{"component": "clause", "props": {"groups": [{"size": 30, "snippet": "In the event that contributions are not remitted in the manner provided in Clause 33.5 above, the Employer shall be subject to the following provision. For all funds in arrears, the Employer will remit the appropriate contribution identified in Clause 33.3 above, and the Employer will include a delinquency charge payment of two percent (2%) per month, compounding monthly, on behalf of each individual for whom a remittance is to be made to the Fund. Any month or portion thereof is deemed to be one full month. The payment of such delinquency charge will be made in a manner prescribed by the B.C. Government and Service Employees' Union or its designate, and is payable as liquidated damages and not as a penalty.", "snippet_links": [{"key": "in-the-event", "type": "clause", "offset": [0, 12]}, {"key": "in-clause", "type": "clause", "offset": [72, 81]}, {"key": "the-employer-shall", "type": "clause", "offset": [94, 112]}, {"key": "subject-to-the", "type": "definition", "offset": [116, 130]}, {"key": "in-arrears", "type": "definition", "offset": [166, 176]}, {"key": "the-employer-will", "type": "clause", "offset": [178, 195]}, {"key": "payment-of", "type": "definition", "offset": [315, 325]}, {"key": "per-month", "type": "clause", "offset": [343, 352]}, {"key": "on-behalf-of", "type": "clause", "offset": [375, 387]}, {"key": "to-the-fund", "type": "definition", "offset": [440, 451]}, {"key": "full-month", "type": "definition", "offset": [502, 512]}, {"key": "the-payment", "type": "clause", "offset": [514, 525]}, {"key": "government-and-service-employees", "type": "clause", "offset": [601, 633]}, {"key": "liquidated-damages", "type": "definition", "offset": [677, 695]}], "samples": [{"hash": "1kgH9eaSmCp", "uri": "/contracts/1kgH9eaSmCp#late-remittance", "label": "Collective Agreement", "score": 21.0, "published": true}, {"hash": "lgOUknYxPmL", "uri": "/contracts/lgOUknYxPmL#late-remittance", "label": "Collective Agreement", "score": 19.0, "published": true}, {"hash": "h2U5qBrmBF2", "uri": "/contracts/h2U5qBrmBF2#late-remittance", "label": "Collective Agreement", "score": 19.0, "published": true}], "hash": "d027120f3e356f6a3823a91cc747b3d5", "id": 1}, {"size": 27, "snippet": "With respect to any remittance received by the Master Servicer after the day on which such payment was due, the Servicer shall pay to the Master Servicer interest on any such late payment at an annual rate equal to the Prime Rate, adjusted as of the date of each change, plus three percentage points, but in no event greater than the maximum amount permitted by applicable law. Such interest shall be deposited in the Distribution Account by the Servicer on the date such late payment is made and shall cover the period commencing with the day such payment was due and ending with the Business Day on which such payment is made, both inclusive. Such interest shall be remitted along with the distribution payable on the next succeeding Servicer Remittance Date. The payment by the Servicer of any such interest shall not be deemed an extension of time for payment or a waiver of any Servicer Event of Default.", "snippet_links": [{"key": "with-respect-to", "type": "clause", "offset": [0, 15]}, {"key": "received-by", "type": "definition", "offset": [31, 42]}, {"key": "the-master-servicer", "type": "definition", "offset": [43, 62]}, {"key": "the-day", "type": "definition", "offset": [69, 76]}, {"key": "pay-to", "type": "definition", "offset": [127, 133]}, {"key": "interest-on-any", "type": "clause", "offset": [154, 169]}, {"key": "late-payment", "type": "clause", "offset": [175, 