Payment of Penalty. The TSP shall pay a penalty on account of Availability being less than ninety five percent (95%) in any Contract Year in respect of the Element(s) having achieved COD or in case of the Project, after COD of the Project, to be computed in line with Clause 1.2.3 of Schedule 5 of this Agreement and paid on an annual basis. This penalty payable by the TSP shall be apportioned in favour of the Long Term Transmission Customer(s) in the ratio of the Transmission Charges paid or actually payable to the TSP by them existing at the end of the relevant Contract Year.
Payment of Penalty. If an individual with respect to whom a pen- alty is imposed by this section for any month—
Payment of Penalty. Penalty shall be assessed on amounts of overdue tax liabilities at rates established by the Tax Legislation in effect as of the due dates of payment of such amounts.
Payment of Penalty. Section 1. Payment of the penalty for not paying wages on time is the payment of double time for twenty-four (24) hours a day until the wages are paid.
Payment of Penalty. At the meeting of organisations, the enterprise will be requested to pay the amount owing. In addition, the enterprise will be requested to pay a penalty which, if it is the first such penalty, will total 17% of the amount owing, however with a minimum of DKK 1000.
Payment of Penalty. The TSP shall pay a penalty on account of Availability being less than ……………… percent %) [To be inserted by the BPC ] in any Contract Year in respect of the Element(s) having achieved COD or in case of the Project, after COD of the Project, to be computed in line with Clause 1.2.2of Schedule 5 of this Agreement and paid on an annual basis. [The minimum Availability shall be indicated as 95% for AC system and 92% for HVDC system]. This penalty payable by the TSP shall be apportioned in favour of the Long Term Transmission Customer(s) in the ratio of the Transmission Charges paid or actually payable to the TSP by them existing at the end of the relevant Contract Year. If the availability of the Project is below the Target Availability for six consecutive months, the provisions of Article 8.2 shall apply.
Payment of Penalty. LPC shall have the right to elect to remit payment associated with the “Penalty” provision by having such payment deducted, either one-time or equally distributed, from its Property Management Fee for the year following the Penalty year. In the event that Penalty is incurred in the final year of the Term or final year of an Extension Option, LPC shall pay the Penalty, if any, within sixty (60) days of expiration of term/option.
Payment of Penalty. Penalties on delay in Provisional Acceptance of any Unit established in Clause 13.6 will be paid by Contractor to Commission on the first Banking Day at the end of each Week of delay in obtaining Provisional Acceptance of the Unit in question. Penalties on delay in Critical Events subject to Penalty established in Clause 13.6 will be totally paid by Contractor to Commission on the next Banking Day after the Scheduled Provisional Acceptance Date of the first Unit. Penalties on delay in the part of Unit Prices established in Clause 13.6 will be payable by Contractor to Commission in their totality on the next Banking Day after the Scheduled Provisional Acceptance Date of the first Unit. All amounts to be paid by Contractor according to this Clause 13.7 will be compensated by Commission with any amount owed or payable to Contractor under this Contract in case Contractor has not paid for them as provided in this Clause with the corresponding Financial Expense Rate.
Payment of Penalty. Any penalty amount occasioned by delay of the completion of construction shall be due and payable by NAANOVO on the last day of each calendar month.
Payment of Penalty. 4.1 If the High Court imposes the Agreed Recommended Penalty in the Penalty Judgment, Cigna will pay the amount of the Agreed Recommended Penalty in cleared funds into the bank account nominated by the FMA within 15 Working Days of the Penalty Judgment.
