Common use of Nonpayment of Bills Clause in Contracts

Nonpayment of Bills. If the Contractor fails to pay any xxxx when due an interest charge of one percent (1%) of the amount unpaid shall be added thereto as liquidated damages, and thereafter, as further liquidated damages, an additional interest charge of one-half of one percent (1/2%) of the principal sum unpaid shall be added on the first day of each succeeding calendar month until the amount due, including interest, is paid in full. The Authority shall have the right upon not less than fifteen (15) days’ advance written notice to discontinue furnishing electric service to the Contractor for nonpayment of bills and to refuse to resume same so long as any part of the amount due remains unpaid. Such discontinuance of electric service will not relieve the Contractor of liability for any minimum charge during the time electric service is so discontinued. The rights given herein to the Authority shall be in addition to all other remedies available to the Authority, either at law or in equity, for the breach of any of the provisions hereof.

Nonpayment of Bills. If the Contractor fails to pay any xxxx bill when due an interest charge of one percent (1%) of the amount unpaid shall be added thereto as liquidated damages, and thereafter, as further liquidated damages, an additional interest charge of one-half of one percent (1/2%) of the principal sum unpaid shall be added on the first day of each succeeding calendar month until the amount due, including interest, is paid in full. The Authority shall have the right upon not less than fifteen (15) days’ advance written notice to discontinue furnishing electric service to the Contractor for nonpayment of bills and to refuse to resume same so long as any part of the amount due remains unpaid. Such discontinuance of electric service will not relieve the Contractor of liability for any minimum charge during the time electric service is so discontinued. The rights given herein to the Authority shall be in addition to all other remedies available to the Authority, either at law or in equity, for the breach of any of the provisions hereof.