187]}, {"key": "annual-rate", "type": "definition", "offset": [194, 205]}, {"key": "equal-to", "type": "definition", "offset": [206, 214]}, {"key": "the-prime-rate", "type": "definition", "offset": [215, 229]}, {"key": "date-of", "type": "clause", "offset": [250, 257]}, {"key": "percentage-points", "type": "definition", "offset": [282, 299]}, {"key": "in-no-event", "type": "clause", "offset": [305, 316]}, {"key": "maximum-amount", "type": "definition", "offset": [334, 348]}, {"key": "applicable-law", "type": "clause", "offset": [362, 376]}, {"key": "the-distribution-account", "type": "clause", "offset": [414, 438]}, {"key": "by-the-servicer", "type": "clause", "offset": [439, 454]}, {"key": "the-period", "type": "clause", "offset": [509, 519]}, {"key": "commencing-with-the", "type": "clause", "offset": [520, 539]}, {"key": "business-day", "type": "clause", "offset": [585, 597]}, {"key": "servicer-remittance-date", "type": "definition", "offset": [736, 760]}, {"key": "payment-by-the", "type": "clause", "offset": [766, 780]}, {"key": "extension-of-time-for-payment", "type": "clause", "offset": [834, 863]}, {"key": "waiver-of", "type": "clause", "offset": [869, 878]}, {"key": "servicer-event-of-default", "type": "definition", "offset": [883, 908]}], "samples": [{"hash": "6c2k7q72AhT", "uri": "/contracts/6c2k7q72AhT#late-remittance", "label": "Pooling and Servicing Agreement (MASTR Asset Backed Securities Trust 2006-He2)", "score": 21.0, "published": true}, {"hash": "1ctemw4KcDK", "uri": "/contracts/1ctemw4KcDK#late-remittance", "label": "Pooling and Servicing Agreement (MASTR Asset Backed Securities Trust 2006-Am3)", "score": 21.0, "published": true}, {"hash": "lq1CDxsK4tc", "uri": "/contracts/lq1CDxsK4tc#late-remittance", "label": "Pooling and Servicing Agreement (MASTR Asset Backed Securities Trust 2006-Wmc3)", "score": 19.0, "published": true}], "hash": "77d3ba019abfcb8a03f63b8736db9059", "id": 2}, {"size": 11, "snippet": "In the event that contributions are not remitted in the manner provided in Article 32.4 above, the Employer shall be subject to the following provision. For all funds in arrears, the Employer will remit the appropriate contribution identified in Article 32.2 above, and the Employer will include a delinquency charge payment of two percent (2%) per month, compounding monthly, on behalf of each individual for whom a remittance is to be made to the Fund. Any month or portion thereof is deemed to be one (1) full month.", "snippet_links": [{"key": "in-the-event", "type": "clause", "offset": [0, 12]}, {"key": "the-employer-shall", "type": "clause", "offset": [95, 113]}, {"key": "subject-to-the", "type": "definition", "offset": [117, 131]}, {"key": "in-arrears", "type": "definition", "offset": [167, 177]}, {"key": "the-employer-will", "type": "clause", "offset": [179, 196]}, {"key": "payment-of", "type": "definition", "offset": [317, 327]}, {"key": "per-month", "type": "clause", "offset": [345, 354]}, {"key": "on-behalf-of", "type": "clause", "offset": [377, 389]}, {"key": "to-the-fund", "type": "definition", "offset": [442, 453]}, {"key": "full-month", "type": "definition", "offset": [508, 518]}], "samples": [{"hash": "gJrZfbXYKve", "uri": "/contracts/gJrZfbXYKve#late-remittance", "label": "Collective Agreement", "score": 19.0, "published": true}, {"hash": "dWGaLOGkcTW", "uri": "/contracts/dWGaLOGkcTW#late-remittance", "label": "Collective Agreement", "score": 19.0, "published": true}, {"hash": "4QpAxNMMNNX", "uri": "/contracts/4QpAxNMMNNX#late-remittance", "label": "Collective Agreement", "score": 19.0, "published": true}], "hash": "c244f140a6c82f1f6ba7369c92cbba59", "id": 3}, {"size": 5, "snippet": "PAYMENTS TO