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—
(A) is a dependent (as defined in section 152) of another taxpayer for the other tax- payer’s taxable year including such month, such other taxpayer shall be liable for such penalty, or
(B) files a joint return for the taxable year including such month, such individual and the spouse of such individual shall be jointly liable for such penalty.
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.
4.2 If the High Court does not impose the Agreed Recommended Penalty in the Penalty Judgment, then Cigna will pay into the bank account nominated by the FMA any pecuniary penalty ordered by the High Court within 15 Working Days of the date of the Penalty Judgment unless, prior to the expiration of that period, a stay of the Penalty Judgment pending determination of an appeal is granted.
4.3 If a Penalty Judgment is issued by an appellate Court, Cigna (on the one hand), or the FMA (on the other hand), as applicable, shall pay to the other any difference between any pecuniary penalty paid by Cigna in accordance with clause 4.2 and the amount ordered by the appellate Court, together with any costs awarded by the appellate Court, into the bank account nominated by the FMA or Cigna. For the avoidance of doubt, if no pecuniary penalty has been paid by Cigna when a Penalty Judgment is issued by an appellate Court, this difference will be the total amount ordered by the appellate Court. The payment will be made within 15 Working Days of the date of the appellate judgment or within any other time period specified by the appellate judgment, whichever is later.
4.4 If a stay of the Penalty Judgment is granted pending determination of an appeal, Cigna agrees to pay interest as prescribed by the Interest on Money Claims Act 2016 on any amount it has to pay to the FMA under clause 4.3. Interest will accrue from the date of the Penalty Judgment until payment is made in full.
4.5 For the avoidance of doubt, if the FMA is required to refund any amount under clause 4.3, the only interest to be paid is that actually earned, if any, on the amount to be refunded.
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. 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. 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. 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. The parties recognise that enterprises will be facing dramatic changes in connection with the green transition, a changing labour market with new technologies ranging from self-driving trucks to automated warehouses and a job market characterised by later retirement. The many new challenges entail a greater need for cooperation at all levels between managers and employees and in all types of enterprises. The parties agree that it is best to involve employees in maintaining and developing enterprises’ adaptability and innovative abilities, one approach being to discuss the need for new skills and ongoing upskilling. The introduction of new technology requires increased focus on continuing education and training and on capacity for change. In future the role of health and safety representatives will become increasingly important in joint efforts to ensure high health and safety standards and productive enterprises. The parties agree that health and safety representatives must be at the centre of systematic health and safety work, including the determination of goals, workplace assessments and the prevention of accidents. One responsibility of health and safety representatives will be to raise the awareness of colleagues and management of health and safety at work. It is key that health and safety representatives in collaboration with management and shop stewards maintain a special focus on strategic assignments performed under the umbrella of the health and safety organisation, works councils or other collaborative forums. Later retirement from the labour market will increase the need to continuously create the best possible framework for high health and safety standards, which should be ensured by involving the health and safety representatives. The parties agree that good health and safety standards at work are conducive to high productivity and a sound economy. In order to prepare enterprises for tapping the potential provided by the green transition, including the potential offered by green transition in the global market, it is increasingly necessary for employees constantly to be abreast of health and safety challenges presented by new work assignments. The use and development of new technol...
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. 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.
Section 2. Payment of the penalty for giving a check which is not honored is the payment of double time for twenty-four (24) hours a day until check is paid.
Section 3. Section 1 and Section 2 are to take effect twenty four (24) hours after notification of the Contractor in default by any member of the Arbitration Board.
