Less Than Full Payment Sample Clauses
The "Less Than Full Payment" clause defines the terms and consequences when a party tenders payment that is less than the total amount owed under an agreement. Typically, this clause outlines whether partial payments will be accepted, how they will be applied to outstanding balances, and whether acceptance of such payments constitutes a waiver of the right to collect the remaining amount. For example, it may specify that accepting a partial payment does not release the debtor from the obligation to pay the full balance. The core function of this clause is to prevent misunderstandings and disputes by clarifying the parties' rights and obligations when less than the full amount is paid, thereby protecting the creditor’s ability to recover the full debt.
Less Than Full Payment. Landlord's acceptance of less than the full amount of any payment due from Tenant shall not be deemed an accord and satisfaction or compromise of such payment unless Landlord specifically consents in writing to payment of such lesser sum as an accord and satisfaction or compromise of the amount which Landlord claims. Any portion that remains to be paid by Tenant shall be subject to the late charges and default interest provisions of this Section 4.
Less Than Full Payment. Landlord’s acceptance of less than the full amount of any Rent due from Tenant will not be considered and shall not constitute a satisfaction of payment of Rent in full unless Landlord specifically says so in writing.
Less Than Full Payment. Tenant's acceptance of less than the full amount of any payment due from Subtenant shall not be deemed an accord and satisfaction or compromise of such payment unless Tenant specifically consents in writing to payment of such lesser sum as an accord and satisfaction or compromise of the amount which Tenant claims. Any portion that remains to be paid by Tenant shall be subject to the late charges and default interest provisions of this Section 4.