CERTIFICATEHOLDERS SECTION 4.01. Distributions.", "snippet_links": [{"key": "payments-to-certificateholders", "type": "clause", "offset": [0, 30]}], "samples": [{"hash": "iWdoXgOaSo3", "uri": "/contracts/iWdoXgOaSo3#late-remittance", "label": "Pooling and Servicing Agreement (MASTR Asset Backed Securities Trust 2006-He4)", "score": 21.0, "published": true}, {"hash": "lx1SjWlKkGR", "uri": "/contracts/lx1SjWlKkGR#late-remittance", "label": "Pooling and Servicing Agreement (MASTR Asset Backed Securities Trust 2006-He5)", "score": 19.0, "published": true}, {"hash": "cx1MKny4GFP", "uri": "/contracts/cx1MKny4GFP#late-remittance", "label": "Pooling and Servicing Agreement (MASTR Asset Backed Securities Trust 2006-Nc2)", "score": 19.0, "published": true}], "hash": "00de56a355a6a7c7aabfac89060bf3a5", "id": 4}, {"size": 4, "snippet": "Advance Facility. SECTION 3.30 Solicitations.", "snippet_links": [{"key": "advance-facility", "type": "clause", "offset": [0, 16]}], "samples": [{"hash": "LLHYBMxKDX", "uri": "/contracts/LLHYBMxKDX#late-remittance", "label": "Pooling and Servicing Agreement (Soundview Home Loan Trust 2006-Eq2)", "score": 21.0, "published": true}, {"hash": "1ETbjBGv0YO", "uri": "/contracts/1ETbjBGv0YO#late-remittance", "label": "Pooling and Servicing Agreement (Soundview Home Loan Trust 2006-Eq1)", "score": 21.0, "published": true}, {"hash": "yytIU0zQ0M", "uri": "/contracts/yytIU0zQ0M#late-remittance", "label": "Pooling and Servicing Agreement (Soundview Home Loan Trust 2007-1)", "score": 19.0, "published": true}], "hash": "17ba619771010bee768fecdcf29dbf40", "id": 5}, {"size": 3, "snippet": "ARTICLE IIIA", "snippet_links": [], "samples": [{"hash": "hCg2YKz5kcG", "uri": "/contracts/hCg2YKz5kcG#late-remittance", "label": "Pooling and Servicing Agreement (Citigroup Mortgage Loan Trust 2007-Opx1)", "score": 21.0, "published": true}, {"hash": "ez2vZOvsewo", "uri": "/contracts/ez2vZOvsewo#late-remittance", "label": "Pooling and Servicing Agreement (Mastr Asset Backed Securities Trust 2006-He1)", "score": 19.0, "published": true}, {"hash": "cx1MKny4GFP", "uri": "/contracts/cx1MKny4GFP#late-remittance", "label": "Pooling and Servicing Agreement (MASTR Asset Backed Securities Trust 2006-Nc2)", "score": 19.0, "published": true}], "hash": "e477f0533ec6f94b28fb0b90a02b8001", "id": 6}, {"size": 3, "snippet": "\u200c In the event that contributions are not remitted in the manner provided in Clause 33.5 above, the Employer shall be subject to the following provision. For all funds in arrears, the Employer will remit the appropriate contribution identified in Clause 33.3 above, and the Employer will include a delinquency charge payment of two percent (2%) per month, compounding monthly, on behalf of each individual for whom a remittance is to be made to the fund. Any month or portion thereof is deemed to be one (1) full month. The payment for such delinquency charge will be made in a manner prescribed by the BCGEU or its designate, and is payable as liquidated damages and not as a penalty.", "snippet_links": [{"key": "in-the-event", "type": "clause", "offset": [2, 14]}, {"key": "in-clause", "type": "clause", "offset": [74, 83]}, {"key": "the-employer-shall", "type": "clause", "offset": [96, 114]}, {"key": "subject-to-the", "type": "definition", "offset": [118, 132]}, {"key": "in-arrears", "type": "definition", "offset": [168, 178]}, {"key": "the-employer-will", "type": "clause", "offset": [180, 197]}, {"key": "payment-of", "type": "definition", "offset": [317, 327]}, {"key": "per-month", "type": "clause", "offset": [345, 354]}, {"key": "on-behalf-of", "type": "clause", "offset": [377, 389]}, {"key": "to-the-fund", "type": "definition", "offset": [442, 