Payment Due Dates and Interest Sample Clauses

Payment Due Dates and Interest. Should the Owner fail to pay a proper invoice within thirty calendar days of receipt, the Design Professional shall notify the Owner in writing by Certified or Statutory mail. If the Owner fails to pay within five business days of receipt of the notice, the Design Professional shall receive, in addition the sum named in the proper invoice, interest thereon at the rate of one half (½) percent per month on the unpaid balance as may be due.
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Payment Due Dates and Interest. Should the Owner fail to pay a proper invoice within thirty calendar days of receipt by the Owner of the certification of the Application for Payment by the Design Professional., the Contractor shall notify the Owner in writing by certified or statutory mail and shall reference O.C.G.A § 13-4-4 (mutual departure from contract terms) . If the Owner fails to pay within five business days of receipt of the notice, the Contractor shall receive, in addition to the sum named in the proper invoice, interest thereon at the rate of one half percent per month on the unpaid balance as may be due.
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Payment Due Dates and Interest. Should the Owner fail to pay a proper invoice within thirty calendar days of receipt by the Owner of the certification of the Application for Payment by the Design Professional., the Contractor
Sample 1

Related to Payment Due Dates and Interest

  • Payment Dates Whenever any payment or other obligation hereunder shall be due on a day other than a Business Day, such payment shall be made on the next succeeding Business Day.

  • Interest Rates and Payment Dates (a) Each Eurodollar Loan shall bear interest for each day during each Interest Period with respect thereto at a rate per annum equal to the Eurodollar Rate determined for such day plus the Applicable Margin. (b) Each ABR Loan shall bear interest at a rate per annum equal to the ABR plus the Applicable Margin. (i) If all or a portion of the principal amount of any Loan or Reimbursement Obligation shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), all outstanding Loans and Reimbursement Obligations (whether or not overdue) shall bear interest at a rate per annum equal to (x) in the case of the Loans, the rate that would otherwise be applicable thereto pursuant to the foregoing provisions of this Section plus 2% or (y) in the case of Reimbursement Obligations, the rate applicable to ABR Loans under the Revolving Facility plus 2%, and (ii) if all or a portion of any interest payable on any Loan or Reimbursement Obligation or any commitment fee or other amount payable hereunder shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), such overdue amount shall bear interest at a rate per annum equal to the rate then applicable to ABR Loans under the relevant Facility plus 2% (or, in the case of any such other amounts that do not relate to a particular Facility, the rate then applicable to ABR Loans under the Revolving Facility plus 2%), in each case, with respect to clauses (i) and (ii) above, from the date of such non-payment until such amount is paid in full (as well after as before judgment). (d) Interest shall be payable in arrears on each Interest Payment Date, provided that interest accruing pursuant to paragraph (c) of this Section shall be payable from time to time on demand.

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