Common use of Payment of Bulk Clause in Contracts

Payment of Bulk. Oil Cargo Fee - Bulk Oil Cargo Fees shall be payable by Owner forthwith upon unloading or (in the case of Bulk Oil Cargo intended for a destination outside Canada) loading at the Oil Handling Facility referred to in Section 3.1, and any Bulk Oil Cargo Fees not paid in full forthwith will be charged interest on the outstanding amount at the rate of one per cent (1%) per month, or 12.6825% per year, commencing on the first (1st) day following the date on which the Bulk Oil Cargo was unloaded or (in the case of Bulk Oil Cargo intended for destination outside Canada) loaded, as the case may be.

Payment of Bulk. Oil Cargo Fee - Fee‌ Bulk Oil Cargo Fees shall be payable by Owner Operator forthwith upon unloading or (in the case of Bulk Oil Cargo intended for a destination outside Canada) loading at the a Non-Member Oil Handling Facility referred to in Section 3.1Facility, and any Bulk Oil Cargo Fees not paid in full forthwith will be charged interest on the outstanding amount at the rate of one per cent (1%) per month, or 12.6825% per year, commencing on the first (1st) day following the date on which the Bulk Oil Cargo was unloaded or (in the case of Bulk Oil Cargo intended for a destination outside Canada) loaded, as the case may be.