453]}, {"key": "full-month", "type": "definition", "offset": [508, 518]}, {"key": "payment-for", "type": "clause", "offset": [524, 535]}, {"key": "liquidated-damages", "type": "definition", "offset": [645, 663]}], "samples": [{"hash": "bQS3ePkBUxm", "uri": "/contracts/bQS3ePkBUxm#late-remittance", "label": "Collective Agreement", "score": 23.3545516769, "published": true}], "hash": "b8ee117d00c93cb48a0b5be5396d3032", "id": 7}, {"size": 3, "snippet": "ARTICLE IIIA ADMINISTRATION AND SERVICING OF THE MORTGAGE LOANS SECTION 3A.01 Master Servicer to Act as Master Servicer SECTION 3A.02 [Reserved]. SECTION 3A.03 Monitoring of Servicer. SECTION 3A.04 Fidelity Bond. SECTION 3A.05 Power to Act; Procedures.", "snippet_links": [{"key": "administration-and-servicing-of-the-mortgage-loans", "type": "clause", "offset": [13, 63]}, {"key": "master-servicer-to-act-as-master-servicer", "type": "clause", "offset": [78, 119]}, {"key": "monitoring-of-servicer", "type": "clause", "offset": [160, 182]}, {"key": "fidelity-bond", "type": "definition", "offset": [198, 211]}, {"key": "power-to-act", "type": "clause", "offset": [227, 239]}], "samples": [{"hash": "hDGdFteuLHF", "uri": "/contracts/hDGdFteuLHF#late-remittance", "label": "Pooling and Servicing Agreement (Citigroup Mortgage Loan Trust 2006-Fx1)", "score": 21.0, "published": true}], "hash": "1b08aca80a45957b403c07cbf518115a", "id": 8}, {"size": 3, "snippet": "With respect to any remittance received by the Trust Administrator after the day on which such payment was due, the Servicer shall pay to the Master Servicer interest on any such late payment at an annual rate equal to One-Month LIBOR plus fifty basis points (or, in the case of the Backup Servicer, at an annual rate equal to the Prime Rate, adjusted as of the date of each change, plus one percentage point), but in each case, no event greater than the maximum amount permitted by applicable law. Such interest shall be remitted to the Trust Administrator for deposit in the Distribution Account by the Servicer on the date such late payment is made and shall cover the period commencing with the day such payment was due and ending with the Business Day on which such payment is made, both inclusive. Such interest shall be remitted along with the distribution payable on the next succeeding Servicer Remittance Date. The payment by the Servicer of any such interest shall not be deemed an extension of time for payment or a waiver of any Servicer Event of Default. SECTION 3A.01 Master Servicer to Act as Master Servicer The Master Servicer shall supervise, monitor and oversee the obligations of the Servicer to service and administer the Mortgage Loans in accordance with the terms of this Agreement and shall have full power and authority to do any and all things which it may deem necessary or desirable in connection with such master servicing and administration. In performing its obligations hereunder, the Master Servicer shall act in a manner consistent with Accepted Master Servicing Practices. Furthermore, the Master Servicer shall oversee and consult with the Servicer as reasonably necessary from time-to-time to carry out the Master Servicer\u2019s obligations hereunder, shall receive, review and evaluate all reports, information and other data provided to the Master Servicer by the Servicer and shall cause the Servicer to perform and observe the covenants, obligations and conditions to be performed or observed by the Servicer under this Agreement. The Master Servicer shall independently monitor the Servicer\u2019s servicing activities with respect to each Mortgage Loan, reconcile the results of such monitoring