge”). The Late Payment Surcharge shall be claimed by the Developer through the Supplementary Xxxx.
Late Payment Surcharge. In case the payment of any Invoice for charges payable under this Agreement is delayed by either Party (“Owing Party”) beyond its Due Date, a Late Payment Surcharge shall be payable by the Owing party to the Owed Party at the rate of the Standard Interest per year on the outstanding amount, calculated on a day to day basis for each day of the delay, compounded on monthly rests. The Late Payment Surcharge payable by:
(i) CEB, shall be claimed by Seller through the next Seller Invoice; and
(ii) Seller, shall be claimed by CEB through a CEB Invoice.
Late Payment Surcharge. In the event of delay in payment of a Monthly Bill by MSEDCL beyond thirty (30) days of its Due Date, a Late Payment Surcharge shall be payable to the SPG at the rate of 1.25% per month on the outstanding amount calculated on a day to day basis. The Late Payment Surcharge shall be claimed by the SPG through the Supplementary Bill.
