Common use of LIQUIDATED DAMAGES FOR LATE PAYMENT Clause in Contracts

LIQUIDATED DAMAGES FOR LATE PAYMENT. If you do not pay your account in full on receipt of your monthly statement, you are in default. Therefore, you acknowledge that we may suspend or cancel your charge privileges, and you agree that we shall be entitled to charge you liquidated damages as follows: (i) lf we do not receive full payment of the “Total due” billed on your monthly statement by the date of your next statement, the unpaid balance will be identified on that next statement as the “Overdue” amount. (ii) Liquidated damages of three point three percent (3.3%) (subject to a minimum of HK$100) will be charged on any Overdue amount which is identified in a statement and will be billed in that statement. The Overdue amount may include any unpaid liquidated damages billed on previous statements. We may take such action as we consider necessary to recover overdue amounts and otherwise protect our interests, including the use of debt collection agencies. You will reimburse us for our reasonable costs and expenses of such action, including legal fees.

LIQUIDATED DAMAGES FOR LATE PAYMENT. If you do not pay your account in full on receipt of your monthly statement, you are in default. Therefore, you acknowledge that we may suspend or cancel your charge privileges, and you agree that we shall be entitled to charge you liquidated damages as follows: (i) lf If we do not receive full payment of the “'Total due” ' billed on your monthly statement by the date of your next statement, the unpaid balance will be identified on that next statement as the “'Overdue” ' amount. (ii) Liquidated damages of three point three percent (3.3%) (subject to a minimum of HK$100) will be charged on any Overdue amount which is identified in a statement and will be billed in that statement. The Overdue amount may include any unpaid liquidated damages billed on previous statements. We may take such action as we consider necessary to recover overdue amounts and otherwise protect our interests, including the use of debt collection agencies. You will reimburse us for our reasonable costs and expenses of such action, including legal fees.

LIQUIDATED DAMAGES FOR LATE PAYMENT. If you do not pay your account in full on receipt of your monthly statement, you are in default. Therefore, you acknowledge that we may suspend or cancel your charge privileges, and you agree that we shall be entitled to charge you liquidated damages as follows: (i) lf If we do not receive full payment of the “'Total due” ' billed on your monthly month- ly statement by the date of your next statement, the unpaid balance will be identified on that next statement as the “'Overdue” ' amount. (ii) Liquidated damages of three point three percent (3.3%) (subject to a minimum of HK$100) will be charged on any Overdue amount which is identified in a statement and will be billed in that statement. The Overdue amount may include any unpaid liquidated damages billed on previous statements. We may take such action as we consider necessary to recover overdue amounts and otherwise protect our interests, including the use of debt collection agencies. You will reimburse us for our reasonable costs and expenses of such action, including legal fees.