with such information provided in the previous sentence on a monthly basis and coordinate corrective adjustments to the Servicer\u2019s and Master Servicer\u2019s records, and based on such reconciled and corrected information, the Master Servicer shall provide such information to the Trust Administrator as shall be necessary in order for it to prepare the statements specified in Section 4.02, and prepare any other information and statements required to be forwarded by the Master Servicer hereunder. The Master Servicer shall reconcile the results of its Mortgage Loan monitoring with the actual remittances of the Servicer to the Collection Account pursuant to Section 3.10. The Trustee shall furnish the Master Servicer with any powers of attorney and other documents in form as provided to it necessary or appropriate to enable the Master Servicer to master service and administer the Mortgage Loans and REO Properties. The Trustee and the Trust Administrator shall provide access to the records and documentation in possession of the Trustee or the Trust Administrator, as applicable, regarding the Mortgage Loans and REO Properties and the servicing thereof to the Certificateholders, the FDIC, and the supervisory agents and examiners of the FDIC, such access being afforded only upon reasonable prior written request and during normal business hours at the office of the Trustee or the Trust Administrator, as applicable; provided, however, that, unless otherwise required by law, neither the Trustee nor the Trust Administrator shall be required to provide access to such records and documentation if the provision thereof would violate the legal right to privacy of any Mortgagor. The Trustee and the Trust Administrator shall allow representatives of the above entities to photocopy any of the records and documentation and shall provide equipment for that purpose at a charge that covers the Trustee\u2019s or Trust Administrator\u2019s, as applicable, actual costs. The Trustee shall execute and deliver to the Servicer and the Master Servicer any court pleadings, requests for trustee\u2019s sale or other documents necessary or desirable to (i) the foreclosure or trustee\u2019s sale with respect to a Mortgaged Property; (ii) any legal action brought to obtain judgment against any Mortgagor on the Mortgage Note or Security Instrument; (iii) obtain a deficiency judgment against the Mortgagor; or (iv) enforce any other rights or remedies provided by the Mortgage Note or Mortgage or otherwise available at law or equity. SECTION 3A.02 [Reserved].", "snippet_links": [{"key": "with-respect-to", "type": "clause", "offset": [0, 15]}, {"key": "trust-administrator", "type": "definition", "offset": [47, 66]}, {"key": "the-day", "type": "definition", "offset": [73, 80]}, {"key": "pay-to", "type": "definition", "offset": [131, 137]}, {"key": "the-master-servicer", "type": "definition", "offset": [138, 157]}, {"key": "interest-on-any", "type": "clause", "offset": [158, 173]}, {"key": "late-payment", "type": "clause", "offset": [179, 191]}, {"key": "annual-rate", "type": "definition", "offset": [198, 209]}, {"key": "equal-to", "type": "definition", "offset": [210, 218]}, {"key": "month-libor", "type": "clause", "offset": [223, 234]}, {"key": "basis-points", "type": "clause", "offset": [246, 258]}, {"key": "in-the-case", "type": "clause", "offset": [264, 275]}, {"key": "the-backup-servicer", "type": "clause", "offset": [279, 298]}, {"key": "the-prime-rate", "type": "definition", "offset": [327, 341]}, {"key": "date-of", "type": "clause", "offset": [362, 369]}, {"key": "each-case", "type": "definition", "offset": [418, 