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.
Appears in 7 contracts
Samples: Power Purchase Agreement, Power Purchase Agreement, Energy Supply and Purchase Agreement
