Common use of Overdue Charges Clause in Contracts

Overdue Charges. If complete payment is not received by the due date, and unless otherwise provided in the Order Form, then at COMPANY’s discretion (a) such charges may accrue late interest at the rate of 1.5% of the outstanding balance per month, or the maximum rate permitted by law, whichever is lower, from the date such payment was due until the date paid, and/or (b) future subscription renewals and Order Forms may be conditioned on payment terms shorter than those specified in Section 3.2 (Invoicing and Payment).

Overdue Charges. If complete payment is not received by the due date, and unless otherwise provided in the Order Form, then at COMPANYAbsorb’s discretion (a) such charges may accrue late interest at the rate of 1.51.0% of the outstanding balance per month, or the maximum rate permitted by law, whichever is lower, from the date such payment was due until the date paid, and/or (b) future subscription renewals and Order Forms may be conditioned on payment terms shorter than those specified in Section 3.2 2.2 (Invoicing and Payment).