427]}, {"key": "no-event", "type": "clause", "offset": [429, 437]}, {"key": "maximum-amount", "type": "definition", "offset": [455, 469]}, {"key": "applicable-law", "type": "clause", "offset": [483, 497]}, {"key": "to-the-trust", "type": "definition", "offset": [531, 543]}, {"key": "the-distribution-account", "type": "clause", "offset": [573, 597]}, {"key": "by-the-servicer", "type": "clause", "offset": [598, 613]}, {"key": "the-period", "type": "clause", "offset": [668, 678]}, {"key": "commencing-with-the", "type": "clause", "offset": [679, 698]}, {"key": "business-day", "type": "clause", "offset": [744, 756]}, {"key": "servicer-remittance-date", "type": "definition", "offset": [895, 919]}, {"key": "payment-by-the", "type": "clause", "offset": [925, 939]}, {"key": "extension-of-time-for-payment", "type": "clause", "offset": [993, 1022]}, {"key": "waiver-of", "type": "clause", "offset": [1028, 1037]}, {"key": "servicer-event-of-default", "type": "definition", "offset": [1042, 1067]}, {"key": "master-servicer-the", "type": "definition", "offset": [1109, 1128]}, {"key": "servicer-to-service", "type": "clause", "offset": [1205, 1224]}, {"key": "in-accordance-with", "type": "definition", "offset": [1259, 1277]}, {"key": "terms-of-this-agreement", "type": "clause", "offset": [1282, 1305]}, {"key": "authority-to", "type": "clause", "offset": [1336, 1348]}, {"key": "in-connection-with", "type": "clause", "offset": [1412, 1430]}, {"key": "servicing-and-administration", "type": "clause", "offset": [1443, 1471]}, {"key": "consistent-with", "type": "clause", "offset": [1556, 1571]}, {"key": "accepted-master-servicing-practices", "type": "definition", "offset": [1572, 1607]}, {"key": "reasonably-necessary", "type": "clause", "offset": [1689, 1709]}, {"key": "data-provided", "type": "clause", "offset": [1856, 1869]}, {"key": "the-covenants", "type": "clause", "offset": [1961, 1974]}, {"key": "conditions-to", "type": "clause", "offset": [1992, 2005]}, {"key": "servicing-activities", "type": "definition", "offset": [2132, 2152]}, {"key": "each-mortgage-loan", "type": "definition", "offset": [2169, 2187]}, {"key": "information-provided", "type": "clause", "offset": [2240, 2260]}, {"key": "monthly-basis", "type": "definition", "offset": [2291, 2304]}, {"key": "adjustments-to", "type": "clause", "offset": [2331, 2345]}, {"key": "based-on", "type": "clause", "offset": [2396, 2404]}, {"key": "statements-required", "type": "clause", "offset": [2655, 2674]}, {"key": "master-servicer-hereunder", "type": "clause", "offset": [2698, 2723]}, {"key": "loan-monitoring", "type": "clause", "offset": [2789, 2804]}, {"key": "the-collection-account", "type": "clause", "offset": [2852, 2874]}, {"key": "pursuant-to-section", "type": "definition", "offset": [2875, 2894]}, {"key": "trustee-shall", "type": "definition", "offset": [2905, 2918]}, {"key": "powers-of-attorney", "type": "clause", "offset": [2956, 2974]}, {"key": "and-other-documents", "type": "clause", "offset": [2975, 2994]}, {"key": "reo-properties", "type": "definition", "offset": [3132, 3146]}, {"key": "trustee-and-the-trust", "type": "clause", "offset": [3152, 3173]}, {"key": "records-and-documentation", "type": "clause", "offset": [3216, 3241]}, {"key": "possession-of-the", "type": "clause", "offset": [3245, 3262]}, {"key": "regarding-the-mortgage-loans", "type": "clause", "offset": [3314, 3342]}, {"key": "upon-reasonable", "type": "clause", "offset": [3511, 3526]}, {"key": "written-request", "type": "definition", "offset": [3533, 3548]}, {"key": "normal-business-hours", "type": "definition", "offset": [3560, 3581]}, {"key": "office-of-the-trustee", "type": "definition", "offset": [3589, 3610]}, {"key": "required-by-law", "type": "definition", "offset": [3696, 3711]}, {"key": "to-provide", "type": "definition", "offset": [3779, 3789]}, {"key": "right-to-privacy", "type": "clause", "offset": [3880, 3896]}, {"key": "representatives-of-the", "type": "clause", "offset": [3967, 3989]}, {"key": "provide-equipment", "type": "clause", "offset": [4065, 4082]}, {"key": "actual-costs", "type": "definition", "offset": [4179, 4191]}, {"key": "deliver-to", "type": "definition", "offset": [4223, 4233]}, {"key": "requests-for", "type": "clause", "offset": [4292, 4304]}, {"key": "mortgaged-property", "type": "definition", "offset": [4421, 4439]}, {"key": "legal-action", "type": "definition", "offset": [4450, 4462]}, {"key": "the-mortgage-note", "type": "definition", "offset": [4515, 4532]}, {"key": "security-instrument", "type": "definition", "offset": [4536, 4555]}, {"key": "deficiency-judgment", "type": "definition", "offset": [4572, 4591]}, {"key": "the-mortgagor", "type": "clause", "offset": [4600, 4613]}, {"key": "other-rights-or-remedies", "type": "clause", "offset": [4635, 4659]}, {"key": "available-at", "type": "definition", "offset": [4715, 4727]}], "samples": [{"hash": "fweQmQsKTvM", "uri": "/contracts/fweQmQsKTvM#late-remittance", "label": "Pooling and Servicing Agreement (Citigroup Mortgage Loan Trust 2007-Amc4)", "score": 21.0, "published": true}], "hash": "68d05797e0d5ea9804be4bd4a7459b96", "id": 9}, {"size": 2, "snippet": "With respect to any remittance received by the Trust Administrator after the day on which such payment was due, such Servicer shall pay to the Master Servicer interest on any such late payment at an annual rate equal to the Prime Rate, adjusted as of the date of each change, plus three percentage points, but in no event greater than the maximum amount permitted by applicable law; provided however, with respect to Countrywide, such annual rate shall be equal to the Prime Rate, adjusted as of the date of each change, plus one percentage point. Such interest shall be remitted to the Trust Administrator for deposit in the Distribution Account by the related Servicer on the date such late payment is made and shall cover the period commencing with the day such payment was due and ending with the Business Day on which such payment is made, both inclusive. Such interest shall be remitted along with the distribution payable on the next succeeding Servicer Remittance Date. The payment by such Servicer of any such interest shall not be deemed an extension of time for payment or a waiver of any Servicer Event of Default.", "snippet_links": [{"key": "with-respect-to", "type": "clause", "offset": [0, 15]}, {"key": "trust-administrator", "type": "definition", "offset": [47, 66]}, {"key": "the-day", "type": "definition", "offset": [73, 80]}, {"key": "pay-to", "type": "definition", "offset": [132, 138]}, {"key": "the-master-servicer", "type": "definition", "offset": [139, 158]}, {"key": "interest-on-any", "type": "clause", "offset": [159, 174]}, {"key": "late-payment", "type": "clause", "offset": [180, 192]}, {"key": "annual-rate", "type": "definition", "offset": [199, 210]}, {"key": "equal-to", "type": "definition", "offset": [211, 219]}, {"key": "the-prime-rate", "type": "definition", "offset": [220, 234]}, {"key": "date-of", "type": "clause", "offset": [255, 262]}, {"key": "percentage-points", "type": "definition", "offset": [287, 304]}, {"key": "in-no-event", "type": "clause", "offset": [310, 321]}, {"key": "maximum-amount", "type": "definition", "offset": [339, 353]}, {"key": "applicable-law", "type": "clause", "offset": [367, 381]}, {"key": "provided-however", "type": "clause", "offset": [383, 399]}, {"key": "to-the-trust", "type": "definition", "offset": [580, 592]}, {"key": "the-distribution-account", "type": "clause", "offset": [622, 646]}, {"key": "the-period", "type": "clause", "offset": [725, 735]}, {"key": "commencing-with-the", "type": "clause", "offset": [736, 755]}, {"key": "business-day", "type": "clause", "offset": [801, 813]}, {"key": "servicer-remittance-date", "type": "definition", "offset": [952, 976]}, {"key": "payment-by", "type": "clause", "offset": [982, 992]}, {"key": "extension-of-time-for-payment", "type": "clause", "offset": [1051, 1080]}, {"key": "waiver-of", "type": "clause", "offset": [1086, 1095]}, {"key": "servicer-event-of-default", "type": "definition", "offset": [1100, 1125]}], "samples": [{"hash": "279tOg5VvgE", "uri": "/contracts/279tOg5VvgE#late-remittance", "label": "Pooling and Servicing Agreement (Citigroup Mortgage Loan Trust 2007-Amc2)", "score": 21.0, "published": true}, {"hash": "10mx7zr8rF9", "uri": "/contracts/10mx7zr8rF9#late-remittance", "label": "Pooling and Servicing Agreement (Citigroup Mortgage Loan Trust 2007-Amc2)", "score": 21.0, "published": true}], "hash": "8a6f59510cd915fea6c126c7ead403c9", "id": 10}], "next_curs": "ClgSUmoVc35sYXdpbnNpZGVyY29udHJhY3RzcjQLEhZDbGF1c2VTbmlwcGV0R3JvdXBfdjU2IhhsYXRlLXJlbWl0dGFuY2UjMDAwMDAwMGEMogECZW4YACAA", "clause": {"parents": [["isolation-allowance", "Isolation Allowance"], ["post-training-work-opportunities", "Post Training Work Opportunities"], ["boot-allowance", "Boot Allowance"], ["cost-savings", "Cost Savings"], ["apprentices", "Apprentices"]], "children": [["", ""], ["successor-master-servicer", "Successor Master Servicer"], ["appointment-of-co-trustee-or-separate-trustee", "Appointment of Co-Trustee or Separate Trustee"], ["removal-of-the-credit-risk-manager", "Removal of the Credit Risk Manager"], ["limitation-upon-liability-of-the-credit-risk-manager", "Limitation Upon Liability of the Credit Risk Manager"]], "size": 80, "title": "Late Remittance", "id": "late-remittance", "related": [["remittance-reports-pi-advances", "Remittance Reports; P&I Advances", "Remittance Reports; P&I Advances"], ["remittance", "Remittance", "Remittance"], ["remittance-reports", "Remittance Reports", "Remittance Reports"], ["late-payment-charges", "Late Payment Charges", "Late Payment Charges"], ["late-payment-charge", "Late Payment Charge", "Late Payment Charge"]], "related_snippets": [], "updated": "2025-07-07T16:38:45+00:00", "also_ask": ["What are the most effective remedies to include for late remittance beyond interest penalties?", "How can the clause be drafted to minimize disputes over what constitutes 'late' payment?", "What are the most common legal pitfalls that render late remittance clauses unenforceable in court?", "How do late remittance provisions differ across key jurisdictions or industries?", "What negotiation leverage does a robust late remittance clause provide in contract enforcement?"], "drafting_tip": "Specify the grace period and applicable interest rate to ensure clarity and deter late payments; define consequences for persistent delays to protect the payee\u2019s interests.", "explanation": "The Late Remittance clause defines the consequences and procedures that apply when a payment is not made by its due date. Typically, this clause outlines the imposition of interest charges, late fees, or other penalties on overdue amounts, and may specify a grace period before such penalties accrue. Its core practical function is to incentivize timely payments and compensate the payee for delays, thereby reducing the risk of cash flow disruptions and encouraging compliance with agreed payment terms."}, "json": true, "cursor": ""}}